How can we use technology help people combat the rising cost of living?

• 10-08-2022

How can technology help people combat the rising cost of living?

The rising cost of living is placing increasing pressure on household budgets, but there are several pieces of technology which could help people make some vital savings.

At Energise Technology, we aim to provide resources and guidance to help charities survive and thrive during the current climate. We've been helping charities since the pandemic and will continue to do so. 

With UK inflation operating more than 9% this summer, heightened by the economic effects of the war in Ukraine and skyrocketing energy prices, the charity sector is facing a "perfect storm", as described by ACEVO, just as it begins to emerge from the pandemic, with both businesses and charities themselves being hard-hit financially.

There is no question that the third sector is more flexible and agile than it has ever been, after having to embrace and combat the many challenges over the last two years. Charities, non-profits, businesses and education providers are better equipped to meet the demands of the current crises. But, this is now paired with a surge of people struggling to make bare ends meet, trying to afford everyday necessities while wrestling with the funding and the rising cost of living.

The Charity Excellence Framework

The Charity Excellence Framework has gathered 20 vital suggestions for ways to reduce expenses and operating costs. These hacks include analysing current outgoings, collaborating with other organisations with shared goals, investing in the right people and even sourcing pro-bono support. Charity Digital has also compiled a number of ways on how charities can protect themselves from rising inflation here. 

New Philanthropy Captial

Think tank and consultancy, NPC (New Philanthropy Capital), has put together suggestions for charities as they face the cost of living crisis. They shine a light on the benefits of reviewing expenditure, collaborating with others for service delivery and fundraising, and prioritising activities that have the biggest impact (importantly using data to support these decisions). This is worth a read if you're in the sector! 🙌

This presents several challenges to charities as they face rapidly increasing costs. Paying for rising wages, cuts in donations, and staff keeping up with escalating prices, are concerning.

Pro Bono Economics

In addition, demand for support is set to increase as the cost-of-living squeeze impacts on beneficiaries, many of whom were already struggling financially before it got to this point. To support charities meet such inflationary pressures, think tank Pro Bono Economics has released a raft of guidance and information which is worth exploring if this affects you.

Tech Talks Podcast

There are efficiency schemes, tools and funds that can be of vital help. Why not take a listen to the below #TechTalks podcast to gain some more insight? We understand that there is a lot of media and news talking about the cost of living crisis, but what does it really mean for you, your business and your employees?

Tech Talks: Can technology help tackle the cost of living crisis?

The podcast discusses what solutions are out there which might help people today. The TechTalks team meet Wagestream CEO Peter Briffett, 3 years on from his last TT appearance, to find out how their platform might help.

We hope you found this first batch of efficiency schemes helpful. We will be sharing more of these in the coming weeks! As always, if you need any 1:1 guidance, please do get in touch and we'd be happy to talk through energy-saving ideas regarding your digital roadmap.

📱 hello@energisetechnology.co.uk