Household Budget – How To Get The Most Out Of Your Money
With the Budget for consumers in the UK on the way, many are foreseeing the surge of taxation will leave them will less finance to make ends meet.
This is believe to be the case by the consumer watchdog – uSwitch.
Michael Ossei, personal finance expert at uSwitch.com pointed out that consumers are anticipating the upcoming Budget with a mixture of feelings – mainly dread & despair.
With the cost of living continuing to rise, people are hitting a brick wall on how to stretch their finances even more in order to make ends meet.
With salaries failing to deliver, more and more consumers are turning to debt just to stay afloat and by doing so have caused them to enter into dangerous financial situations.
Homeowners across the UK property market are not so lucky as they have been badly hit with costs of ever increasing charges leaving them struggling to make things work.
uSwitch said that the price of essential spends has risen by an average of 25% per household in the period since 2008, with gas and electricity bills being two of the largest players in this, rising by 52% and 32% respectively.
There are measures that can be taken to help reduce spending too much on bills mainly cutting down the usage of the two main utilities – Electricity and Gas.
A simple gesture of turning the light off when you are not in the room can help reduce the amount you spend on bills, limiting usage of electricity, using it only when necessary.
Gas is one of the biggest issues for most UK residents, with the temperatures in winter meaning that you just can’t go without turning your heating on, you could however, turn in down to one or two degrees.
It might not make a noticeable difference in the air but it does so in the amount your pay for heating bills.
Another option can be to use electric storage heaters, which make use of cheaper utilities throughout the night to keep heat for use at peak times.