According to Citizens Advice, more than half of the adults in the UK have stated that they plan to cut their spending in order to deal with the increasing household bills over 2014.
Statistics show that in general people are worried about the impact that higher bills can have on their finances and in order to minimize this negative impact, they are planning to cut spending.
Hence, the government, several charities and the energy industry have planned the so called Big Energy Saving Week in order to offer assistance to consumers how to take practical steps to make cuts on their bills.
Overall, the areas where people plan to cut spending are food, energy bills and leisure time with family and friends. Some people even consider moving into a cheaper home. It is a fact that many British households struggle with their bills and even those that manage to keep up with their costs, face difficult periods from time to time. Some people have used overdrafts in order to pay their energy bills or have borrowed money from family and friends so that they can cope with the situation.
However, people need to consider other measures as well. For example, they can contact their energy supplier so that they can inform themselves about other tariffs and see if they are using the best one for their needs. Another idea is to insulate their homes and in that way they will use less energy. Those are just two simple alternatives to turning down your heating or using less electricity.
Furthermore, according to Citizens Advice, many people have looked for online advice about their energy bills or fuel debt problems. The rising cost of living will push a lot of people to cut back on essential necessities such as travel, energy, housing and food.
The UK Energy Secretary has stated that the recent recession has been the deepest in the peacetime history of the UK and as a result, many people have less money. Furthermore, the government claims that it is its top priority to help those people who have problems with paying their energy bills. It works on reforms for the energy market by offering more supplier and thus, better deals for consumers. Also, it launches many new projects aimed at both individual households and communities groups in order to help them control their energy usage. It is important to educate people on how they can make their homes more energy efficient and thus save more money.