Household Finances in Chaos
According to BBC News Britain is facing its biggest cost-of-living crisis on record as cost-of-living increases eat away at household finances.
In the Guardian newspaper, this article has a report. In it, it says that the Office for Budget Responsibility said this in November 2022. “all household’s disposable income will fall by 4.3% during 2022-2023. This is the largest drop since comparable records began in 1956”.
Households are having to find on average, an extra £60.00 a month to cover energy bills, around £25 on food and then of course there is the certainty of higher mortgage costs as rates rise in 2023.
Whilst the average UK householder is now seeing a reduction in the amount they can save each month, they are also cutting back on spending. Less well-off families are struggling and many now have to choose between paying an energy bill and being able to eat more than once a day.
More and more people are now depending on food banks to feed their families and these people include NHS workers, pensioners, and teachers.
So, just what can the average household do to make sure that bills are paid, and the family eat properly? We’ve been looking around the web to find the best tips. We’ve used publications such as Which magazine and organisations like the energy savings trust. And now we can pass on some helpful tips and advice for saving energy and reducing your bills. And, here at VSM Pharmacy, we’ve got some news about buying basics.
Energy Savings to beat the cost of living crisis
Insulate your home – Make sure you have the right amount of loft insulation, your windows and doors are draughtproofed, your pipes have foam tubes fitted and your hot water cylinder is insulated with a jacket. These small fixes will ensure that the heat from your home isn’t lost and an affordable fix such as a hot water jacket could save you as much as £70 in a year.
Appliances
Old appliances will use more energy and therefore cost you more. If you can replace an old appliance with an energy-saving one you could find a reduction in your yearly bill. For example, an energy-saving Fridge-Freezer could reduce your bill by around £167 a year.
Other ways to save money include reducing the temperature of your washing machine and only running the dishwasher when it is full. Appliances with ECO settings will also help you to reduce your energy spend.
Boilers
Make sure your boiler has a once-a-year service to make sure it is working properly. If you have a condensing combi-boiler, have the flow and temperature adjusted which will make it run more efficiently. Lowering the flow on your gas boiler might just save you between 6% and 8% on your gas bill.
Heating
Turn radiators off in rooms you don’t use and lower the temperature in rooms that are used, but not all the time. The Energy Trust say that turning your heating down by just 1ºC will save around £145 a year, that’s worth putting a jumper on when you’re at home. A comfortable temperature is between 18ºc and 21ºc.
Water
Saving water will also help to reduce your monthly bill. The most important thing to do is check for leaks because this is literally throwing money down the drain. Take a shower instead of having a bath. A shower uses around a third of the amount of water you will use in a bath.
Turn off the tap while you are brushing your teeth or shaving. Use a washing-up bowl for rinsing plates and cups and also for washing vegetables. If you can fit a flushing device in your toilet cistern, you’ll find you can save up to 3 litres of water with every flush.
Buying the basics and saving money
While some food choices are just that, things you choose to buy we know our customers don’t have a choice when it comes to buying essential baby products. When you need baby wipes and nappies you have to pay the prices that shops like Boots and Sainsburys are charging.
That’s why we’ve come up with an agreement with some of our suppliers to provide essential baby items at lower prices. You might even find our pharmacy baby products are cheaper than brands sold in popular supermarkets. We have also made an effort to reduce other essential items on our shelves in order to help the community in the fight against the cost-of-living crisis.
If you want to see our price reductions, come along to VSM Pharmacy, and talk to a member of staff who can help you purchase essential items at lower prices. Alternatively, why not browse our prices from the comfort of your own home on Google?