April 15, 2024

Savvy tips for saving money throughout the month

Is the cost-of-living crisis leaving a hole in your current account? Perhaps you’re saving for your first car, or maybe you’re even working towards a house deposit. Whatever your reasons for wanting to save a bit more money might be, we’ve got you covered. With a few proactive steps, it could be easier – and faster – than you’d expect for your efforts to start paying off.


Saving money in 2023: Our eight steps to success

  1. Reduce your bills

Even though the government is extending financial support for UK households, energy prices are still at an all-time high in the UK. Through the crisis, it’s always worth double-checking that you’re getting a fair deal from your energy supplier. If you work out that you’re paying more than you need to, it’s easy to switch to another supplier and access a better rate.

  1. Change your spending habits

Big spender? While it might be tempting to go on a little bit of a spree each month as a treat when you get paid, that’s not the best approach if you’re serious about saving money. As soon as your monthly income lands, you should transfer a sizeable amount into your savings account and leave only what you need to live on.

  1. Ask about an arranged overdraft

If you’re confident that you could pay funds back into your current account, it could be worth asking your bank about an arranged overdraft. Not only could this indirect form of borrowing improve your credit score, but it could also give you peace of mind that you’ll never incur unexpected fees for accidentally dipping below zero.

  1. Consolidate your debts

Debt consolidation means paying off a loan by taking out another one or using a credit card. It’s not always a good idea, but if you’re near payday and the benefits outweigh the risks, it could be a fast and effective solution in clearing anything against your name from the first lender.

  1. Sign up for loyalty schemes

From supermarkets to luxury department stores, so many businesses in the UK incentivise customers with a loyalty scheme. The new paid loyalty scheme by M&S could set the precedent for other major retailers, so it’s always worth shopping around to find out which tips and tricks might save you the most money. From a Nectar card to a Tesco Clubcard, there are so many loyalty schemes designed to help you save.

  1. Cancel needless direct debits

Do you use your gym membership? If you’re still paying for subscriptions and monthly memberships that you barely use, it could be high time to direct the money elsewhere. Saving just £15 each month is £180 over one year, so the potential savings could be massively beneficial.

  1. Use discount codes and vouchers

By using dedicated sites and new customer discount codes, you could save money on online orders. Make the most of one-off offers and try to use new websites as often as possible – and take advantage of repeat custom deals too.

  1. Start meal prepping

Lastly, preparing your meals throughout the week could save you some cash too. Spending money on supermarket meal deals and food from cafés adds up, and you could be surprised to see how much you could send to your savings account instead.


Saving takes commitment, patience, and perseverance, but your efforts will be worth it sooner than you might expect. If you have any urgent concerns about debt and money, don’t hesitate to seek advice from Citizens Advice, your bank, or a trusted friend.