Spiralling cost of our everyday ‘essentials’

MODERN technology is putting huge pressure on our purses as we spend growing sums on “essentials” we could happily live without just 20 years ago.

The average Briton now pays nearly £66 a month, or £788 a year, for broadband, smartphone contracts, mobile data, apps, subscription services such as Netflix and Spotify, or delivery services such as Amazon Prime.

Three quarters of us say we could not live without our broadband connection, despite an average monthly cost of just over £20, more than £240 a year, followed by smartphones at an average monthly tariff of £13.59.

Cloud storage, online casinos and gaming subscriptions also eat up money, as do ready-tocook meal delivery services.

Modern beauty trends such as teeth whitening, tattoos, Botox injections and eyebrow threading add to the cost with the bill totalling £41billion a year.

Few bought any of these things a couple of decades ago but now many people see them as essential to a good life.

GoCompare.com consumer advocate Georgie Frost said until recently most people only had to worry about basic household bills and car-running costs: “Now many have a list of online subscriptions, contracts, treatments and services that they suddenly can’t live without.”

Budgeting for these new bills is tough given that incomes have remained relatively unchanged. She added: “Many should ask whether these bills are really necessary, or make room by saving on old bills such as gas and electricity, and motor and home insurance.”