All of my bills are rising. As I get my annual statements I see that things like Council Tax have risen by 15%, and my water bill is up by £120. My insurances have risen, and prices of goods and services continue to rise. At the same time time the interest rate on savings accounts is falling. I have to face the fact that as things stand, I will be worse off financially again this year. My income may rise by a small amount if I am lucky, but it won’t meet the increase in all of my bills. I can moan, worry and panic, or I can make a plan to deal with these increased prices.
My preference is to be solution focussed. This is therefore my plan to deal with increased prices, which could be utilised by any one.
Review past spending
I will look at all of my bank statements for the year and see if there is any thing that I can cut. Are there any subscriptions, insurances, or any things that I can get rid of? Am I sticking to my budgets? Looking at my banks statements and calendar together, I will ask myself if there are any patterns to any unintentional spending? (Is it certain times of the month, when I meet certain friends, when I am baby sitting, etc?). If there is a pattern, what can I do to stop that?
Review budgets and find ways to reduce them.
Think about my priorities. Do we really need to have 2 cars and would life be really that bad with one? I do have caring commitments a long journey away. Mr S would need to be able to get to work early in the morning before public transport starts. I maybe need to ask myself if we need as many breaks away, or does my mental health depend on them? Examples for other people might be to ask themselves if they could cut one trip to the hair dressers a year and go every 7 weeks instead of every 6. Could they give up the gym and find other ways to exercise, etc?
It is about working out what is a priority for ourselves, as all our lives and values are different. A person might need the gym for their social life or health. Another person might need their hair doing often as their self esteem is low. There is no right and no wrong, even though people can be judgemental about our priorities sometimes.
Every little saving in every area adds up and makes a difference. An example is that we are using about 4 less toilet rolls a month less by being aware and intentional when we spin the paper. Over the last two years I have managed to cut my toiletry budget by a third by making little changes, one example being using bars of soap instead of liquid soap at the sinks. My cleaning and laundry budget has been cut in half by making my own products from natural products, eg washing detergent made from conkers. It is about where else has wriggle room to make savings?
Transfer money from one budget to another
Money saved or not spent can then be transferred to a different budget where the bill has increased and you have no control over it. I don’t feel deprived, and I don’t even notice the changes that I have already made in the past years. Examine all of your budgets and come up with creative ways that you can save. Review those budgets at least every month and don’t be scared to alter them if they are not working. My fuel bill has gone up a lot recently as I have been having to travel to care for my Dad. Money from my entertainment and cleaning budget will be transferred as it is underspent. Later in the year I may be able to put some back when his care is sorted and I can walk to places more often in the summer, and therefore use less petrol than anticipated.
Another example is that we have kept the same food budget despite a lot of prices doubling in the last 4 years. We did this by changing the way we ate, foraging, growing different foods, and finding local food waste projects. Sitting down and spending time brain storming has saved us so much money on food whilst improving the way we eat, and allowed us to increase other budgets.
We did the same with energy usage and water. It didn’t take long before we realised that we were spending a lot on energy by baking. The oven is crammed and only used twice a month now, and we use the air fryer instead. We even cook on foraged wood on the fire pit outside or on the wood burner some times. The heating is not on as often, and we utilise the heat of the conservatory on a sunny day. Examples that have saved us money on water are having more water butts in the garden, and flushing the loo with the saved shower water.
Look for free or cheaper resources
This doesn’t just mean trying to get better quotes for insurances or swap utility companies, though that is a good idea. It can also mean thinking outside of the box. Can you swop skills with a friend or family member? We have built a patio for some one in the past, and they did our gas checks. Can you share resources with anyone? We share power tools with family, toys, seedling, etc, and help each other with tasks so that we don’t need to bring in a company. Maybe you can find what you need on Freecycle or 2nd hand. Could you have a clothes swap party with friends if you have put on weight or are bored with them? A house swap could be a free way to get a break some where different. Maybe you could barter some eggs for bread, as we have done in the past.
Increase your income or find extra money?
Are you getting the best interest rates for any savings? Maybe you are paying high interest for debt? Do I have anything that I don’t want that I might sell? Is there any overtime at work? Can I earn any extra money through apps, cash back deals, on line surveys, etc? Would a family car boot sale be a good idea? Can I offer a service to earn a few extra pounds each week. These are just some of the questions to ask. In the past I have done bits of extra gardening for people, sold cakes, run wellbeing workshops, written for an online seed company, baby sat, and even cleaned when I was younger. Think about your skills and what might be needed in your area, or online.
Research
You are never too old to learn. Join groups on or off line, and watch YouTubes to look for ideas to save money. We have done a lot of DIY this way. We have a group at our local community fridge that shares ideas for saving money on food, and there are free wood making classes at a local community centre. There are also free FB plant swapping groups, and craft groups that will share their skills. Every day is a school day. I have been on free foraging walks, or learned from helping other people.
Learn a new skill to save money
In the last 10 years I have learned to forage, learned to preserve, learned to grow food, basket weave, and learned to build walls. Those are just some examples. I now want to learn to crochet and knit. All the skills that help us live more independently, will also save us money.
Examine your habits and routine
I have purposely changed my habits and routine to save money. We now do intermittent fasting which saves us money on food for breakfast and reduces snacking. Laundry is washed less often and showers have been reduced. We no longer make short trips in the car unless it is pouring down with rain. I always have a carrier bag in my handbag to save buying one. We realised that we were rarely watching television and so we got rid of the licence. I now stay in bed longer in a morning in winter to save on energy, and go to bed earlier for the same reason. It is easy enough to watch YouTubes or read in bed. By examining your habits and then altering them, it is often easy to find ways to save money. This can work with travel as well. We only go to the food project if we are already passing that way. I also time visiting a cheap petrol station when visiting my Dad as I have to pass it any way.
Connect with others, and your community.
One of my friends and I share petrol by taking it in turns driving when we visit a group each month. Maybe you could share taking children to school with some one local? We use the local warm spaces, visit the local table top sales, and the local community waste projects. I find out abut things through my village Face book page. Chatting to people at these places has also made me aware of more resources in the community. Face book and other on line communities (not particularly the local ones) have also given me great advice that has saved me money, or signposted me to free resources.
Keep positive and believe that you will be ok.
Mindset has a lot to do with whether or not you will just survive, or whether you will thrive. I feel like I have thrived during these past 4 hard years. Even though my income will now stretch to a lot less, I am more food secure and want for little. Thankfully, I no longer crave material possessions and can usually source what I need for free or second hand. I have also become more self reliant. My philosophy is that the Universe will always provide when I am really in need. This might just mean that I will come up with an idea or solution myself. However, believing has never failed me.
Being positive, and grateful, makes the world feel like an abundant place, rather than the scary place that the media would have us believe. I look for people that are positive with the same values as my own. Avoiding people that are negative or unkind is also one of my habits that I have altered. I no longer want them in my space, and have shocked some people when I have rejected them and walked away. Curve balls will hit all of us at some point, but if we adapt, are positive, grateful, solution focussed, and believe, I think that we will be ok. People have survived much worse times. We have totally got this!
Here are some other links that may help
11 ways to earn money if you do not have a job
My low income tips to survive and thrive
A few tips to reduce the cost of your weekly shop
Great article, you are so right about focusing on solutions. There’s much that we can’t change, we can only work on our own response to what is happening.
Thanks. Yes I agree.
A great article Toni I’ve definitely changed my shopping habits and only do a big shop very occasionally now, go to the food waste and local Olio definitely helped keep costs down. Now I’ve given up drinking practically only on holiday’s and special occasions now this has saved quite a bit as I’d easy have some bottles of wine over a weekend! I do more batch cooking as well,shop for the meat and fish deal’s at Christmas, Easter etc . It’s all about mindset as well we have to deal with what Life throws at us. Thanks for sharing.😍
Brilliant changes. Yes the mindset is the biggest obstacle for some people. Thanks for sharing
Another great article thank you.
Thank you
Thank you. Lots of information to think about. X
Thanks for your feedback
Bills certainly are rising and a cause for concern Toni however, we are in control of our own destiny so with some careful reviewing and planning I’m hopeful I can make some tweaks. I’ve gone from buying big monthly shops every month, to buying as required. Hubby goes out most days armed with his list of things that we require. Our food bill last year was slightly less than the year before, so I’m pleased with that, in light of rising prices. We make our sweet treats from scratch unless I’m having a bad week and then buy something on offer. Life is too short not to have a bit of sweet food. I just have to moderate how much of them I eat.
Absolutely. Every year I tweak things. It is amazing how the changes soon become habit. We love our baked treats but we are having to ration them mow as well, for health reasons. Well done with the food bill and thanks for sharing
I love this article because it makes me feel I’m not alone in this financial struggle a lot of us are facing. I’m so glad that I am frugal and enjoy the challenge of saving on the small things, even if it is only pennies. It reminds me of my mum when she told me once “look after the pennies and the pounds will take care of themselves.
I think gratitude helps a lot as I look at what I do have and not at what I don’t have.
Thanks Toni for another great post X
Gratitude definitely helps with mindset. There are so many people that are struggling financially. Unfortunately many people still have their head in the sand and are building up debt. Your Mum was right. Thanks for sharing
Hello it is a great article. I am thinking about buying air fryer. Are you able to somehow compare how much energy does it save compared to owen? We have owen which is like 20 years old it does undercook so we sometimes need to double the time for cooking. And energy spending is enormous.
I was thinking about buying new one or air fryer instead. My problem is if air fryer is energy saving compared to owen and where I will bake pizzas
I am not able to do a comparison myself but I have read a few. If you totally fill your oven up and cook about 6 things together, the oven is no more expensive. That is why I still use my oven twice a month and do a big batch bake. If you are cooking things individually, say a pie, or one batch of scones, the air fryer is cheaper. I like it because I can cook chips and things without using any oil and it also cooks things a big quicker. Some air fryers are better than others and so it is worth reading reviews. I have the cheapest Ninja one. The top lifts up so I can still put a cottage pie in there, or cook a pizza. I don’t like the ones with drawers.
Once again I wish to express my gratitude to this blog, which has been so very inspiring. I have just had a Eureka moment, inspired by your buying dried coconut milk instead of tinned. My main weakness is milk, I get through nearly a litre of skimmed milk a day :-) and prices have just gone up and up and up. Today I researched dried skimmed milk and find that bulk buying 25 kilograms can cut the price of milk to 38 % of the present price, a savings of 62%! Even the 3 kg packets are close to that in price. Furthermore it will reduce my need to go to the shops with petrol cost and all the temptations. Once every three weeks will suffice, bananas then being the limiting factor. Bananas will keep for 3 weeks in the bottom of the fridge – the skins rapidly go brown, but inside, the fruit is absolutely fine. I love my half banana on homemade muesli for breakfast.
And not having to cart the weight of fresh milk will mean that I can happily walk to the shops, it`ll do me good.
Yes we always have dried milk in. We just get a couple of pints of whole milk from the milk man, and water it down with a third water so that it is like semi skimmed. It more or less lasts us for a week but if we want to make custard or something we will use powdered milk to save going to buy extra. Great ways of adapting your food and life. Thanks for sharing
Thanks Toni, great tips. I do belong to our council gym but not on direct debit. It’s good value for me, swimming and classes, and walking distance away. I buy the winter membership offer, six months for price of five. I’ll probably then buy the same summer months offer, but there are more options for outside exercise then, so I could save that money if needed. Hairdressers – my hair is very low maintenance, I know I’m lucky. I started cutting it myself in lockdown and have carried on with that. Coconut milk – I use a block of creamed coconut, often it’s enough for four recipes for two folk, none wasted. Thanks for your inspiration. :-)