Almost three quarters (74%) of UK adults are worried about inflation or the rising cost of living, according to a recent study by insurer Aviva.

The recent spike in inflation means a spike in household bills for everything from grocery shopping to fuel for the car.

Add to this the recent increase in energy bills for around 14 million households across the country, coupled with the reversal of the £ 20 per week increase in universal credit and the cancellation of UK government financial support for self-employed and employers affected by the coronavirus pandemic and subscribes a pretty bleak picture for the coming winter months.

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However, if you want to keep an eye on your bills and cut your expenses and make some savings before the new year, there are a few ways to take the pressure off.

While the savings could be huge – if you followed all 10 of these cost cutting tips – in reality you only need to get a thing or two from the list below to improve your personal finances.

10 ways to cut costs and save money this winter

1. Make small changes to your routine

Traditionally, people bought their energy in order to make big savings, but since cheap deals have disappeared due to the rise in the wholesale price of gas around the world, you can still make changes to your routine that could offset some of the household bills increase.

By taking a quick shower instead of a bath, you could use around 70 liters less water each time, according to Smart Energy GB.

It also recommends drying clothes outside on dry days rather than always using a tumble dryer. Although we are now entering the colder months, this may be something to consider for spring.

Washing clothes at 30 degrees could also save electricity and turn off standby devices before work, at night and when not in general use, said Smart Energy GB.

2. Make sure your boiler is efficient

Maintaining a boiler helps minimize energy costs by running more efficiently and reducing the risk of future failure, according to Gas Safe Register.

Even when money may be tight, it is important to make sure that gas appliances are safe. According to the Gas Safe Register, warning signs include sluggish yellow flames, indicator lights that go off constantly, black spots or stains on or around gas appliances, and increased condensation in the windows.

3. Find out about grants and benefits

Regulator Ofgem says some people might be eligible for financial assistance during the colder months, including winter fuel payments, cold weather payments, or the warm home discount – find out more here.

Employees who have worked from home for at least one day from April 6, 2021 can also claim tax breaks of up to £ 125 with HMRC – find out more here.

4. What other bills could you cut?

Martin Lewis recently urged any paying auto or home insurance company to inquire about a better deal before the rule changes go into effect in early January.

The finance guru said the reason for the change is to end price maintenance – where customers who renew their insurance policy every year are penalized by seeing their prices while new customers get the best deals – learn more here.

5. Reduce travel costs

If you return to your office or workplace now after the restrictions are lifted, you may be burned gasoline prices due to the recent spike in inflation.

One way to get around this is to share with a friend, neighbor or colleague, or to buy a season ticket for the train or bus.

6. Save on food

Bringing a grocery list with you to help keep you focused and visiting your local grocery store at a time of the day when it’s cut down can help keep the bills down.

There may be other ways to save using apps like Too Good to Go, which allow users to buy groceries in their local stores and cafes at a reduced price that might otherwise be wasted, but you don’t know for sure what food you will receive until you pick it up.

The way food is cooked could also keep costs down – Smart Energy GB says stews mean fewer dishes to wash up, which reduces heating and water bills.

7. Could you have taken out a cheaper mortgage contract?

For many people, their mortgage is their biggest recurring expense. Even for some people who think they are having trouble switching, it may be worth checking out.

The Intermediary Mortgage Lenders Association (IMLA) says many providers will lend to applicants with “non-standard” financial circumstances.

The IMLA’s survey of mortgage lenders found that 88% would accept applications from self-employed borrowers and 71% would consider borrowers with irregular incomes.

Acknowledging the disruption caused by the coronavirus pandemic, 16% of lenders have cut the deadlines for self-employed borrowers to provide proof of income.

Shop smart this Christmas and save money for 2022

8. Sort your savings

If you have any cash left over, make sure it pays interest.

Tina Hughes, director of savings for the Yorkshire Building Society, says the society estimates that people typically have a deficit of £ 7,220 between the amount of their savings and what they need to feel safe.

She suggests making sure that the money isn’t in a zero interest checking account when it could earn at least some of the interest in an easily accessible savings account or even a fixed deposit account if you can lock your money for a while.

9. Take your time shopping for Christmas

Doing small amounts of Christmas shopping when you see a great deal, rather than panic buying at the last minute, can save you money in the long run. It also gives you more time to research prices.

There are a number of ways to stay up to date with the latest money saving and benefit news from the Daily Record.

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10. Book the Christmas train tickets in advance to save

According to Trainline, pre-sale tickets have been made available for popular trips during Christmas week.

It also has a free ‘Ticket Alert’ service where people can enter their desired trip. Some people could also save with Bahncards.

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