MoneySavingExpert.com homepage
Cutting your costs, fighting your corner
Chair, Martin Lewis · Editor, Marcus Herbert
Search bar closed.
MSE News

Poll suggests people are cutting back on adding money to their pensions and investments as the cost of living crisis takes its toll

energypiggy.jpg
Sophie King
Sophie King
News Reporter
8 April 2022

A quarter of people have stopped paying into long-term investments, such as stocks and shares ISAs or pensions, as a result of the recent spike in the cost of living, a poll has found. Here are all the details.

The poll was hosted by investment platform Interactive Investor on its website, and while it's not nationally representative, 24% of the 1,473 people surveyed said they had stopped putting money into their stocks and shares ISA, pension or their children's junior ISA because of the cost of living crisis.

Of the 24% to cut back, the bulk indicated the biggest reductions would be made to their stocks and shares ISAs.

Talk to your providers if you're worried about paying bills

Much of the rise in the cost of household bills has been driven by the 54% hike in energy costs that hit on 1 April. If you're struggling, there's help available:

  • If you're worried about paying energy bills then talk to your provider as they may be able to help. They might offer you support to rejig your payments, set up a repayment plan or offer you a discount. 

  • Most energy suppliers also offer access to hardship funds if you're in debt and struggling to repay. They offer schemes and grants to help with your energy costs, to replace faulty or old boilers, and to make your home more energy-efficient.  

  • Find out if you're entitled to the Government's £150 council tax rebate designed to help pay energy bills.

For more help if you're struggling to pay your energy bills, see our energy bill help, plus our 90-point Cost of living survival kit

MSE Email 10 September 2024

For all the latest deals, guides and loopholes simply sign up today - it’s spam free!

Cheap medical insurance
How to get it
It's back! FREE £175
Plus 7% savings + more
Mis-sold car finance warning
IGNORE ads
1st class stamps UP
Beat the hikes
Cheapest Samsung S24
Plus FREE laptop
'Financial ed for EVERY child'
Martin urges MPs
£221 Boots beauty for £65
Or pay £99 and get £325
Tools and calculators

Clever ways to calculate your finances

Find your odds of getting top cards
Find your odds for getting a cheap loan
Compare broadband, phone & TV deals
Compares thousands of mortgages
Eight calcs to help you work out the cost
We ensure you’re on the cheapest tariff