As we leave summer and head into autumn, sunny beer garden beverages have left bank accounts dry and in need of some seasonal saving in the run up to Christmas.
For anyone interested in improving their health and wealth, Sober October is an initiative founded by Macmillan Cancer Support which encourages people to go alcohol-free in October to raise money for those with cancer.
Quitting alcohol can give you a number of benefits, including helping your mental wellbeing, improving your quality of sleep and concentration, as well as providing an unshakeable sense of achievement.
Saving money is one of the biggest benefits though, with people considering quitting alcohol expected to pocket hundreds of pounds in just over four weeks, according to our new calculator.
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How much are you spending on booze each month?
Like any other beverage, alcoholic drinks have been impacted by inflation in the last 12 months. The latest figures from the Retail Price Index revealed that the average price of a pint of lager has risen by 12.1% in the last year.
How much could you save depending on how much you usually drink?
How do I calculate how much I’m spending each month on alcohol?
According to DrinkAware, 57% of adults drink up to 14 units of alcohol per week – around six pints, or six 175ml glasses of wine.
Carrington Dean has gathered information on the common price of alcoholic beverages from one of the largest pub chains in the UK. With this, we established how much the average person could save – or is spending – each month on alcohol.
We’ve created a handy calculator that shows your potential savings per week and month based on your own personal alcohol consumption. Just input how many pints, glasses of wine or spirits you drink a week when you’re out and we’ll work out how much you could save.
Brits are spending hundreds per month on alcohol
Our research, using recent data from 30 pubs across the UK, found that enjoying six pints of lager every week could mean shelling out around £108 each month. But if you’re more of a gin and tonic fan, six single servings might set you back roughly £35 per week – just shy of £150 per month.
Similarly, white wine fans could save at least £140 if they’re having six large glasses per week – or £125 if you prefer prosecco.
As the cost of living bites and people look to save ahead of the festive season, those who consider going sober this October could expect to save hundreds of pounds.
Like any social expense, it’s crucial to be aware of how much the cost of alcohol can add up and stick to your budget. As summer time socialising winds down, taking Sober October – or any other month – as an opportunity to save may help to avoid falling into debt ahead of the festive season.
If you’re struggling with the rising costs of socialising and everyday items, you’re not alone. Get in touch with the team at Carrington Dean where we can discuss the options available to take back control over your unsecured debt, including a Trust Deed.
Methodology
Carrington Dean looked at the cost of alcoholic beverages in 30 pubs across the UK, to create a national average of popular drinks.
The calculator factors in how much you are likely to drink per week, and then brings up a savings figure per week, and per month.
