Paying your own way

^{(Source: Office for National Statistics, 2020)}

Don’t panic – the figures above represent average yearly household figures.

For most young people moving into their first place, these costs will be far less.

We all need a safe and secure place to live.

How much that costs depends on many things, such as:

• the type of housing
• where in the country it is
• whether you’re sharing the cost
• whether you’re renting or paying a mortgage.

In places where many people want to live, such as big cities, the cost of accommodation can be far higher than just a few miles further away.

For your first home you might want to consider sharing with others to try and spread the costs.

It’s easy to buy the food you need when you need it, often every day.

Although it might seem more expensive at the time, it often works out cheaper to do a weekly shop.

This way, you can set yourself a weekly budget and stick to it.

It’s easy to be tempted by the offers and discounts in the major supermarkets. But make sure you need the things you buy before you end up spending more than you need, or wasting food.

You could also try buying supermarket own-brand or basic ranges, which can be far cheaper than branded products.

Utilities are made up of gas, electric and water.

You can’t change the cost of your water bills as it’s set by your regional supplier. In Scotland, this will be your local council unless you’re on a water meter.

You can, however, haggle with or switch your gas and electricity supplier – so make sure you shop around for the best deals.

Each gas and electricity company offers a range of tariffs, just like with mobile phones. So spend some time making sure you’re on the best tariff for you.

Switching supplier is easy and can help you make some big savings.

This can be far more than you expect after taking petrol, insurance, and repair bills into account.

You need to be covered by a TV Licence to:

• watch or record live TV programmes on any channel
• download or watch BBC programmes on iPlayer.

This could be on any device, including a:

• TV
• desktop computer
• laptop
• mobile phone
• tablet
• games console
• digital box
• DVD/VHS recorder.

You could face prosecution and a fine of up to £1,000 if you’re caught watching without a licence.

Just like with utility bills, switching broadband provider or changing your mobile phone contract can save you money.

So, when you’re getting a new contract, or your old ones comes to an end, make sure you’re comparing the deals you can get to save money.

If you’re struggling to pay for your everyday living costs, you might be entitled to certain benefits.