Brits Could Save Up to £3k By Ditching Booze - Covering The Cost of Energy Bills

Brits consuming an average of two alcohol drinks per day could save almost £3,000 a year simply by giving up alcohol, MoneyTransfers.com has revealed. For those consuming the NHS recommendation of no more than 14 units per week, savings up to £2,168 could still be made.

“As Sober October draws to a close, many Brits who participated in the campaign may be keen to see just how much they saved by simply ditching the odd glass of wine,” comments Jonathan Merry, CEO of MoneyTransfers.com.

“What’s clear is that for the British population that drinks on a frequent basis, life-changing sums of money could be saved from a simple lifestyle shift. Whether that’s quitting alcohol altogether, or participating in dry-drinking challenges a couple of times a year, this is an obvious way to pinch some pennies.”

How Much Do Brits Spend On Alcohol?

The average British household spends £11.30 per week on alcoholic drinks. Over the course of a year, this equates to £587.60. This figure is more than the average weekly spend on fresh fruit and vegetables combined (£4.40 and £5 respectively).

For a household in which two adults work full-time, the average household expenditure on alcohol, tobacco, and narcotics combined is £16.50.

Source: Office for National Statistics – Living Costs and Food Survey

Average Household Spend On Alcohol By Region

Regionally, people based in the North West spend more per week on alcohol at home than any other region, at an average of £10.90 a week. Interestingly, Londoners spend the least on alcohol for at-home use than any other region, with an average spend of just £8.10.
Although London’s average spend on alcohol at home is surprisingly low compared to other regions, it’s important not to overlook the fact that London has the highest concentration of bars and pubs than anywhere else in the country, so it’s possible that Londoners are quenching their thirst out rather than buying alcohol to stay in.

What’s The Average Cost Of Alcohol In The UK?

According to the latest data available from the ONS, the current average cost of a pint in the UK is £4.12. Earlier this year, it was reported that the cost of a pint of beer had increased by a shocking 70% in the last 15 years, as the average cost of a pint in one bar in London hit over £8.

A small (175ml) glass of wine costs around £4.17, while spirits and liqueurs manufactured in the UK cost an average of £9.60 per litre.

*Pint cost as of October 22, **Wine cost as of August 22 (ONS)

How Much Alcohol Do Brits Drink?

Although the average household spend on alcohol is provided by the ONS, what’s not clear is just how much the average Brit drinks each week. For example, an estimated 20% of adults aged 16 and over do not drink alcohol, according to DrinkAware. This factor alone is likely to skew the average household spend.

Research from DrinkAware, an independent UK charity, revealed that approximately 57% of adults aged 16 and over drink up to 14 units of alcohol per week in England and Northern Ireland, with this percentage rising to 60% in Scotland and Wales. For reference, 14 units is the equivalent of 6 pints, or 10 small glasses of wine, according to the NHS.

A smaller study from Delamere revealed even more shocking statistics. 1 in 5 Brits surveyed reported drinking an average of two alcohol drinks every single day. Meanwhile, 66% of Brits surveyed said that their average alcohol intake increased while holidaying abroad.

How Much Could Brits Save By Giving Up Alcohol?

Using the data provided above, MoneyTransfers.com calculated that the average UK household could save £48.96 per month, or £587.60 annually by giving up alcohol altogether.

Perhaps even more shockingly, one person drinking up to 10 small glasses of wine per week (14 units) could save up to £2,168.40 a year by giving up alcohol. Even participating in one month of sobriety, such as the popular Sober October or Dry January campaigns, could save £180.70 per person, or £107.12 for a beer drinker.

Those 20% of Brits who reported that they drank two alcoholic beverages a day could make a massive saving of £249.94 per month, assuming they’re drinking pints of beer, or a huge £2,999.36. To put that into perspective, with the average energy bill capped at £2,500, some Brits could completely cover their energy bill simply by giving up drinking.

Generational Differences

Those who could benefit most from saving money by quitting alcohol appear to be in the higher age brackets, according to data from 2019 – 2020. The majority of people reportedly drinking alcohol a couple of times a week or daily were in the 65 or older demographic, followed by the 55 – 64 age group.

In contrast, 18 – 24 year olds were most likely to say they don’t drink alcoholic drinks (30%), with millennials most likely to say that they either drink once or twice a month, less than once a month, or not at all.