Many people may be tempted to perform an energy comparison and switch gas supplier in order to seek out cheaper deals.
This is because new research by Santander has revealed UK households are spending an average of 40 per cent of their income on everyday expenses such as heating their home and keeping the lights on.
It found 85 per cent of respondents said they have seen their electricity expenses increase recently, while 78 reported increased costs for their gas supplies.
Lead UK analyst of the Economist Intelligence Unit Neil Prothero said: "The bad news for consumers is that the cost of basic necessities such as food and energy are going to continue to rise as they're influenced by global price pressures."
However, he noted Brits tend to be very thrifty, which may lead to many individuals seeking out the best deals in order to improve their household finances.
Recently, a report by Lloyds TSB found one in five people have no disposable income left after they have met all their necessary financial commitments for the month.
If you want to find out more about switching energy suppliers and how you could save up to £389 in minutes, click here.
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