Money saving tips

No matter where you are on your financial journey, you can turn your life around if you’re struggling with debt. Below are some money saving tips to help you get started.

If you want more advice about debt, you may find the Money Advice ServiceCitizen’s Advice or StepChange websites useful.


  • Banks often have offers for new customers, which can include cash payments. You may want to switch over to a new bank to make the most of these offers
  • Try moving to a bank that charges lower or no overdraft fees
  • You can also speak to your bank to try and get a larger planned overdraft to reduce any fees
  • If your credit card balance is high you can open a balance transfer credit card. These often have lower interest rates and you can use them to pay off your existing credit card
  • Try to reduce the amount you spend on credit cards to limit the amount of interest you are charged each month

Utilities and services

  • Turning off your appliances and lights when you're not using them can reduce your energy bills
  • Some energy providers offer a discount to people who live on their own. Ask your provider if they can offer this, or research to see if you can get a better deal from another provider
  • Use price comparison websites to find better rates for things like mobile phone contracts, insurance, and utility providers

Food and meals

  • Stick to a set shopping list to reduce the risk of impulse buying. This makes it easier to stick to a budget
  • Some shops offer savings if you buy items in bulk. This is a good way of saving money when you are buying items that won't go out of date, such as tinned food and toiletries
  • Buy supermarket own-brand items, which are normally cheaper than household names
  • Cook meals in batches and freeze them to eat later. By cooking lots of meals at once, you might use less energy

Socialising and entertainment

  • Cancel subscriptions that you don't use anymore
  • Most shops have sales straight after Christmas. Buy presents for the next year during the sales to make the most of the discounts

Other ideas

  • Make a visual reminder of your debt. For example, mark on a calendar when your money is coming in and when your bills are due. Having visual aids can improve your budgeting skills and make it easier to achieve your goals
  • Nearly-new items are cheaper than buying new ones. If you buy them from a respectable shop, they may offer a warranty scheme to give you piece of mind
  • If you shop online, some websites can give you back some of your spending as cashback, which you can then spend on future purchases