*This is a guest post*
The COVID-19 pandemic was tough for us all- but now with what it seems like the worst behind us, another roadblock appears to be affecting the stability of the British public. The cost of living crisis is impacting various families around Britain, but what do people really think about the cost of living crisis, and how is it affecting individuals directly?
According to a survey by Viessmann, over a quarter of their respondents (26%) claimed that they have £100 or less to spend after all of their bills are paid for. Slightly fewer people (16%) said they have £200 to £300, 12% revealed they have £300 to £400 and just over a quarter (26%) of people are left with anything from £500 to £1000 or more. The 26% of respondents find themselves in a difficult situation, especially if they are required to supply for their family as well as themselves. However, many respondents from Viessmann’s study suggest they have made the relevant cuts on some of their luxuries in order to cater for the cost of living crisis. For example, nearly one in 10 people (8%) have made an effort to drive less frequently, nearly one in six people (16%) said they have made a conscious effort to reduce their weekly shop, and 7% of respondents suggested they have cancelled TV and movie streaming subscriptions such as Netflix and Disney+.
It is evidently clear that most people will have to make changes in order to save and reduce their outgoings- and many people are concerned about how much money they are spending during the current crisis. Changes such as using smart appliances to be more energy efficient, purchasing an electric car, and choosing your energy source (gas or electric) based on what is most important to you will certainly help you bring down your overall spending.
How is the cost of living crisis effecting you?
Thank you for reading.
