The challenge of high living costs continues to weigh heavily on many households in the UK. From increased rent and mortgage payments to rising utility and food costs, families are feeling the strain on their finances. For some, struggling to make ends meet has become a daily reality with little relief in sight.
But amidst these economic pressures, some companies are stepping up to provide solutions. These companies recognize the challenges faced by individuals and families and offer innovative tools and services to help ease the burden. Whether it’s a budgeting app, a financial management platform, or a support network, these initiatives aim to help people better manage their money and more effectively overcome the challenges of high living costs. is.
These businesses play a vital role in supporting individuals and communities across the UK by recognizing the reality of the cost of living crisis and taking proactive steps to address it. As they continue to innovate and expand their products, they look forward to a more economically secure future for everyone.
A startup that eases the struggle of living expenses
Melia
Mealia is a startup launched in 2022 that addresses the intersection of the cost of living crisis and the rise of artificial intelligence. The company’s chatbot, powered by generative AI, helps low-income households manage their grocery shopping costs. Users use her Mealia to share their dietary needs, budgets, and food preferences. The chatbot then generates personalized meal plans and recipes, taking into account available ingredients and budget constraints. By examining supermarket prices and promoting sustainable options, Mealia helps you eat nutritious meals that are budget-friendly while minimizing food waste. Melia, which is free to consumers, plans to expand through partnerships with supermarkets, aiming to ease the financial burden of purchasing groceries for households in need. Supported by the Mayor of London’s Anti-Poverty Challenge, Melia is demonstrating the potential of technology to tackle social challenges such as food insecurity and the rising cost of living.
Nous
London-based startup Nous aims to ease the financial burden caused by the UK’s cost of living crisis. Nous, which recently raised a $9 million seed round, offers free personalized reports to help households understand how rising prices will affect their spending and provide advice on adapting to inflation. There is. Beyond this first step, Nous plans to offer a subscription service that leverages household data to automate key service switching and cost negotiation. Nous aims to save households over £1,000 a year by analyzing their own household data and third-party vendor information. With a team of cross-industry expertise, Nous prioritizes the interests of consumers and aims to provide a fair market for essential services through transparency and automation. We are currently focused on the UK, but future expansion may be possible pending regulatory frameworks in other markets.
mortar factory
Mortar Works provides innovative solutions to support renters facing financial challenges, particularly in managing rent-related debt. Mortar aims to redefine the relationship between individuals, assets and communities through a technology-driven approach. The company’s flagship product, Hoop’d, provides users with dynamic tools such as a digital inclusion triage tool and a community navigation platform. These solutions enable more efficient service delivery, personalized support, and better access to critical resources, ultimately helping renters overcome financial hardship and avoid costly debt. It will look like this. Mortar’s collaboration with local authorities and housing associations further extends its impact, contributing to a more inclusive and sustainable rental environment, while easing the cost of living for vulnerable renters.
super fi
SuperFi is a London-based financial technology company founded in 2021 that provides comprehensive budgeting and financial planning software tools. Their platform acts as a centralized hub for managing all aspects of financial management, including bill consolidation, debt consolidation, and personalized debt support. By providing expert advice and tools for debt prevention, SuperFi helps users stay on top of their bills to maximize income, reduce spending, and avoid problematic debt. That’s what I’m aiming for. Through partnerships with organizations like StepChange, users can track and manage their bills, receive reminders, check government benefits, and access debt advice. With features like automatic bill tracking and payment allocation, SuperFi helps users take control of their finances and overcome the challenges of the cost of living crisis.
W1TTY
W1TTY is a financial technology company with a mission to give everyone the tools and knowledge to manage their finances. With over 150,000 users across Europe, W1TTY offers a suite of personalized financial tools, including spending tracking, gamified learning, and customized debit cards. W1TTY helps users streamline their financial activities and make informed decisions by providing easy access to financial management features such as bill splitting, quick transfers, and secure login . With features such as a powerful contactless debit card and worldwide ATM access, His W1TTY allows users to conveniently manage their money while keeping their finances in check even in the face of rising costs of living. It can promote health and resilience.
