People struggling to save right now share their financial fears

All areas of life are getting more and more expensive every day.

Household bills have shot up, grocery shops are noticeably more, fuel recently hit an all-time high – wherever we look it feels like price hikes are inescapable. 

With daily life costing significantly more than before, people are struggling to put any money away into a savings pot.

And this lack of a ‘rainy day fund’ can be incredibly worrying for many.

Jenny Holden is one individual who is struggling to save right now. She explains that she’s always been a keen saver – but the rising cost of living means she’s unable to do this anymore.

‘I used to put money in different accounts for different uses (energy, holidays, activities, rainy days etc – but now it’s all pooled into one),’ she tells

‘It’s a horrible feeling knowing that, at this particular time in our lives, it’s all about survival and adapting to things outside of our control.’

Jenny says she’s analysing where she can save money, across all areas of her life, as a result.

‘Having noticed my fuel expenditure increase so much, we have decided to catch train and walk much more. That means we set off for school 20 minutes earlier. The kids complain but they understand why we’re making small changes. Also, walking to town rather than driving (or using the bike).

‘I’m not feeding the dog as much either – no bought-in treats anymore just homemade ones from leftover vegetables which are safe for him to eat 

‘We’re cutting down on what we eat, too – after seeing shopping bills soar. We’ve decided to swap a couple of meals for the basics for a few days a week. Jacket potatoes one night, and beans on toast the other. Cheap but healthy.

‘Also, all lights being switched off when not in use – everywhere. And I’m constantly going round the house to do this. Showers are only five minutes if we can, with timers at the ready, and the kids like this because we’ve pitched it as a fun challenge.

‘One thing, however, I’m not compromising on is a commitment to ourselves to chip away at the mortgage each month – we do this with a flexible overpayment app called’

Overall, Jenny says she’s trying not to let her worries consume her, as she knows it will be detrimental to her mental health.

She adds: ‘I can only hope for brighter and cheaper times ahead – and I also remind myself how lucky I am when there is so much bad happening in the world.’

But for others, a lack of savings pot is making them incredibly anxious.

Emily, from London, fears she won’t be able to move out from her family home with costs sky-rocketing.

She says: ‘I’m 22 and I still live with my parents and I genuinely feel like I’ll never be able to afford to move out, especially with everything in the country going up – apart from my wage.

‘It feels like every month (once bills are paid off) I’m stuck in a predicament of whether to save the money left over or actually do something with my weekend and enjoy my time off – but it feels impossible to juggle both. 

‘Before the pandemic I used to be able to put money away, have a fun social life and go out, and still be left with money at the end of the month.

‘It just feels like this isn’t possible in this current time – especially if you don’t have a partner to save with. It makes it impossible to visualise actually moving out.

‘I feel like there’s such big pressure too because, if I’m not putting money away now, how am I ever expected to move out and be independent?’

Chloe, who works in PR, says she feels overwhelmed at the idea of saving money, as she’s struggling to get by anyway – with unexpected costs often catching her out.

She explains: ‘I am a full-time employee and earn a decent salary (early-ish in my career). I split my rent with my partner and my housing bills are pretty decent. However, the last few months I have found it pretty much impossible to save.

‘Any last-minute commute, unexpected bills, or even a spontaneous night out, makes me feel like I am drowning. 

‘I need to think twice before going out or for any leisure, even if I am not going anywhere fancy, because it could affect the rest of my month – let alone the idea of saving.’

And, like Emily, Chloe is also worried about saving to buy a house.

She adds: ‘I’ve moved house a few months ago and still financially recovering from buying furniture.

‘I can’t save up for a deposit or even put money aside for upcoming holiday or just having saving pot for emergencies.

‘I am concerned about the raise of living cost in the next months – how is it going to be even manageable?’

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