A quarter of Brits still worry about money every day as cost-of-living worries continue to bite.
A poll of 2,000 adults found finances are still a main concern for 41 per cent of the nation.
Energy bills (36 per cent), groceries (32 per cent) and car costs (13 per cent) are the biggest drain on Brits’ daily spend.
And 36 per cent haven’t felt able to ask for advice from anyone around them, leaving 24 per cent feeling stressed.
But 24 per cent feel having open conversations about their finances could have a positive impact on their mental health.
To help people with their cash-flow, financial expert Peter Komolafe has offered advice to boost financial wellbeing.
This includes creating a detailed budget, slowly building up savings, and reaching out to your energy supplier to request a smart meter and ask what other help they can offer if you are struggling.
Working in partnership with Smart Energy GB to share his top money saving tips ahead of the winter, Peter said: “Money worries can be stressful, but it’s important to know there are simple steps you can take to both alleviate the pressure and help you feel better.”
A poll of 2,000 adults found finances are still a main concern for 41 per cent of the nation.
Energy bills (36 per cent), groceries (32 per cent) and car costs (13 per cent) are the biggest drain on Brits’ daily spend.
And 36 per cent haven’t felt able to ask for advice from anyone around them, leaving 24 per cent feeling stressed.
But 24 per cent feel having open conversations about their finances could have a positive impact on their mental health.
To help people with their cash-flow, financial expert Peter Komolafe has offered advice to boost financial wellbeing.
This includes creating a detailed budget, slowly building up savings, and reaching out to your energy supplier to request a smart meter and ask what other help they can offer if you are struggling.
Working in partnership with Smart Energy GB to share his top money saving tips ahead of the winter, Peter said: “Money worries can be stressful, but it’s important to know there are simple steps you can take to both alleviate the pressure and help you feel better.”
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FunTranscript
00:00Finances are a concern across Britain and recent research from Smart Energy GB
00:04has found that the biggest drain on your income at the moment are energy bills,
00:08groceries, and car expenses. So I'm here to help boost your financial well-being
00:13and give you some practical tips to ease your money worries.
00:22This is going to be the most important one. It's to have an intentional budget.
00:26Now what do I mean by that? It's having a detailed list of everything you have
00:30coming into your account. More importantly, everything you have going out.
00:34And the simple way of doing this, you can create three pots.
00:36In pot one, you have your essentials, your gas, your electric,
00:39all the things you absolutely have to pay for.
00:42In pot two, you have things like non-essentials.
00:44There will be things like your streaming services or your subscriptions.
00:47But importantly, you need to create a third pot.
00:49And I'm going to circle back to that one shortly
00:51because it's going to tie into something else we're going to talk about.
00:55Don't be afraid to talk and ask for help if you're struggling.
00:58I think by doing so, you'll feel less alone and you actually feel a lot better
01:02than doing so. But it's not just about friends and family.
01:05If you're worried about paying an energy bill,
01:07it's really important you speak to your supplier.
01:10They're on hand to let you know what support is available.
01:12For example, getting a smart meter installed to make sure that your bills are accurate
01:16and you can see exactly what you're spending on energy.
01:19And once you know exactly how much you're spending,
01:22it's easy to find ways to reduce it.
01:26Slowly build a savings pot.
01:27Now, this will sound like common sense, but I referenced a third pot earlier.
01:31This is how you would do it.
01:32By putting small amounts of money, and it could be a pound,
01:34it could be five pounds a month.
01:36But in doing so, what you'll find is that you become less reliant
01:39on things like credit cards and overdrafts.
01:41And just in doing that will give you a lot of peace of mind and sense of security.
01:47Be proactive with your finances.
01:48And what I mean by that is try to plan ahead.
01:51We've all got things that we enjoy doing.
01:53Going on holidays, nights out, eating out maybe.
01:56But by planning ahead and accounting for that in your finances
01:58means not only do you have something to look forward to,
02:01but you also alleviate the financial pressure that you might feel otherwise.
02:04Money worries can be really stressful,
02:06but the important thing is to focus on the things that you can control.
02:10Talk about them, share your problems,
02:12because you'll be amazed at how better it can make you feel.
02:14And more importantly, if you need help, please ask.
02:18For more tips, visit smartenergygb.org.
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