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Six ways to save up to £5,000 when living expenses and energy bills are skyrocketing

The cost of living crisis is hitting households across the UK, leaving people desperate for help when it comes to saving money to help them as energy bills and expenses soar

The Bank of England issued a stark warning that inflation could hit 10%
The Bank of England issued a stark warning that inflation could hit 10%

As the cost-of-living crisis squeezes millions of households across the country, there could be another surge in bills this year.

The Bank of England issued a stark warning that inflation could hit 10% – with households already grappling with energy ceiling hikes.

And the bank has also warned bills could rise 40% in October.

These increases would cause the average cost of gas and electricity to rise by a further £800 while households are already making cuts.

We’ve put together a handy guide with help from a range of organizations including suppliers, charities, government and local government that could be worth hundreds of pounds.







Millions of households are struggling with rising energy prices
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Council Tax Reduction – up to £1,898

Some low-income households may be entitled to a reduction in their council tax.

To find out if you’re eligible and to apply, you’ll need to contact your local council – you can find yours by simply entering your postcode.

Utility Subsidy – up to £750

The surge in energy supplies is affecting millions of homes across the country and as a result British Gas, Octopus Energy and Shell Energy have increased their own hardship grant to help customers.

Octopus Energy has increased its hardship fund from £2.5million to £5million.

However, the amount you may be entitled to depends on your supplier and your circumstances.

If you’re on a low income or on welfare, you might qualify – but you’ll have to ask your supplier and see what you might get.

Grants are available which could help you pay bills with over 8,000 charities and organizations in the UK offering cash to low income families.

This can include groceries, washing machines, stoves and groceries.

Turn2Us has a free grant search tool that you can check out to see what help might be available for you.







Households are looking for ways to save money on their bills
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Household Support Fund – up to £150

This program was extended in March. So if you missed the last time, you have another chance to apply.

Local governments help households with bills and essentials.

To see what is available in your location and to apply, you will need to check with your municipality.

You can find yours using the search function on gov.uk – just enter your postcode.

Municipalities offer year-round welfare programs that can also help you with bills.

Council Tax Refund – £190

If you live in a property in council tax brackets A to D, you can get a council tax credit of £150 to cover living expenses – to which 80% of households are entitled.

From this month your municipality will automatically credit the refund to your account if you pay by direct debit.

If you pay with another method, you must apply for the discount at your local authority.

A separate £144m fund has also been launched to allow local councils to help low-income households.

Some councils like Camden have made requests for cash worth up to £150 – with low-income households potentially eligible for additional payments.

Our team of cost of living experts are here to help YOU through a very difficult year.

They bring you the latest money news and also offer expert advice.

Whether it’s skyrocketing utility bills, the cost of weekly groceries, or increased taxes, our team is always by your side.

Every Thursday at 13:00 they participate in a Facebook Live event to answer your questions and offer their advice. Visit facebook.com/dailymirror/live to watch. You can read more about our team of experts here.

If you have a question – or want to share your story – please email webnews@mirror.co.uk.

Unclaimed Benefits

According to charity Turn2us, there is over £15billion in unclaimed benefits – an average of £2,142 a year per year.

There’s also £1.7billion in pension credits left alone – which is worth £3,300 for low-income families.

To see if you are eligible, try the free online benefit calculators to find out what you are entitled to using Turn2US, EntitledTo and PoilcyinPractice.

After you’ve seen what you may be entitled to, use the contact information on Gov.uk to make your claim.

Discount for new invoice – £200

The Government announced that every single household will get a £200 rebate on their energy bill – but this has to be paid back.

It will be in the form of £40, which will be added to annual bills over five years from next year.

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https://www.mirror.co.uk/money/six-ways-make-savings-up-26897820 Six ways to save up to £5,000 when living expenses and energy bills are skyrocketing

Fry Electronics Team

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