Think Money

Average household debt 'just under half of annual income'

News   •   Nov 16, 2011 09:33 GMT

Aviva's research found that more than half (52%) of UK families currently have some form of debt that they repay each month - although this is down from 58% in August this year, when the last study was carried out. 

On average, those families owe £10,604 - just under half the average annual household income (£23,796). Many are spending a significant proportion of their earnings on debt repayments alone: average monthly debt repayments come to £224, up from £218 in August. 

And the research found noticeable differences in the situations different families find themselves in. Those in a committed relationship with two more children owe £16,428 on average - much higher than the overall figure - while couples with no plans to have children owe much less, at an average of £3,577.

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