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Average UK Spend on Alcohol to Increase by £19.76 a Year and Cigarettes Will Increase by £69.06, Following Today’s Budget

March 19, 2014

LONDON, March 19, 2014 /PRNewswire/ –

Money Dashboard shows exactly how the Budget will affect UK spending on

alcohol and cigarettes

George Osborne’s latest round of tax increases on alcohol and cigarettes will cost the
average drinker an extra GBP19.76 and a smoker GBP69.06 each year. This is according to
research announced today by smart account aggregation service Money Dashboard.
[https://www.moneydashboard.com ]

Money Dashboard has analysed the spending of 20,000 users to work out the current UK
average spending on alcohol and cigarettes and how today’s Budget increases will affect it
over the course of a year.

For Alcohol:

        - The average UK spend on alcohol was previously GBP1,708 per year.
          Following the 2014 Budget, this will increase only at the rate of inflation to
          GBP1727.76 - a yearly increase of GBP19.76. Beer drinkers, who saw a 1p cut per pint,
          will save on average GBP5.63 per year.

For Cigarettes:

        - The average UK spend on cigarettes was previously GBP565 per year.
          Following the 2014 Budget, this will increase to GBP634.06 - a yearly increase of
          GBP69.06.

For Fuel:

        - The average UK spend on fuel was previously GBP2,017 per year. Following
          the 2014 Budget at the rate of inflation, this will increase to GBP2,055.32 - a yearly
          increase of GBP38.32.

Money Dashboard has also created four dashboards to visually show exactly where
government spending goes and how this has changed over the past four Budgets. With these
dashboards, the government’s increased spending on healthcare by GBP3bn is easier to
understand.

High-resolution dashboards are available here
[https://www.dropbox.com/sh/jcgw5om7ty572sb/cQSdQGL-KW ].

Gavin Littlejohn, Founder and CEO of Money Dashboard comments: “With taxation on
things like cigarettes and alcohol increasing, your average consumer will need to look
long and hard at their finances to see where these additional costs will come from. Whilst
a 2% increase in tax on cigarettes above inflation may not sound like much, over the
course of the year, it could in fact jeopardise the chance to buy that dress or suit
you’ve had your eye on.

Using data from real users we are able to demonstrate exactly how the Budget will
impact on UK consumer spending. Having complete visibility of your expenditure, from all
your bank accounts, will be key to managing your money and tracking where it goes each
month and over the course of a year.”

About Money Dashboard:

Money Dashboard is the UK’s leading smart account aggregation service that allows
users to view spending across multiple accounts, automatically tag spending into different
areas and budget for the future. Money Dashboard is a free online service that allows
users to:

        - Aggregate: all of their finances into one place by linking different
          accounts including savings, current and credit cards, no matter which bank they belong
          to. Money Dashboard provides users with an overview of their finances all in one
          place.
        - Intelligently Tag: all of their financial data. Money Dashboard automatically
          categorises income and expenditure into groups and tags such as 'household', which is
          then further subdivided into 'electricity' for example, to make sense of your
          financial transactions.
        - Visualise: financial data by creating simple graphs and pie-charts that show
          users exactly where money goes each month.

Money Dashboard makes your financial life easier. Whoever you bank with, all your
current, savings and credit card accounts come together giving you a clear picture of
exactly what’s happening with your money. Launched in 2010 Money Dashboard has become one
of the largest account aggregation services in the UK.

SOURCE Money Dashboard


Source: PR Newswire



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