uSwitch.com launches guide to combat the credit crunch

uSwitch.com has launched a money savings guide on its site to help consumers who are beginning to feel the pinch.

It is now crunch time for British households as the downturn in the economy, below-inflation pay rises and the reality of having less money in our pockets begins to hit home.

At 3.3% inflation is now at its highest level for 11 years and with the Office of National Statistics warning that the price of food, clothes, petrol and other goods is set to climb faster than most people's salaries, things could get a whole lot worse before they get better.

Essential living costs are rising at the fastest rate since records began 22 years ago, affecting families' disposable incomes which are dropping at a rate not seen since the 1970s. Energy bills alone could potentially account for a crippling £1,327 of a household's annual budget by the end of 2008 - an unprecedented 46% rise in just a year.

The reality is we are working harder than ever before, but ending up with less money in our pockets at the end of every month. However, there are ways to ease the financial burden and beat the price rises. Households could save up to £1,500 on bills and financial services by following some simple money saving tips.

Ann Robinson, Director of Consumer Policy at uSwitch.com comments: "British households are feeling the pinch more than ever before, and it doesn't look like the situation is getting any better over the coming months. But while consumers are struggling to make ends meet there are measures they can take to reduce their monthly outgoings. Households could save up to £1,500 on bills and financial services by following the simple money saving tips within our guide."

For more information, visit uswitch.com/money-saving-tips/?source=title