Living in the UK can feel financially overwhelming. The cost of living just keeps rising. Whether you’re facing higher grocery bills or trying to keep utilities in check, a manageable budget can make a big difference. From housing and transport to day-to-day spending, here are some quick and easy practical tips to help keep your finances on track.
Food and bills: Everyday money-saving hacks
From food shopping to energy bills, simply just paying for essential living expenses is proving to be increasingly difficult for many people.
Grocery costs can just spiral out of control, especially if you have kids. Good old-fashioned meal planning and batch cooking can go a long way toward reducing food expenses. Make a shopping list once you know what ingredients you need and, most importantly, don’t be tempted by off-list purchases. Shopping at budget-friendly supermarkets such as Lidl, which often have brand names at lower prices, can also help.
Also, loyalty schemes, and discount apps like Too Good To Go, which connect you with venues that offer cheap surplus food, can stretch your pounds even further.
You can also cut utility costs with some simple changes. For example, try turning down your thermostat by just one degree. Switching to energy-efficient appliances such as induction cooktops can also ease your monthly outgoings.
Managing utilities, council tax and other household costs
Housing and utilities take up a large portion of household budgets. Whether you’re renting or paying off a mortgage, review council tax bands to see if you qualify for discounts such as those available for single people.
Use popular comparison tools such as MoneySupermarket to easily find the best rates on gas and electricity. If you want predictable bills, opt for fixed-rate tariffs for greater control over monthly spend.
If you’re planning a move, look into new build homes, which come complete with energy efficiency features such as excellent insulation and modern heating systems. With energy prices constantly rising, investing in these homes will reduce your long-term utility costs.
Cut travel and transport costs
Getting around doesn’t have to break the bank. If you commute regularly, weekly or monthly travel cards can work out cheaper than paying as you go. In London, Transport for London’s Hopper fare lets you take multiple bus journeys within an hour for free.
If you live outside of London, keep an eye out for news of regional fare caps. Also, if you’re a student or a jobseeker, you might be entitled to travel discounts.
Cycle everywhere as much as you can – it’s not just the most affordable commuting option, but the healthiest and most eco-friendly. Check to see whether your town or city offers a bike hire schemes. If you plan on buying a cycle to commute to work, ask your employer if they participate in a Cycle2Work programme that provides tax-free bike purchases.
Stay financially confident in the UK
Living in the UK on a budget is a challenge. However, with a few painless adjustments, it’s possible to stay on top of your finances. Whether it’s changing your shopping habits, reviewing household essentials, or rethinking your commute, it can all add up to long-term gains.
