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Cost of living crisis

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From inflation to tax hikes, thousands of people across the country are struggling to cover the cost of day-to-day life. Here we bring you the latest news and advice to help offer you support during the cost of living crisis.

Cost of living and your home

 

Cost of living and transport

 

Cost of living updates

 

Cost of living and energy

 

Your questions answered

The cost of living crisis means that low and middle income households are struggling to cover the cost of basic items. This is because the cost of living, such as energy, food and transport costs, are rising faster than incomes or benefit increases.

According to the Office for National Statistics (ONS) inflation increased to 6.2% in the 12 months leading to February 2022 – up from 5.5% in January. The rate is “faster than expected” and means the UK’s rate of inflation has hit a 30-year high.

There are several factors driving prices to unmanageable levels. Increases in the cost of consumer goods, coupled with strong consumer demand and supply bottlenecks are just a handful of reasons behind rising inflation. The rise in energy and petrol costs are also fueling the crisis.

The most important thing to do is seek professional advice. If you’re struggling to manage various debts you may qualify for a debt solution that could help you reduce your monthly payments to one affordable amount to make what you owe more manageable.

If you’re worried about covering the cost of IVA payments, don’t panic. You should get in touch with our expert teams to find out what additional support is available to you during this difficult time. You can call us on 0800 043 1431 or connect via live chat here.

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