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Six ways to make savings up of £5,000 as cost of living and energy bills soar


The cost of living crisis is hitting households across the UK so people are desperately seeking help when it comes to saving money to help them in the face of rising energy bills and rising costs

The Bank of England issued a stark warning that inflation could hit 10%
The Bank of England issued a stark warning that inflation could hit 10%

As the cost of living crisis puts pressure on millions of households across the country – there could be yet another rise in bills this year.

The Bank of England issued a stark warning that inflation could hit 10% – with households already struggling with the energy cap rise.

And the bank has also warned bills in October could be set to increase by 40%.

These rises would see the average cost of gas and electric rise by another £800 at a time when households are already cutting back.

We’ve put together a handy guide of help from a range of organisations, including suppliers, charities, the government and local councils, which could be worth hundreds of pounds.







Millions of households are struggling with rising energy prices
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Council tax discount – as much as £1,898

Some households on low incomes could be eligible for a discount on their council tax.

To find out if you’re eligible and apply you’ll need to contact your local council – you can find yours , just enter your postcode.

Energy supplier grant – up to £750

The energy rise is hitting millions of households across the country and as a result British Gas, Octopus Energy, and Shell Energy have upped their own hardship grant to help customers.

Octopus Energy have increased their hardship fund from £2.5million to £5million.

However, the amount you could be eligible for depends on your supplier and your circumstances.

If you’re on a low income or receive benefits you could qualify – but you need to ask your supplier and see what you could get.

Grants are available that could support you making bill payments with over 8,000 charities and organisations in the UK that offer cash to low-income families.

This can include food, washing machines, cookers and food.

Turn2Us has a free grants search tool which you can check to see what help could be on offer for you.







Households are looking for ways to save money on their bills
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Household support fund – up to £150

This scheme was extended in March, so if you missed out last time, you have another chance to apply.

Local councils are helping households with bills and essential items.

To see what’s available where you are, and to apply, you’ll need to check with your local council.

You can search for yours using the search tool on gov.uk – just enter your postcode.

Local councils also offer welfare assistance schemes all year round that can help you with bills too.

Council tax rebate – £190

If you live in a property in council tax bands A to D, you will receive a £150 council tax rebate to help with the cost of living – which 80% of households will be entitled to.

Your local authority will automatically credit the refund to your account from this month if you pay by direct debit.

If you pay by another method – you will have to apply for the rebate through your local council.

In addition, a separate £144million fund has been launched which local councils to help low income households.

Some councils like Camden have opened applications for the cash worth up to £150 – with low income households potentially qualifying for extra payments.

Our Cost of Living team of experts are here to help YOU through a very difficult year.

They’ll be bringing you the latest money news stories and also providing specialist advice.

Whether it’s rocketing energy bills, the cost of the weekly shop or increased taxes, our team will be with you all the way.

Every Thursday at 1pm they will take part in a Facebook Live event to answer your questions and offer their advice. Visit facebook.com/dailymirror/live to watch. You can read more about our team of experts here.

If you have a question – or want to share your story – please get in touch by emailing webnews@mirror.co.uk.

Unclaimed benefits

There are over £15 billion of unclaimed benefits – an average of £2,142 a year each, according to Charity Turn2us.

There is also £1.7 billion in Pension Credit alone going spare – which is worth £3,300 to those on low income families.

To see if you’re eligible try free-to-use online benefits calculators to work out what you’re entitled to by using Turn2US, EntitledTo, and PoilcyinPractice.

After seeing what you could be entitled to, use the contact information on Gov.uk to start your claim.

New bill discount – £200

The government announced every single household will get a £200 discount on their energy bills – but this will have to be paid back.

It will be in the form of £40 added to annual bills over five years from next year.

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