There is little you can do about the rising cost of living – but there may be ways to increase the money coming into your household.
Current soaring inflation is making it tougher to manage cash flow as wages fail to keep pace. The average increase in employees’ wages stood at 6.6% in the year to June, according to the Office for National Statistics (ONS). And with the annual rate of inflation at 9.4%, this effectively amounts to a pay cut for the majority of workers in real terms.
But while you might not be able to cut back on what’s going out, there are ways you may be able to increase what’s coming in. We’ve rounded up some ideas.
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Get a pay rise: Workers are failing to ask for a pay rise, despite pressure from rising prices. Only four in 10 Britons who have ever been in paid work have asked for a pay rise, with 26% receiving an increase and 13%…