Inflation may be slowing but Britain still has to cope with eye-wateringly high energy and food prices. People have had to get creative with ways to reign in their spending while salary rises – when on offer at all – fail to plug the gap.
If you’re looking for money-saving ideas to pass on to employees, Good Housekeeping magazine has a wealth of ideas, a few of which we list below.
- You can cut the cost of your weekly food shop by choosing supermarkets’ budget and own-brand ranges and using their loyalty cards. Planning your meals every week, checking the fridge and store cupboards before hitting the shops, batch-cooking, and making a point of using up or freezing your leftovers are also effective cost-busting habits.
Beyond the supermarket, if you’re an impulse shopper, stay away from the shops or limit your visits to the Sales. Actively seek out online coupons, vouchers, and codes – as well as cashback websites – before reaching for your wallet. Always read the small print.
- In the winter, reduce your heating levels by a degree or two and reach for another layer of clothing instead. Look into the costs of improving your home insulation and/or invest in draught excluders. Get into the habit of turning off or unplugging devices on standby mode. Replace your energy-guzzling light bulbs, printers, and heaters with energy-efficient alternatives.
Research energy suppliers to see how prices compare to your current supplier. If the numbers stack up, make the switch. Apply the same principle to your broadband and insurance providers.
- Drive down your fuel consumption by walking, using public transport, and carpooling. When you drive, reduce your speed and drive smoothly to use less fuel. Removing heavy items from your boot has a similar effect. Compare petrol costs at various petrol stations before filling up.
If you use public transport, check your bus, train, or tube website to see if you’re eligible for any discounts. Could you also change your work hours to save money by travelling at off-peak times?
For advice on how to broach the subject, please see our How to talk to employees about the cost of living crisis article. To explore the topic from a more economic point of view, please visit BBC.com.
For more cost-saving tips and tricks, please see our How to weather the cost of living crisis article.
We hope you and your employees find the above tips useful. Your expert recruitment partners here at ABL Recruitment wish you well as we all continue to work hard to weather this particular financial storm. If you’d like to discuss any of the points raised – or to find out how we can save you time and money in your recruitment efforts, and deliver great hiring outcomes – please get in touch on 020 7092 3911 or at info@ablrecruitment.com.
