The cost of living crisis is crippling millions of households across the UK as prices continue to soar.
Unfortunately, the Bank of England has warned the situation will continue to look bleak for the foreseeable future as it predicts the country will enter into a recession this winter.
With bills going up, people are continuing to come up with more imaginative ways to save money.
One TikToker thinks she might have cracked the code to cutting costs at the moment: going on a month-long holiday.
Helen, 31, took to the app to share her idea for saving money on rising heating and food bills after finding a good all-inclusive deal.
But is it really cheaper? We've done the maths to find out.
Cost of living holiday hack
In a video shared on TikTok, Helen revealed that she was considering taking a month-long all-inclusive holiday rather than staying in the UK as food and heating prices rise.
Helen shared a holiday package to Egypt that cost £1,312 per person for 28 nights from January 31, and you also get a double room with a garden view and balcony.
In the caption, Helen said: "Frankly it just makes more economic sense for me to sit on a sunbed all day and wait for all of this to blow over."
And lots of people agreed with her.
One person commented: "Wait what... actually cheaper than my monthly house and food bills."
While another said: "That's the same as my rent but without all the other stuff thrown in."
What's the average cost of living in the UK?
In May 2022, Zoopla revealed in its latest Rental Market Report that the average single renter is spending 37% of their income on rent, and for single renters in London this jumps to 52%.
Last month, ONS estimated the average weekly earnings in the UK as £565 for regular pay, making the average monthly earning adding up to £2,260.
This means that the average price that one person currently pays for their rent is at around £836.
According to EDF, the average energy bill for a small house or flat with one to two bedrooms is £66 a month, but this could rise with the new energy price cap in October.
Energy industry analyst Cornwall Insight has estimated that the cap could rise by 78%, after rising by 54% in April.
This means that the average energy bill for a small household could reach £117 in October.
Meanwhile, research from the data-driven personal finance site NimbleFins suggests that that average person in the UK spends £189 each month on food.
Council tax is also a significant contributor to the cost of living, and in February research from Ocean Finance found that for the average Band D bill, a single-person household was paying £113.60 a month.
In total, the above outgoings mean that the average cost of living in the UK for one person can be estimated to be around £1,255, taking into account the predicted energy cap rise in October.
How much is an all-inclusive holiday?
All-inclusive holiday prices vary greatly, and the most luxurious resorts can set you back tens of thousands.
While Helen's deal to Egypt comes in at slightly above the average cost of living, there's still plenty of cheaper options currently available.
Prices are usually the cheapest in February, which could be good timing as the UK heads for a recession this winter.
Currently, the cheapest 28-day all-inclusive available on TUI costs just £933 per person, which comes in at £322.60 less than the estimated cost of living in the UK for one person.
The holiday is to the Paradis Palace Hotel in Tunisia and has four stars on Tripadvisor.
The room features a balcony and the hotel has a buffet restaurant, spa and outdoor pools.
In total, TUI is currently adverting a total of 15 28-day all-inclusive holidays that are cheaper than the estimated £1,255 a month cost of living.
However, while spending a month relaxing by the pool could be cheaper than living in the UK, you'd need to be able to have no rental or utility bill commitments in the UK still to really be saving money.
