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Energy bills put a strain on finances for millions of Brits

One in two Brits have stated that energy bills will squeeze their household finances this year and more than four out of ten Brits are concerned that they won’t be able to afford their next fuel bill.

Starting today and lasting until the 21st of January, ‘The Big Energy Week’ aims to help people save money on their fuel bills. Therefore, it will see advisers across the country explaining to British families how to spend less on heating and powering their home.

“We know hikes in prices have put extra pressure on people’s budgets at a time when money is already tight. Day in, day out our Bureau is helping people who can’t afford their fuel bills,” said Gillian Guy, Chief Executive at Citizens Advice Bureau (CAB).

In fact, figures from last November reveal that eight times as many people came to the Citizens Advice Bureau for online advice on cutting their fuel bills in comparison with November 2010. Over 96,000 were helped with their fuel debt problems in 2011.

On top of this, figures from ‘The Big Energy Week’ survey also show that 53% of people are having the heating on much less than previous years in order to save money. Up to 71% of Brits who said their energy bills would significantly stretch their finances this year also added that they were concerned about not being able to pay their next fuel bill.

“We’re worried that some people are struggling unnecessarily because they’re not on the best deal, live in homes that haemorrhage heat or are not getting all of the financial help available to them,” added Guy.

Some measures could help to save both energy and money, such as insulating your home. However, one in three people don’t know that energy companies are offering help to insulate their home, a percentage that increases up to 46% in London.

Responsible lenders offer unsecured personal loans which are available to give you access to the funds you may require. Of course, no such loan should be taken lightly, and as with any form of borrowing it is important that you are able to meet repayments.

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Andrew Wayland
Marketing Director at Everyday Loans
Andrew Wayland is a financial marketing expert and helped set up Everyday Loans back in 2006. Prior to his position as Head of Marketing for Everyday Loans he worked as the Head of Commercial Development for a tech start up and ran his own PR agency for around 5 years. LinkedIn: https://www.linkedin.com/in/andrew-wayland-9018074