Finding cheap dual fuel supplier could help people save

Between 1 January 2020 and 30 June 2020, people who switched energy supplier for both gas & electricity with Uswitch saved an average of £387.

With it becoming increasingly difficult to save money for retirement, people who find a cheap dual fuel supplier may be in a position to put away a little extra each month.

Robin Ellison, partner at Pinsent Masons, says one way to get around the problem is to start stashing away cash at an earlier stage.

Commenting on the issue, the expert explains: "The barriers for people who save are higher than they have ever been before. A great deal of this - although not all of it - is due to the regulatory framework."

While putting away a little extra from a young age may help, an alternative way to financial well-being in later years may be to sign up to a deal with a cheap dual fuel provider and put the savings into a pension fund.

Recent research by Aviva showed more than a quarter of people older than 55 tend to dip into savings in order to pay for unexpected expenses.

Posted by Jim Tidy

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