Cost of Living has increased by 18% in the last year

The cost of living is believed to have increased by 18% over the past year. Much of the increase in our supermarkets is due to the decline of our currency on the exchange rate market against other major currencies. Goods and services are today more expensive than twelve months ago. Household budgets look to be squeezed even further this month, the 1^st of April was the trigger date for more price hikes.

This month’s cost of living increases

1. The postponed fuel duty has come into effect this month and fuel now costs a further two pence a litre more.  The average driver will see an increase of £104 a year.
2. Turning on our water tap has become more expensive by over 4% with the average water increase being £300 a year.
3. British Telecoms has increased it line rental up to £138 to £150 a year and increase of £12.00 a year.
4. Prescription charges for medicines has increased from £7.10 to £7.20
5. Television Licence fee has gone up from £139.50 to £142.50 a year

There is very little that most of us can do to avoid these increases unless you stop using these services. How can you beat the squeeze and saving money?

Well you should start looking at your own finance within your own household and start managing them in a lot ore concerted and focused way. During the good times we don’t look at these kinds of savings but when the bad times arrive we need to take control of our spending and start to save money where we can.

Here are some Grocery Shopping tips:-

1. Use own brands from the supermarkets
2. Look at shopping later on during the day when the bargains are on
3. Use internet shopping to avoid transport costs - coupons for free delivery are available by googling free supermarket delivery.
4. Shopping online means that you don’t impulse buy the items you would have bought as you walked around the store.

Your thoughts, experiences and comments are welcome. You can join the discussion below and leave your thoughts and experiences.