Debt stats – April 2011

We’ve pulled together some debt facts and figures courtesy of Credit Action:

  • £1,156,000,000 is the total value of all purchases made using plastic cards each day
  • The average owed by every UK adult is £29,871 (including mortgages) – this is 126% of average earnings
  • 7,700,000 cash withdrawals will be made today with a total value of £528,000,000
  • Total UK personal debt at the end of February 2011 stood at £1,454 billion

Savings suffer as debts paid off in record amounts

According to comparison site, borrowing habits in the UK have taken a turn for the better after 2010 was reported to be a record year for consumers repaying their debts.

The report by showed consumers were becoming more conscious of their debt levels and wanted to pay off what they owe.  However, as a result of this, savings levels steadily dropped during the year.

Read the full article at

Do you have a spare £82 every month?

If you want to cover the potential cost of tuition fees for your children, that is the amount that Family Investments* have calculated new parents would have to save each month from the birth of their child.

This increases to £129 per month if parents delay saving until their child is five.


* Source – Credit Action March 2011 edition