Household living costs are skyrocketing and seem set to keep rising throughout the year. Here are our 12 top tips for coping with the rapidly increasing cost of living – ways to earn more, spend less, and invest in your future.
Whether it’s refilling your petrol tank or paying at the supermarket checkout, the higher cost of living is hitting every household hard.
Across the world, everyday essentials are surging in price, up 7.2% year on year across the OECD. Unfortunately, experts predict that prices will keep rising for at least the rest of the year.
What can you do to try to keep up with the increasing cost of living? Here are our 12 top tips:
Look for ways to earn more
Cut back where you can
Invest in your future
If prices rise by 7% this year, it won’t be easy to increase your income by the same amount. But if you can increase your income by 5%, then make up the rest through savings, while also investing for the future, you can still come out on top once inflation settles down and prices stabilise.
Worried about money? Talk to us. We have years of experience through many economic cycles, including previous periods of high inflation – and we’re always here to help.