Take Control During Challenging Times
The rising cost of living is something no household can afford to ignore. With energy prices increasing, fuel costs soaring, and everyday essentials becoming more expensive, it’s no surprise that many people are feeling the squeeze.
Combine this with changing mortgage interest rates, higher taxes, and global uncertainty and it’s clear why budgeting feels tougher than ever.
At Northern Community Bank, we understand the pressure these challenges can create. That’s why we’ve put together some simple, practical tips to help you save money.
Practical Tips to Help Ease the Pressure
1. Choose Energy Efficient Appliances
Replacing an old washing machine or fridge freezer? Choose energy efficient models to lower your energy bills. Switching to an eco-friendly tumble dryer could save you up to £100 a year. Even lowering your thermostat by just 1°C can make a noticeable difference.
A hot water bottle under the duvet 30 minutes before bed is a simple, cosy alternative to cranking up the heating.
2. Find the Cheapest Fuel Nearby
Don’t let fuel costs drain your budget. Use free websites like PetrolPrices to find the cheapest petrol or diesel in your area, ideal for regular commuters.
3. Ditch the Gym Membership
Staying healthy doesn’t have to cost a fortune. Cancel unused memberships and explore free fitness options like local park runs, group walks with friends, or your workplace’s Cycle to Work Scheme.
4. Be a Smarter Shopper
Groceries are getting more expensive, but there are ways to cut costs:
- Compare supermarket prices
- Choose supermarket own brands
- Buy in bulk where it makes sense
- Use vouchers or discount codes when available
5. Cancel Unused Subscriptions
It’s easy to forget about free trials or streaming services you no longer use. Review your recent bank statements and look for direct debits that can be cancelled.
Always cancel the subscription directly with the provider before stopping the payment.
6. Browse in Incognito Mode
Going “incognito” on your browser prevents companies from tracking your online habits, helping you avoid inflated prices or targeted ads that tempt unnecessary purchases.
7. Set Small Saving Goals
Start small: cut out a £5-a week expense (like a takeaway coffee or a lunch out), and transfer it to a savings account. Over time, these small steps can build up a helpful emergency fund.
8. Check for Support and Benefits
You may be entitled to financial support or benefits without even realising it. Use online tools or contact your local authority to make sure you’re receiving everything you qualify for.
Need a hand? Your local council can signpost you to helpful organisations.
9. Talk to Us
Northern Community Bank may not be able to stop rising costs, but we can support you in managing your money more effectively. Whether you need help budgeting, building up your savings, or borrowing affordably, we’re just a phone call away.
