Getting through the cost-of-living crisis

▤ Summary

Just as we thought we were coming out of the financially turbulent years of the pandemic, the war in Ukraine took most of us by surprise. And having a budget that accurately includes all your income and expenditure, will help identify where there are places where purse strings may need to be tightened, or indeed, where there is room to relax a little. If you are looking at your budget from the perspective of your early years setting, then there are lots of ways that you can get financial help through grants and other benefits schemes. Once you have a budget and have maximised your income, the final step is to make sure you spend your money wisely and live within your means. • Turn the heating down/off in rooms you don’t use – ‘heat the person, not the room’ and set thermostats on radiators • Make use of railcards or season tickets for travel • Don’t go shopping when you’re hungry and learn your buying triggers to help avoid them • Make use of charity shops and preloved items • Buy things with a friend to get bulk discounts • Make do and mend – repair things before you throw them out • Buy less meat or cheaper cuts – chicken thighs instead of breast for example • Put on a full load of washing to be more efficient • Put extra blankets on the bed rather than turn up the heating • Look in the sales but don’t be misled – only buy what you really need • Shop around for the cheapest petrol – see https://www.petrolprices.com/ • Switch your energy supplier to the lowest tariff – see uswitch • Car share or take the bus • Extend the time between hair cuts by a month or two • Make use of vouchers and loyalty schemes • Look out for free websites and giveaways – e.g. https://uk.freecycle.org/ • Make use of refilling centres and stop paying for packaging • Buy fruit and vegetables loose from a market stall or local seller • Switch to non-branded items or supermarket’s own brand • Check all mobile and phone contracts then switch to cheaper options when out of contract • Check newspapers and magazines for 2-for-1 offers and vouchers • Check your bank account for unused subscriptions or repeating charges you don’t use or need • Use comparison websites to compare financial products on insurance, energy and credit cards • Keep positive and keep smiling!

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