The ten biggest worries you'll have this year

We take a look at the biggest worries you'll have this year and how to combat them.

I have to admit, I’m a bit of a worrier. Ask anyone who knows me and they’ll tell you that I’m a big worry wart. Even if I don’t seem to have anything to worry about, I worry I should be worrying about something.

I know it sounds ridiculous, but I can’t help it.

However, even if we don’t admit it, most of us worry to an extent and with the economy continuing to look unstable, those worries are likely to prevail throughout 2011 – here are ten of the biggest ones:

1. Rising food prices

Food is expensive enough, without the prospect of prices moving up even further. Unfortunately, however, experts are warning that the cost of food will rise by 50% over the next few decades on the back of an increasing population, rising fuel prices and increased competition for water.

That’s a pretty scary prospect.

So if you want to keep your costs down, make sure you follow the tips in 10 ways to slash your supermarket spend.

2. Rising energy prices

Similarly, rising energy prices are also likely to be a major concern for 2011 – particularly following yet another bitter winter (which isn’t over yet).

With most of us having recently received a letter in the post stating that our energy bills are set to increase, the outlook is pretty gloomy. After all, with money tight for many of us, just where are we supposed to find this extra cash?

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However, there are steps you can take to fight back against rising energy bills. Firstly, make sure you take a look at the lovemoney.com gas and electricity comparison centre to see if there’s a cheaper deal out there. Then, if there is, get switching.

Secondly, follow these top tips to help reduce your energy bills. And finally, don’t forget that having proper insulation in your home will also help you to save money on your bills and you may even be entitled to some form of grant to help pay for this.

3. Poor returns on savings

Most of us are pretty fed up with the rate of interest we’re earning on our savings accounts. And it’s hardly surprising, given the majority of savings accounts are paying next to nothing.

Rising inflation isn't helping either. A basic taxpayer now needs to find an account that pays an interest rate of 4.63% or more to beat inflation, while a higher rate taxpayer needs a rate of at least 6.17%. To find out how to do this, take a look at Earn the highest rate on your savings.

And don’t forget to head over to the lovemoney.com savings comparison centre to hunt out the best savings accounts on the market.

4. Failing to get out of debt

Getting into debt is easy – getting out of it is not. So if you are in a lot of debt, no doubt one of your worries for 2011 will be never getting out of it.

To give you a helping hand, have a read of The best ways to get out of debt. And don’t forget there are plenty of places to turn to for free debt advice such as the Consumer Credit Counselling Service and National Debtline. Read about them in Where to get free debt services.

5. Not earning enough money

With pay freezes and pay cuts a common theme for many of us, plus the rising cost of everyday living, not earning enough money to pay the bills is going to be yet another worry for 2011.

So if you are looking for ways to boost your income, make sure you take a look at 12 ways to make quick, easy cash and Stretch your salary by £500 this month.

6. Not retiring in comfort

For many of us, retirement seems a long way off, and yet it’s still a big concern. In fact, a recent lovemoney.com survey revealed that 44% of respondents are scared they won’t have enough money to enjoy their retirement.

Of course, the earlier you start planning for your retirement, the better off you’ll be. But if you’re a late starter, make sure you read Five top tips for pension late starters.

7. Falling house prices

House prices are always a concern and this year is likely to be no different. With some industry experts predicting further falls in house prices this year, some homeowners are likely to be worried about negative equity – particularly if you want to sell your home or remortgage.

If you are concerned, find out why you shouldn't be panicked by negative equity.

John Fitzsimons looks at some simple ways to boost the value of your home.

8. Rising mortgage rates

If you’re a saver, the prospect of higher interest rates will be greeted with big smiles all round. But if you’re currently on a nice cheap tracker mortgage, the idea of rates increasing this year could be a concern. After all, once lenders believe interest rates will start to rise, they will start to increase their fixed rates.

Indeed, some lenders have already started to boost rates. So if you want to ensure you’re not going to be hit hard, now might be the time to get locked in to a new deal!

Why not head over to our mortgage centre where you can speak to our mortgage brokers over the phone, via email or even instant messenger?

9. Losing your job

Recent figures have revealed that UK unemployment levels have continued to rise and the UK unemployment rate now stands at 7.9%. Understandably, many of us are likely to continue to worry about redundancy this year.

So make sure you have a read of The ten best ways to recession-proof your job, Seven things you should do if you’re made redundant and How to survive unemployment.

10. Not saving for your children

Finding enough money to pay the bills can be difficult enough, but putting any spare cash aside for your children can be even harder, particularly following the Government’s decision to scrap Child Trust Funds - and the need to save long-term for those massive university tuition fees.

For some tips on how to save for your children, read Government unveils new tax-free ISA for kids and Earn 6% on children’s savings. And don’t forget to check out our how to guide: Save for your child’s future.

So whatever your worries are this year, hopefully these tips will help to combat them!

More: Get a super savings account | Earn up to 9% on your savings | Why you’ve already spent £1,365 this year