The news in this last week has been tough to take.
The huge increases in energy costs, and how the extra load may impact us, is acutely worrying. And unfortunately, there’s no immediate relief.
The best thing we can do right now is also one of the most difficult: we need to face it.
We need to look the crisis in the eye, give it air, and determine what it means for us.
Where’s your spending?
A good starting point is to understand exactly where your money goes right now.
What do you spend on bills, food and other vital day-to-day expenses? Can you shop around for alternatives and / or find money-saving offers?
Now think about your less essential spending. What you can cut? What things don’t add value? Can you be more careful or less wasteful in what you buy and use?
Becoming precisely aware of your financial situation can be rough, but awareness will help you feel more in control.
Reality might be unpleasant … but at least you’ll know where you stand.
Extra help – get it / give it
If you need guidance in conducting a spending review then maybe someone you know and trust can help. If not, both Turn2Us and the Citizen’s Advice Bureau list out resources and support that could be available to you.
And if you’re in a position to help others then please do consider it. You can donate to charitable organisations, or even give your time to support those who need to talk and offload their worries.
We’re here too. If you have any money questions or want our help then just ask. We’ll do our best to support you and direct you to further services or guidance where we can.
Nine in ten are feeling it
Recent stats show that nine in ten (89%) UK adults – or 46 million people – now report an increase in their living costs. Nearly half (48%) of us now worry about money at least once a week.
Money is dominating our thoughts right now yet the majority of us still don’t want to talk about it. A recent survey by The Money and Pensions Service found that some 29 million Brits don’t feel comfortable talking about their financial situation.
If ever there was time to open up – it’s now. Times are the tightest they’ve been for a lifetime and we need to break the silence.
Talking about money and where you’re at may not erase the situation – but there’s comfort in sharing the load. There is relief in identifying that we are, the majority of us, facing the toughest of times together.
So let’s please talk about money. Speak to your loved ones. Speak to charities and organisations. Speak to us …