As you may have heard, inflation has been on the rise in the UK. In fact, the rate of inflation sat at 11.1% as of 19 November 2022.
Inflation occurs as a result of rises in the price of everyday goods and services, and many predict that, as millions look to make efficiencies, that this could have a detrimental effect on public health.
Indeed, polls from The Health Foundation found that 57% of Brits think that the cost of living crisis is a high or very high threat to the health of UK citizens, while 72% believe that people’s general health and wellbeing has been in decline over the last year.
While it’s important to look after your finances, it’s just as vital to maintain your health during these times. So, read on to discover five ways you can maintain your health standards amid the cost of living crisis.
1. Stay fit for less
Gym memberships are one cost that is likely going to be affected by inflation. In fact, Money Helper found that, while the cost varies from gym to gym, the average cost of a membership was around £40 in 2021.
If you need to cancel your gym membership to try and save some money, then never fear, as there are many ways you can maintain your fitness for less.
The NHS offers free fitness instruction videos on its “NHS Fitness Studio” service, which regularly covers topics ranging from dancing and Pilates, to yoga and wake-up workouts.
Nike also offers a similar service, providing more than 200 videos on a wide range of different workouts.
If you simply can’t give up your gym membership, you should ideally start scanning the internet for a new and cheaper deal.
For example, PureGym offers a much cheaper off-peak membership for £9.99 a month plus the joining fee. Or, you could try other budget gym brands, such as Anytime Fitness or The Gym Group.
2. Consider whether health supplements are really necessary
You may consider health supplements and vitamins to be an absolute essential, but there may be some you can cut from your regular shop without damaging your health.
You may find that some vitamins and supplements aren’t completely necessary for you at the time, and if you’re looking for ways to save money, it may be worth only considering those that you need.
Vitamin D, for example, is essential during the winter months when there is less sunshine. Other vitamins, such as vitamin C, could instead be gained through a healthy diet.
In fact, Which? reports that you can’t replace a healthy diet with supplements, so it may be wise to review the vitamins you’re purchasing and try replacing them with healthy food alternatives.
You may also find this to be much cheaper than buying supplements or vitamins constantly, which could end up saving you money in the long run.
3. Don’t shy away from own-brand products
When you’re doing your shopping, buying own-brand products can save you a decent sum of money while often giving the same nutritional value as more expensive products.
In fact, own-brand products tend to be cheaper across the board – Lidl’s own peeled plum tomatoes, for example, typically costs 37p, while the same product from Cirio would cost around £1.
The nutritional value of products like this is unlikely to differ markedly, so choosing cheaper options could generate savings without compromising on health.
When you’re shopping for own brands, you shouldn’t just limit yourself to food, as many other goods are available at a fraction of the cost for essentially the same product.
Branded, full-price hay fever tablets, for example, can cost around 10 times more than generic own-brand versions. Also, own-brand paracetamol and ibuprofen typically cost around 40p, while the branded versions can set you back several pounds.
As you can see, own-brand medicines can be much cheaper, while the active ingredients are often exactly the same as branded products.
4. Cut down on takeaways
Another great way to maintain your health during the cost of living crisis is by cutting down on takeaways whenever possible.
While a £30 meal delivered directly to your door may not seem like much money, it can quickly add up in the long run. In fact, Statista found that Brits spent an average of £641 on takeaways in 2021.
By cooking your own meals, you could save a lot of money while also doing wonders for your health. Takeaways are typically high in salt and fat, so by cooking your own food, you can control the ingredients that go into your meals.
If you can’t resist a quick and easy meal on a Friday evening after a long week of work, then you could try batch cooking with inexpensive and healthier ingredients. Then, when it comes to dinner time, you can simply heat up a portion of your delicious batch meal.
5. Use this as an excuse to stop smoking or reduce your alcohol intake
This may seem slightly more obvious, but the cost of living crisis could be the perfect opportunity for you to stop smoking or cut your alcohol intake.
Everyone Health found that the average smoker smokes around 20 a day, and with a packet of cigarettes costing around £13.30 these days, that’s £94.10 a week, or £4,841 a year, you could be saving.
And, the health benefits are myriad. You could reduce your chance of a stroke, a heart attack, many different types of cancer, increase your circulation, and even look younger overall.
As for alcohol, Drink Aware reports that the average Brit drinks around £7.43 worth of alcohol each week. This results in yearly costs of around £386.
This yearly expenditure for alcohol may not be as high as it is for smoking, but it can make a difference, nonetheless.
Also, when you cut down your alcohol intake, you could minimise your chance of high blood pressure, stroke, heart disease, digestive problems and more.
Get in touch
Even as prices across the country rise, you shouldn’t let your health standards slip. To find out more about ways you can cope during the cost of living crisis, please email enquire@london-money.co.uk or call (0207) 808 4120 to find out how we could help you.