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The Money Statistics February 2019 - Our top 10

Friday, 22nd February 2019

February 2019 striking numbers - our top 10 from The Money Charity

  1. 18.66% Average credit card interest rate in December 2018
  2. -5.9% Change in the average real wage since pre-crash peak in February 2008
  3. 26 years and 5 months Time to pay off average credit card debt making only the minimum payment per month
  4. £7,863 Average consumer credit debt per household in December 2018
  5. Total credit card debt in December 2018 was £72.2 billion. Per household this is £2,634
  6. On average, a UK household spends £3.97 a day on water, electricity and gas
  7. In Q3 2018 lenders wrote off £1.094 billion (of which £471 million was credit card debt, amounting to a daily write-off of £5.1 million.)
  8. It costs an average of £22.95 per day for a couple to raise a child from birth to the age of 18. For a lone parent family, the cost of raising a child comes to £27.90 per day.
  9. Citizens Advice Bureaux in England, Wales and Northern Ireland dealt with 2,477 debt issues every day in the year to January 2019
  10. Total credit card debt in December 2018 was £72.2 billion. Per household this is £2,634.A credit card on the average interest would take 26 years and 5 months to repay, making only minimum repayments each month.The minimum repayment in the first month would be £64 but would reduce each month. If £64 were paid every month, the debt would be cleared in around 5 years and 4 months.

Statistics supplied by The Money Charity

The Money Charity is the UK’s financial capability (financial education) charity. Their vision is that everyone has the ability to be on top of their money as a part of everyday life. They empower people across the UK to build the skills, knowledge, attitudes and behaviours to make the most of their money throughout their lives

You can view the full list of February 2019 Money statistics or sign up (look for the subscribe button next to no 2 on their list) to receive them, visit The Money Charity - Full list

 

 

 

 

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