Boost your savings £158 this month
Find out how tweaking your everyday routine could make a big financial difference.
Are you looking for ways to trim your household budget? Here are seven simple swaps that could save you a packet.
1. Swap dinner for lunch
If you normally meet up with friends for evening meals out, try swapping them for lunches or afternoon teas instead. Both tend to involve much less alcohol (which always bumps up a restaurant bill) and any set menu options are likely to be cheaper as well.
Estimated monthly saving (assuming two meals out per month): £30
2. Swap current accounts
Are you being charged interest on your overdraft? Perhaps you have a packaged account with a monthly fee? Swap to a free account with a decent interest-free overdraft instead.
For example, the Premier Direct account from Alliance & Leicester is free to operate and offers an interest-free arranged overdraft of up to £2,000. For the first year, it even pays interest of 5% AER on balances up to £2,500.
Visit our current account comparison tables to check out some other good value options.
Estimated monthly saving (dependent on present account and balance): £10
3. Swap the gym for a bicycle
Ditch that costly gym subscription and take up cycling instead. Check out community sites like Freegle and SnaffleUp for free bikes up for grabs; or find a cheap secondhand model on Gumtree, eBay or PreLoved.
If you start cycling to work instead of paying for public transport, you could save even more!
Estimated monthly saving: £50+
4. Swap insurance providers
When it comes to insurance, new customers are generally offered much better deals than existing ones. That’s why you should never automatically renew a policy with your current car or home insurer when your yearly cover comes to an end.
Instead, use an insurance comparison site to find the right level of protection at the lowest possible price. Doing your research and switching insurers could cut your premium by 50% or even more.
Estimated monthly saving (dependent on number of policies): £30+
5. Swap meat for pulses
Meat and fish are two of the most expensive forms of protein, so try swapping them for pulses at least twice a week. Here are some affordable recipes from the Vegetarian Society to start you off.
Estimated monthly saving (dependent on quantities): £6
6. Swap utility providers
Evidence suggests that switching gas and electricity providers could save the average household at least £150 a year.
If you haven’t compared utility prices recently, use our gas and electricity comparison tool to see if you can get a better deal.
Estimated monthly saving: £12+
7. Swap supermarket trips for online shopping
Frequent supermarket visits make it all too easy to ‘impulse buy’ unnecessary items. Try swapping these trips for shopping online and you may find the savings outweigh any delivery costs.
Grocery comparison website MySupermarket should help save you more money. It compares the price of goods at Tesco, Sainsbury’s, ASDA and Ocado, so you can keep the price of your virtual basket as low as possible.
Estimated monthly saving (dependent on quantities): £20
Adding all these ‘frugal swaps’ together, your total monthly saving could be £158 - or even more. Good luck!
**This material is for information purposes only and should not be considered financial advice. We strongly encourage our readers not to rely solely on this content, but to seek independent advice when making financial decisions.**
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