How to AVOID DEBT with the RISING COST OF LIVING
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- เผยแพร่เมื่อ 16 ก.ย. 2024
- Can you afford the rising cost of living or will you end up in debt? Even those of us who have managed a healthy balanced household budget could rapidly see ourselves being plunged into debt due to the rising costs of living. Rising energy prices are the real big impact and those of you who are not yet suffering the increase in the price of gas and electricity - be warned - the outlook is bleak.
Here we look at:
- A healthy well-managed household budget
- How fast the rising costs of living plunges the well-managed budget into debt
- How to mitigate, and
- Future warning.
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This only works of course if everyone in the house is on board with saving money. My partner ignores any changes I try and make and actively gets hostile when I try and talk to her about changes in what we spend. The joint account was the biggest mistake I ever made.
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Quite an interesting spreadsheet. I learned a lot from this 👍🏼
Glad to hear it!
Really insightful … thank you for your videos 🙏
You're welcome
Useful as always, thanks Helena
You're welcome
Very interesting exercise 👍🏻 Thanks. I think what most people would do is before cutting lifestyle costs is stop saving - not advisable but understandable.
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Useful content. Sadly the only way to tackle the cost of living crisis is to get into a better paying and increase the Income. Moaning and finding excuses is not going to solve anything. Windfall tax is not a sustainable solution and even if it goes ahead, the money raised may never reach the people in need. Everyone has to take responsibility and do something to improve their well being...Inflation is a global issue and with the Chinese situation, will only exacerbate global supply chain woes and worsen inflation.
I'm not sure how the windfall tax would benefit the people paying the gas and elec bills either - the money would just go to government and would not lead to a reduction in the bills we have to pay.
Thank you for all your frequent uploads. I am feeling the rises in food and energy and fuel dispite working 60hrs a week. I'm on a 1.79% fixed mortgage for another 2 years, I'm wondering if it's worth paying a 2% exit fee and fixing for 10 years at 2.3% ? Any thoughts please Helen?
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Have your energy bills shot up yet? This video provides a stark warning of how bad it is for your finance and what to do about it