Families 'may be cutting back on utility outgoings'

With the cost of living rising in the currently difficult economic climate, many families may be looking to make cutbacks on their regular outgoings.

This might be particularly applicable for those who are attempting to build a credit rating in order to take advantage of a greater range of financial products.

Research from Shelter found 22 per cent of Brits have spent less on gas and electricity in order to pay for their mortgage or rent.

Whilst turning down the heating a degree or two map help on milder days it is best to shop around for the cheapest utility providers. This can help contribute towards reducing financial outgoings.

The government is currently running a campaign entitled Big Energy Week, which is aimed at increasing awareness of methods individuals can take in order to reduce their utility costs - such as by taking advantage of free or discounted insulation.

Posted by Martin Peacock