In this blog, I'm exploring the harsh reality of navigating financial hard times such as the cost of living crisis.
(Watch the video here)
When I moved to the UK 25 years ago, it was a completely different place. The financial landscape was nowhere near as brutal as it is today. Back then, £50 could fill a trolley at the supermarket, covering at least two weeks' worth of groceries. Today? That same £50 barely gets me through a few days. The reality of living in the UK has changed drastically, and for many, it feels like a never-ending uphill battle.
The Illusion of a Salary Increase
A few months ago, we received a salary increment at work. When I first saw my payslip, I was excited—I even did a little dance. Finally, I thought, some breathing room! I imagined being able to pay my bills and have something left over. But that joy was short-lived. The cost of living has risen so dramatically that any salary increase is almost immediately swallowed up by rising expenses.
Just last Monday, I received an email informing me that my water bill would be increasing in April. I expected a rise, but seeing the actual amount sent my head spinning. This was on top of the gas bill that had already gone up months ago and is set to rise again soon.
Navigating Financial Hard Times: Cost of Living Crisis
The Reality of Daily Expenses
It’s not just utility bills. Everything is more expensive: rent, mortgage payments, groceries—you name it. At one point, my mortgage payment went from £700 to over £900 in just a few months. Panicked, I called my mortgage lender and locked in a fixed rate just to have some stability. Now, even if rates drop, I’m stuck with my current payment.
Taxes have also reached their highest levels in decades, yet there’s little relief for working people. Even those with stable jobs are struggling, cutting back on heating and meals and keeping a close eye on every penny. I never used to calculate my groceries down to the last pound, but these days, I go to the supermarket with a calculator in hand, making sure I don’t go over budget.
The Impossible Choices
Winter makes everything worse. Yes, there are ways to keep warm without cranking up the heating—wearing layers, using a hot water bottle, wrapping up in blankets. But at some point, you have to turn the heating on. With energy prices skyrocketing, many are faced with an impossible choice: stay warm or buy food.
The Struggle for Families and First-Time Home Buyers
If it’s hard for a single person to keep up, imagine those with children. Childcare costs are through the roof. When my daughter was young, I remember how much I struggled to pay for nursery and childminders. I can't even begin to imagine how parents are managing now, with everything being so much more expensive. Unlike in Zimbabwe, where you can leave your child with a neighbour or relative without worry, childcare in the UK requires planning, arrangements, and money—lots of it.
Then, there are those trying to buy their first home. Mortgage requirements are strict, and if you're an immigrant, you have extra hurdles to jump through. You need to prove your financial stability, have a solid credit score, and ensure all your paperwork is in order. Many first-time buyers are struggling to save a deposit and are relying on the "Bank of Mum and Dad"—an option not everyone has.
Is Leaving the UK an Option?
With all these financial pressures, many immigrants are wondering if it’s worth staying. Some think about returning home, but that isn’t an easy decision either. Moving back requires careful planning—you need financial stability, a place to live, and a way to earn a living. Healthcare is another major consideration. The people successfully moving back to Zimbabwe didn’t wake up one day and decide to go. They spent years planning their return.
Navigating the UK's Cost of Living Crisis
Right now, there aren’t many solutions, but there are a few things we can do to navigate this crisis:
Look for better-paying jobs: If there's an opportunity to earn more, take it.
Be resilient: We need to be smart about spending, tracking every penny, and cutting back where possible.
Save wherever possible: Even with rising costs, emergency savings are crucial.
Avoid unnecessary expenses: Now is not the time to keep up with social media trends or spend money to impress strangers.
Use money-saving strategies: Websites offering budgeting tips and price comparisons can help, and switching energy providers can sometimes save money.
This is not the UK I remember, and the financial pressures are real. But as always, resilience and smart financial decisions will help us navigate these challenges. The key is to stay informed, stay prepared, and, most importantly, stay hopeful.
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