Changes Consuming Habits Bring About
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Changes Consuming Habits Bring About
Changes Consuming Habits Bring About
A country’s social status can be directly infected by its citizens’ economic status. As for UK, the way each individual household allocate their income has a huge impact on the whole economy, and the study on the changes also involves changes in social conditions and attitudes. In the past 50 years, the spending habits of British people have changed significantly. Now lets take a close look at the change over the years.
A study conducted by a non-governmental organization in February shows that in Britain, the percentage of income spent on food and non-alcoholic drinks has dropped to 15% of the average household’s weekly budget, compared to about one third in 1957, the numbers have dropped greatly. The budget on fuel, power and heating has also halved from 6%, which was the figure in 1957, to 3% in the year 2006, from around £30 per week to about half the price. Spending on clothing and footwear is also down by about 50%, going down from 10% to 5% of the average weekly budget. However, the costs on housing, such as the mortgage payments or rent now make up 19% of the spending-up from 9% five decades ago. This means that in 1957, the average family spent an average £21.15 a week on housing, now increased to £60.20, with an additional £17.35 council tax. The growth is more than doubled. More money is spent on traveling too, nowadays, 50 years ago, traveling was not as easy as it is today, especially with the widely use of private cars and motorcycles, the average money spent on traveling nowadays have doubled to 15%, which means an average £18.25 a week on petrol and car maintenance. Of course, we cannot neglect the cost on entertainment, mainly on radio and TV. In 1957, the average family spend £3.65 a week on home entertainment. The figure has increased almost 300% to £10.50 a week, including satellite and cable, as well as the internet fee.
As the decades went by, the spending habits have...