Saving money is more important than ever as the cost of living is rising to alarming rates due to inflation. According to the BBC, prices are increasing by 9.1% yearly, the highest rate in 40 years. Soaring energy prices have contributed to the cost of living increases as the energy price cap was raised in April this year by 53.5% and 95.5% compared to the previous year. Food, fuel, raw materials, household items, furniture and restaurant prices have also increased.