Cost of living

The cost of living crisis has placed real pressure on households across the UK. Rising energy bills, food prices and housing costs have meant that many people are trying to make ends meet on incomes that simply have not kept pace. Budgeting at home is no longer just a good habit – for many, it is essential for day-to-day survival. While budgeting cannot solve every financial problem, it can help people regain control, reduce stress and make limited money stretch further.  

List your income and spending

The first step in budgeting is understanding exactly where money is going. Writing down all income, including wages and benefits, and listing every regular outgoing can be eye-opening. Priority expenses such as rent or mortgage, council tax, energy, water and food should always come first. Once these are clear, it becomes easier to see where small changes can be made without risking essentials.

Tips to reduce food costs

Food costs are one of the biggest pressures for families. Planning meals in advance, cooking from scratch where possible and shopping with a list can significantly reduce spending. Supermarket own-brand products are often just as good as branded alternatives at a fraction of the cost. Making use of reduced items, freezing leftovers and avoiding food waste can all help stretch the food budget further. Community resources such as food banks and community pantries exist to help during difficult times and should be used without shame when needed.

Keeping energy costs low

Energy bills remain a major concern. Simple actions such as turning off unused appliances, lowering thermostats slightly, using energy-efficient light bulbs and washing clothes at lower temperatures can make a noticeable difference. Checking eligibility for energy grants, the Warm Home Discount or other support schemes is also important, especially for households on low incomes or with health vulnerabilities.

Help with debt

Debt is another challenge many people face during the cost of living crisis. It is vital to deal with priority debts first, such as rent, council tax, gas and electricity. Free, confidential debt advice is available in the UK from organisations such as Citizens Advice and StepChange. No one should feel pressured to pay for debt advice when help is available at no cost.

Make sure you're getting everything you're entitled to

Finally, budgeting should include checking benefit entitlement. Many people miss out on support simply because they are unaware of what they can claim. Universal Credit, Council Tax Reduction, Disability benefits and Carer’s Allowance can make a crucial difference to household finances. Online benefit calculators can quickly show whether extra help may be available.

Budgeting during a cost of living crisis is not about being perfect or cutting out every small pleasure. It is about making informed choices, prioritising essentials and seeking support when needed. With the right tools and help, even on a limited income, it is possible to stay afloat and protect financial wellbeing during challenging times.

 

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If you want someone to talk to, talk to us. We’re here to help. You can call us on 08081 311 333 or chat with us online.

We are here for anyone who works, or had worked in UK Automotive, and their family dependants. If you’re not sure if or how Ben can support you, please get in touch. Our friendly helpline team will be able to chat through your options and support you in a way that works best for you.