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. Tony offers 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.

BEST MOMENTS

‘The government website which is simply “Energy Advice” has tips on how to keep your energy bills down so that’s worth checking out.’

‘You can use The Consumer Council For Waters calculator and if you are on certain benefits and have a large family or someone with a particular medical condition you may qualify for the Water Sure Scheme, which caps water bills.’

‘Check if your are entitled to state benefits. Billions of pounds of state benefits go unclaimed each year and you could be missing out. The national charity “Turn 2 Us” has a free and confidential benefits calculator on its website.’

VALUABLE RESOURCES

Government Energy Saving Advice

https://www.simpleenergyadvice.org.uk/

Fuel Price Checker

https://www.petrolprices.com/

Water Sure Scheme

https://www.citizensadvice.org.uk/consumer/water/water-supply/problems-with-paying-your-water-bill/watersure-scheme-help-with-paying-water-bills/

Turn 2 Us Benefits Calculator

https://benefits-calculator.turn2us.org.uk/

Money Helper Budget Planner

https://www.moneyhelper.org.uk/en/everyday-money/budgeting/budget-planner

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ABOUT THE HOST

Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.  

“Live For Today, Invest For Tomorrow”

CONTACT

Tony’s official website: https://ttwealth.co.uk/

Facebook: https://www.facebook.com/TonyThomas.IFA/

LinkedIn: https://www.linkedin.com/in/tonythomas2/

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