Cost of Living Support from SBS

Wednesday, September 13th, 2023

Navigating UK’s Rising Cost of Living:
SBS Support.

In today’s world, we understand the increasing challenges that many individuals and families face when it comes to managing the cost of living. Rising food and energy prices, coupled with other everyday expenses, can make it incredibly tough to make ends meet. At the Swiss Benevolent Society (SBS), we are keenly aware of the difficulties that Swiss Nationals living in the UK may be experiencing. If you’re feeling overwhelmed by the financial strains brought on by the current economic climate, you’re not alone, and SBS is here to help.

Understanding the Cost of Living

The cost of living encompasses various essential aspects of daily life, from housing and utilities to groceries and transportation. Each of these areas plays a critical role in determining the overall financial health and well-being of individuals and families. Let’s take a closer look at some of these cost-of-living components and how they’re affected by the current inflationary trends in the UK.

Housing Costs

Housing Costs are the most significant part of Cost of Living

Housing is often the most significant expense in one’s budget. With housing prices steadily rising, finding affordable accommodation can be a daunting task. Renters and homeowners alike are feeling the pinch as they struggle to keep up with mortgage payments, rent increases, and property taxes.

Utility Bills:

Utility Bills such as Heating, Gas, Electric are a big part of the Cost of LivingEnergy bills, including gas and electricity, are as expensive as never before. The impact of increasing energy costs is particularly felt during the colder months when heating becomes a necessity. These rising bills can put additional stress on individuals and families, especially those on fixed incomes.

Grocery Expenses:

Grocery Expenses make up a big part of the Cost of LivingThe cost of groceries has been steadily increasing, affecting everyone’s budget. Families are finding it challenging to maintain healthy diets while staying within their financial limits.

Transportation Costs

Rising Transportation costs such as Commuting are a big part of the Cost of Living

Whether it’s fuel for your vehicle or public transportation expenses, getting around is becoming more expensive. Rising fuel prices can significantly impact your monthly budget, especially if you rely on your car for commuting.

The Role of Inflation

The current inflationary pressures in the UK, with an inflation rate of 6.8% as of July 2023, have further exacerbated the challenges associated with the cost of living. Inflation leads to a decrease in the purchasing power of money, making everyday goods and services more expensive. As prices continue to climb, individuals and families must allocate more of their budgets to cover these rising costs, leaving less room for savings or other essential expenses.

To stay informed about the current inflation rate and its impact, you can use the Bank of England’s Inflation Calculator available on their website.

How SBS Can Help

At SBS, we understand the multifaceted challenges of navigating the cost of living in the UK. Our mission is to provide support and resources to Swiss Nationals in the UK facing financial difficulties. If you’re feeling the financial strain, don’t hesitate to reach out to us. We can help in various ways:

  1. Financial Aid: SBS offers means-tested financial aid to Swiss Nationals living in the UK. Whether you need assistance with housing costs, energy bills, or groceries, we are here to provide support tailored to your specific needs.
  2. Guidance and Resources: Our team can provide guidance on accessing government benefits and support programs available to you. We can help you understand your entitlements and navigate the application process.
  3. Practical Support: SBS provides valuable assistance with administrative tasks. Whether it’s setting up online accounts, making phone calls to relevant institutions, or offering in-person support, we’re here to help with essential tasks like benefits applications, writing correspondence, and research. Let us assist you in tackling these challenges.

Reach Out Today

If you’re feeling the financial strain and uncertainty associated with the rising cost of living, don’t hesitate to contact the Swiss Benevolent Society. We are committed to enhancing the quality of life for Swiss Nationals living in the UK, and we’re here to help you find the support and resources you need during these challenging times.

Remember, you don’t have to face these challenges alone. Reach out to SBS today, and let us work together to alleviate the burdens of the cost of living and create a brighter future for you and your family.