As many people know the cost of living is rising due to the impact Covid-19 has had on global supply. This in turn has made many products much scarcer which due to a higher demand than the supply can handle boosts the price. The measurements put in place in the Autumn 2021 budget announcement such as rises in the minimum wage will not be enough to make up for this. For this reason, it is now even more important to make savings in any area of your life you can. In this article we will be looking at some examples of savings you can make.

One area that has seen increases in prices has been crisps or other similar snack food or drink. This is due to the added difficulty of transportation caused by Covid-19. These items have seen an increase in price of over 7%. That increase may seem insignificant as these items are priced cheaply for individual units however many people consume these items daily which adds up to a lot over the span of months or a year.

Another more well documented and well-known area costs are increasing is energy prices. Customers of suppliers that have gone bust have been moved onto other suppliers with more expensive deals. The suppliers that remain have been forced into upping their prices to survive. These rises in prices mean that people must budget for their heating vigilantly and use it efficiently.

Changing your light bulbs is another great way of cutting down your energy expenses. By purchasing bulbs from you can make financial savings without having to compromise on the brightness. Some prices may be higher at initial purchase but due to their efficiency and how long they last the cost is more than made up for.

We hope you can use this information to make positive changes in your finances. If you would like any other help please get in contact it’s completely FREE!

By Matthew Cliffe

Hello, I'm Matthew Cliffe I work with The Money Guy managing social media accounts, writing articles, video editing and more. I hope to help grow the brand and develop my skills and experience within the industry.