Whether it’s refilling your petrol tank or paying at the supermarket checkout, the higher cost of living is hitting every household hard.  

Across the whole world, everyday essentials have surged in price and for many, budgets are being stretched to their limits.

So, what can you do to keep up with rising costs and still stay financially secure? The good news is that there are steps you can take to ease the pressure. Here are our 12 top tips:

Look for ways to earn more

Boosting your income is one of the most powerful ways to offset inflation.

1. Grow your business’s profitability

If you run a business, look at ways to improve your profit margins. This might mean increasing your prices slightly, trimming unnecessary costs, automating tasks, or exploring more profitable services. Want tailored advice? Talk to us – we can help identify the most effective strategies for your business.

2. Rent out a spare room or take in a flatmate

Under the UK’s Rent a Room Scheme, you can earn up to £7,500 a year tax-free by renting out furnished accommodation in your home.

3. Sell unwanted items online

A clear-out could turn into extra cash. Use platforms like eBay, Vinted, Facebook Marketplace, or Gumtree to sell items you no longer need. It’s quick, easy, and surprisingly rewarding.

Cut back where you can

Small savings add up – and cutting down doesn’t always mean missing out.

4. Prepare more meals at home

Takeaways and restaurant meals can eat into your budget fast. Batch cooking, meal planning, and using leftovers wisely can save a fortune over time.

5. Create a realistic budget and track your spending

Budgeting apps like Money Dashboard, YNAB, or Emma can help you see exactly where your money is going – and where you can rein it in. Awareness is the first step to better control.

6. Reduce your meat consumption

Meat is often one of the most expensive items on a shopping list. Try a couple of vegetarian meals each week – they can be both budget-friendly and delicious.

7. Drive less where possible

Petrol prices are high, and even short journeys add up. Walk, cycle, carpool, or use public transport when it makes sense.

8. Cancel or pay down credit cards and buy now, pay later accounts

Interest charges can quickly spiral. If you’re struggling to pay off balances, look into 0% balance transfer cards or speak to a financial adviser for debt reduction strategies.

9. Review all your regular outgoings

Subscriptions, insurance, utility bills – these can often be trimmed or renegotiated. Use comparison sites to switch providers or call and ask for a better deal. You might be surprised how often they say yes!

Invest in your future

You can’t just save your way out of inflation – smart investing is key to long-term financial stability.

10. Invest in inflation-beating assets

Historically, property and the stock market have provided returns that outpace inflation over time. Start small if you’re new to investing – many platforms allow you to invest from as little as £25 a month. And always seek advice if you’re unsure.

11. Start something new

A side hustle – from freelance work to selling handmade goods or online teaching – can bring in extra income and even turn into a full-time business. Don’t underestimate your skills and passions.

12. Learn about personal finance

The more you know, the more control you’ll have. Free online courses, podcasts, YouTube channels, and books from your local library are great places to start. Understanding budgeting, investing, and money management empowers you to make the best decisions for your future.

A final thought

While inflation has slowed, it's still estimated to remain in the 2–3% range this year – on top of recent spikes. To truly stay ahead, aim to:

• Increase your income by at least 4%
  
  
• Save money wherever possible
  
  
• Invest consistently for the future
  
  

These three pillars – earning, saving, and investing – create a buffer against inflation and help you build lasting financial resilience.

Worried about money? We're here to help

Financial stress can be overwhelming, but you're not alone. We’ve supported clients through many economic cycles – including periods of high inflation – and we're here to help you get through these challenges with confidence. Call us on 01904 787 973 or book a discovery call with Donald Inglis.