Could shopping around help you save money?

Do you regularly shop at the same supermarket or stay with the same utility provider year after year? If so, it could be worth shopping around.

New research by TSB and Lightning Reach has found that almost one in three people (31%) have recently cut back on essentials like food and heating.

Meanwhile, one in four (25%) have dipped into savings to cover everyday costs.

But many are choosing a different, less drastic method to cut costs - researching the market for better deals.

In fact, more than a third of those polled (34%) said they’ve shopped around in an effort to save money.

Energy costs weigh heavily on households

Energy is taking up a particularly big chunk of people’s incomes right now.

One in three people surveyed (33%) said they spend between 5-10% of their household income on gas and electricity bills, and almost a third (28%) spend 11-20% on energy.

A further fifth (17%), meanwhile, on spending between 21% and 30% on energy bills.

So this is clearly one area where it could be worth looking to see if better, more affordable deals are available.

But energy costs can be volatile, so that’s not guaranteed, and you might be better off fixing your energy deal instead.

So do your research instead of just assuming you can always get a cheaper deal elsewhere.

What else can I do to cut my energy bills?

If you’re struggling to keep up with the cost of gas and electricity, there are a few steps you can take right now.

Speak to your energy supplier

Get in touch with your supplier straight away if you’re starting to fall behind with payments and worried about how to pay your next bill.

They might be able to offer:

• grants
• payment plans
• advice on managing your account

It could also be worth joining the Priority Services Register for extra support.

Try to save energy

Small steps such as turning down your thermostat by one degree, not overfilling the kettle and bleeding your radiators could help you cut your energy usage - and in turn, bring your bills down.

We’ve put together a list of 50 smart energy-saving tips to help you get started.

Get clarity on your bills

Our free household bills calculator can show you how your monthly costs might change, so you’re not caught off guard.

Manage your household budget

Gas and electricity are just some of the costs that come with running a household.

So it’s well worth creating a budget, so you can see how much money you have coming in each month and prioritise your spending.

You can then be confident that you’re able to cover these vital expenses, as well as work out what you can afford to spend on non-essentials and put into savings.

Get started with our budget planner - it’s free and easy to use.

Check what support you can get

You might be eligible for financial support from the government, so use our benefits calculator to find out what you can claim.