Sky high supermarket bills, eye-water fuel pump prices, heating oil through the roof, council tax rises… when it comes to hitting our pockets, 2026 has been the year that keeps on giving.
While we’re all living through another cost-of-living crisis, everyone’s experience, worries and hopes are different.
Money Advice Scotland Chief Executive Janine Rennie says: “Our network of money advisers across Scotland report that their clients are consistently presenting with deficit budgets – where income is simply not enough to cover outgoings.
“Council tax remains one of the most prevalent forms of debt as well as other essential living costs such as rent, utilities, and food.
“We often hear of people resorting to using buy now pay later products to be able to purchase groceries and other essentials.
“For anyone who is struggling with their finances, there is a fantastic network of free money advisers in Scotland who will assess someone’s situation confidentially and without judgement and advise them on the best way forward.
THE YOUNG FAMILY: “We’ll just have to get by, but it’s already hard.”
Mhairi Rodgers, 36, and husband Nicky, 38, are parents to Murrin, aged eight and Miller, four. The family live in a four bedroom home in Falkirk, and run Tryst Training, a consultancy and training provider delivering accredited plant, health and safety, and first aid courses
“I used to grab groceries from one supermarket, but now I shop around sometimes at three different shops so I can save a little here and there.
“I’ll easily spend £100, but two days later I’m back because we’re running low.
“It feels like everything is more expensive. Nicky has a little two-seater van for the business – it cost £100 for diesel to fill it up the other day.
“The family car costs around £70 for fuel, and we really need it because Murrin was born early and has cerebral palsy and can struggle to walk long distances.
“She has a splint on her foot. When she needs new shoes I have to buy two pairs in different sizes. It’s just one of the extra expenses we have.
“I was so grateful in Sports Direct the other day when the young man serving gave us his staff discount to help.
“We had a lovely holiday recently which we booked before things got so expensive. But running your own business means you’re not earning while you’re away which is another cost.
“I’ve been looking at things like our television subscriptions. Sky wrote saying they were including something new in our package, but the price was going up too. Our basic Sky and internet costs around £100, then there’s my mobile phone and I pay for a sim for Murrin as well… it all adds up.
“Price rises on things like food, fuel and council tax probably means we’re spending around £200 more every month. Luckily we’re on a fixed rate mortgage so don’t have to worry about that for a few years.
“For the past few months Nicky has been taking around £500 less a month out of the business to cover the costs there, so there’s less coming into the house.
“If things keep going crazy, I suppose we will have to cut what we take from the business because we have to make sure it can still grow.
“We’ll just have to get by, but it’s already hard.”
GENERATION X COUPLE: “I don't think I'll be able to retire”
IAN McFadyen, 60 runs House of Gaia, a mind, body and soul specialist shop in Peebles with wife, Paula, 62. The couple run a second shop in Glastonbury.
“We are at that stage in life where you look at how much sand is in the hourglass and see one end has much less than the other.
“You look at mortality, how many Christmases are left when you’ll be healthy and you can get on with stuff.
“But retire? I don’t think I’ll ever be able to retire.
“I’m quite impetuous. Last year we decided to open a shop in Glastonbury where we had our honeymoon 24 years ago. I think you have to take risks in business, because if you play safe you’ll be closing doors really fast.
“The shops are about ‘mind, body and soul’ and during hard times like these people do look for ways to relax and stay calm.
“But Brexit has been a disaster. Before, we didn’t have to worry about import duty and VAT, products could move from border to border without any financial constraints.
“Now it’s nearly impossible to do business with Europe.
“I have to take on a French agent to export for me, and a UK agent to import. It adds to the costs.
“Then I’m competing against China, with Temu and Shein.
“Recently I’m finding more people coming in and haggling even over things that aren’t that expensive like a £15 Buddha.
“They will ask ‘what’s your best price?’
“You don’t go to Tesco that makes millions of pounds of profit and ask for the best price for a loaf of bread or money off a TV, but they’ll ask me for a discount.
“Our cottage is nine miles out of town. We use heating oil, and the costs have doubled – it used to be £1,000 to fill the tank, now it’s £2,200.
“I drive a 4x4 vehicle so I can tow a caravan for when we go to Glastonbury so my fuel bills are considerable. It’s now £140 to fill up with diesel.
“Easter is usually busy in the shop, but last week I made just £82 on Good Friday yet my staff costs for the day were £115.
“I have probably £100,000 tied up in stock but my business bank account the other was sitting at £231.
“It probably costs around £60,000 a year to run the business, even playing music costs £85 per month.
“At home, the heating oil and commute to work is probably 40% more expensive, and general day to day living seems to be at least 15% to 20% more, while business takings are down at 15%.
“Just as well I’m in a job I love because I think I will have to continue working for ever."
THE STUDENT: “I am worried about the future”.
Jacob Kennedy, 21, lives in Parkhead with his mum, Fiona. He is a third year Television BA (Hons) student at City of Glasgow College. He’s also a Food Ambassador with the Food Foundation, helping campaign for food security and access to healthy, affordable food across the UK
“I started off doing an NQ course, so my course is taking five years and I’m relying on student loans.
“I reckon by the time I am looking for work, I’ll have up to £20,000 in loans that will need paid back.
“It makes me worry about the future.
“I want a good job, but then how much money will come off my salary to cover student loans?
“We usually get groceries from Lidl or one of the discount supermarkets but it’s gone from around £50 a week to £80. If it keeps rising, we may have to cut back on the amount of food we buy.
“At the moment I have around £40 a week in my pocket to spend on all the things I might need. It’s not much.
“I try to save £10 a month, so by the end of a year I have £120 to treat myself to something like a game or a concert. I’d like to go the cinema but it’s a bit of a luxury.
“I don’t really go on holidays. I passed my driving test in December, a car, the petrol and insurance are too expensive.
“It feels like my age group has had a lot to deal with, what with the pandemic, climate crisis, and this cost of living crisis.
“Our world has changed a lot.”
THE WORKING MUM: “This year has been one of the toughest”
Ayshea Moore, 48, of Leven is mum to Mya, 16, Roma, and seven year old son, Michael, and runs the Beach Coffee with her husband, Michael, 45.
“We have a family-owned business, this is our 60th year and it’s been one of the toughest.
“We’d like to celebrate because 60 years is a real achievement, but we can’t do things like put on special offers because we can’t reduce our prices any lower.
“We really started to notice it last summer when our bills went right up. It’s got worse in the last few months.
“Winter was hard with roadworks that affected business. We’re lucky we don’t have rent to pay, but other costs have gone up.
“You can’t wash a dish without it costing money. Wages are difficult, we have to pay £10 an hour to a 16-year-old.
“My daughters help but they know when it’s quiet then they might not be paid.
“We’ve all had to take a cut in wages, around 20%over the winter when bills at home have been going up.
“I shop at Aldi and Lidl but you don’t get as much for your £100 shopping as you used to. Now it’s more like you have to pay double for same amount.
“It’s forced a lot of people rethink things.
“We had other businesses but now let them out to other people. We didn’t want them to close because the area needs shops and businesses.
“Michael’s parents still work in the café. I think they’d like to retire but if they’re working, it helps keep the wage bill down.
“We’re hoping for a good summer. There’s the new train line, it’s just 50 minutes from Edinburgh and kids travel for £1.
“Maybe people will look at their money this summer and decide to spend it closer to home at places like this.”
The Independent Financial Advisor: “People are getting stung… the financial world has changed.”
Alistair McNeil is an independent financial advisor at Wren Sterling in Glasgow.
“The run up to the end of the financial year used to be our really busy time, then everything would drift.
“But the past few weeks have been constant. People are scared to make decisions about money and they’re looking for help.
“Everything is complicated and so much is changing.
“People are worried about state pension and taking money from their pension pot. They’re not sure what guaranteed income might they have, and whether they’ll be penalised.
“People might not have really saved towards retirement until they are older, because they’ve struggled to bring up families and had enough to think about.
“It’s when children leave home or inherit money before they start to think about pensions.
“Often there’s a trail of pensions, they’ve lost track and not invested properly.
“I just spoke to someone who had not moved their pension for years but if they had, it could have been worth £8000 more.
“People are getting stung, while the financial world has changed.
“There are more changes coming. Currently pensions are outside of inheritance tax so for people with a large estate, properties or other assets, one way to reduce income tax exposure was to put money in a pension.
“But from April next year, pensions will become part of the estate and could be subject to 40% in heritance tax.
“And, the minimum age you can access a private pension is currently 55 but that’s going up to 57 in 2028.
“That coincides with the state pension age rising from 65 to 67 and then to 68.
“There’s a danger in years to come some people who access their pension early may run out of money.”
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