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Millions of Brits "struggle with bills"

As many as 12 million Brits are struggling to pay billsTwenty-five per cent of British citizens are struggling to pay their bills, according to a new study.As many as 12 million Brits are currently struggling to cope with their monthly bills, according to a new report.

The Reality Gap Report by protection specialist Bright Grey found the average Brit spends £1,378 each month on essentials - equating to 68 per cent of the average individual income.

This monthly figure rises to £2,001 for families.

Rent or mortgage payments make up the largest share of monthly expenditure followed by transport (£267), monthly shop (£208) and council tax (£120).

Roger Edwards, proposition director at Bright Grey, said: "The report reveals the average Brit is just £155 away from a money meltdown.

"Many Brits are already struggling to afford their monthly bills - and all it would take is a small increase in bills or drop in income for people to find themselves in trouble."

The report showed that fuel bills have risen by 325 per cent since 2003.

According to the government making your home energy efficient could save you over £300 a year in fuel bills.

It recommends using energy efficient light bulbs and installing double glazing, which can cut heat loss through windows by 50 per cent and lower your heating bill by around £130 a year.

Written by Liam Cass.ADNFCR-2394-ID-19376474-ADNFCR

Article Added: 24/09/2009 11:26:34
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