How did households budget in 1957?

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by Simon Gompertz 18 January 2018 BBC News

The Office for National Statistics marked the 60th anniversary of its regular Family Spending Survey by looking at how our habits and commitments have changed.

It returned us to 1957 – the year when John Lennon met Paul McCartney.

People spent their money on essentials such as food and clothing and had little left over..

Since then, our spending on housing has doubled. We do spend a lot less on tobacco though!

We spend the same proportion of our money on booze as 60 years ago.

In 1957, Prime Minister Harold Macmillan said, famously, that “most of our people have never had it so good”.

A typical household had £381 to spend a week (in today’s money), compared to £554 in 2017.

We spend twice as much housing and leisure  as in 1957 but half as much on food and clothes.

So Harold Macmillan just didn’t know what was coming!

YouDrive thinks…

Some fascinating changes, which show how much things have changed socially as well as financially!

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