Skip to main content

Top 10 Money Saving Tips

Jan 31, 2011

It may be the season to be spending, but with continuing strain on the household purse strings, start the New Year in thrifty style!

Here are 10 simple, cost-cutting tips that could help you reign in the outgoings and save some pennies:

1. Own brand bargains

If you tend to opt for the big name brands when buying food, try the shop's own. There can be a big difference in price and not as much difference in taste as you think.

2. Swap shop

We're all creatures of habit and might stick with the same supermarket because we like to know our aisles. But you could save a packet by taking a trip to a store renowned for good value, so give it a go.

3. Switch it off

A standard TV still uses 2 watts of power when on standby and LCD and plasma screens use more. According to the Energy Saving Trust, switching appliances off saves the average household at least £37 per year.

4. It's free on foot

Where practical, choose walking over driving – it'll save you money, cut emissions and help to keep you fit.

5. Spot the difference

It might seem like hassle, but checking the price of your household services could save you a bundle. Use comparison websites or ask friends and family what they pay.

6. Winter warmer

It may be tempting to turn the thermostat up when the icy climes hit home, but try pulling on a woolly jumper instead and you could be just as toasty. With the cost of household gas and electricity on the rise, it could really help to keep those bills down.

7. Grow your own

If you have a garden, access to an allotment or even just a window box, try growing some of your own fruit and veg. Lettuce, carrots and tomatoes can be particularly easy and chillies can thrive on a windowsill.

8. Paper Reuses

Wrapping paper and gift bags are easy to reuse and doing so helps to save money as well as the environment. You can get more life out of envelopes, food containers and boxes, too.

9. E-cards, free cards

The cost of paper cards plus the postage can make season's greetings pricey to send. But many websites offer a free e-card service that’s quick, easy to use and could be preferable to greener friends.

10. A load of cobblers

Do you really need those new shoes? Your local cobbler can re-heel, resole and generally renew your footwear for a fraction of the cost of a new pair.

If your sterling efforts to trim the outgoings leave you with surplus funds, try building up a stash of cash in a savings account. The regular saver from Teachers Building Society offers an attractive interest rate for a minimum monthly deposit of just £10. For more information, check the website or call 0800 378669.

Our Savings Rates

Compare Now >

Mortgage Calculator

Find out how much you could borrow today Start now >