Seven in 10 UK Adults Faced a Surprise Bill Averaging £535
Unexpected bills reached most UK adults over the past year. New research puts the share who faced one at more than seven in ten, with an average cost above £500.
The bills households dread
Car repairs and broken household appliances top the list, each named by 43%. Boiler breakdowns follow at 34%, emergency vet bills at 30%, and urgent plumbing or electrical work at 29%. Dental treatment came next at 23%. Phone or laptop repairs and unexpected utility bills were each named by 21%.
A cost that is not only financial
Worry about a surprise cost can wear people down. Sleepless nights affected 47% of those asked, 32% felt constantly on edge, 30% had headaches and 29% were short-tempered.
Who covered the cost
36% of individuals asked family or friends for money, although 48% said they felt uncomfortable doing so. Another 35% turned to credit. About half, 51%, put up with a problem they could not pay to have repaired, a toothache or a broken-down car among them.
Overall, 44% said they did not feel prepared for an unexpected bill.
How the survey was run
Santander UK says 71% of adults were hit by a surprise charge at some point in the last year. The average came to £535. The figures come from a survey of 2,000 people across the UK in October, run by 3Gem Research and Insights for the bank. The findings were released ahead of "unlucky" Friday 13.
Experts commonly suggest keeping some savings within easy reach for emergencies. Joao Soares, head of savings at Santander UK, said that "putting even a small amount away regularly can help".
Source: The Independent