New research from GoCompare has revealed the £41billion bill for modern goods and services -things that are sapping our finances now, but which most of us wouldn’t have been paying out for just 10 years ago.
The comparison site has identified 20 so-called ‘Nouveau Bills’ that are costing UK adults £66 a month or £788 a year on average, including mobile data, tattoos, streaming services, online casinos and bingo sites and online subscriptions.
In a short period of time, new technology has transformed the way we live – from the way we communicate and access information to the way we shop and entertain ourselves. While the obsession with self-improvement has also changed what we spend our money on.
|Rank||‘Nouveau Bill’||Cost||Percentage of people paying for|
|4||TV streaming service (e.g. Netflix)||£3.54||£42.48||32%|
|5||Beauty treatments (e.g. eyebrow threading, manicures, false nails, spray tan)||£3.18||£38.16||14%|
|6||Subscription delivery service (e.g. Amazon Prime)||£2.52||£30.24||23%|
|7||Online casino/online bingo||£2.26||£27.12||7%|
|9||Coffee pods (e.g. Tassimo, Nespresso)||£1.90||£22.80||16%|
|10||Online newspaper and magazine subscriptions||£1.66||£19.92||9%|
|11||Hand car wash/detailing||£1.57||£18.84||13%|
|12||Playstation Plus or Xbox Live subscription||£1.38||£16.56||9%|
|13||Self-storage (e.g. Big Yellow, SafeStore)||£1.20||£14.40||2%|
|14||Gaming in app purchases for power-ups, etc||£1.05||£12.60||11%|
|15||Teeth whitening or Botox injections||£1.05||£12.60||3%|
|15||Music streaming service (e.g. Spotify)||£1.03||£12.36||13%|
|17||Ready to cook meal delivery service (e.g. Mindful Chef, Hello Fresh)||£0.82||£9.84||5%|
|18||Online subscription book service||£0.63||£7.56||4%|
|20||Paid for mobile phone apps||£0.41||£4.92||7%|
|Average total spend by UK adults||£65.66||£787.92|
The survey also asked participants which of the modern goods and services they couldn’t live without. Broadband (72%) headed the list followed by smartphones (52%), mobile data (26%), TV streaming services such as Netflix, Now and Amazon (23%) and subscription delivery services such as Amazon Prime (14%). Other modern-day essentially were music streaming services including Spotify and Deezer (10%), beauty treatments including eyebrow threading, manicures, etc. (8%), coffee pods (8%), cloud storage (8%) and online newspaper and magazine subscriptions (6%).
Commenting on the research, Georgie Frost, Consumer Advocate at GoCompare said “These figures just go to show the extent to which our budgets have been stretched in recent years. At a time when incomes have remained relatively unchanged, finding budget for up to 20 new bills in our lives is a big ask. It wasn’t so long ago that we just had to worry about the basic household bills and perhaps the cost of running a car. Now, most of us have also acquired a list of online subscriptions, contracts, treatments and services that we suddenly ‘can’t live without.”