10 money saving tips to help you save during the cost of living crisis

10 money saving tips to help you save during the cost of living crisis

Household budgets are being squeezed from every direction thanks to rising energy bills, record high fuel prices and soaring inflation. As a result, it’s more important than ever to find ways to manage your money more effectively, slash bills and save cash.

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About Finance

Looking for insurance, currency exchange or money transfer deals? Our experts have curated an incredible selection of finance discount codes and deals to help you get the best deal on all things money. Keeping track of our finances and hunting for the best rates does take a little research, but pays dividends in the long run.

At Savoo, find hundreds of the latest offers and voucher codes to help you pay less for energy, save big on essential insurance policies and get the best exchange rates on your travel money. Plus, take a look at our top money saving tips to get clued up on your finances. From exclusive discount codes for leading insurance providers to the latest sales on online accounting software, get your budget in check and make sure you’re getting the best value every time.

By Ed Fleming, your Finance Money Saving Editor

Last checked about 19 hours ago

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Finance Tips

  • Use a comparison platform like Money Supermarket or Compare the Market to find the best deals across insurance, credit cards, currency exchange and utilities. Browse hundreds of plans from leading providers and spot the best deals instantly - a really easy way to keep costs down.
  • Pay annually if you can. Choosing yearly plans instead of monthly payments tends to work out better value for money, and you’ll pay less overall. If you can swallow the chunk payment, it’s a great way to make sure you’re getting the best value.
  • Open a savings account and take interest rates into consideration. Whether you’re saving for a mortgage, a new car or just want some money away for emergencies, do your homework to find the best savings plan for your circumstances.
  • Lots of insurance and utility companies gear the best deals around new customers. Keep your eyes peeled for new customer incentives like discounted plans or freebies thrown in.
  • Download budgeting apps to help you keep track of your finances. There are plenty these days including Plum and Cleo as well as lots of app-based banks like Monzo that help you track where your cash is going in real time.
  • Believe it or not, credit cards can be used to boost your credit score. Use your credit card regularly and set up direct debit payments to pay off the balance each month. Check out these credit card guides beforehand to find out all the dos and don'ts.
  • Do an annual audit of your outgoings and subscriptions. Keep tabs on where your money’s going and see if there are any subscriptions you no longer need. You could save hundreds just by cancelling that unused gym membership or streaming service.
  • It’s easy to stick with the same energy supplier out of ease - but switching energy supplier can mean cheaper prices, new customer deals and is quicker and easier than you might think. Use Look After My Bills to find the cheapest energy tariffs and make the switch to enjoy lower rates.
  • Buy energy-efficient appliances to reduce energy bills and your carbon footprint. Whether you’re buying a new fridge freezer or oven, don’t forget to look at the energy efficiency rating too.

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