I can't help but laugh at some of the previous suggestions such as 'move to free up 300k' @Wonderofwimbledon we're in a very similar position to you, there's nothing left to give anymore - we've lived in our house for almost 7 years now, but to downsize we'd actually 'lose' money (paid 230 for our small 4 bed, but now 3 beds in the area are at that price point and 4 beds sell for around 260) with the interest rate increases we'd be paying the same monthly anyway.
We have a 190k mortgage for the next 24 years (took it over 30 as I was pregnant at the time and about to go on SMP only maternity leave it made sense)
and then there's @Era, what about when you've already spent the last few years actually doing these things? when people say there's nothing left to give, that's usually what they mean.
some examples -
Have you adjusted your thermostat down one degree? Then encourage everyone to wear thicker socks/jumper etc. heating isn't on yet, and only comes on when the house dips below 15, it boosts to 17.5 which is fine in our new build
Are you heating the hot water for longer than is really needed. combi, and we've turned the temp down slightly
these 2 things make no difference when the tariff rates increase though - they just mean you spend the same rather than have to fund the increase
Have you checked the points on your reward cards etc - I have £12 on clubcard, will use it to take the kids out to the cinema on the run up to xmas.
Can you cancel kids activities/lessons/sport and do cheaper things instead? *our 2 only swim (council lessons) and do karate. Otherwise its afterschool wraparound which we need to enable us to work.
Can you buy things like school uniform etc in the second hand sales do this already for jumpers, the rest is supermarket
Can you grow some of your own food to make life easier next year? plums, strawberries, blueberries and cherries we grow - doesn't help feed a family of 4 year round when mince has added £3/kg to its costs in 6 weeks
Can you shift any financial products to get a cheaper rate e.g. look at insurance renewals etc always do this annually, still lucky to get a reduction on current costs
Do you have high value items like old tech/vinyl records/curtains/vintage clothes sitting in the loft (hurts me to say it but 90s is now vintage in clothing terms and very much in demand - some early iPhones and iPods and games consoles are in demand - old perfumes can give a good return) nothing, we completely cleared out when we moved
all of these things we could maybe find an extra £20 a month - but the kids wraparound care has just increased by £5 a week each, so already in the negative before that anyway. When essential rises are higher than the potential savings it feels so bleak.
DH is local authority so hardly any rises over the last few years, I'm private sector so have had some salary increases but still very single one seems to come alongside a higher expense than the increase allows. I had more disposable income in my 20s living alone and renting, going out every week, running a car etc (with zero benefits) than I do now earning 40k yet everyone told me it would get easier not harder!