7 tips to manage the cost of living crisis
Sophie GriffithsTTG has teamed up with Abta LifeLine and Citizens Advice to focus on ways to save money this winter as the country continues to be gripped by a cost of living crisis.
In a dedicated seminar, Rosi Avis, partnership and communication lead at Citizens Advice Manchester, offered support and advice on energy bills, applying for benefits and how to budget effectively during the cost of living crisis.
Trudie Clements, director of Abta LifeLine was also on hand to offer support, and she stressed: “No one is alone in this current challenging climate.
"We were one of the industries that was hardest hit during the pandemic. A lot of people went on furlough or they lost their jobs, so financially they were struggling before we even went into this cost of living crisis. Now it’s like a second double hit.”
Clements said she had noticed a growing number of people contacting her who were dealing with “a lot of debt”.
“Sometime it is priority debt – so it’s about focusing on those key bills they need to pay such as council tax and rent or mortgage payments. And then we are also seeing a lot of non-priority debt on credit cards or store cards.
“People are asking for debt advice or help with mortgage or rent arrears. For those that are just about managing can we also give a bit of help with general living costs,” she added.
Avis explained that one big issue Citizens Advice was seeing was around energy bills, specifically pre-payment metres.
“More and more people are struggling to top up their pre-payment metres,” she said. “By October, the total number of people we had seen [struggling] in 2022 was more than the five years combined prior to that. It really is quite significant and we’re seeing people in extreme states of crisis.”
Seven ways to help manage the cost of living crisis as explained by Citizens Advice:
- Get a full benefit check. Don’t assume you’re not entitled to it – 40% of people on Universal Credit are in work. It’s worth applying, even if the amount is low, because it can lead to other support.
- Use a budgeting tool to be clear on what’s coming in/going out and identify if there might be any savings you could make.
- Look at how you pay your energy bills – you pay more if paying on receipt of bill rather than direct debit.
- Check you’re receiving the Energy Bills Support Scheme funds
- Check out whether United Utilities can help - they have several schemes to help with paying water bills
- Investigate community grocer schemes
- There is emergency support such as fuel vouchers – Citizens Advice can often help with this.
If you’re already in debt, this is what Citizens Advice advises:
- 50% of people Citizens Advice help with a debt issue are in a “negative budget” – that is they have more going out than coming in
- Work out what you owe, who to, and how much you need to pay back each month
- Identify urgent debts – council tax, rent/mortgage and fuel bills have the most severe consequences if you don’t pay
- Work out how much you can realistically afford to pay back – create a budget with income and essential outgoings
- Seek advice
- Watch out for Buy Now, Pay Later schemes – they aren’t regulated in the same ways as other forms of credit.
Find out more about Abta LifeLine here.
Email Trudie Clements at Abta LifeLine: tclements@abta.co.uk or call on 02036930170
Find out more about Citizens Advice here.
Email Rosi Avis at Citizens Advice: rosi.avis@citizensadvicemanchester.org.uk or call 0808 278 7800
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