The 50 best ways to save your money and your sanity. A practical guide to saving money without losing your mind.
Although saving money can sometimes feel impossible, there are in fact lots of practical things we can do to get ahead. In this guide we have broken down 50 ways you could save money fast.
Before we begin a point to note that the information within this article is opinion only and is not offered in any way as guidance, nor advice. There are lots of factors to consider when saving and the points below are not exhaustive.
10Expert.com accepts no liability for any inaccuracies in any material or information in this article. 10Expert.com does not provide advice, endorsement or recommendation for any product or service.
Here’s our best 50 way’s to save money fast. Please like, share and comment below with what you think.
1. Make A Written Budget
Budgeting is the process of organising your income and expenditure. The final document is called a budget and is essentially a spending plan for your money.
Creating this spending plan enables you to determine in advance whether you will have enough money available to do all the things that you need or want to do.
Where your spending plan identifies that you will not have enough money to do everything, you can then prioritize your spending. Enabling you to focus your money on the things that are most important to you.
Budgeting is one of the most powerful techniques for saving money and it doesn’t have to be complicated, it’s really is just a way of planning and prioritising your spending. It’s best to make your budget in writing and to review this on a regular basis.
If you’re unsure how to start making a budget, check out TheBalance.com, they have a fairly comprehensive guide on how to complete written budget and you can access this here.
2. Pay Yourself
Paying yourself is about you doing some of those tasks, that you may have previously paid someone else to do for you and keeping the money saved just for you.
An example of paying yourself could be doing your own cleaning when you would have previously paid someone else to do this. Think of all the expenses you have where you could actually do the work yourself. The money saving options are almost limitless.
Paying yourself is a great way to retain more of what you earn for you, and by carefully choosing what you pay other people for, you can maximise the value for money that you get.
3. Bring Lunch
Going out for lunch each day can become a major expense over the course of a year.
Every day millions of us hit the shops in our lunch breaks to grab a bite to eat. Whilst this may be convenient, equally the cost over time can be significant.
You can save a small fortune by buying your own ingredients, and making your own lunches to take to work with you. It’s totally possible to make your lunches the evening, or even the weekend before work and refrigerate these.
Making your own lunches isn’t just good for your finances it can also do wonders for your health, enabling you to control what you’re eating and pick the quality ingredients that you love.
4. Eat In
Eating at home more is a great way to save money, and live healthier.
It’s so easy to get into a routine of regularly going out for food. Whilst an occasional meal out can be an enjoyable treat, doing this too much can wreak havoc on your finances.
Some studies have also found that regularly eating out, rather than at home can increase calories consumed by as much as 50% each day.
Try to limit going out for food to the more special occasions and you’ll be surprised how much money you can save.
Eating at home can also have additional benefits for families. A study from the National Centre on Addiction and Substance Abuse found that teens whose families ate together frequently were less likely to use alcohol, drugs and cigarettes.
Helpguide.com have compiled some helpful tips on how to cook at home and you can access this here.
For tips on how to buy a meal plan fitmencook.com has a helpful guide that you can access here.
5. Grow Your Own
Growing your own fruit and vegetables is not only great for your health, it can do wonders for your bank balance.
You can grow the varieties you enjoy the most and have an almost unlimited supply. You can also control how that produce is grown and keep it free from chemicals and pesticides protecting both you and the environment.
You can save a small fortune by growing your own produce. Fruit and vegetables are perishable, so to cover wastage supermarkets add high mark-ups. This is typically 50 to 75% on top of the price they pay the farmer.
If you’re unsure what to grow or how to get started, Thompson-Morgan.com have a helpful guide that you can access here.
6. Get on the Same Page
Money disagreements are so often the cause of relationship breakdown and divorce, you need to get on the same page with your money!
A survey of thousands of couples in the UK, by legal firm Slater & Gordon found that 22% had considered separating or divorcing their partner, with family finances cited as the main reason for relationships falling apart. 43% felt that their partner overspent and 32% said their partner refused to save.
Talking with you partner about your family finances is essential to find common ground. It can be difficult to get ahead with money unless you’re both on the same page. It’s not about getting them to do what you want, nor you doing what they want, it’s about respecting each other’s perspective and finding common ground so you can succeed together.
It is much easier to save money when you have agreed as a family what’s important and you’re pulling in the same direction. Without this making savings can feel like one step forward, two steps back.
The not for profit UK Money Advice Service has a comprehensive guide on how to talk money with your partner, you can access this here.
7. Don’t Auto-Renew
You might expect loyalty to be rewarded. When it comes to sticking with one service provider however, all too often loyalty is actually punished.
Every year millions of consumers are charged uncompetitive tariffs for things like phone, utility, insurance and broadband contracts, because they auto renew. Often service providers will only offer their best deals to new customers and by auto-renewing you can find yourself paying way over the odds.
This has prompted some industry watchdogs to ask for new laws to protect consumers. One such body in the UK, Citizens Advice, believes 80% of all consumers are being penalised by loyalty penalties. You can read the full findings of their study here.
Top Tip: Always shop around for the best price each year on your insurance, utilities etc. It is usually always cheaper to switch providers rather than renew a service agreement.
Remember though that it’s not just about the price. Before switching service providers you should consider things such as their reputation, the level of customer service and reliability.
8. Make Your Own Coffee
Throughout the week, trips to the coffee may shop give your mind a pick me up, but they could also be pinning you financial success down.
I love coffee and would struggle to get through a day without five cups! The reason however, that there are coffee shops on nearly every street corner is that the profit margins are great. Over the course of a week the costs of going out for coffee can really stack up, even £5 dollars a day on coffee, is £150 over the month.
You can still enjoy coffee, but try out buying your own and making it yourself. That way you can enjoy as much as you like but at a tiny fraction of the cost.
Top Tip: Treat yourself to a nice travel mug and some quality coffee. Get up five minutes earlier and take a lovely cup out with you in the morning. If you’re use to stopping for a coffee you have pretty much repaid your investment on the first day.
9. Borrow Kit Where Possible
If you only need to use something once or very irregularly, try and borrow it rather than buying one.
Sometimes it just doesn’t make sense to buy something if you only need it for a few hours. This could be a tool, a bike, anything, the point is if you don’t need it long-term see if you can lend one from a friend or family rather than buying.
Top Tip: There may also be a business that lends out what you need. There are lots of companies out there that specialise in lending tools, bikes, vehicles and so much more. If lending what you need isn’t an option, then pick one up second hand and sell it on as soon as you’re done with it.
10. Repay Debt
Debt is not your friend, he’s kicking your butt. Getting out of debt is one of the best ways to increase your disposable income and save money fast.
Personal debt levels are at all-time highs, in a trend shows little sign of changing. As a society we’re earning more than we ever have, but still spending more than we will ever earn.
Debt can completely diminish your biggest wealth creation tool… your income.
Repaying debt can take time and it won’t always a “fast” fix, however getting debt free makes it possible to save lots of money very quickly. For this reason repaying debt should be a top priority and if you don’t have debt then don’t get any!
11. Sell Unwanted Possessions
Selling unwanted possessions in a great way to save money and space.
It used to be a bit of an ordeal to sell on your unwanted things at garage sales & car boots. These days however the internet has saved us from such things and in the process revolutionised the industry.
Online marketplaces such as Ebay and Gumtree enable you to sell virtually anything to virtually anyone. You simply list an item for a set price or as an auction, whoever wins the auction then pays you and you post the item to them (for larger items they can collect or arrange a courier).
The site operator facilitates the transaction, essentially acting as a middle man, providing additional protection and confidentiality to the buyer and the seller. The site operator collects a small commission from the sale price for their services.
12. Stop Leasing Cars
Giving huge amounts of your income to Jaguar or BMW every month will send you broke, quicker than a brick through a window.
Car leasing is a very expensive way to run a car, despite this in 2016 over 20% of all new car transactions in the US were leases.
With the average lease payment totalling $499 a month many financial experts have called stupid on the trend; most notably Dave Ramsey, a US based financial guru who has pointed out that $499 invested monthly until retirement could realistically grow to five million dollars!
The average car payment in US is now $499. That is straight up stupid. That much invested would be over $5M at retirement.— Dave Ramsey (@DaveRamsey) 15 September 2016
If you disagree with the growth projections in the above statement then “change them” as Dave Ramsey says. Whether you get an 8% return or a 0% return, $499 invested monthly until retirement still adds up to a hell of a lot of money…
If you have a car lease, see what your options are to get out of it early and to instead buy a car that you can afford. Once out of your lease, never lease a car or for that matter anything else ever again.
13. Ditch Unused Gym Membership
An unused gym membership will only get your bank account skinny, get rid of it!
A 2019 survey in the UK estimated that Britons spent four billion pounds a year on unused gym memberships. A staggering 23% of Britons are thought to be gym members and only 12% are believed to regularly visit the gym.
Top Tip: If you’re not regularly using your gym membership then it’s wise to either cancel or pause it. It may also be possible to change your gym membership from one branch to another, where a gym nearer home or work may be easier for you to attend.
Without a gym membership you can still go for a run outside and it even comes with free fresh air!
In James Clears book Atomic Habits, he talks about the different between being in motion and being in action. Joining the gym makes us feel like we are getting fitter without having to do anything really, this is being in motion. This is why there are so many unused gym memberships, in exchange for a monthly direct debit we can tell ourselves our health matters without actually doing anything. Don’t be in motion, forget the gym membership, get your running shoes on and take action.
14. Shop Around on Utilities
Switching your utility contracts over to better deals can help you save hundreds of pounds a year.
Gas, Electric, Phone and Broadband contracts are just some of the services that place consumers on a constant merry-go-round. Utility providers get us in on competitive deals and then massively hike prices when the deal expires.
The reason utility providers do this is because they know the majority of people won’t get around to moving the contract when the introductory tariff comes to an end. Essentially they are offering you a great deal for the initial term in the expectation they can charge you much more when the introductory offer expires.
This practice is of course wrong and some would even say immoral, but that said it looks set to continue at least for the time being. If you’re wondering what you can do to avoid this? You need to make time to shop around for the best deal when utility contracts expire.
If you haven’t taken much interest in your utility tariffs it may be that you could make significant savings each month by moving some of these services to cheaper deals. Price comparison sites make this process so easy. In the UK popular price comparison sites include comparethemarket.com & moneysupermarket.com.
15. Move Credit to Cheaper Deals
Avoid taking out credit if you want to save money, but when you already have debts then moving it to the cheapest possible deal is a great way to save money each month.
Whether it’s finding a cheaper loan deal or doing a 0% balance transfer on your credit card, renegotiating debt can create significant monthly savings. The same is equally true of mortgages where even small interest rate differences can equate to savings of hundreds of pounds a month.
Top Tip: With credit card balance transfer deals it is important to be aware of the other fee’s involved so make sure that you do your research. Often a balance transfer fee is payable, which can be as high as 3%.
As with utilities, price comparison sites have revolutionised the way we find the best loan, credit card and mortgage deals. In the UK popular price comparison sites include comparethemarket.com & moneysupermarket.com.
16. Stop Upgrading Your Phone
When your mobile phone contract is up, keep your existing handset and go SIM only.
Whilst you might like to have the latest IPhone, you almost certainly don’t need one. If you’re using a modern smartphone then that should be pretty much sufficient for anything that you could want or need to do on it.
Upgrading your phone just so you can have the latest handset is not a good move. You’re essentially buying another £500 to £1000 phone, but splitting the payments over a couple of years and hiding the cost of the phone in the monthly payments.
There’s a reason why Apple have become the world’s first trillion dollar company. They have managed to convince hundreds of millions of consumers to buy a new £1000 phone every 12 to 24 months, and whilst you’re going broke, Apple are becoming bigger than most countries…. Not a great deal if you ask me.
Top Tip: Keeping your existing handset and moving onto a sim only contract could see your monthly payments fall to a fraction of a typically phone contract. SIM only deals are much cheaper because you are only paying for the calls, texts and data that you need, without the cost of a new phone on top.
17. Quit Smoking
In case you didn’t get the memo smoking isn’t cool anymore, it destroys your body and your bank balance.
Smoking is a very expensive habit, particularly in many western countries where high taxes are imposed on tobacco products to curb their use. To make my point one study in the US found that smoking costs the average smoker at least $1.1 million over their lifetime. In some states the average lifetime cost was north of $2 million!
Quitting smoking enables you to save money fast whilst also doing something good for you at the same time. For information about the health risks of smoking, the NHS have a great resource that you can access here.
For tips on how to quit smoking AllenCarr.com have some great resources which you can access here.
18. Cut Back On The Booze
Save money and feel healthier by cutting down on alcohol consumption.
A drink every now and then is lovely, but drinking too often can really hold you back financially. Alcohol is relatively expensive and is not very good for you or your bank accounts health.
Top Tip: If you drink most days throughout the week, cutting back on alcohol can be a really effective way to save money fast. Restricting your drinking to weekends or social gatherings can have a huge impact on your alcohol consumption and save you money.
Many drinkers would say that alcohol makes them feel happier, but there is increasing evidence suggesting that the more alcohol consumed the more unhappy consumers are in the long term.
For many of us we drink as a coping mechanism to deal with stress and other negative emotions. It sounds like a cliché but over the long-term the alcohol just pulls your mood and your bank balance further and further down. Instead try getting a good night’s sleep, exercise and eat well and you will feel so much better for it, whilst saving a fortune on alcohol at the same time.
19. Get Outside
Day trips outdoors are a great way to save money and feel healthier.
It’s important to get out and have some social interaction, particularly as a family or a couple, however not every trip out has to cost lots of money. Some of the best days out, cost absolutely nothing.
There are lots of places you can go for a day trip that are absolutely free. This could be a local landmark or place of natural beauty such as a national park or a free museum. The options are almost limitless, the key is still getting out, learning and exploring without spending a fortune.
Skyscanner.net have compiled a handy list to 10 of the best free days out in the UK, you can access this here.
To make it a truly free day trip make a picnic and take it with you.
20. Have a No Spending Day
Having a no spending day each week is a great way to build financial discipline and to save money.
Whether it’s a train fair, lunch or nipping out for some dinner the odds are you’re probably getting your cash out most days. All of these little purchases do add up, and having even one day of no spending each week can help you to save money.
More than the money saved, the financial discipline a no spending day can instil can help you to make better financial decisions in the future.
21. Get It Second Hand
You can save a fortune by picking up some things second hand.
Whilst you might not fancy buying a second hand toothbrush, you probably don’t care if the book your reading has previously belonged to someone else.
Lots of things lose the majority of their value when they’re used, even when nobody can tell. This is true of vehicles, games, books, DVD’s, tools and so much more.
Ebay.com has transformed the way be buy and sell used goods. Now you can pick up virtually anything you want, used at a fraction of the new price, all from your own home.
22. Amass Member Rewards
If you find yourself shopping in the same store every day, then join their membership scheme.
Right so admittedly amassing member points isn’t going to make you a millionaire, but if you are shopping there anyway, why not collect them.
Lots of stores have membership schemes to encourage customer loyalty. These points are often rolled over until you amass enough and you can then use these for instore purchases.
Top Tip: Don’t fall into the trap of spending more in store just to collect points. Only buy what you need and any points collected are an additional benefit. Also never use store cards, these are essentially credit cards masquerading as “loyalty” or “membership” cards and like all credit cards can create plenty of misery and stress in the long-term.
23. Grab a Freebie
If money is really tight then keep your eyes peeled for a freebie.
There are websites that allow people to share when they have unused or unwanted possessions and make these available freely to whoever wants them. These sites allow people to help their community, recycle and move on the unwanted possessions that they no longer need.
The benefit to the previous owner is they can get the possession they no longer need out of their home, whilst its new owner can equally give it a new lease of life whilst also saving some money.
24. Freeze Groceries
A report from the Natural Resources Defence Council and Harvard Law School in the US found that 40% of American food goes to waste each year.
Top Tip: Planning meals can help you to significantly reduce waste and save money. Believe it or not lots of your household groceries can also be frozen to extend their lifespan.
Bread, milk, pasta and wine to give just a few examples can all be frozen. Freezing leftovers can also provide great healthy readymade meals for when you don’t fancy cooking.
25. Go Minimalist
Surround yourself with the things that you need and value in your life and stop collecting stuff for stuffs sake!
It’s easy to wake up one day and find that you’re completely surrounded by things that you don’t need and often don’t even want. Wardrobes full of clothes and shoes, unloved gadgets and tech everywhere.
Change your mind set to only really make essential purchases that will enhance your life in some way. Selling the things that you don’t really need or want is also great way to raise additional money.
26. Make A Shopping List
It’s easy to get caught up at the supermarket, so make a shopping list, take it with you and most importantly stick to it!
Supermarkets rely on you impulse buying and it’s a great strategy. How many of us can honestly say we only walk out of the supermarket with only what we went in for? Not many of us I suspect.
By thinking about what you need in advance and making a list you can avoid impulse buying and thus make significant savings to your household shopping.
27. Find Somewhere Cheaper To Live
If you need to save money fast then finding somewhere cheaper to live could be the answer.
It’s difficult to get ahead when you are pinned down by high rents or mortgage payments. In such situations finding a cheaper place to live can be an effective way of increasing your disposable income.
If you own a home you could also look at the less extreme option of searching out a cheaper mortgage deal or requesting a repayment holiday from your lender if this is available. It’s worth noting that selling a property itself can be very expensive process, as is buying one. If renting you could discuss if your landlord would consider a rent reduction to retain you as a tenant.
Wherever you live it needs to be affordable for you. Housing hosts are the biggest element of most people’s expenditure and so savings here can have a significant impact on your overall financial position.
28. Cancel Your Satellite TV
If you are looking to save money fast then ditch premium TV packages.
Satellite and Cable TV packages can be really expensive and if you are looking to save money each month, cancelling these services can help you to save money fast.
Whilst you might like your satellite TV, the odds are it’s probably not essential. Now that so much viewing content is available through free to air channels and youtube, what’s the point of paying for satellite especially when you have more important expenses.
Top Tip: If I can’t convince you to cancel your satellite then at least pretend to… Often if you call your satellite provider and say you want to cancel they will quickly and quite significantly reduce your bill. This won’t always work but it’s worth a go.
29. Use Your Employee Benefits
Often employers will offer access to discounted products and services such as will writing, private medical care and insurance.
Always take the time to fully understand your employers reward package and the wider company benefits that are available to you. It could be that utilising some of these benefits can save you money and enable you to cancel services you are paying for elsewhere.
Top Tip: If you work for a big company they will usually have a website and team to specifically help you understand your reward package and company benefits, take the time to review and understand what’s on offer.
30. Set up Regular Savings
If you want to save more each month, then set up regular payments to go straight into your savings account.
Ideally on the day you get paid, have whatever amount that you want to save going straight into your savings account. Much the same as you do with your household bills.
Making your savings a reoccurring payment can help you think of this money differently, in your mind this money is already gone when you get paid, so you don’t miss it as much.
Top Tip: When it comes to regular savings, saving even small amounts monthly can quickly add up over time, for example saving just £50 a month is £600 saved each year before interest. Saving just £50 a month with a 5% return adds up to over £20,000 in twenty years.
31. Stop Paying for Delivery
A recent study of UK consumers found that we now shop online an average of six times a month, with some consumer demographics racking up even more online purchases.
Considering the shift from the high-street shopping to buying online, delivery charges for online purchases do start to really add up.
Top Tip: Where possible always opt for free delivery or to click and collect from the store. If you’re spending a lot on deliveries each month it might be worth considering a service such as Amazon Prime. Within Amazon Prime you can get virtually anything on Amazon delivered next day free of charge in exchange for a monthly subscription fee, with other benefits included such as amazon prime video.
32. Get a Library Card
A library card is a great way to save money but still read as many books as you want.
You can also get unlimited access to a range of digital and audio books via subscription services like Amazon Prime and Audible.
33. Try Own Brand
For one month shop own brand only and you might be impressed at the quality of the produce as well as the savings that you make.
Through an overwhelming barrage of advertising we are constantly being told to buy branded goods. Whether its Heinz sauces or Kellogg’s cornflakes, the message from retailers is clear, buy branded goods.
The reason that we are being pushed towards branded goods is usually because they are more expensive and create bigger profits for the retailers. Many times, unbranded produce is just as good quality and can even taste better.
Top Tip: For one month make a conscious effort to try as much unbranded produce as possible. This will help you find unbranded goods that you enjoy just as much and you can then introduce these into your regular shopping, creating significant savings each month.
34. Go Off-Peak
Traveling and other services will very often be significantly cheaper outside of peak times.
A common example is holidaying out of season which is covered separately in this article, however the issue of off peak savings goes beyond this.
Train travel, entertainment prices, energy usage and more can all be significantly cheaper outsider of peak time.
In the case of train travel the price differential between peak and off-peak travel can be significant, particularly for busier routes. On the day I write this the cost of a return ticket from Manchester to London can vary by almost £300 for standard class.
Travel at peak times can be so expensive because there is so much demand for limited tickets, off peak travel is cheaper due to the lower demand from travellers… It’s essentially supply and demand.
As noted above some energy companies will also charge differently for energy usage depending on whether usage is at peak or off-peak time.
In summary whatever it is you’re doing, you should consider whether doing it outside of peak times could help you to save money.
35. Only Use Free Cashpoints
Paying to withdraw your own money is crazy, only use free cash machines.
Paying a £2.50 fee to use a cash machine might not seem like a big deal, but depending on what you withdraw the charge can be a huge percentage in relation to this. On £20 that 12.5%, on £50 its 5% and for what, to access your own money.
Top Tip: Only use free cash machines or withdraw cash directly from your bank, where it’s not possible to do this try then going cashless and pay for purchases on your card instead.
36. Cut Out Junk Food
The myth that junk food is cheaper than eating healthy is just that, a myth.
Research & medical opinion suggests it remains significantly cheaper to buy healthier food and common sense surely backs this up. For the cost of one cereal bar or trip to McDonalds you could invariably for buy a bag of apples, or a pack of quality eggs.
Top Tip: The reality of junk food is that it’s terrible for your physical and mental wellbeing and eats money at the same time. A great way to save money on food is to do a meal planner for each week and bulk buy the ingredients specifically for those meals.
For tips on how to buy a meal plan fitmencook.com has a helpful guide that you can access here.
37. Shop Around, Before you Fill Up
Always shop around for the best deal on your tank of fuel, prices can vary drastically from petrol station to petrol station.
It might seem counterintuitive that two petrol stations half a mile apart could charge a difference of 10% for petrol and diesel but this does often happen. Some petrol stations get so much traffic they can charge whatever they want, especially because most people aren’t even looking at the price they are just filling up.
Top Tip: Try to be more conscious of what you are paying to fill up and try a petrol price comparison App. There are now tons of apps that enable you to compare petrol prices. In the United States the best-known gas price app is GasBuddy, whilst in the UK the inventively named Petrol Prices app is one of the more popular.
38. Use Price Matching
When purchasing something new always check for price matching.
Many retailers will match a price from a competitor in order to secure your business. This can be a great way to get the best price out there, whilst still buying at a time and at a place that’s most convenient for you.
Retailers that offer price matching may impose some restrictions on this, so you need to check the small print.
Top Tip: It’s not just retailers who offer price matching. Some insurance companies and travel money providers for example will also match or beat a competitor’s price. Always ask the question and do some research before completing your transaction.
39. Wrap up Warm In Winter
Some of the best ways to save money are also the simplest.
Wrapping up warm in the winter to save money on heating may be fairly obvious but it seems not many of us do it. A report from the Department of Energy & Climate Change (DECC) in 2014 showed that household energy demand between the average winter’s day and summer’s day varied by almost 40%.
Top Tip: There’s lots of other things you can do to reduce your home energy costs in winter such as keeping curtains shut in unused rooms. This helps because a staggering amount of energy leaves a room through closed windows in the winter.
The BBC have compiled a handy guide on how to keep your home nice and warm in the winter and you can access this here.
40. Unplug Unused Electricals
Believe it or not unused electricals that are left plugged in could be costing you hundreds of pounds a year.
Some electricals can draw up to 30% of the power they use when on even in standby. Whilst some electricals will no doubt be more efficient than this, the costs of leaving electricals plugged in can still quickly add up.
A study by the U.S. Department of Energy found that an appliance constantly taking in 1 watt of electrical current is equivalent to 9kWh per year, adding up to $1 in annual costs (basically $1/watt/annual). They concluded that considering how many appliances are used in an average household, costs can quickly add up to $100-200 per annum.
Top Tip: Unplugging unused electrical items is a great way to save money fast by reducing your energy bills. There are other benefits as well, including the environmental benefits of less energy wastage; Also the fact that an electrical appliance that isn’t plugged in is unlikely to overheat and catch fire.
41. Swap Around For Best Rates
If you have savings then consider shopping around for the best return you can get.
Over time the effect of changes to interest rates can have a significant impact on savings balances due to cumulative returns.
For lower balances and shorter periods of time the impact may be less relevant, it still makes sense however to get the best return you can on your hard earner money.
Remember there are other important factors to consider beyond return, such as the accessibility and security of your money. Also important is the reputation of the provider and their level of customer service.
Comparison sites can help you to compare different savings accounts with different providers and find one that best meets your needs. In the UK popular comparison sites include moneysupermarket.com & comparethemarket.com.
42. Cancel Unused Memberships
Look at every service, subscription and membership you have and if you haven’t used it in a month then cancel it.
Top Tip: It’s pointless paying for services you are getting no benefit from. Things like magazine subscriptions and video streaming services can seem cheap at the time but over the year the costs can quickly stack up. When you aren’t getting value from these services anymore it’s time to cancel them.
Getting rid of unused services and subscriptions is a quick and easy way to save money fast.
43. Check for Overpaid Tax
It’s always worthwhile checking how much tax you have paid at the end of each tax year, as sometimes you may be due a tax rebate.
In the UK HMRC collects taxes on behalf of the government. HMRC aim to deduct just the right amount of tax each year, however even small changes to your income or occupation throughout the tax year can lead to over of under payment of taxes.
Top Tip: To check if you are due a rebate, contact your tax office or follow the HMRC guidance which you can access here.
Whilst the guidance above is more relevant for UK tax payers, the principle is the same whichever country you live in. That is check your taxes each year and contact your tax authority if you feel you may have overpaid in tax.
44. Check State Benefit Entitlement
Depending on your circumstances you may be entitled to receive state benefits.
There are a huge range of state benefits, particularly in the UK. Depending on your situation you may be eligible to receive some state support. State benefits can be available for low income families or people with disabilities or those who are caring for people with disabilities.
45. The Sniff Test
Exercise common sense before throwing out food that’s past its best before date. Give it the sniff test and if it smells okay and looks okay, it may well be fine to eat.
A report from the Natural Resources Defense Council and Harvard Law School in the US found that 40% of American food goes uneaten each year, and the disorienting effect of the date labelling system is in large part to blame.
Top Tip: Understanding the difference between best before and use by dates is really important. A best before date is about quality and not safety. The food will likely still be safe to eat after its best before date but may no longer be at its best. Things like flavour and texture might not be as good after the best before date.
A use-by date on food is all about safety. You should never eat anything that has gone past its use by date or you are putting yourself at risk of food poisoning. You will see use-by dates on foods that go off quickly, such as meat products or ready-to-eat salads.
46. Holiday Out Of Season
Holidaying at peak times can cost up to 50% more than traveling out of season.
A trip away in October can cost up to 50% less than three months earlier in August and depending on where you are traveling to it might you still get the same great weather.
Top Tip: Whenever you choose to go away you should always shop around for the best deal on your flights and accommodation. Across different travel sites the differences in accommodation costs can be significant.
Cost differences can be even more apparent with travel costs. To illustrate my point, I did a quick search for flights from London to Lanzarote for a date in August. The cost difference between the cheapest and most expensive fare was £800. You should always check what’s included before booking, as some airlines are well known for their hidden additional charges.
47. Get Cash Back
When you want to buy something online you may be able to get cashback by using a cashback website.
The amount of cashback you receive can range from pennies to hundreds of pounds depending on what you’re purchasing. You’ll usually have to sign up to the cashback site, which should be free, if it isn’t then it’s probably best not to bother. Some banks may also provide cashback on certain debit and credit card purchases.
Top Tip: The rule of thumb with cash back is if you would have made the same purchase anyway, then why not earn some cashback at the same time; however you should never buy something that you don’t need, want or at an inflated price just to get cashback on the purchase.
48. Avoid Premium Rate Numbers
Never call a premium rate number, they’re a total rip-off.
Rather than use a premium rate number to contact a company, use free methods of communication such as letter or email. You could even email the business asking that they call you back at an agreed time. Many companies will also offer a live webchat service through their website.
Which have published a helpful guide on how to avoid premium rate numbers and you can access this here.
49. Look For A Discount Code
Before you click buy when shopping online, always search for a discount code.
Ever notice when you’re buying something online there’s often a box to enter a promotional or discount code? This is a really good indication it’s worth digging around to find one.
Top Tip: Often a quick search of google can present you with dozens of promo codes for something you would have bought anyway, so taking a few extra minutes at the checkout can really pay off.
Some stores will also offer you discounts if you take a purchase to checkout and then don’t proceed with your order. This has happened to me several times, most recently when I was buying a luxury pen and had second thoughts at checkout; I abandoned my session at checkout only to receive an email from the company offering a 25% discount if I completed my purchase that day, which was more than enough to win me over!
Not all companies will reach out to you with an exclusive discount, but some will and this has happened for me several times.
50. Look Beyond Designer Brands
Focus on finding the style that you want and not the designer.
Mixing and matching premium and high street fashion is a great way to save money and look great at the same time.
Top Tip: It’s easy to obsess over designer fashion and lose sight of both value for money and style. Focus on finding clothes that make you look and feel great and not on the name hidden on the label.
Thank you for reading. Hopefully this article has given you some food for thought! Good Luck with your money saving and please like, share and comment below with what you think.
Please remember that the information within this article is opinion only and is not offered in any way as guidance, nor advice. There are lots of factors to consider when saving and the points above are not exhaustive.
10Expert.com accepts no liability for any inaccuracies in any material or information in this article. 10Expert.com does not provide advice, endorsement or recommendation for any product or service.