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10 tips for saving money

Jar for saving money

Saving money can sometimes feel like an uphill struggle, especially if you’re working towards a big purchase, like a car or a first home. But, there are some tricks you can use to try and squeeze those extra pounds into your savings.

1. Budgeting and goals

It sounds obvious, but having a budget and an end savings goal to achieve can make a huge difference! Not only can it help you stick to your goal, it can also show you where you may be spending too much. Read our tops tips for making a budget (which includes a budgeting tool) and sticking to it.

2. Save little and often

Try challenging yourself to put aside £1 each day or start up a change jar – at the end of each week, put any leftover cash in your wallet into the jar. This can be a great way of saving money for a treat, holiday or Christmas.

3. Cashback sites

When planning a shop, you can check out cashback sites such as Quidco and Top CashBack to see if you can get money back on anything on your list. Making a habit of this may help you make small, regular savings. In addition, sites and apps such as MyvouchercodesVouchercloud and Vouchercodes give great deals on shopping, eating out, experiences and getaways. You can sign up to receive their daily emails.

4. Consumer panels

You can also pick up vouchers and other rewards by joining consumer panels or product testing sites, such as ShopandScan, Clicks Research or Tesco Home Panels. However, it’s important to be aware of scam sites – if offers seem too good to be true, it probably is.

You can find more tips for getting the most out of these (and other) sites on MoneySavingExpert.

5. Saving money on grocery shops

Sticking to a list can help you avoid spending more than you need to on food shops. You can also visit www.mysupermarket.co.uk to compare the price of goods across major supermarkets to find the best deals.

6. Cut back on mobile bills

Need a new phone? Check out the price of buying a handset outright and getting a ‘SIM only’ deal. It may work out cheaper in the long-run. Also, if your contract is up for renewal, don’t be afraid to call and haggle with your provider for a better deal. You’d be surprised how much you can save! See the point on haggling below for more guidance.

7. Hunt around for energy deals

Avoid the temptation to auto-renew with household bill providers. Instead, plan some time when it’s time to renew and have a shop around. You may be able to shave some money off your outgoings by finding a cheaper provider. Price comparison sites such as Compare The Market and Money Supermarket can be very helpful for this!

8. Get haggling!

You may also be able to cut down on energy, TV, internet, phone and insurance bills. Which? has some great tips for haggling on its blog.

9. Check your benefits

Think you may be entitled to benefits? Make sure you don’t miss out! You can use our benefits calculator to find out what you can claim.

10. Use social media

Follow shops or companies on social media to get the latest news on offers, as well as the chance to win free stuff.

Worried about your finances?

If you’re worried about making ends meet, we’re here for you. You can call Ben’s free and confidential helpline on 08081 311 333 or, if you’re not ready to talk, use our online chat.

It’s completely free to get in touch with us if you work (or have ever worked) in the automotive industry, or you are dependent on someone who is.


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