The UK is currently experiencing a Cost-of-Living Crisis, which began in 2021. This crisis started because the cost of most essentials, such as food and energy bills, has increased faster than household income. We have compiled some useful information here to help people with their finances during the crisis.
The Office for National Statistics (ONS) recently released research that emphasises how the crisis is already having a noticeable impact, with 89% of British adults reporting that their cost of living had risen over the month of August 2022.
It is likely that the situation will only get worse, as the price of gas and electricity is set to go up in October, even with the government’s new ‘energy price guarantee’. This means that energy bills will increase this winter, further exacerbating the effects of the crisis.
Understandably, the ONS also reported that 76% of British adults were very or somewhat worried about the rising cost of living. This statistic, coupled with the unfortunate fact that the people hit hardest by this crisis are those on a low income, prompted BHT Sussex to put together some resources which detail how to manage.
Our cost-of-living resources cover managing energy bills, water bills, food costs and finances. They also outline some of the additional support available from the government, as well as other ways to save money. We are mindful of the fact that simple budgeting tips are of limited use when people are facing such such huge increases to the costs of essentials, and our resources focus on practical advice, such as contacting energy suppliers and evaluating scheduled and regular payments.
We also detail the energy saving items that BHT Sussex tenants can claim from us, thanks to funding from UK Power Networks’ Power Partners Fund. These items include draft excluders, radiator foil and energy saving lightbulbs. Further information about these free energy saving items can be found here.
The Power Partners Fund is also supporting energy awareness training for BHT Sussex staff, with around 20 staff members having already undertaken the training. Such knowledge will help staff to cope with current circumstances.
The ONS research also detailed that the largest increases in prices in July 2022 came from housing and household services, transport and food. If you are worried about your housing situation, our advice services are available to offer much needed support. They operate in Brighton, Eastbourne in Hastings.
It is likely that these services will increasingly be helping people who have never required BHT Sussex’s support before.
As the Cost-of-Living Crisis develops rapidly, we’ll be keeping our advice and guidance up to date based on new information and any further government advice.
To visit our Cost-of-Living resource page, click here.
