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Resentful Spending

What do Brits HATE spending their hard-earned cash on the most?

Every penny counts - a term we're all familiar with - especially as the rate of inflation in the UK continues to rise much faster than an average Brit's salary increases. With monthly incomes being stretched further and further as the years go by, we were curious here at Make It Cheaper to uncover exactly which costs the nation resent paying the most, and why.

We asked just over 1,000 people how they felt about splashing their cash on particular items, from coffee and confectionary to life insurance and council tax. Take a look below and see for yourself which costs people across the UK begrudge paying for the most.

Britain's most resented expenses

What do Brits hate spending their money on the most, we hear you ask? Our survey revealed that extortionate train prices annoyed Brits more than anything else, with 58% disagreeing with the current cost of tickets.

With prices rising year after year, it's safe to say we're not surprised. Train travel is often an unavoidable part of the daily commute, so it's easy to see why the increase in the train ticket prices affect so many. The UK has seen an average 2.3% increase on prices in 2017 alone, and sadly the uncapped cost of tickets doesn't seem to be slowing down.

We can't continue without mentioning the infamous Freddo of course. While it may seem small, and perhaps silly to some, the friendly chocolate frog is a fine example of how prices across the UK continue to rise dramatically. Triggering uproar across social media, the once 10p chocolate bar has seen a huge increase in price since the mid-90s. Rising 2p every year since 2000, experts predict one Freddo will set you back 38p by the time 2030 comes around - outrageous, we know.

The cost of living

Rent, house prices and energy bills are all concerns for Brits, with each cost falling into the top ten most resented outgoings. Despite being essential, it seems most people hate paying their bills due to the high expense. Over three quarters of those surveyed stated that their bills were simply too expensive, with a third revealing they regularly spend their entire monthly wage on living costs.

High prices are leaving many with very little to spare to save for a rainy day or spend on the occasional treat, like a family holiday. In fact, energy costs alone saw up to a 10% increase in April 2017, making it more vital than ever to join the cheapest available fixed tariff. Out of all household bills however, it was council tax that the nation hated the most. Why? Having no choice but to pay whatever the council ask for irked 57%, with a further 23% seeing very little benefit from paying the tax.

Affordable and fair

On the complete opposite end of the spectrum, it seems there are some things we feel are priced much more fairly than others. The price of cupboard food - think pasta, tinned goods, crisps and more - didn't bother 83%, however the cost of fresh food did. 25% believed fresh goods were simply overpriced, suggesting financial struggles may be causing families to cut back on nutritious goods when money is tight.

Across the board, the price of various forms of insurance didn't seem to bother Brits either. In fact, most deemed the monthly cost a worthy investment, with over 80% feeling that contents insurance, gadget insurance and life insurance were reasonably priced. National Insurance was a concern for 13%, a significant drop from the 53% irritated by the price of council tax.

Even though mandatory bills like council tax can't be controlled, there are ways to cut down on those costs so many of us hate. Here at Make It Cheaper, we always stress the importance of shopping around for the best deals on energy, broadband and insurance. In fact, spending some time searching for the lowest price is always a worthy investment - even for the smallest of items.

Don't forget to check out the rest of the articles on our blog to pick up some extra tips on how to save money and cut down costs!

Sources

Survey carried out on 1,006 UK adults online through The Leadership Factor

https://www.uswitch.com/gas-electricity/guides/gas-electricity-prices/

http://www.independent.co.uk/news/business/comment/prices-rising-faster-than-wages-and-this-is-just-a-brexit-downpayment-a7738621.html

http://www.telegraph.co.uk/news/2016/07/08/this-is-how-much-a-freddo-will-cost-by-2030/

http://www.bbc.co.uk/news/business-38486011