Every week Clare Francis, financial journalist and editor of comparison site moneysupermarket.com will offer tips and advice on all things money-related to help iVillagers make the most of their hard-earned cash. From energy bills to car insurance; credit cards to children’s savings accounts; mortgages to discount vouchers Clare will show you how to make sure you’re getting the best deal
How inflation is eating into our everyday lives
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Rising living costs are having an impact on everyone. I was chatting to a friend the other day who said her weekly supermarket bill has gone up by about £60 (she’s married with two children) and her monthly direct debit for her gas and electricity bill has almost doubled over the past 18 months or so.
With the latest inflation figures, out tomorrow, expected to show the cost of living continuing to rise by more than 4 per cent, it’s understandable that so many people are struggling to make ends meet as salaries aren’t going up at the same rate.
The cost of petrol has also been in the news again over the past few days because wholesale oil prices have fallen in recent weeks but the price of a litre of fuel at the pumps hasn’t dropped back by the same amount.
We’re also being warned that rail fares could go up by more than 8per cent next year and there’s a risk some commuters could see the cost of season tickets rocket by around 50 per cent if new European rules are pushed through.
So what can you do to help ease the pain?
Regular readers of this blog will already know that there are probably some simple steps you can take which could save you a substantial amount of money.
Utility bills
Energy prices are in the news again as around nine million British Gas customers will see their bills rise from Thursday this week. Scottish Power has already upped its charges, while Scottish & Southern Energy and E.ON are due to hike prices next month. An announcement of higher charges from EDF Energy also seems imminent after the energy giant pulled its cheapest fixed rate tariffs from the market.
Despite rising prices, the majority of households could save money on their gas and electricity bills. If you haven’t switched energy tariff in the last 12 months, you are probably paying your provider’s standard prices. However, you could save an average of £256 by switching to the cheapest tariff. It literally only takes a few minutes to find the best deal for your circumstances, so there’s no excuse, this is definitely something you can sort out today.
Vouchers and special offers
We are fast becoming a nation that loves to bag a bargain, but if you have yet to join this party and aren’t in the habit of searching for discount vouchers before you hit the shops, then it’s time to see what you’re missing out on. You can find all the latest deals and offers on moneysupermarket.com’s voucher channel.
Plan ahead
Planning a menu for the week can really help keep your supermarket bills down. The supermarkets are doing loads themselves to help give customers recipe ideas for low-cost family meals. Alternatively, if you’re like me, getting the cook books out for inspiration of what to cook next is a bit of a weekend pleasure rather than a chore.
Once you’ve planned your meals, write a shopping list of everything you need and stick to it – don’t be tempted to throw in any extras as you’re wandering up and down the supermarket aisles. Take advantage of special offers – but only if they’re on products you need anyway.
If you have a tendency to succumb to the supermarket’s marketing techniques, then doing your supermarket shop online can help remove some of the temptations that lie in the store and keep your bill down.
Let us have your ideas
If you have any money-saving or budgeting ideas of your own, we’d love to hear them. Why not share them with other iVillagers on the iVillage message boards.
- Follow these 10 steps to becoming debt free
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- Get organised with a dedicated four-week lifestyle plan
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