Cost of Living Crisis Hits Hard – But There’s Hope
The cost-of-living crisis has pushed prices of food, energy, and more through the roof over the past 18 months. Inflation is finally easing but remains stubbornly above the Bank of England’s 2% target. And experts warn it’s likely to stay high for some time yet.
Spending Slashed on Non-Essentials
Millions are tightening purse strings. Latest data shows around two-thirds of adults are cutting spending on non-essential items due to rising costs. So, is there any way to make extra cash or save a bit right now? The answer is yes.
How to Make Money Now
If you need to boost your funds, here are top ways to make money fast:
- Turn your hobby into cash: Got crafty skills? Sell homemade goods, art, or writing online. Platforms like Etsy are perfect for side hustles — and who knows, you might even ditch your day job if it takes off.
- Clear out clutter for cash: Sort through unwanted clothes and furniture. Sell them on Vinted, Depop, or similar sites. You could be sitting on a small fortune.
- Rent out spare space: Use that parking spot near train stations or airports for quick income. Got a spare room or second home? Airbnb’s another solid option to bring in cash.
Saving Tips to Keep More Cash in Your Pocket
Saving money might feel tough now, but it’s doable with smart moves:
- Track your budget: Know your income and essentials. Even small savings add up over time.
- Pick the right savings account: Look for high-interest options like ISAs to make your money grow tax-free.
- Shop smarter: Compare prices across supermarkets to find the best deals on your groceries. It pays to shop around.
- Cut energy costs: If you haven’t got a smart meter yet, consider getting one. It helps track usage and pinpoint where to save on your bills.
Are you ready to tighten your belt and pad your wallet in 2023? These tips could make all the difference.
