The rising cost of living is putting real pressure on the UK’s finances. Many of our customers are feeling uncertain about money, with some being forced to make tough decisions. High inflation driven by increasing energy bills and food prices, coupled with slow wage growth, is leaving  people feeling the pinch.

While everyone will be affected in different ways, our customers are taking an active role in managing their money using our latest banking tools, and we’re also proactively contacting customers to offer support. For customers who might need a little more help, we’re on hand to talk and work through solutions together.

Some of the ways that we’re supporting customers through the cost of living crisis are:

  • Finding tailored solutions to fit peoples personal circumstances, including debt consolidation, payment holidays and underpayments. 
  • Launching specialist cost of living hubs in our mobile banking apps.
  • Giving access to in-app tools such as subscription checkers and spending insights, so our customers have a clear view of where their money is going.

Meet our Customer Financial Assistance team

Video | 2 mins 26 secs

Find out more about our Customer Financial Assistance team, which supports customers who are facing financial difficulties.

Watch video


of consumers are extremely or very concerned about home energy prices, which has increased from 63% in January 2022


of consumers are extremely or very concerned about the rising prices of everyday items, which has increased from 50% this time last year




How are we helping customers navigate the rising cost of living?

20 Oct 2022 | Jasjyot Singh, OBE 

Financial wellbeing

From developing tools to give app users more control over their spending to overdraft support for those struggling with their finances, these are some of the ways we’re supporting customers through the rising cost of living.

Read Jas's article opens in same tab

Turn2Us partnership

We can’t be the experts in everything – so we work with the people who are. 

Working with Turn2Us

Video | 1 min 24 secs

Through our partnership with charity Turn2Us, customers are offered expert support to build their financial resilience. 

Watch video

Between December 2019 and October 2022


Lloyds Banking Group customers have been referred to Turn2us.

In total, Lloyds Banking Group customers will have received 


in additional income.


customers have completed a grants search.


customers have completed a benefits calculation.

How is the rising cost of living affecting retirement savings?

Do renters need to save more for retirement than homeowners?

4 July 2023 | Pete Glancy


30% of people are now expected to rent in retirement – but in some areas, rents will cost 130% of people's retirement income.

Read Pete's article
Woman in cafe

Closing the pension knowledge gap for adults

23 March 2023 | Robert Cochran


There's currently a serious shortfall in financial literacy among adults in the UK. But how do we close the pensions knowledge gap?

Read Robert's article

Is the gender pension gap hitting single mothers hardest?

7 December 2022 | Jackie Leiper


Scottish Widows’ latest Women and Retirement Report, released last month, revealed that women were being disproportionately impacted by the rising cost of living compared to men – as was the case during the pandemic, which the previous two years’ reports covered.

Read Jackie's article

Why it’s vital savers track their missing pension pots during the cost of living crisis

15 November 2022 |  Robert Cochran


Today nearly half (46%) of UK pension holders have lost track of some of their pension pots, according to new research from Scottish Widows.

Read Robert's article

How well prepared are different communities for retirement?

25 October 2022 | Pete Glancy


This year's Scottish Widows Retirement Report takes a closer look at how different minority ethnic communities are saving for their retirement - and how they've been impacted by the rising cost of living.

Read Pete's article

How is the rising cost of living affecting the housing market?

How we're supporting our customers with the increase in mortgage rates

Andrew Asaam | 29 June 2023

We look at what’s causing the mortgage rate increases – and how we’re supporting our mortgage customers with rising costs.

Read Andrew's article

Let’s end homelessness with homes

Lloyds Banking Group has joined forces with Crisis and Simon Community Northern Ireland, calling for one million more social homes to be built by 2033, with a focus on helping people who are most at risk of homelessness.

20 April 2023 | Charlie Nunn and Matt Downie

Read the article

Five actions we need from the Government to help make UK homes more energy efficient

The UK housing market accounts for 16% of the UK’s carbon output – we need five crucial actions from the Government to help make housing more sustainable.

Andrew Asaam | 28 March 2023

Read Andrew's article

Keeping our homes safe and warm

As the cost of living continues to rise, it's vital that social housing is well maintained to help support people and families across the UK.

David Cleary | 13 Dec 2022

Read David's article