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Coping with the cost of living

You may be worried about the prices of everyday purchases like food and energy are rising. You are not alone, we’re here to help you.

We're here to help you

Data from fincap.org.uk* suggests that at least 39% of adults (20.3 million) in the UK don’t feel confident managing their money and roughly 11.5 million of us have less than £100 in savings. So with the current changes to the cost of living, many people will be financially stressed as their daily costs rise.

Here at Sainsbury's Bank we know how important it is to get the right information into your hands. Below we have a variety of resources that you can use to get ahead of the cost of living as well as tips and tools to make budgeting less stressful.

*Data taken from this post on their site, accessed on 08/06/2023

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Help with budgeting

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Frequently asked questions

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Top tips for managing the cost of living

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Sainsbury's Bank cost of living report

Use the StepChange budget tool to help you handle your costs

Sainsbury’s Bank is working in partnership with StepChange to provide customers with access to free debt advice and support.

StepChange provide free, flexible debt advice, practical help and guidance for however long it’s needed. Whether you need budgeting tips or free debt help, you can be confident that they can provide the support you need to achieve long-term financial control. 

Take the free Money Health Check to find out how StepChange could help you. It’s quick and easy to complete, and will give you a personalised recommendation on what to do next.

StepChange Budget Tool

 

A few points to remember when seeking help with the cost of living

Professionals or organisations you speak to while seeking financial advice will:

  • Never judge you or make you feel bad about your situation
  • Always be happy to talk to you, however big or small your problem might be
  • Find ways to manage your debts even if you think you have no spare money
  • Suggest ways to deal with debts that you might not know about.

We hope the information and support on these pages will help you to feel less stressed or anxious and help you to feel more in control of your finances again. If you're worried about missing a payment or that you may be in financial trouble then there are lots of ways we can help you, please contact us on 0800 085 6934 and we can discuss options. Lines are open 8am-8pm Monday – Friday and 8am-4pm Saturday.

Please remember, when seeking advice from other professionals, that debt advice is confidential and this won't affect your credit file or involve a credit check.

If you need help with persistent debt

If you are in persistent debt and need help or advice visit our persistent debt webpage.

Are you worried someone else is controlling your finances?

If someone else controls your finances without your consent and won’t let you have your own money, this is known as financial abuse.

If someone has pressured you into taking out a card or loan in your name, or you’ve noticed transactions on your account that you didn’t make, this could be financial abuse.

If you're worried this is happening to you or someone else, there are signs to look out for.

There is further support and helplines where you can talk things through and get some practical advice.

Download this useful guide from UK Finance for further help

UK Finance It's Your Money (PDF, 3,300 KB) opens in new window  – how financial services firms can help if you’re a victim of financial abuse.

You can also call us on 0800 085 6934 if you're worried about financial abuse.