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Where to Seek Help with Cost of Living

By Louis H-P on November 13, 2022

Reading Time: 3 minutes

Help with cost of living is becoming more important for many of us. Although some will feel embarrassed at doing so, it may be their only choice. Yet there is still hope and options you can use to get through this difficult period. We have bought a few together which you may find interesting. 

Key Takeaways

Why this article concerns everyone

Solutions to help yourself

How the most powerful solution is within you

Why help with cost of living should not be a worry

We find ourselves in an incredible situation where at the very time our life costs are increasing, the government and its institutions (such as the Bank of England) are making things harder. Historically, when there is an economic shock, these very institutions will assist us with economic and monetary policy.

Yet in trying to protect us from a bigger risk (inflation risk), the Bank of England is having to raise interest rates. This is not helped by the government having to cut spending to balance the books after the support it provided during the Covid lock downs.

This has created an unprecedented situation which means you should not blame yourself if you find yourself in hardship.

Government support

The government has recognised by people need help with their energy bills. Due to the war in Ukraine and the policies pursued by Russia to bully the West into submission, energy prices are at multi-year highs. One way the government is trying to help is through the Energy Bills Support Scheme. This scheme helps those who need it with their energy bills.

You will also find that some Local authorities are providing solutions to those need it. Lambeth council is one example. Check your local authorities website for schemes which could benefit you.


There are numerous charities which are there to help in an economic downturn. This can cover areas such as housing, emotional support, transportation and even food. This latter is important due to the noticiable increase in food costs.

An example is a food bank. These will give you access to key source of nutrition that you need and it is free. Such venues are also a chance to meet others in the same predicament to you and exchange support. You may also find that the charity workers are able to offer further support in other areas.

Take up a team sport

help with cost of living can be found in teammates

You may think that spending money defies the point, but the outcome will be worth it. If you do not believe me watch the Full Monty! Although this may be a film, the characters are all down-on-their-luck people who are struggling financially. Yet when they meet and play football together in the park, they are all laughing and feeling better about themselves by the end. You may also find that your teammates are a source of support.

In London there is a company called go mammoth which organises adult leagues. They have multiple sports to choose from and the cost is rarely higher than £10 a night (often less). If you live outside London why not look up what your local sports clubs are?

Help with cost of living… start with yourself

This may be the hardest to do but is the most rewarding. I appreciate that some of you may be at the end of your wits, but often when you rely on yourself, you find the solutions work best.

Ask yourself what can you do which you are not doing? This may mean something new, or something you felt you would never be prepared to do. It will be hard, no-one ever said it would be easy, but you may find you end of up growing out of the situation.

Areas to look at are an extra-shift, working 6 days a week and or working 10 hours a day. This is demanding, make no mistake. Also to support this, what about focusing on eating vegetables, fruit and meat? (That last one is expensive we grant you). Such sources of nutrition will help you with the demands you are placing on your body whilst being cheaper than sugar based meals.


Sometimes seeking a little help will be the first step into helping yourself. Helping yourself is the most powerful remedy but you have to be prepared to admit you are human. Some of the schemes available will mean that there is one area which is a reduced worry, allowing you to focus on another which is a more important concern. Developing an ability to be selective and prioritise what is the greatest priority is a useful tool in today’s difficult period, but it is also a tool for greater success.

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Louis H-P

Louis is a portfolio manager and a trader who brings a wealth of experience in private banking to The Lazy Trader. A fundamentalist and a trouble-shooter, Louis makes a firm contribution to the trading team.

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About author

Louis H-P

Louis is a portfolio manager and a trader who brings a wealth of experience in private banking to The Lazy Trader. A fundamentalist and a trouble-shooter, Louis makes a firm contribution to the trading team.

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