The average adult will spend nearly £1m in bills over their lifetime

7 September 2020 | General

The average adult will cough up nearly £1m in bills over their lifetime – and now spends more on tech than they do on utilities, a study from O2 has found.

Research polling 2,000 UK adults found they will personally spend a total of £926,720 on gas, electricity, water, their phone and other bills.

An average of £508 is forked out on TV packages and streaming services each year, while £2,042 is spent on insurance annually – for life, buildings, contents, car, mobile, and travel.

But Brits are now spending more on tech-related bills, notching up an average £1,555 a year on these expenses compared to their spend on utilities at £1,491 per year.

Nina Bibby from O2 said: “Our research shows just how much unnecessary expense we outlay over the course of our lives.

“Taking the time to shop around for more flexible deals that suit your individual needs, so that you’re only paying for what you use, can save a huge sum of money in the long run.”

This post has originally been featured in Property Wire.