Prepping for cost of living crisis/worsening economic situation.

[BooksAndChooks]

Is there anything you are doing to prepare for how the economy is going?

We have got a 10 yr fixed rate mortgage deal and are putting everything towards paying down debts asap. We did get solar panels, although that was a stretch for us and is part of the debt we are now paying off.

I feel like I'm mulling over the economy and how things will impact us quite a lot. What else are you doing to ensure stability/cushion yourself?

I am going to grow salad leaves in garden instead of buying them already washed. Be good example to DC too.

I’m growing lettuce too, among other things. Struggling with rabbits invading the garden though. You’d think 3 German Shepherds would do the trick but two of them are now elderly and just look at the rabbits 🐇 while the little feckers munch away I’ve made up a mix of garlic and mint water and sprayed everything I’m hoping it works.

I did a year of buying no new clothes a few years back and managed that surprisingly easily, now only buy when I really need something and appreciate it so much more. Also now buy for longevity, going for classics rather than trends. On the food front, growing more of my own, dodging the chippy and takeaways, making up flasks and packed lunches. Got a shower timer from local water authority and follow all their water saving advice. Go on more nature walks, joined my local community orchard. Stopped buying shop bought flowers, now use garden flowers and evergreens I feel less deprived if i can see if an economy also benefits the environment.

@scissorsandsellotape @SusieSimpleman you can reduce your Netflix further if you're not bothered about HD by logging into your account online (not the app) and choosing the basic package instead of the standard.

The private health insurance is heavily subsidised by DH work but it hasn’t covered any of our medical issues over the last few years and the cost per year will equal this 2 energy hikes.
DH would happily replace the cleaner but they are like gold dust and I think unnecessary at the moment for us.
We are in a privileged position and for me it’s about making our money meet our priorities.

Re Netflix
When they had the recent increases I cancelled our subscription.
My logic being that we only have access to freeview and Iplayer etc, but will have it for a month over the summer when home, if its wanted and then again around Christmas as we love Christmas films.
The rest of the year right now, it seems unnecessary given we have managed since around Easter without.
I also refuse the multiple usage deals and though at times has required negotiation, I don't think that is necessarily a bad thing either.

So I've got my £5 for Lidl, today just went into Sainsbury's to grab some shampoo and I got a £4.50 off a £50 spend. So £9.50 free this week which isn't bad. Doesn't exactly balance out all the increases on gas/electricity/petrol etc but still better in my pocket than their till.

Sorry that should have said £4.50 off a £30 spend, so £50 spend to use both vouchers.

@BlackeyedSusan why haven't you already applied for pip? It's not a fortune, but it helps those who qualify for it.

@FourTeaFallOut

I presume you've looked at how much the ERC is, this near to the end of your term it might be less than how much you'll save.

@Flopisfatteningbingforchristmas Are you sure this is a saving you need to make? With the way the NHS is going, & especially as it's heavily subsidised I wouldn't give it up until there was absolutely no choice in the matter & id go without a lot first.

I don't have any & with underlyings (now) it is incredibly expensive!!

I've always had to watch our money to make it spin further than it should or we'd never have anything nice but I am hoping some of the new changes will help.

Water savers from water supplier
New smart meters fitted
Growing our own veg
Trying to keep weekly food down to £65 (family of 5)
Using the dishwasher less
Encouraging older children to east one night at their DD (no money from him)
Everything is bought second hand pretty much unless I can't find it
Selling anything we no longer need
Old two teens have jobs plus free take away pizza so no takeaways needed.
Reduced alcohol
We shop between Aldi and Sainsbury's. We use the hand held scanner so can see what the running total is. We put fuel in at Sainsbury's too. It may not always be cheapest but we go every week any way and I'm hoping the nectar points will help at Christmas

Things like hairdressers/nails/make up have long been a massive luxury but by being tight I can pay the bills and we can have the odd weekend away.

I don't really know where I'll make any more savings..... And that is scarry!!

When my phone contract ends I’m not getting a new phone and going sim only

we’re removing an add on to sky but we can’t end the contract as we’ve just renewed for a year

reduced my trips to nail Salon, now it’s fingers once a month and toes every other month 😩

much less nights out/ meals out

genuinely concerned about the next energy price rise and my mortgage is up in November I can fix a new deal next month so I’ll be doing that to try and avoid bigger rises but at least I’ll know where I stand

Too bloody disabled to cope with the forms (forms =instant meltdown) too busy dealing with keeping the show on the road with two autistic kids exams COVID, Hospital appointments, and a recent diagnosis or two and only got worse enough in the last year or so and it did not occur to me that I might qualify....

We have been cutting down on our energy use as much as possible. DP wfh 5 days a week and I'm currently on unpaid leave from work with our toddler so we are both here day in day out. I hardly use the oven now as it costs so much to run. I either batch cook in slow cooker, then freeze and reheat in microwave or use our air fryer. Our usage is about £110 a month for both gas and electric, I don't know how I will get it any lower so I am dreading winter as don't know how I will keep us warm.

We've cut down so much on the food shop too but not much further we can cut back now. Every week I notice items we frequently buy have increased. I don't know whether to stock pile dried foods before they go up even further..

Some lenders will let you lock in a deal 6 months before your fix is up. If your current lender you can look at other providers. Lloyds definitely let you lock in 6 months before.

I get your point but nothing we have needed over the last 4 years has been covered by it anyway!

I am worried about how things will be in the Autumn and we are lucky to be reasonably comfortable. Things I have done recently include:

Cancel magazine and coffee subscriptions
Read magazines for free online using Libby app
Order new library books online to read
Stopped using Amazon app to buy things
Used my employer’s eye test scheme to get a free eye test and contribution to new glasses
Reduce alcohol and stop takeaways
Bring coffee with us instead of buying out
Ive become a fan of couponing and got a good deal recently with the Kelloggs free tickets offer.
Line dry clothes and cut out fabric conditioner
Only buy in the sales now
Heating and lights off.
Try and save as much as I can.