Having a lighter vehicle load can help contribute to saving fuel. You may want to think about getting a standby saver or smart plug that allows you to turn all your appliances off standby in one go. Modern LED bulbs use 90 per cent less electricity than traditional incandescent lights and last ten times longer.Īlmost all electrical appliances can be turned off at the plug without upsetting their programming. Turning off your lights when you’re using them and replacing the lights in your home with LED bulbs can also help you save money on your energy bill. You can save around £40 a year just by remembering to turn your appliances off standby mode. Find more tips to eat well for less here. Choosing veg over meat and fish and batch cooking can also help to save costs. Save money by preparing and cooking your own meals as this is generally cheaper than buying takeaways or ready meals, and healthier too!ĭraw up a weekly meal plan using up ingredients you already have and make a shopping list of any missing items - shopping online can also help you to reduce costs. By looking for ways to save money, you may find increased food costs easier to deal with. Your food shopping is one of the biggest costs you have to budget for. If you’re struggling with housing payments, local authorities can award a discretionary, limited and temporary housing payment to claimants if existing benefits do not cover housing costs. There is also the Warm Home Discount Scheme, which could help you get £140 off your electricity bill this Winter. Households could get up £350 this year to help with rising energy prices. There are also many grants available to help you with rising energy prices. From insulating your house to making regular hot drinks, here are some more tips to help you keep warm this winter. Adding layers and blankets before turning on the heating can also help to keep away the cold. Keeping your thermostat at a lower temperature around 17 degrees can make all the difference. Turning your heating down by just one degree could save up to £80 a year. There are also some saving schemes to help families on a low income.Īlmost half the money spent on energy bills is absorbed by heating and hot water costs. You can try haggling to get the best deal - find more tips to help you get the best deal here. If your bill's going up, or you're on a promo deal that's ending, switching isn't the only way to cut costs. This includes phone, broadband and pay-TV services. Lots of people are looking at ways they might be able to save money on the services they use every day. So, if there are streaming services or gym memberships that you are not getting good use out of, now's the time to ditch them – or to make a note to cancel them ahead of renewal. Once you understand how much money you are spending, you can then work out how much you could save if you stop spending on non-essential items.Īccording to Barclaycard Payments, households spend around £500 a year on subscriptions. You can use this tool to help you understand your money - or an online budget planner. Work out what money you have coming in and what money you have going out – be as detailed as possible to capture everything. This will help you to understand your spending habits, monthly income and overall financial position. The very first step you should take when trying to reduce your cost of living, is to manage your money and set a budget. Even if you're feeling financially OK at the moment, it pays to start planning ahead in case money becomes an issue in the future.ġ0 tips to help you reduce your cost of living: 1. With this in mind, we’ve pulled together some tips, advice and tools to help you cut costs at home and save your hard-earned cash. In our recent health and wellbeing survey, we found that 1 in 5 people are struggling to meet the rising cost of living such as energy bills, petrol & food. The cost of living is the amount of money needed to cover basic expenses such as housing, food, taxes, and healthcare in a certain place and time period.
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