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Brits Forced To Give Up Luxuries Due To Rise In Cost Of Living

Rise In Costs Forces People To Live With Out Heating And Other Essentials

By Ashish PrabhuPublished 2 years ago 4 min read
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57% of Brits are turning off the heating and 50% eating out less to cut costs.

That's according to new research from telecoms company Lebara who have produced a study which reveals how Brits are dealing with the cost of living increase. The findings also revealed that:

Over three-quarters (77%) of respondents are most worried about their energy bill increasing

60% of Brits expect to see their bills rise by £100 per month

50% of Brits are looking to change their mobile network deal to a cheaper plan

The people who took part in the study also revealed the main ways in which they were looking to cut their spending habits which would include them cutting back on many of the luxuries that they may enjoy. During this time we are all being encouraged to find cheaper options to what we normally tend to buy in the shops in an effort to help us save money and be able to afford a more comfortable retirement in the future.

Included in the top 10 ways people are looking to cut their spending habits are:

57% are turning off their heating

50% said they will order less takeaway or not eat out as often

49% will buy less or no new clothes

23% will cancel holiday plans

19% will cancel streaming services such as Netflix & Amazon Prime

17% will look for a cheaper supermarket to do their weekly shop

12% not buying a new phone and moving to a SIM only deal

11% are planning on asking for a pay rise or getting a new job

9% plan on cancelling their gym membership

2% might have to move in with their parents

Due to the ongoing conflict between Russia and Ukraine at the moment, there may be stoppages with the amount of oil coming from Russia which will mean that it will become much more expensive as their won't be as much of it around. As well as this there may be problems with the flow of other items which come from Russia meaning that we will have to do with out many of the luxuries that we normally use.

Over three quarters of the people who responded to the study said they were worried about their energy bills increasing Half of those surveyed said they were worried about petrol prices increasing and how they would be able to feed their families due to the rising costs in the shops.

Alongside these changes, 50% of Brits are looking to change their mobile network deal to a cheaper plan, with just under a third (31%) currently paying over £20 a month. When asked what most important factor would be when switching to a new phone deal, 73% agreed that price was the decisive factor, followed by 44% looking for network quality and 28% wanting no annual price increases.

Rajesh Dongre, Lebara UK Mobile Commercial Director said: "The British public is feeling the cost of living crunch hard and looking for ways to cuts costs, without compromising on the quality of service they are used to. At Lebara, we believe staying connected should be simple and affordable. Our SIM Only deals start from just £5 a month for 3GB data to £25 for Unlimited data with flexibility to change or even cancel at anytime as per individual needs. With Excellent Trust pilot Scores, EU roaming & free international calls included by default, No annual price increases and network reliability of Vodafone, you can say give 'More for Less'. If you are spending more than £10 a month, I am confident, you are most likely to save significant monies with us."

Many people who may be on low incomes will be finding it difficult to afford the cost of many services nowadays. This includes the cost of heating their homes so many of them will have been forced to turn all their radiators and other electrical appliances off, just so they can afford to buy food in the shops. Different energy companies may offer grants in an effort to help people afford to heat their homes. This may come in the form of the Warm Home Discount which gives people the opportunity to get £140 towards the cost of their electricity.

Other people who may be on benefits may find that they have to apply for different benefits and visit different soup kitchens where they will be able to access goods which have been donated by members of the public.

 

economy
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