According to the Office for National Statistics, 93% of adults in Great Britain reported an increase in their cost of living from August to September 2022. With winter on the horizon, it is important to know what help is out there for low-income households. Depending on your situation, there will be different types of help you can receive. 

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To start off, there are a couple of changes that anyone can make to get the ball rolling. The most obvious one I’m sure everyone has been told is to reduce your expenses. Now this isn’t me telling you to cut out fun nights out or cancel subscriptions to services you use every day. This is more facing the fear, looking at your bank account, preferably over the last 3 months or so and analysing your spending. Do you end up doing little shops every few days for convenience instead of planning your meals? Do you and your friends all have a separate Netflix account when you could share one? Little changes like this can make a big difference without feeling like you’re restricted day to day. 

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- Negotiating your bills is another simple way that you can cut down and it’s easier than you think - phone, internet, TV, car insurance and home insurance are all examples of bills that can be negotiated with your provider. Comparing providers is also key to lowering your expenses, always look for the best option and don’t let yearly payments automatically renew without doing your research first. 

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- Plan your petrol trips. As we know, petrol prices are still high so getting fuel for the cheapest possible cost can be beneficial. Instead of letting that dreaded petrol light turn on, check petrol comparison websites to find your cheapest local station and make time to go there to save yourself £5-10 each time you fill up. 

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On a more positive note, interest rates are increasing which is a great thing for savers. This means it’s a good time to check you’re getting the best interest rates for your type of savings account. All these little things will pay off, you just need to set aside a bit of time, do your research and get organised. 

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Below are a few examples of Government support schemes that you may be able to access. 

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- Cost of Living Payment - this is paid to people already receiving low income benefits and tax credits. A separate payment can be made to those that receive a Disability benefit or a Pensioner payment is for those entitled to a Winter Fuel Payment. 

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- Energy Bills Support Scheme - All households with a domestic electricity connection are eligible for a £400 discount on their energy bills for WInter 2022 to 2023. 

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- NI contribution thresholds - The threshold for which you pay National Insurance has increased to £12,570. This will help those on lower incomes and you should be noticing a little difference in your payslip. 

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Visit https://www.gov.uk/cost-of-living for more information on financial support. 

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