We all need to be creative in budgeting our household expenses these days as the cost of living is on the rise. Everyone now has to tighten their belts a little more and start budgeting.
But how? We asked our Head of Financial Education Jason Butler for his top top tips on what people can do to protect their finances and soften the blow of rising bills.
To help navigate rising costs and give you a roadmap, Jason’s created 'The G.U.I.D.E' which stands for:
Food is one of the biggest household expenses, with the average family spending over £3,300 each year*, but there may be tasty savings to be had.
There are savings and financial support available for some essential household costs.
Insurance can be expensive and occasionally feels like a nice to have - but it’s not. Make sure you’re protecting your most valuable assets and getting the best deal.
Debt repayments are a drain on your finances. Lowering repayments through lower interest charges can help you reduce outgoings and get out of debt faster.
Usually, you can look at changing energy providers to get a better deal. But at the moment, that’s unlikely to make a big difference. But there are schemes that can help.
If you have high cost debt and want to explore consolidating, Salary Finance may be able to help. At Salary Finance we take loan repayments straight from your salary which means:
To find out if a Salary Finance loan could help you consolidate your debt, visit: salaryfinance.com
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