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rising costs means we’re ditching love to pay for gas bills

Couples and love-seekers have had to cut spending on romantic evenings and gestures after soaring bills and food prices forced them to divert income elsewhere.

The cost-of-living crisis has forced consumers to prioritize — tightening their belts and dedicating themselves to finding a partner or taking loved ones out to dinner, according to a report by the Nationwide Building Society.

Dating spending fell dramatically in the past month, Nationwide reported. Spending on child care, driving, television, phones and broadband also fell as consumers cut back on spending amid high inflation and rising bills.

Consumers spent 10 per cent less on hookups or hookups in April compared to the previous month, with the average transaction being £22.48. The country spent as much on romantic evenings last month as it did in April 2021, despite being in the middle of its third lockdown over the past year and socializing all but forbidden.

According to Nationwide, the total amount of money spent by consumers in April was the same as in March, although the number of transactions fell dramatically. The building society said this reflected rising costs in certain areas such as groceries and utilities.

Charity spending was also down 16 percent in April, although that’s still 17 percent higher compared to 2021. The average donation was £22.94.

Inflation hit 9 percent last month, the highest in almost 40 years, while monthly mortgage payments were pushed up by four hikes in the cost of borrowing by the Bank of England, resulting in the worst cost of living in a generation.

Energy bills also rose 54 per cent in April, taking average annual spending to £1,971, while council tax on the average home rose to almost £2,000 from £1,898. A series of tax changes were also introduced last month, increasing Social Security contributions as the thresholds above which taxes are paid remained unchanged.

https://www.telegraph.co.uk/money/consumer-affairs/death-date-night-rising-costs-means-ditching-love-pay-gas-bills/ rising costs means we’re ditching love to pay for gas bills

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