Top tips for to help with the cost-of-living crisis 
Regardless of your financial position we are all feeling the pinch at the moment as it feels like the cost of 
everything is going up. From the cost of food, fuel, energy to borrowing money, all things are costing 
more these days so it feels like were being squeezed from every angle. Some are feeling it more than 
others but there are things we can all do to make life easier during these times. So we put together a list 
of tips that you can implement to save you money and get it to work better for you. 
1. Review your mortgage 
For most people your mortgage is your biggest expense each month and where you can make the 
biggest saving. Reviewing your biggest outlay will have the biggest impact on your monthly expenses. If 
you have moved off your fixed rate and onto the lenders standard variable rate you could make a saving 
by finding a new fixed rate deal. Another option could be to extend your mortgage to spread the cost of 
borrowing and reduce your monthly payemnts. 
2. Look to consolidate expensive debt 
Credit cards, short term finance and personal loans can have high interest rates which will increase the 
cost of paying them down each month. Finding a debt consolidation loan with a much lower interest rate 
or adding those expensive debts to your mortgage could reduce that monthly cost to free up money for 
3. Balance transfer credit cards to 0%. 
Many credit card providers offer introductory 0% rate offers to new customers. Transferring your balance 
to one of these providers will reduce your monthly spend on paying down your debt and allow you to pay 
off more of the balance as you aren’t servicing interest. So not only would your monthly outgoings reduce 
but you also reduce yoru outstanding balance to become debt free sooner. 
4. Use government grants 
The government are offering UK residents a range of grants and support to help with the cost-of-living 
crisis. They are offering all households a £400 grant to cover the increasing cost of energy. To check,  
what is available and if you qualify head over to the government website - 
5. Contact your utility providers 
Providing regular metre readings and showing your providers how much energy, you are actually using 
will help to get more accurate bills compared to speculative bills which may be based on predicted usage 
that is higher than your actual usage. So, give your provider a metre reading as soon as possible and 
each month for the foreseeable future. Utility providers have a duty of care to look after their customers, 
if you are struggling with your payments, you can call them to work out a payment plan to make your 
payments more affordable. 
6. Use cashback websites 
If you aren’t familiar with cashback websites, you go through a website such as '' for  
examplethat will direct you to retailers online that will give you an amount of cashback (this varies retailer to 
retailer) on any purchases you make that qualify for cashback. This cashback is then paid to you after 
completing your purchase. So, you receive money back for purchases you would make anyway. Free 
7. Review your spending 
When was the last time you completed a full audit of your spending? Are you still paying for subscriptions 
you didn’t know you had? Completing a full review of your spending will allow you to highlight areas or 
items you are spending money on that you don’t need to, or for things you don’t use or are spending 
more than you should. If you do need to keep the expense, can you find a cheaper alternative or 
provider? Do you need that expense? Do you use what that expense is for? Get rid of the things you 
don’t need or use and find cheaper options for the things you need to keep. 
8. Payment holidays 
As a last resort if your payments are becoming too much you can request a payment holiday from your 
mortgage lender. It is up to the lender if they grant you a holiday and how long for. You can qualify for a 
holiday if you haven’t taken one already and are not in arrears. You will need to pay back this money 
over the life of your mortgage or if you leave that lender. This is a last resort. If you are considering 
taking a holiday speak with your adviser first. 
9. Check what you are entitled to 
Local Authorities offer council tax support and discounts for low income households, single occupants, students etc. Most information can be found on your local council websites and citiziens advice, but it is worth checking whether you are entitled to council tax discounts. 
If you would like more advice or any question you would like to ask please contact us on the number or email us. 
Contact information is located on our homepage.  
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