![family household budget family household budget](https://cdn.vertex42.com/ExcelTemplates/Images/monthly-household-budget-template.png)
![family household budget family household budget](https://c1.staticflickr.com/8/7454/27676587716_5afb2c6f44.jpg)
![family household budget family household budget](https://www.wordtemplatesonline.net/wp-content/uploads/2020/01/Household-Budget-Templates-09.jpg)
This headline release uses the mean when referring to averages unless stated otherwise. Therefore, year-on-year changes should be interpreted with caution. The LCF is reviewed every year and changes are made to keep it up to date. Only anonymised data are supplied to users. Great care is taken to ensure complete confidentiality of information and to protect the identity of LCF households. The survey is continuous, interviews being spread evenly over the year to ensure that seasonal effects are covered. Each individual in a selected household is asked to complete a household interview and then an expenditure diary for two weeks. The LCF is a voluntary sample survey of private households. The LCF is a UK household survey designed to provide information on household expenditure patterns and food consumption. Survey descriptionĪll the findings in this headline release are taken from data collected on the Living Costs and Food Survey (LCF). However, because of reduced data collection in the latter half of March, data may not accurately reflect the impact of lockdown on spending and the annual estimates reported in this release will not be significantly impacted. All households that were not interviewed as a result were treated as non-responders and data were weighted to account for reduced data collection in March 2020 compared with previous years.ĭata collected in March 2020 may have covered changes to spending habits around the start of the first UK lockdown on 23 March, for example panic buying beforehand and reduced spending during lockdown when people were advised to stay at home and many businesses were closed. Final March interviews took place on Monday 16 March 2020. Results presented in this headline release cover the financial year ending (FYE) 2020, that is, April 2019 to March 2020.įollowing government guidance in relation to the coronavirus (COVID-19) pandemic, a pause in data collection led to interviews being conducted for 13 fewer days in March 2020 than planned.
FAMILY HOUSEHOLD BUDGET REGISTRATION
Back to table of contentsįamily spending has been designated by the UK Statistics Authority as National Statistics, in accordance with the Statistics and Registration Service Act 2007 and signifying compliance with the Code of Practice for Statistics. Data are shown by place of purchase, income group (deciles) and age of household reference person.įamily spending workbook 2: Expenditure by incomeĭata are shown by region, age, income (including equivalised) group (deciles and quintiles), economic status, socio-economic class, housing tenure, output area classification, urban and rural areas (Great Britain only), place of purchase and household composition.įamily spending workbook 3: Expenditure by regionįamily spending workbook 4: Expenditure by household characteristicįamily spending workbook 5: Expenditure on housingĭata are shown by region, age, income (including equivalised) group (deciles and quintiles), economic status, socio-economic class, housing tenure, output area classification, urban and rural areas (Great Britain only), place of purchase and household composition. Households headed by people aged under 30 years spent proportionally more on housing and food (41%) than other age groups (30% to 36%), and together with those on lower incomes are among the groups most affected by labour market shocks associated with the coronavirus (COVID-19) pandemic.įamily spending workbook 1: Detailed expenditure and trendsĭetailed breakdown of average weekly household expenditure on goods and services in the UK. Households in the highest income decile spent almost five times as much on discretionary areas such as recreation, culture, restaurants and hotels as those in the lowest income decile, suggesting they may have had greater capacity to cut back on spending when restrictions were imposed during the coronavirus (COVID-19) pandemic. Prior to the coronavirus (COVID-19) pandemic, households with lower income spent proportionately more on essentials such as housing, food and transport than those on higher incomes households in the lowest income decile spent 54% of their total weekly expenditure in these areas compared with 42% in the highest income decile. On average, households in the highest income decile spent almost four times as much as those in the lowest decile however, their average disposable income was around 11 times higher, which suggests they had a greater ability to save. In the financial year ending (FYE) 2020, the period immediately prior to the coronavirus (COVID-19) pandemic, average weekly household spending in the UK was £587.90, down slightly (not significantly) from FYE 2019 (£603.10 adjusted for inflation), despite average income increasing modestly during the same period.