Household bills have never been higher with the soaring cost of living, so it’s important to save the pennies where possible.
As the Mash Direct Belfast City Marathon team celebrate their 40th birthday – marking 40 successful marathons, sponsor and price comparison expert, CompareNI.com want to help people save money and reduce their financial worries – creating a list of 40 ways to create savings with tips on key household bills and essentials.
Northern Ireland’s largest price comparison website surveyed over 1,000 households across the UK to ask about financial changes over the past 12 months. Nearly two thirds, 59%, said the bill that has increased the most this year was energy (including home heating oil), followed by motor fuel costs (petrol/diesel) at 23.7% and groceries at 12.8%.
SAVINGS ARE BEING DEPLETED
Nearly half, 42.9%, said they were spending over £100 more each month compared to this time last year. A shocking 26.5% said they were spending more than £250 extra per month, and just 1.1% said they were spending less than last year.
Worryingly, 65% of people said they were unable to add anything to their savings. 21.5% were able to save a modest amount (under £100) per month, and only 13.5% were able to save more than £100.
HALF THE POPULATION WANT GOVERNMENT HANDOUTS
When asked ‘what would be the biggest help right now’, 50.8% said government support funds, 26.3% said more choice from energy firms and 13.8% said streamlining of grocery prices.
The ‘biggest financial worry right now’ for households was the cost of energy, with a landslide 73.3%, rising household food bills was a distant second at 9.7%, while 8.7% of households cited motor fuel costs.
CHECK ONLINE BEFORE SIGNING NEW UTILITIES DEALS
As official sponsor of the Mash Direct Belfast City Half Marathon, CompareNI.com has launched a series of money saving initiatives designed to help support people here in Northern Ireland, including the #MoneyHealthCheck Challenge – teaming up with Cancer Focus NI, the official marathon charity partner. Charity staff tried the CompareNI.com quick quote calculator to see how much they could save – with the average saving found to be £238 per person, ranging up to £305, across typical household bills, which was then donated to the charity in support of the important work Cancer Focus NI is doing on cancer research and immunology.
Ian Wilson, Managing Director, at CompareNI.com says: “We wanted to partner the Mash Direct Belfast City Half Marathon to support local people and local fundraising. We work hard to create savings specifically for people in Northern Ireland and our hope is that families check out our 40 ways to save to help them review their finances and find savings they didn’t know they had.”
The Mash Direct Belfast City Half Marathon is sponsored by Athletics Northern Ireland, Daily Mirror, Belfast City Council, Better, Cool FM (Downtown Radio and Downtown Country), Translink, Belfast Live, Tayto, Four Star Pizza and CompareNI.com. This year’s official charity is Cancer Focus Northern Ireland