What do you think of this news story today - can it possibly be correct?:
The average person has just £27 a week left to live on after meeting all their bills and essential outgoings.
Recent rises in council tax and utility bills, and high levels of debt, have left the average Briton with £954 worth of monthly commitments to pay from an average income of £1,070, says Combined Insurance.
The group said around 89% of people's pay was already committed to bills, debts and essential living costs before it even hit people's bank accounts.
Unsurprisingly, the biggest monthly commitment people face is their mortgage, with homeowners paying an average of £450 a month each towards their home loan.
But people also have to find around £152 a month for debt repayments on credit cards, loans and store cards.
On top of this people also need £153 each month to meet the cost of gas, electricity and water bills and council tax.
Other monthly commitments include the cost of running a car, telephone bills, child care and insurance.
got even less tharn that between the two of us. and the figures fo mortgage and council tax are laughable imo (ct is 130 a mnth here). But then as they are an average they are taking into account people who bought their houses years ago I suppose.
I do OK until something unexpected comes along - for instance, last month I had a repair bill that I was expecting to be around £150, but had heart palpitations when I got home to find an invoice for almost £500. An unexpected expense like that means lean times for quite awhile, and it takes my finances a long time to recover. Consequently, at the moment, I'm feverishly researching things dd and I can do for free during half term next week. Anyone got any great ideas for Londoners?