We know that rising inflation and increases in taxes are set to leave millions worse off in 2022 and beyond. Households are already grappling with the worst cost of living crisis in a generation. Budgets have been further squeezed by a raft of price and tax rises, and inflation is the highest it has been for 30 years.

In this podcast, I offer ten tips to help you manage through this difficult period.

Key Takeaways

  • Save money on your energy bills. If you are finding budgeting for energy bills difficult consult your energy provider or a debt advice charity. Check out how to cut your energy use.

  • Try using a petrol price checker site to ensure you always buy your fuel from the cheapest source. Change your driving style to avoid hard acceleration and high speeds to reduce your consumption.

  • Plan your meals for a week and stick to it to avoid unnecessary impulse purchases.

  • Check if you would save money if switching to a water meter.

  • You can pay a lower Council Tax if you live alone and if you are in receipt of certain benefits or on a low income you can gain a reduction of up to 100%.

  • Review your bank statements and credit card bills to ensure you are aware of all your outgoings and cut out unnecessary spending. Draw up a monthly budget.

  • If you are paying high interest rates on your cards or loans then consolidate.

Get In Touch

If you would like some help with financial planning, get started with a free 30 minute call:

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TT Wealth May / June 2024 Newsletter
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