The average UK home will spend an eye-watering £713,232 on the cost of living over a lifetime, new analysis has revealed.
The most significant expenses are transport £164,736, followed by recreation and culture at £149,526, according to analysis by uSwitch.com
The average household will spend a staggering £62,010 on energy – equivalent to almost double the average pension pot of £36,600 or double the amount of the average house deposit – £31,000.
Food and non-alcoholic drink spend amounts to £137,592, while communication costs stand at £33,930.
Tom Lyon, energy expert at uSwitch.com, said: “The New Year is a great opportunity to start afresh and make some resolutions to start saving precious pounds. The introduction of faster energy switching means that changing energy supplier is quicker and easier than ever before, so now is the ideal time to make sure you’re on the best deal.”