Disposable income has fallen to a five-year low, according to a study by Ernst & Young.
Big rises in household costs continue to outstrip wage increases .
Average monthly mortgage repayments, typically a household's largest monthly outgoing, have soared 65% in the last four years, and are up 12% in the last year alone.
Also seeing above inflation rises on a host of fixed costs such as council tax bills ( Up 20% since 2003/04 for a band D property) , water rates, pension contributions and petrol (11.7% higher than last year)
Household bills have risen by 31% since 2003/04, and now account for more than 50% of a typical household's gross income, up 5% in the same period.
Loans, credit cards and overdrafts have soared more than 30% in the last four years, with the average unsecured debt now standing at £8,028 - compared to £6,568.
The average British household now has £837.53 disposable cash to spend each month after total fixed outgoings.