UK residents are currently more worried about living costs than their health.
The cost of essential bills and utilities is continuing to increase for homeowners in the UK, new research has shown.
According to findings from uSwitch, these prices have climbed by 25 per cent in five years, with the most sizeable hikes including gas (52 per cent) and electricity (32 per cent).
It was shown that in comparison, wages edged up by just six per cent over the same period, while just 52 per cent of survey respondents anticipate that they might receive a pay rise this year.
The research suggested residents in the UK are currently more concerned about the cost of living than they are regarding the state of their health, with many people eager to see chancellor of the exchequer George Osborne attempting to address the problem of escalating household bills when he makes his Budget speech later this month.
It was shown that the average household in the UK is currently paying around £67 a month for gas, which represents a 52 per cent increase on 2008 levels.
Electricity, on the other hand, is setting householders back by £45 a month at present - a 32 per cent climb on what people were forking out for the same utility five years ago.
In addition, the findings pointed to monthly water bills typically standing £32 a month higher than in 2008, which is a climb of 13 per cent.
Michael Ossei, personal finance expert at uSwitch, said the upcoming Budget is filling individuals with a mixture of dread and despair.
Mr Ossei stated: "Spiralling living costs are stretching household budgets to their absolute limit and people are running out of ways to fund their ever-increasing bills. With salaries failing to deliver, many are being forced to turn to debt just to stay afloat."
The news comes after regulator Ofwat recently claimed water bills in England and Wales are likely to increase by 3.5 per cent in 2013 and 2014, which should lead to the average bill edging up by £13 to stand at £388.
