You are here: Home - Saving & Banking - News -

Revealed: how Brits plan to save money in 2016

0
Written by: Paloma Kubiak
05/01/2016
Vouchers, shopping around for insurance, switching supermarkets and cutting out treats such as coffee and takeaways are just some of the ways Brits plan to save money this year, according to a survey.

Research commissioned by GoCompare found that just under half (48%) of UK adults will use money-off coupons, vouchers and apps to avoid paying full price for a range of goods and services, while 44% will use benefits from loyalty and cashback schemes to cut their spending.

Other tactics for saving cash include setting a budget, reviewing or cancelling mobile phone contracts and walking or using public transport instead of cars.

The survey of 2,002 people also revealed that 10% are “seriously worried about their finances” and 6% said they rely on credit cards to make ends meet.

It also revealed that:

  • 30% of Brits plan to try and reduce their outgoings in 2016
  • 14% of those surveyed said they run out of money before the end of the month
  • 11% expect to have a credit card debt for most of 2016.

Here are the top 15 ways Brits will aim to save some money:

YMoney MoneySaving 5 1 16

Matt Sanders, money spokesperson at Gocompare.com said, “Making money go further is a key theme in many of the nation’s money savings tactics – whether that’s using vouchers and coupons to get discounts and freebies or shopping around for a better deal on insurances and household utilities.  Collectively, these money saving tactics can save you hundreds of pounds in the course of the year on a range of goods and services.”

 

 

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

If one of your jobs this month is to get your finances in order, moving your savings to a higher paying deal i...

Everything you need to know about being furloughed

Few people had heard of ‘furlough’ before March 2020, but the coronavirus pandemic thrust the idea of bein...

Coronavirus and your finances: what help can you get in the second lockdown?

News and updates on everything to do with coronavirus and your personal finances.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
Spotlight on Marks and Spencer’s new current account rewards offering

The high street retailer has thrown down the gauntlet to the big players in the current account market by revamping...

Close