Expenditure totals worked out by Axa
The amount of money it costs to maintain an average lifestyle has been worked out by Axa, an insurer.According to the firm, today's 18-year-old would spend around £1.75 million across the rest of his or her life.For the average 55-year-old, the total was a still-hefty £624,000.Axa worked out its total spends by monitoring the expenditure habits of 2,100 Britons.The firm also found that the average Briton spends £240 a month on groceries and £68 on going out.Steve Folkard, head of savings and pension policy at Axa, said: "According to Oscar Wilde a cynic knows the price of everything and the value of nothing. We say 'know the price of everything and the value of planning'."We've just experienced a global economic shock, and we're now moving into the aftermath; potentially a prolonged recession whatever stage of life you're at, you can take control and get your finances back in order."
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