Around 80% of parents in Britain are struggling to cope with the soaring costs of raising children as household bills drastically increase amid the cost-of-living crisis. In response to the struggle, Laura Howard, a finance expert at Forbes Advisor, has provided her seven top tips for families to the Daily Mirror.
Recent figures by the Office for National Statistics (ONS) show that around 90% of adults in Britain reported that their cost-of-living increased in March alone, mainly due to rising energy prices. Millions of people are being forced to choose between giving up a meal and heating their home as inflation hits a 40-year high.
Read on for Laura’s top tips to cope with the cost-of-living crisis.
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Stop paying credit card interest
Paying interest on credit card balances at a typical 20% APR variable can be cripplingly expensive. “It’s possible to move balances from several card providers up to, say 90% or 95%, of your allocated credit limit, to a 0% balance transfer card,” Laura says.
(Image: Aaron Chown/PA Wire)
Look for cheaper insurance deals
Laura recommends shopping around for the best insurance deals. She said: “Certain costs such as mortgage or rent, and council tax are simply immovable.
“But when it comes to annual insurance policies, such as for your home and car, make sure that you have…
