The current cost of living crisis is causing many of us to worry about our future finances and paying our bills. The rise in food prices, fuel, utilities, and transport can be incredibly overwhelming and cause anxieties in every household. With some people even having to make decisions such as whether it is better to fill their car with fuel or buy a food shop. Rising costs are everywhere. 

Sorting through the abundance of information can be time-consuming and stressful. Therefore, I have put together some tips and a simple guide to combat the cost-of-living crisis. 

How does the cost of living crisis affect me?  

The cost-of-living crisis will affect every household differently. However, you have likely seen a rise in food, fuel, transport, and household bills. You will be finding yourself paying much more for your goods and services than say two years ago.  

What can I do to limit the impact of the cost of living crisis?  

  1. Spring clean your direct debits and standing orders

It is worth going through your current account and searching your direct debits and monthly subscriptions. Decipher what monthly payments are unnecessary and cancel them. Specifically look out for services such as Netflix, Sky, or Spotify. Not only does make you aware of your finances, but you could be stopping yourself from spending on the things that you don’t need. You can save yourself some serious money! 

  1. Think about your grocery shopping habits

It is extremely easy to just walk into a supermarket without a list and just buy everything that you ‘think’ you need. But with supermarket food prices at a 3x price increase, it’s important that you start to strategically shop. Set yourself a strict, affordable food budget and stick to it. Also, go through your cupboards and make a proper list of what you need!

Do not just walk into a supermarket blind. Think about shopping for supermarkets’ own brands, these are commonly cheaper and can help you make savings. Perhaps even go to a cheaper supermarket to help cut costs. If you frequent M&S for your food, try an alternative like Sainsbury’s or Tesco’s. Or if you shop in Sainsbury’s or Tesco’s, try Aldi or Lidl, there is no shame in saving money!  

  1. Always shop around when signing up for a service

You can use comparison sites to search for phone, broadband and insurance services to shop around for the best deal. Always use these sites or check with competitors rather than letting your contract roll over into the next year. Although this may be the easiest option, it may be costing you more money. The market is changing constantly, so make sure that you are up to date with your services. Some companies such as Utility Warehouse,(I can help you with this) bundle these services together meaning you can benefit from a much cheaper option overall.

Did you know that some companies actually pay YOU to transfer? For example, if you switch your bank account over to HSBC, you could receive £170 for free.  

  1. Get yourself a cashback card!

A cashback card makes you money whilst you are spending. A great cashback card scheme is with Utility Warehouse. The scheme allows you to shop at lots of popular retailers and make you money! If you are a current UW customer, the cashback that you earn with the scheme will be knocked off your monthly utility bills. This will help you to save where it’s most expensive.  

  1. Get a smart meter to help the rising cost of living

If you haven’t already, then get in touch with your energy provider to get yourself a smart meter! A smart meter will read your electricity and gas usage and send it straight to your energy provider. You will no longer have to provide a meter reading; the company can do it for you! If you’re on a fixed rate, this will help you to determine your monthly direct debit and could save you some serious money!

A smart meter will also make you conscious of how much electricity and gas you are using on a daily and weekly basis. Another benefit to a smart meter is it helps to reduce your carbon footprint.  

And finally, try your hand at a low-dedication job, such as Utility Warehouse! UW was the best decision that I have ever made and has made me financially free. Joining UW can really help you in this time of crisis. If you’re interested in earning a residual income and adding to your monthly income, then get in touch with me today and I can tell you all about the benefits of being a UW partner.


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