Households across the UK are having a hard time keeping up with living expenses, due to the rising cost of living, but here at Citizens Advice we are here to help. Individuals are facing an uncomfortable series of price increases that will significantly affect their monthly expenses. For many people a cost of living issue is nothing new, but more families are feeling the pressure now, and those who are already struggling financially are being impacted more severely.

Due to rising energy and fuel prices as well as grocery prices, consumers in the UK are seeing a decrease in disposable income. It is becoming more difficult for families and individuals to manage the cost of daily life as a result of rising inflation, as well as recent tax increases. Read on to discover tips and strategies that might help you navigate the current cost of living crisis.

Look for potential council tax reductions

You may qualify for a substantial council tax cut if you live alone or with children, are a student, or have a low income. Those with low incomes, those who get benefits, and those who receive pension credit may also be eligible for a discount. Go to GOV.CO.UK and check with your local council to see whether you are eligible for a discount on your Council Tax.

Keep yourself warm, not your house

The rising cost of living has had and will continue to heavily impact energy bills. As of this, millions are looking to significantly reduce their energy usage. Keeping yourself warm as a strategy to reduce energy bills has proven to be one of the most affordable ways to stay warm. Heating up your home requires a large amount of energy and so does maintaining this temperature. So, try to wear extra layers of clothing, use foot warmers, heat pads, hot water bottles and blankets for additional warmth.

Check if you’re eligible for pension credit

Pension credit is a means-tested, tax-free benefit that can be worth thousands of pounds annually and is intended for retired individuals on low incomes. Additionally, it serves as a starting point for other benefits, such as council tax discounts, free TV licences for people over 75, council tax discounts and more! Check here for your pension credit eligibility.

Cancel any unused subscriptions

It can be simple to lose sight of what subscriptions we are actually signed up for and using. There may be subscriptions you are paying for but don’t use very often. Looking to see which subscriptions you utilise regularly can help you save money. Cancelling a few minor subscriptions can improve your long-term finances and provide access to extra cash every month.

Compare insurance prices

Search for the best insurance deals! Finding more affordable insurance options is one strategy for surviving the UK’s challenge of rising living costs. Over the course of your life, you will enrol in a variety of insurance plans such as vehicle insurance, housing insurance and contents insurance. The total annual cost of your different insurance payments can be staggering. You can lower these expenses by looking around for more affordable insurance options.

Switch supermarkets

The price of supermarket goods is being impacted by the cost of living crisis, despite the fact that many of us have a habit of sticking to the same store as part of our routine. It is worthwhile to spend some time comparing prices amongst shops. Also, don’t forget to take advantage of the discounts and benefits that the majority of supermarkets give!

Reduce your fuel expenses

Fuel is another burden to people’s rapidly decreasing disposable income. Your fuel consumption can be decreased by only making necessary trips, driving slowly instead of over accelerating, travelling with less items in the boot, and checking that your tyres are inflated properly.

But lowering the price you pay for petrol up front is the simplest approach to reduce the expense of filling up. You can download apps, which use GPS to compare local petrol and diesel prices, so that you can get the greatest deals. Remember to plan your trips carefully as supermarkets often have the lowest prices and motorway service stops contain the most expensive.

To help you manage your money, discover our budgeting tool to help you work out your budget. Our tool helps you to understand what you’re earning and spending, as well as where you might be able to cut costs. If you’re worrying about or struggling to meet your monthly expenses, CACV is here to help.

Here at Citizens Advice Cardiff & Vale, we provide free, confidential and impartial information and advice to the residents of the City of Cardiff & The Vale Of Glamorgan. For jargon free help and advice, please Contact Us here.