News
Revealed: the nation’s top 25 money saving tips
Written By:
Your Money
Posted:
Updated:
05/12/2014
Thrifty money saving efforts are boosting people’s finances by an average of £530 a year.
According to research by comparison site Gocompare.com, vouchers, money-off apps, packed lunches and home cooked meals are popular money savers together with shopping around for insurance and reducing energy use to shrink bills.
But, while 70% of us are happy to share money saving tactics with friends and family, 27% of those surveyed kept their coupons and other money saving tips to themselves.
The research revealed that 95% of people are always looking for ways to save money.
Britons’ favourite money saving tactics include:
| Rank | Favourite money saving tactic | % |
|---|---|---|
| 1 | Use vouchers, coupons, money-off apps to get discounts | 57 |
| 2 | Take a packed lunch to work | 50 |
| 3 | Shop around for insurance | 49 |
| 4 | Turn the thermostat down to reduce heating bills | 49 |
| 5 | Use loyalty and cashback schemes | 49 |
| 6 | Cut down on takeaway meals | 46 |
| 7 | Do more home cooking and batch cooking | 41 |
| 8 | Keep a coin jar and save change | 41 |
| 9 | Take your own treats to the cinema | 40 |
| 10 | Plan meals, make a shopping list and stick to it | 38 |
| 11 | Cut out takeaway coffee/coffee shop treats | 38 |
| 12 | Don’t impulse buy – sleep on it | 37 |
| 13 | Switch energy supplier | 35 |
| 14 | Buy second-hand instead of new, use sites like eBay or Freecycle | 31 |
| 15 | Never grocery shop on an empty stomach | 30 |
| 16 | Draw up a budget and stick to it | 30 |
| 17 | Don’t use a tumble dryer | 29 |
| 18 | Review your satellite or cable subscription or cancel it altogether | 27 |
| 19 | Switch to a cheaper supermarket | 26 |
| 20 | Leave the car at home and walk or use public transport | 25 |
| 21 | Review your mobile phone contract or come off a contract altogether | 25 |
| 22 | Cut up your credit cards | 23 |
| 23 | Transfer all credit card debt to a 0% card | 22 |
| 24 | Review your gym membership or cancel it and train outdoors | 21 |
| 25 | Only use cash – not cards | 20 |
