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Add on council tax, utilities and existing debts, and it becomes an impossible, unaffordable situation for many.
It blamed higher than expected increases in costs in areas such as tax, utilities, labour and bar and food supplies, combined with increased marketing costs.
With council tax, utilities and petrol costs running to £5,000 a year, the average Briton was left with close to £15,000.During the boom years income and outgoings moved in ways that made household finances glow.
If you were compiling a profit and loss account for your household, for example, you would probably include things like council tax, utilities and water rates, but would not include the cost of a takeaway".
"For the last eight years I have claimed for the cost of my room/flat, as I am entitled to, plus council tax, utilities and my travel expenses to and from the constituency to Westminster - as do the majority of MPs.
But cap-and-trade advocates who press on with an expensive plan to tax utilities and their customers in this economy may find themselves facing challenges they don't expect.
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Only rent, hotel bills, overnight subsistence, mortgage interest, council tax, utility charges and insurance will be allowed.
Martin also announced that MPs would in future only be able to claim rent, hotel bills, overnight subsistence, mortgage interest, council tax, utility charges and insurance.
Talk to your children about all the different things that have to be paid for, including tax and national insurance, along with mortgage/rent, council tax, utility bills, insurance, phone and broadband and the weekly shop.
"As well as your mortgage, rent or loan commitments, you must include those everyday essentials such as council tax, utility bills and the weekly food shop," says Simon Burgess, director at protection provider British Money.
"For this house, I have the maintenance, taxes, utilities and insurance, along with huge mortgage payments.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com