Updated •3 min read

The cost of a heatwave

Written by: Credit Karma Staff
woman using a laptop, leaning towards a fan to cool down.Image: woman using a laptop, leaning towards a fan to cool down.

In a Nutshell

In true British fashion, mid July brought a few days of sunshine before the weather reverted to its usual wet and windy state, leaving many feeling as though summer had come and gone. However, with the August summer holidays just beginning, the rising cost of heatwave essentials is a concern for almost a third of customers.

Despite most of us being excited to see the sun after the recent bad weather, many can’t afford to stay cool. In fact, research carried out by Credit Karma1 found that half of UK adults say that the rising cost of living makes keeping cool more expensive.

Let’s take a look at the top 10 most popular heatwave items for summer 2024, based on our study:

  • Suncream
  • Swimming costumes
  • Mosquito repellent
  • Free standing fans
  • Handheld fans
  • Garden furniture
  • Desk fans
  • Cooler boxes
  • Bluetooth speakers
  • Barbecues

Most of these are fairly common items that the majority of people own, or buy during the hotter months. But if you were to buy them all at once, it could cost as much as £763 – which is a steep price to pay for being summer-ready.

Our research shows that as expensive as these items already are, their costs are increasing. Some items have experienced significant price increases over the past two years.

However, these price increases don’t seem to be curbing customer appetites. Air conditioning units have seen an 18% price hike since 2022, yet the number of people buying them has doubled this year compared with last summer.

We’ve also seen an increase in the amount of people using credit to pay for ‘heatwave supplies’. Almost one in eight of the people we surveyed had used credit to help cope with a heatwave, and this number almost doubled when we spoke to people between 18 and 34.

If you’re considering taking out credit to keep you cool this summer, make sure you can afford the repayments, and maybe consider keeping an eye on second-hand seller sites like eBay and Vinted, to see if you could pick up some items for less.

We asked Akansha Nath, our General Manager (International) at Credit Karma, to share her tips on keeping costs down while keeping cool:

  1. Use your air conditioning efficiently – If you’ve invested in an air conditioning unit, make sure you’re using it to maximum efficiency. Keeping blinds or curtains closed to keep the house cool will ensure you’re not overloading your AC unit – and running up your electricity bill.
  2. Be prepared – Purchasing heatwave essentials in the colder months will allow you to take advantage of lower prices in the off season, as costs are often higher when temperatures soar.
  3. Take advantage of credit, smartly – When purchasing bigger items such AC units or black-out blinds, borrowing can be an efficient way to spread out the cost and build your credit score – as long as you’re making on-time payments. Ensure that you only borrow what you can afford to pay back and remember to make at least the minimum payment each month so as not to damage your credit score, but always aim to make your payments in full.

Bottom line

Keeping cool in the summer months can be costly. Don’t lose your head in the heat and spend more than you can afford. If you have to make new last-minute purchases this summer, see if you can find them cheaper elsewhere and make sure you can always afford any repayments.

  1. Credit Karma commissioned Opinium Research to interview 2,000 UK adults between 2 and 5 July 2024. ↩︎