Older people worry about rising energy bills, rent and food costs

A report from Age UK London indicates that financial anxiety is impacting older residents in the capital, with 38% fearing energy debt. The study shows that one in four older Londoners live in homes that are consistently colder than they prefer. Additionally, 36% express concerns about their financial security as they approach 2025. Many respondents reported selling personal belongings, such as jewelry, to cover immediate expenses. The charity highlighted a concerning lack of awareness regarding energy-saving methods among older individuals.

Digital exclusion complicates their ability to compare prices effectively for essential goods. The tightening of Winter Fuel Payments eligibility has left many older individuals struggling without support. Consequently, financial insecurity is leading to increased isolation and sleep loss among this demographic.