Energy bills causing biggest financial stress for households

Energy and utility bills are the biggest cause of financial worry for people across Britain right now.

When asked by YouGov which part of their household budget worries them the most, more than a third (36%) said energy and utility bills.

This was followed by food shopping (16%) and rent or mortgage payments (13%).

Meanwhile, nearly four in ten people (37%) admitted they’ve struggled to pay for energy in the past three months.

Cost of living seen as the biggest national issue

The YouGov survey also found that the cost of living is the most pressing national issue right now among members of the public.

More than half (54%) named the cost of living as the biggest priority for the country at the moment.

This put ahead of issues including immigration and asylum (49%), health and the NHS (43%) and the economy (33%).

Households expect to make cutbacks 

Soaring living costs have been putting households under pressure for a few years now.

And as a result, many people aren’t hopeful that the situation will get better any time soon.

In fact, just 12% of Brits said they think their financial situation will improve in the next year.

Meanwhile, 63% say they expect to cut back on their usual spending.

This includes 44% who’ve already made cutbacks in the last few months and years.

How should the cost-of-living crisis be tackled?

Hard-pressed households will naturally look to the government for help.

But when it comes to what that support should look like, the public is split down the middle.

When asked what would help them personally, 47% said they’d prefer costs to be lower.

But at the same time, 46% said they would rather have direct financial support.

Opinion shifts further when people are asked for the best national solution to the cost-of-living crisis.

Nearly two-thirds (64%) said reducing costs is the best way forward for the country.

But just over a quarter (27%) said they favour cash payments.

What can I do if I'm struggling?

If rising living costs are putting you under strain, there are practical steps you can take.

Look at your spending

Make sure you know how much money you have coming in and where it’s going.

You can then prioritise your spending and see where you can make savings.

Check out our guide to how to create a budget to get started, and give our budget planner a try.

Find out what benefits you could claim

You might be able to claim financial support from the government to help you with your living costs.

Use our benefits calculator to see what you could be eligible to receive. 

Deal with problem debts

If you’re struggling with debt, contact us for confidential, practical and impartial debt advice.

Speak to your energy supplier

If you’re struggling to keep up with your energy bills, contact your supplier. 

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.