How To Cope With The Cost Of Living Crisis 

For many, The Cost of Living Crisis will have an effect on our lives. With bills to get even higher next month, how will it impact you? We are looking at How To Cope With The Cost Of Living Crisis.

The cost of living crisis has been caused by price increases across our everyday essentials. Including food, petrol and household bills, and for those with children. Adding the cost of childcare, school uniforms and activities on top of that. It can be an extremely difficult and daunting time.

Viessmann, leading providers of climate solutions for all living spaces. Has recently launched a campaign which analyses the cost of living crisis on a wider scale, even discussing how this will affect remote workers vs office workers!

Disposable Income

Many use their disposable income as a means for socialising. Having fun and treating themselves to a hard earned gift to themselves. However, during these months where money is becoming tighter and tighter. We are seeing less at the end of the month, which can be extremely daunting! 

Viessmann carried out a survey, which found that over a quarter of respondents have £100 or less at their disposal. Whilst another quarter have anything from £500, to £1,000. It is clear that this crisis will affect others worse, which is why discussing money concerns is important.

Think Smart

Smart appliances are popping up in homes across the country, and it is easy to see why. Despite the sometimes often high upfront costs, being able to see how much energy we are using on a daily basis is extremely handy, especially during a cost of living crisis. It allows us to monitor our consumption and alter it if needs be. 

Electric cars are also increasing in popularity, but a third of respondents said they wouldn’t consider buying an electric or hybrid car until petrol/diesel cars get banned, which is expected to be in 2030. Although electric cars are expensive, including ev charging stations in Melbourne, you will of course be saving money on fuel, as well as helping lower your carbon footprint!

Side Hustle 

Since the pandemic, many people have picked up side hustles to earn extra money, or even start a new career for themselves. For stay at home parents, this can be a lifeline for earning more money to top up maternity pay, especially during the cost of living crisis. 

With many side hustles available, 29% of respondents said they sell products via Etsy or eBay to pick up extra pennies and just 6% offer a service, such as babysitting or gardening. Almost 50% complete online surveys, offering some peace of mind to some that there are ways to earn extra money! 

There is of course no denying that the cost of living crisis is affecting families up and down the country, and with bills set to rise, it doesn’t seem to be easing up anytime soon. However, with people making changes to help ease the financial burden, hopefully some of the concern can be alleviated. If you have been affected by the cost of living crisis, or want to share how you are managing your energy, join the conversation on social media using #BritsOnCostOfLiving.