Financial Matters

With Akwasi Duodu | akwasi@sterlingandlaw.com |

How do I manage my money better during the cost-of-living crisis?

I was at the supermarket at the weekend and overheard an outraged couple discussing the dramatic price increases. The price of a loaf of bread had apparently gone up from £1.06 to £1.36 in the last 12 months – an increase of 28%. The price of a pint of milk had more than doubled in 12 months from 42p to 95p an increase of 125%. With wages increasing at 5% on average, they had every right to be outraged.

I was taken aback by two things: 1: The incredible awareness this couple had on the price of their shopping (they must be accountants) and 2: The dramatic real-world increase in the cost of essentials like bread and milk. It got me thinking that we should all be thinking like them.

How do you cut costs in a cost-of-living crisis?

One of the best ways to save money is to track your spending and cut down where you can. Start by creating a budget, which is a list of all your expenses. Include everything. Daily expenses like travel weekly expenses like groceries, monthly expenses like direct debits and annual expenses like holidays. Measure this against your income. Even if there is a healthy surplus, get a red pen and circle anything you think you could be saving on.

Where can you make savings?

Is the petrol station you use regularly the cheapest? Could you walk to certain places instead of driving? If you buy lunch at work, could you prepare your own? Could you eat out less and cut down on socialising? Have you considered switching energy suppliers? Could you be paying less interest on your credit cards by switching? There are so many ways. Small savings here and there could make a big difference.

Where you shouldn’t compromise

Getting that red pen out can be dangerous. You may see entries for life insurance, pension contributions and regular savings. You may be tempted to circle these with your red pen, thinking you could pause them for now and restart them later. Don’t! There are certain things you shouldn’t compromise upon when trying to make savings. Your insurances, pensions and savings plans are top of that list.

Will the cost of living ever go down?

Experts predict that this crisis will last another few years, possibly until 2028. But it’s unlikely that prices will normalise in the short term. There will always be inflation however the rate of increase in prices will hopefully slow. The Bank of England says that wages will probably keep closer pace with the prices of goods and services in a few years’ time. Whether this will be felt in our pockets remains to be seen.

Get support where needed

If you’ve gone though all the above exercises and still find yourself sinking, you may be entitled to support. You don’t ask, you don’t get, so ask for help. Don’t wait! Energy suppliers, mortgage lenders, bank loan and credit card providers all have departments and schemes dedicated to helping those who are struggling. They could help you without destroying your credit rating. Speak to your financial adviser if you have one and see what they suggest. The Citizen’s Advice Bureau is also a useful source of information and help. Get in touch to see how they could support you.

BabyBallet

The award winning movement to music, dance & singing programme for boys and girls from 6 months upwards run with a fun, safe and caring environment. Classes in Dulwich. Call Stephanie 07809 148348 | www.babyballet.co.uk.

Boppin Bunnies

Interactive Music class for under 5’s led by professional musicians. Monday mornings 9:30am, 10:15am & 11am. Punk Me Up Ceramics Cafe. 34 East Dulwich Road, SE22 9AX www.boppinbunnies.co.uk.

Diddi Dance

Funky pre-school dance classes for girls and boys. Learn coordination, rhythm and great moves to funky songs and boost confidence. Classes in East Dulwich, Anne-Marie for a free trial 07973 982790 | www.diddidance.com.

District & Dulwich Twins Club

Baby and Toddler Group every Friday 10am-12pm (turn up at any time!), at Peckham Rye Playrooms (SE corner of the Rye). It is for multiples only, but you do not have to be a member of the club to attend. BYO coffee cup! www.ddtwinsclub.org.

HartBeeps

Mondays at Christ Church, 263 Barry Road, East Dulwich, SE22 0JT. 10am Happy House, 11am Baby Beeps & 12.15pm Baby Bells. Fridays at Ewart Community Hub, 44 Wastdale Road, SE23 1HN .10am Happy House, 11am Baby Beeps & 12.15pm Baby Bells. http://hartbeeps.com

Little Superhero Training

Practice your Superhero moves! Discover Superhero fun facts! Any Little Heroes, Boys and Girls aged 2 - 5, Come along for a FREE taster session. Mondays & Fridays (term time only) St Barnabas Parish Hall, 23 Dulwich Village, SE21 7BT. Contact Lucy 07813 791757 | lucy@littleherocompany.com www.littleherocompany.com

Lucy Sparkles

Outstanding music, drama and dance classes and parties for young children. Fun classes where children engage with singing, movement and live music whilst enhancing learning through developing physical, emotional and intellectual skills. Tues, Weds & Fri classes for different age groups/ themes. sarah@lucysparkles.com | 07929 784 719

Nibble Arts

Are you looking for flexible 8:00 - 6:30pm school holiday childcare? We still have lots of places available at Goodrich Primary SE22 from 4th birthday to 11 - our unique creative childcare lets children explore a brandnew adventure through up to 4 creative workshops a day with industry professionals for February Half-term 14th - 18th Feb!

Children are looked after in key groups of 10 for a really personalised experience and you can request that they are grouped with friends who are also attending. We are Ofsted approved and you can book in advance up to the end of Summer Holidays 2022 1-5 days a week using childcare vouchers, tax-free childcare, card or instalment plans from £54/day. Where else can you be on video chat to an Arctic explorer live from Svalbard University one day, and meeting Sophie the giant animatronic T-Rex the next? For the full timetable and to book visit www.nimblearts.co.uk/how-our-clubs-work visit www.nimblearts.co.uk/how-our-clubs-work

Mini Athletics (SE London)

Winning the gold medal for children’s sports classes! Start your child’s fantastic journey in athletic development, designed for toddlers up to children of 7 years old. All through a fun play-based format. To try us out, contact Sam: 07811787153 | smcdermott@miniathletics.com www.miniathletics.com

Sing and Sign

Monday - Saturday. 020 7193 3696 | www.singandsign.com

Sparkle Music

Carefully structured and fun music classes for babies, toddlers and pre-school children in SE22. Check the website for current classes. Contact : anna@sparkle-music.co.uk. | 0771 1238352

Sunday Spot

Free, artist-led workshops for families at South London Gallery, 65-67 Peckham Road SE5, on the last Sunday of every month. For children aged 5–12 years with their parents & carers. Pre-booking advisable. www.southlondongallery.org

Our children’s activities pages have been popular for years and now they are back! If you run a class in any of these areas, then advertising in these pages are just for you. Each magazine has 5,000 copies which are hand-delivered every month. You can choose to go for 5, 10 or 15,000 copies, it is totally up to you. Contact Angela: angela@semagazines.co.uk for a rate card.