Nearly half of Brits cutting back on essentials

Almost half of adults in Great Britain (46%) are cutting back on essentials like food to make ends meet, it’s been reported. Figures from the Office for National Statistics included in a new government cost-of-living briefing showed 95% of people have seen their living expenses increase over the past year.

To get by with less spare cash, 68% of those who said their costs have gone up are cutting back on non-essentials and 56% are using less energy at home. When asked why they had less money now, 97% mentioned the rising cost of food and 68% said more expensive energy bills were at least partly responsible.

If you're struggling

The stats also revealed that 3% of people have turned to a charity for help. If you’re struggling to afford the essentials, you may be able to get an emergency parcel from your local food bank.

If you need money advice on what to do if your income no longer covers your essential costs, we’ll be happy to help. We can go through your budget with you to see where you can make savings, make sure you’re getting all the benefits you’re entitled to and look at solutions to help you with your debt. Find out more about how we can support you online or by giving us a call.