Managing Your Finances

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 Living in Llanelli we’ve had a tough time during the past few years. 

 The covid pandemic cost lives, and the government enforced lockdowns forced many small businesses to close temporarily to stop the spread of the virus. 

 Now we are dealing with a cost of living crisis that is pushing many people to the brink of hardship. 

 Inflation is making your money have less value, and everyone is feeling the squeeze.

 Many businesses have done the right thing by increasing pay for their employees, but more still needs to be done.

 Let us not forget that workers are the backbone to any business, and without them a business wouldn’t be able to operate. 

 Rents are increasing and people are paying more on their mortgages. It is fair to say that people who work should be compensated by having their wages increased in line with inflation.

 Anyone looking around the shops lately have likely asked themselves why has the price of food risen so much. The rise in fuel and the higher cost of packaging is one reason why prices have gone up. 

The rate of inflation for food is at nineteen percent, but this doesn’t always reflect what we pay at the till. A one litre bottle of vegetable cooking oil about two years ago cost under a pound, but it would set you back two pounds today. 

 This is a massive increase. Russia invading Ukraine is a big factor in the cost of living crisis. But there is also an argument to be made that big businesses are using the war as an opportunity to make more profit. 

Britain and the Western Governments are continuing to fund Ukraines war effort. This means the war isn’t going to end any time soon, so the prices are going to remain high. 

 There are a few things we can do as consumers to manage your finances better. Something that I started doing is only taking showers at the gym. That is not something that would work for everyone. It only works out cheaper if you’re already paying for a gym membership.

 The major food brands have put their prices up significantly. The big supermarkets like Tesco and Asda are always trying to lure customers in store by competing with Aldi and Lidl on their prices. 

 To save money on food shopping people could stop spending money on the big brands because you can often get the same item for nearly half the price. The supermarkets have really worked hard to improve the quality of their own brand food, and by purchasing these items instead of the big brands we can really save a lot of money at the tills. 

Another way to save money on food shopping is to get to the supermarkets at about 7pm. It is approximately this time that they sell reduced food at its cheapest price. You have to be quick because the good stuff gets snatched up quick. 

A good way to manage your finances is to write down all the money you have coming in and write down all your bills. You can then work out how much you have left for food shopping. If you are able to get reduced meat from the supermarket at  7pm, at its lowest price, you will be able to freeze it and make good quality cheap meals to feed the whole family.


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