Cost of living crisis

Cost of living crisis… or cry-sis?

These days it's almost as if bills are sent to us to test our faith and emotions. The price of practically everything has gone up and inflation has hit an all-time high.

You may feel helpless and like debt is the only answer (taking out loans, maxing out credit cards...) but honestly, there's things you can do to help yourself. Let's start off with the major topic of discussion - energy bills.

Turning off the heating may not be the answer, but there's ways to make your energy use more efficient: - turn the heating off in rooms that are not occupied - heat the house then turn the hearing off - turn off lights in rooms that are not occupied - bring the household together to watch TV in one room Now on to Christmas. This year, if your budget does not allow for presents, do not force it. Don't have a budget? It's about time you put one together. The word of the year is 'no'. You do not have to be harsh, but you must be realistic. Finally, steer clear of ‘upgrading your lifestyle’ when your focus should be being savvy and saving.

Avoid feeling a major pinch by: - not upgrading your phone if you don't need to (sim only deals all the way!) - not changing your car if it works perfectly fine (or sell it if it’s an unnecessary expense) - not just agreeing to price increases (shop around if you're told the price of something like your internet bill is increasing) - not buying a new outfit for every event (you have a washing machine, we won’t judge you!)

With the cost of living expected to increase in 2023, it’s time to start preparing your finances. Prioritise clearing down debt and keeping costs low.