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How Much Money Does the Average Person Spend in a Lifetime?


The Average Lifetime Spend in the UK

Life can sometimes feel like you never stop spending. There is always another expense or bill to deal with. And if you’re wondering how all these costs add up over your entire life, brace yourself. We’re delving into the eyewatering statistics of how much the average person in the UK spends over their lifetime.

The average person in the UK will spend an astounding £1.5 million throughout their life. 

More specifically, the average Brit will spend £1,543,834 over a life expectancy of 80.7 years. This huge spend covers a variety of essential and non-essential life expenses, painting a vivid picture of the financial landscape of individuals in the UK from cradle to grave.

Average Spend Stats for the UK

  • The average Brit will spend £1,543,834 over the 80.7 years of their life.
  • Housing will take up an average of 49% of the money you spend in your lifetime. 
  • The average person in the UK will spend £85,865 on petrol and diesel in their life.
  • 42% of UK married couples end up paying an average of £14,561 for a divorce. 
  • Brits spend over a total of £170,000 socialising.

The Biggest Expenses of Your Life

1. Housing

Housing is the single largest expense category, costing an average of £1.2 million across a lifetime. This includes utilities, communications, TV services, and various household operational and maintenance expenses. Making up 49% of all money spent within the average UK household’s budget. 

Household utilities like water, gas & electricity cost over £160’000 throughout a lifetime. And with soaring bills and energy costs during the UK cost of living crisis, these are at a historic high. But there are small and effective steps you can take to cut down on household utility bills

Of course, housing costs vary across renters, outright owners and those making mortgage payments. Here’s the breakdown of spending on housing costs for each category. 

Housing CostsAnnual spendLifetime spendPercentage of total lifetime spend
Outright Owners£7,254£585,39822%
Social Renting£13,175£1,063,22340%
Private Renting£18,928£1,527,49058%
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3. Food 

UK households spent a further 18% of their budget on food, equating to £476,453 over a lifetime. This can be further broken down into categories including: 

  • Groceries and non-alcoholic drinks bought for the home – 70% of food spending
  • Alcohol bought for consumption at home – 8% of food spending
  • Eating and drinking out – 22% of food spending

This has also been impacted by rising prices. UK food prices rose around 10% in 2021 and have continued to follow this pattern. Our 2023 survey on UK food inflation revealed that nearly 40% of UK shoppers spent £50 more per month on their food shop. This equates to an increased lifetime spend of £48,420 for the same shop if prices continue as they are. 

3. Transport

Following housing and utilities, transport is the third highest expense for UK households. It costs an average of £438,847 over a lifetime, accounting for 17% of total spending. This includes public transport as well as vehicle, fuel and insurance expenses. 

Car insurance was reported to cost an average of £629 a year per household in the UK. With regular expenses like these, keeping costs down can make a huge difference over the course of your life. One of the best methods of this is by shopping around and comparing UK car insurance quotes before you buy. 

ExpenseAnnual spendLifetime spendPercentage of total lifetime spend
Vehicle Operation Expenses£684£55,1992%
Public Transport£756£61,0092%
Petrol & Diesel£1,064£85,8653%
Purchase of Vehicles£1,731£139,6925%
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Expensive lifestyle choices 

Looking at averages can help you understand spending patterns, and empower you to make informed financial decisions. But not everyone will live their life the same way, and the choices you make will affect your average lifetime spend. These are the important price tags that come with popular lifestyle choices.


Marriage and weddings are infamously expensive. And like a lot of other things in 2024, the cost of a wedding is at an all-time high of £19,184. This is before you even consider the honeymoon expense or the average cost of an engagement ring

When factoring in all these extras, wedding costs are closer to £24’000 overall. Then there’s the option of divorce, which will cost 42% of married couples in the UK an average of £14,561


The average cost of raising a child from birth to 18 in the UK stands at £223,256, encompassing housing and childcare costs. This adds about £12,400 to household spending each year and sheds light on the financial responsibilities that come with parenthood.


The lifetime cost of owning a dog or cat ranges between £16,000 and £33,000. A significant portion of these expenses will be on health costs or pet insurance, making it essential to find competitive pet insurance prices. 


A 2023 survey reveals that 89% of Brits overspend on their socialising budget each month. Resulting in an estimated lifetime spend of £174,312 on nights out, birthdays, and celebrations. And some of the hardest hitters like Christmas are causing concern for a lot of people as costs rise, with 42% of people worrying they won’t be able to afford Christmas in 2023.

Insurance – Investing in financial protection 

This comprehensive breakdown unveils the staggering figures contributing to the lifetime expenditure of the average UK resident. And although necessities like housing and food carry an unavoidable financial weight, there are ways to protect against some of the costs of everyday life. 

Insurance can give you vital protection against life’s largest unexpected expenses, and mitigate some of the costs of life. Car, home, and pet insurance are just some of the options that can provide a financial safety net throughout your lifetime. And finding a policy that fits your needs and budget is vital. Compare insurance policies across trusted UK insurers now at Quotezone.co.uk. 

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This article is intended as generic information only and is not intended to apply to anybody’s specific circumstances, demands or needs. The views expressed are not intended to provide any financial service or to give any recommendation or advice. Products and services are only mentioned for illustrative rather than promotional purposes

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