What you can do to reduce the impact of rising bills - from energy to car insurance

the latest tech news, global tech news daily, tech news today, startups, usa tech, asia tech, china tech, eu tech, global tech, in-depth electronics reviews, 24h tech news, 24h tech news, top mobile apps, tech news daily, gaming hardware, big tech news, useful technology tips, expert interviews, reporting on the business of technology, venture capital funding, programing language

Struggling families are having to choose between heating their homes and feeding their children due to rising prices, one charity warned this week.

The Splice Child and Family Project said some people had hit “crisis point” due to the cost of living, with many struggling to keep up with food and fuel.

the latest tech news, global tech news daily, tech news today, startups, usa tech, asia tech, china tech, eu tech, global tech, in-depth electronics reviews, 24h tech news, 24h tech news, top mobile apps, tech news daily, gaming hardware, big tech news, useful technology tips, expert interviews, reporting on the business of technology, venture capital funding, programing language

The cost of living surged by 5.1% in the 12 months to November, up from 4.2% the month before. This is its highest rate in 30 years.

Dr Steffan Evans, head of poverty policy at the Bevan Foundation, said as a result, some families no longer have acceptable living standards.

Global Tech News Daily

He said: “It means families are having to make really difficult choices and are not able to enjoy the living standards we all expect everyone to be able to have.”

So what can households do to mitigate the costs? We take a look at some of your options below.

Global Tech News Daily

How do you feel about the rising cost of living? Get in touch: mirror.money.saving@mirror.co.uk

What you can do to reduce the impact of rising bills - from energy to car insurance
© SOPA Images/LightRocket via Getty Images The cost of living crisis will spiral further this year with bills go up again – but a little planning now could make all the difference

1. Energy bills

Soaring prices mean bills are predicted to rise by around 50% this spring.

How you could reduce costs: The Energy Saving Trust website may be able to help. Regulator Ofgem has advice on what to do if you can’t afford your bills. Make sure you are getting all the grants you are entitled to.

People working from home may also be able to claim tax relief. And pensioners on low incomes may be entitled to pension credit to help with living costs.

2. Mortgages

The Bank of England increased the base rate in December 2021 from 0.10% to 0.25%. This has had an immediate impact on homeowners on those variable rate deals which track the base rate.

Some may be considering locking into a fixed rate deal to give them certainty over their costs. But Moneyfacts has found fixed rates have also been creeping up.

The average two-year fixed deal increased from 2.34% in December 2021 to 2.38% in January 2022. For someone with a £200,000 mortgage, this could mean paying around £100 more over a two-year term. And the average five-year fix increased from 2.64% in December 2021 to 2.66% in January 2022.

This could mean someone with a £200,000 mortgage paying around £120 more over the five years, according to the comparison website.

How you could reduce costs: Eleanor Williams, a finance expert at Moneyfacts, says if borrowers are on their lender’s standard variable rate (SVR) or about to revert to it, they could potentially save some much-needed cash by switching.

“The best deal for a borrower will depend on their circumstances and future plans, so seeking the assistance of an independent broker could be invaluable in ensuring these are considered, and also in calculating the true cost of a new deal,” says Williams.

“It’s vital borrowers take into account more than just the initial interest rate on a new deal, but also consider any fees they may need to pay, and any incentives which they might benefit from,” she adds.

“Having the up-to-date market knowledge of a broker and having their support in navigating the mortgage maze could ease some of the potential stresses of applying direct and managing the application process through to completion.”

3. Rail fares and petrol prices

Some rail passengers may see annual costs increase by as much as 3.8%, depending on where they live.

Petrol prices dropped by 2p per litre over the month in December 2021, according to the RAC, although the organisation claimed consumers should have seen a bigger fall in pump prices than this due to falling wholesale prices.

How you could reduce costs: The petrolprices.com website compares nearby fuel prices.

Booking in advance, using railcards and splitting tickets across long journeys rather than buying one for the whole journey may be ways to save some cash.

You could also try cashback websites. For example, Quidco and TopCashback have cashback offers for people using the Trainline to book online.

What you can do to reduce the impact of rising bills - from energy to car insurance
© Daily Post Wales Fuel prices are falling, but there are still savings to be had

Tips to save on fuel

1. Fill up at busy petrol stations

These stations buy more fuel and can take advantage of falling prices. “The big petrol stations have deliveries every day so they can change the price,” Arthur Renshaw, of petrol station analyst Catalist Experian, told The Mirror . “But a small petrol station in a village may have a delivery every couple of weeks.”

2. Choose a big station

Stations buy their fuel on the wholesale market. Just as in any other negotiation, the big buyers are better able to strike a deal.

3. Look for a cluster of stations

When several stations are close together, they are more likely to cut prices to tempt drivers in. “If you are in the Highlands and Islands of Scotland, you have much less competition than in the centre of Manchester,” said Renshaw.

4. Play the supermarket game

Supermarkets are competing on fuel prices along with everything else. When you’re shopping, keep an eye out for vouchers offering petrol discounts. But be aware of the overall cost.

6. Stop by provincial towns

Airports, motorways, expensive cities and rural areas have the highest charges, so its worth avoiding these unless absolutely necessary.

4. Insurance

Insurance costs have remained relatively low, and in the case of car insurance this is partly due to fewer cars having been on the roads during coronavirus lockdowns. But there have been some recent signs of motor insurance prices starting to increase, for some customers at least.

While the average motor premium is still 20% below a peak reached in 2017, prices for the over-50s started to creep up towards the end of last year, Consumer Intelligence found.

How you could reduce costs: New rules came into force at the start of this year, meaning insurers are now required to offer renewing customers a price that is no higher than they would pay as a new customer.

This should remove the ‘loyalty penalty’ customers pay for sticking with their insurer year after year. However, it’s still worth shopping around and looking at comparison websites as well as talking to insurers directly.

5. Food

Grocery price inflation added nearly £15 to shoppers’ average monthly grocery bills in December, according to data analysts at Kantar.

Global supply chain issues have been putting price pressures on what’s on the shelves.

How you could reduce costs: Swapping regular favourites for own-brand grocery products may help.

Making a strict shopping list, bulk buying and using stores’ loyalty schemes could also produce savings.

Shopping for goods at times when items are being marked down, and using food waste apps may also help.

News Related

OTHER NEWS

New York Rangers get another comeback win to force Game 7 vs. Pittsburgh Penguins

PITTSBURGH — How many times can the New York Rangers dig themselves into a hole and climb back out? At least one more, as of Friday night. The Blueshirts came ... Read more »

Wilson, balanced Aces cruise to 96-73 victory over Dream

COLLEGE PARK, Ga. (AP) — A’ja Wilson scored 15 points, Kelsey Plum had 14 points and 11 assists and the Las Vegas Aces rolled to a 96-73 victory over the ... Read more »

EXPLAINER: Why frustration lingers in Okinawa 50 years later

The Associated PressFILE – U.S. Marine Corps Sgt. Mike Anglen of Turner, Ore., center, stands atop a cliff as Sgt. Bryan Wallace of Pikin, Ill., waits for his turn before ... Read more »

Astros beat Nationals 6-1 for 11th straight victory

WASHINGTON (AP) — Jose Altuve homered on the first pitch of the game, Yordan Alvarez and Yuli Gurriel also went deep and the Houston Astros extended their winning streak to ... Read more »

Kreider scores late, Rangers edge Pens 5-3 to force Game 7

PITTSBURGH (AP) — Chris Kreider’s long slap shot bounced over Louis Domingue and into the net with 1:28 left and the New York Rangers beat the Pittsburgh Penguins 5-3 on ... Read more »

Astros push winning streak to 11, roll past Nationals 6-1

WASHINGTON (AP) — Jose Altuve homered on the first pitch of the game, and Yordan Alvarez and Yuli Gurriel also went deep to help the Houston Astros extend their winning ... Read more »

Moustakas, Drury power Reds to 8-2 victory over Pirates

PITTSBURGH (AP) — Mike Moustakas homered twice and Brandon Drury drove in four runs to break out of a slump and lead the resurgent Cincinnati Reds to an 8-2 victory ... Read more »

Peterson's bases-loaded walk lifts Brewers over Marlins 2-1

MIAMI (AP) — Jace Peterson walked against Anthony Bender with the bases loaded in the ninth inning and the Milwaukee Brewers beat the Miami Marlins 2-1 Friday night. After starters ... Read more »

Padres: No cancer found during manager Bob Melvin's prostate surgery

SAN DIEGO (AP) — The San Diego Padres say no cancer was found when manager Bob Melvin had prostate surgery on Wednesday. Melvin, 60, was recovering at home Friday after ... Read more »

Ogunbowale, Gray help Wings rally past Mystics, 94-86

WASHINGTON (AP) — Arike Ogunbowale scored 27 points, Allisha Gray had 21 and the Dallas Wings overcame a 15-point second-quarter deficit to beat the Washington Mystics 94-86 on Friday night. ... Read more »

Resigning North Dakota senator led lawmakers in travel costs

The Associated PressFILE – North Dakota Sen. Ray Holmberg listens during a joint House and Senate Appropriations Committee meeting at the Capitol in Bismarck, N.D., on Jan. 7, 2009. Holmberg, ... Read more »

Residents in picturesque California county hit with gas prices topping $7 a gallon

A California county known for its spectacular mountains and proximity to Yosemite National Park has been paying the nation’s highest gas prices. Read more »

Boudreau to return as coach of Canucks next season

VANCOUVER, British Columbia (AP) — Bruce Boudreau will return as coach of the Vancouver Canucks next season after helping to turn the struggling NHL club around as a midyear replacement. ... Read more »

New Zealand leader Jacinda Ardern tests positive for COVID

On Location: May 13, 2022 Catch up on the developing stories making headlines.The Associated Press WELLINGTON, New Zealand — New Zealand Prime Minister Jacinda Ardern has tested positive for COVID-19 ... Read more »

Today in History for May 14th

Highlights of this day in history: Colonists go ashore in Virginia to set up Jamestown; Lewis and Clark begin to explore Louisiana Territory; Israel founded; Skylab launched; Movie producer George ... Read more »

Twitter CEO expects Elon Musk acquisition to close, addresses spending cuts

Musk is awaiting details supporting calculations that spam, fake accounts represent less than 5% of Twitter's users Read more »

Padres: No cancer found during Bob Melvin's prostate surgery

SAN DIEGO (AP) — The San Diego Padres say no cancer was found when manager Bob Melvin had prostate surgery on Wednesday. Melvin, 60, was recovering at home Friday after ... Read more »

Renovated NYC museum shows indigenous perspectives

The American Museum of Natural History in New York City recently finished a major renovation of its exhibition on the native peoples of the northwest coast of North America. Curators ... Read more »

Police release 911 calls in Gilgo Beach case

A woman who disappeared in a beach community on New York’s Long Island more than a decade ago, sparking an investigation into a possible serial killer, said “there’s somebody after ... Read more »

Academy Awards set 2023 Oscars for March 12

The Associated PressFILE – Oscar statue on the red carpet at the Oscars on Sunday, March 27, 2022, at the Dolby Theatre in Los Angeles. Next year’s Academy Awards will ... Read more »

Actor Fred Ward, of 'Tremors,' 'The Right Stuff' fame, dies

The Associated PressFILE – Fred Ward, a cast member in “30 Minutes or Less,” poses at the premiere of the film in Los Angeles on Aug. 8, 2011. Ward, a ... Read more »

Judge refuses to drop elections suit against Trump, media

NEW YORK — A Colorado judge on Friday denied motions to dismiss a defamation lawsuit filed by an election systems worker against former President Donald Trump’s campaign, two of its ... Read more »

Q&A: Becky G unveils every side of herself in latest album

The Associated PressFILE – Becky G appears at the Oscars in Los Angeles on March 27, 2022. Beck G’s latest album is “Esquemas.” (AP Photo/Jae C. Hong, File) NEW YORK ... Read more »

North Korea reports 21 new deaths as it battles COVID-19 outbreak

SEOUL, South Korea — North Korea reports 21 new deaths as it battles COVID-19 outbreak. Read more »

North Korea confirms 21 new deaths as it battles COVID-19

SEOUL, South Korea — North Korea says 21 people died and 174,440 people were newly found with fever symptoms on Friday alone as the country scrambles to slow the spread ... Read more »

White Sox place Giolito on COVID list, activate Vaughn

The Chicago White Sox placed ace Lucas Giolito on the COVID-19 injured list and activated outfielder Andrew Vaughn following a rehab assignment with Triple-A Charlotte on Friday. Giolito began experiencing ... Read more »

Traded back and forth, Ford learns to live out of suitcase

NEW YORK (AP) — Mike Ford has learned to travel light — and quickly. Since the start of the season, the 29-year-old first baseman has played for Tacoma, San Francisco ... Read more »

Falcon 9 rocket launches Starlink satellites

A SpaceX Falcon 9 rocket launched 53 Starlink satellites to low-Earth orbit from California on Friday. (May 13) Read more »

Celtics' Robert Williams remains out for Game 6 vs. Bucks

MILWAUKEE (AP) — Boston forward/center Robert Williams missed his third straight game with an injured left knee as the Celtics tried to keep their season alive Friday night in Game ... Read more »

Padres sign Robinson Canó, plan to use him off the bench

ATLANTA (AP) — The San Diego Padres have signed veteran second baseman Robinson Canó to a major league contract and plan to use him as a left-handed bat off the ... Read more »

WNBA star's Russia detention extended by 1 month

The lawyer for WNBA star Brittney Griner says her pre-trial detention in Russia has been extended by one month. Alexander Boykov told The Associated Press the relatively short extension indicated ... Read more »

Louisiana justices toss COVID-related charges against pastor

Hundreds of thousands of Americans fighting long-haul symptoms from COVID-19 Dr. David Putrino from Mount Sinai Health System and COVID long-hauler Joel Fram discuss the long-term effects of the disease.The ... Read more »

Sandy Hook lawsuits against Alex Jones on track to resume

The Associated PressFILE – This Tuesday, Dec. 11, 2018, photo shows radio show host and conspiracy theorist Alex Jones at Capitol Hill in Washington. The Sandy Hook families’ lawsuits against ... Read more »

Rockies' Bryant closer to return after cortisone shot

DENVER (AP) — Colorado Rockies outfielder Kris Bryant took swings in the cage Friday for the first time since he was sidelined with a sore back nearly three weeks ago ... Read more »

Mariners demote Jarred Kelenic to minors after poor start

NEW YORK (AP) — Rather than make his Citi Field debut against the team that traded him, Jarred Kelenic was demoted to Triple-A Tacoma by the Seattle Mariners on Friday ... Read more »

Biden: ASEAN partnership 'critical' in this moment

Looking to strengthen ties, President Joe Biden welcomes leaders from the Association of Southeast Asian Nations to Washington for the first time. “We’re launching a new era in U.S.-ASEAN relations,” ... Read more »

Phil Mickelson will not defend his title at next week's PGA Championship

Phil Mickelson caught lightning in a bottle last year at Kiawah Island, winning a major championship at 50 years of age. The fairways flooded, and the golf world stood and ... Read more »

Tennessee Titans' Malik Willis on Ryan Tannehill's mentorship comments: 'Everything is cool'

The Tennessee Titans didn’t take issue with Ryan Tannehill’s comments about mentoring third-round rookie Malik Willis. Willis and coach Mike Vrabel were asked about Tannehill’s scrutinized remarks following the first ... Read more »

Lawyers plan suit against Lufthansa over Jewish passengers

Lawyers for 26 passengers said Friday they told Lufthansa that they will sue the German airline for refusing to let members of a large group of Orthodox Jewish passengers board ... Read more »

Wild face offseason after yet another early ouster

While the Minnesota Wild were stacking up franchise records and securing the extra home game for the first round, general manager Bill Guerin carefully acknowledged a “great year” for the ... Read more »