Money Saving Expert's Martin Lewis has shared a helpful guide on how households can cut back on costs as prices skyrocket. The finance expert shared washing machine and hot drinks tips people have used to save money. It comes at a time when the cost of living is at a 30 year high.
The nation has seen a series of price increases, with energy bills being one of the steepest as energy regulator Ofgem hiked its price cap by a staggering £693 for someone with typical use - a rise of 54% to £1,971. Council tax bills have just gone up as well and broadband, mobile and mortgage payments have also seen price hikes, Liverpool Echo reports.
Introducing the guide, Martin said: "On 1 April, the 54% rise in the energy price cap hit 22million homes, a desperate, typical £700/year increase – catastrophic for those with the lowest incomes." He added: "Yet the pain stretches far further – when combined with all the other price rises, we will see a material drop in the standard of living for most on low to middle incomes.
