The current global economy shows no significant improvements that affect the life of many people in the UK. According to a recent article by BBC news, experts predict that the UK will enter a recession anytime soon. A survey by BDO firm signifies that turnover rates from companies continue to decrease. Additionally, the Chartered Institute of Personnel and Development (CIPD) predicted that employers are likely to downsize their workforce. Reports show gloomy forecasts for UK economy, fearing a double-dip recession.
UK food inflation reaches 6.3 percent, the highest food inflation compared to other developed countries such as France, Germany, Netherlands,USA, Canada, and Japan. As a result, the average UK family expenditure will have to be spent on the more important expenses such as transportation, food, education, and medical expense. To grasp a better picture on how recession is affecting UK families, you can see that transportation costs alone account for more than 13 percent of spending, or about GBP 64 per week. To help you and your family save money for the more important expenditures, here are several tips that you can do to reduce expenses and decrease your chance of spending money on unexpected expenses such as car repair.
Before you hit the road, make sure that your car tyres are properly inflated. Tyres pressure affects up to 6 percent of your fuel consumption.
Remember to keep the car well-maintained and serviced regularly. A vehicle that is serviced regularly will have less chance of requiring major vehicle or machine repair that can be quite costly. A small leak is cheaper to fix than a severely cracked one.
Keep in mind to turn the air conditioning off when you do not need it. Wear warmer clothes to compensate the heating device during the cooler months. You can get more kilometre for less by turning your air conditioning system off.
There are other ways in which you can save money on transportation, such as closing the window to improve the car aerodynamics and fuel efficiency. You can gather as much information as you could on how you can reduce your household expenses, and survive the coming recession.