LEEDS, UNITED KINGDOM -- (Marketwire) -- 10/08/12 -- The latest Asda Income Tracker report reveals that families are only GBP 1 better off per week than they were this time last year.(i) The average UK household only has GBP 151 a week of disposable income to spend.

High levels of unemployment combined with rising inflation levels and wage freezes have put pressure on household spending. Household bills have taken a turn for the worst as gas prices have risen by over 15% year on year in June, while electricity prices have increased by 8% over the same period.(ii)

Asda Money offer top tips on how to manage your household budget.

Create a budget

Creating an affordable budget allows you to set yourself a goal and a challenge. A budget will give you focus and help keep your personal finances at the forefront of your mind when you're out spending. It could be worth reviewing your spending habits to see what you can cut out to save money now. For example, instead of buying lunch everyday you could prepare food at home.

Sensible shopping

Sticking to a budget can be tough and it can be easy to fall off the wagon, however, you could save money by shopping sensibly. Opting for store-branded goods when food shopping or taking advantage of in-store offers could be a great way to save money and stick to your household budget. Create a shopping list so that you buy exactly what you need and avoid impulse purchases.

Reduce your energy consumption

Watching the pennies whilst you're shopping can help you stick to your household budget, however, there are a number of other ways to reduce your monthly outgoings. For example, switching your gas and electricity provider could save you up to GBP 346 a year.(iii) Energy providers are highly competitive and are consistently offering new deals to beat rivals. Households could take advantage of this with Asda Money.

Notes to editors

(i)Source: Asda Income Tracker for July 2012, released August 2012 http://your.asda.com/system/dragonfly/production/2012/08/21/09_05_56_340_Asda_income_tracker_Aug_2012_final.pdf

(ii) Source: Asda Income Tracker for July 2012, released August 2012 .Gas prices increased by 15.4%, electricity prices increased by 8.0% http://your.asda.com/system/dragonfly/production/2012/08/21/09_05_56_340_Asda_income_tracker_Aug_2012_final.pdf

(iii) Source: Asda Money At least 10% of customers who used energyhelpline (providers of Asda Energy Compare & Save service) to switch their gas and electricity between 01/01/2011 - 01/03/2012 saved GBP 346 a year or more. http://money.asda.com/energy-comparison/

About Asda Energy Compare & Save

--  Customers can save up to GBP 346(i) per year 
--  All UK suppliers are compared 
--  94% of customers can save(ii) 
--  Switching could take as little as 7 minutes(1) 

(i)       At least 10% of customers who used energyhelpline (providers of   
          Asda Energy Compare & Save service) to switch their gas and       
          electricity between 01/01/2011 - 01/03/2012 saved GBP 346 a year  
          or more.                                                          
                                                                            
(ii)      Based on over 100,000 people comparing their energy with          
          energyhelpline between 29/03/2012 - 11/05/2012.                   
                                                                            
(1)       At least 10% of customers who used energyhelpline (providers of
          Asda Energy Compare & Save service) to switch their gas and       
          electricity between 01/08/2011 - 23/02/2012 took 7 minutes or less
          to complete the switch application.                               

Asda Energy Compare & Save is provided by energyhelpline. energyhelpline is a free and impartial independent price comparison service. Fully accredited by Consumer Focus, energyhelpline.com compare all suppliers in the UK to help you find the cheapest energy deal.