Discount vouchers, coupons and apps top the list of the nation’s favourite money-saving tips, with half of UK adults saying they use them to cut the cost of goods and services, new research has found. Taking a packed lunch is popular with 44% of people, while 41% use loyalty and cashback schemes to save money.
Batch cooking, turning the thermostat down and holidaying in the UK also feature in the list of 25 cash-saving tips compiled by GoCompare.com.
When asked about the reasons for their savings habits, 42 per cent of people said saving was a necessity, 39 per cent per cent said that they hate unnecessary spending and 28 per cent said they were on a tight monthly budget. Just over a third of respondents claim they picked up their money-saving habits from their parents.
Women topped the table for 20 out of 25 of the tips, but despite this men reckon they save £693 a year, compared to women who think they typically cut £504 off their bills.
Claire Peate at Gocompare.com, said: "Our survey suggests that many people are feeling under pressure to save money to make their squeezed budgets go further. Coupons, vouchers and money-off apps are increasing in popularity and can cut the cost of a wide range of goods and services – from tins of beans, beauty treatments, driving lessons and car tyres, to meals out - helping people to save money on the things they need or want rather than cutting them out altogether.
"Another effective way to cut costs is to shop around for better deals – whether that’s on your weekly grocery shopping, household bills, insurances or other financial products – there are some significant savings to be made," she adds.
The UK's top 25 money-savings tips: Which do you use?
- Use vouchers, coupons, money-off apps
- Take a packed lunch to work
- Use loyalty and cashback schemes
- Turn the thermostat down to reduce heating bills
- Do more home cooking and batch cooking
- Cut down on takeaway meals
- Shop around for insurances
- Keep a coin jar and save change
- Switch energy supplier
- Cut out takeaway coffee/coffee shop treats
- Draw up a budget and stick to it
- Plan meals, make a shopping list and stick to it
- Downshifting to a cheaper supermarket
- Never impulse buy – sleep on it
- Only use cash – not cards
- Take your own treats to the cinema
- Buy second-hand instead of new, use sites like eBay or Freecycle
- Review your satellite or cable subscription or cancel it altogether
- Don’t use a tumble dryer
- Never grocery shop on an empty stomach
- Review your mobile phone contract or come off a contract altogether
- Leave the car at home and walk or use public transport
- Cut up your credit cards
- Transfer all credit card debt to a 0% card
- Holiday in the UK rather than abroad.
There’s more money-saving advice in every issue of Yours magazine, out every fortnight on a Tuesday.