Social media is the home of skits, dance routines and futile political arguments, and it’s where many of our attention spans went to die during lockdown. But as the cost of living crisis has tightened the screws on household budgets, it has become a hub for ordinary people to share helpful tips for when you’re in a squeeze and need advice in real time.
If you’re facing serious financial difficulty, your first port of call should be support organisations like those outlined our Talks Money magazine who can tailor advice to your circumstances. But while saving a few pounds on your weekly shop might not be enough to get you out of problem debt, it can make a difference when you’re living hand-to-mouth.
Forget doomscrolling and glamorous Instagram influencers – these community-focused resources, from helpful social media accounts to cost of living radio, are full to the brim with helpful tips to take the edge off financial pressure.
The cost of living crisis took Martin Lewis from consumer expert to the most trusted voice in the fight to stay on top of daily spending. He founded MoneySavingExpert, now an online one-stop-shop for the latest news and tactical advice. But its forum is the website’s real gem – here you’ll find thousands of ordinary people seeking and receiving advice on everything from managing benefits to cheap holidays to the best-value bank accounts.
On TikTok, the search “cost of living” has been viewed around 2.6 billion times at time of writing. The ease of the app means anyone can pick up their phone and share the latest tip they’ve discovered – and thousands are doing just that. Accounts such as @mealsbymitch – who creates meals for £5 or less, without assuming that everyone will have certain things in cupboards or can afford to bulk-buy – to @duchessofthrift, who pivoted from sustainable fashion hacks to “cost of living hustles”, are sharing advice which might not boost your credit rating but might help you through another day.
This Is Money
Both online and folded into the pages of the Daily Mail, This Is Money has been providing trusted financial information and advice for nearly 25 years. You’d be hard pushed to have a cash question unanswered by a visit to thisismoney.co.uk, and now the This Is Money podcast is packaging expert insights with easy-to-understand explainers for listeners.