How to Save Money in the UK

Struggling to budget? Want to save money on your bills? Food? And more? Fablious finds you the best ways to save money.

Your Options for Stretching your Budget

BillBuddy

BillBuddy

Look After My Bills

Look After My Bills

Pockit

Pockit

How to Save Money in the UK

If you’re concerned with improving your finances, fear not, there are different ways you can save in your day to day life. From saving money on your food shopping to helping you to cut the costs of your bills and monthly expenses. Here are just a few tips and products to help you to conserve money.

 

At Fablious, we understand that saving money can be difficult. So that’s why we’ve selected some of the best money-saving products in the industry to help you reach your money-saving goals.

Fablious’ alternative finance community members can help you cut costs on bills, get great discounts, open current and savings accounts and so much more! Take back control of your personal finances by learning to save money. Whatever your money-saving needs, we compare products to have your needs covered.

BillBuddy

BillBuddy is an excellent way to save money on your energy bills. By comparing offers from multiple energy providers, you’re able to see how much you can save on your bills. BillBuddy then takes care of the rest by switching you to the cheapest tariff available, which could save you hundreds!

  • Customer Service: With BillBuddy’s instant messaging system, there is always help at hand should you have any questions or problems – making it the ultimate customer experience.

  • Personalised Offers: BillBuddy has great money-saving offers that are designed specifically for you in mind – helping you save even more money!

  • Suppliers: British GasEDF EnergyE-on and many more.

You can cancel your BillBuddy membership at any time should you wish to do so. For more information on how to cancel your subscription, any costs associated with cancellation and refund policies, visit their Frequently Asked Questions page.

Look After My Bills

Look After My Bills takes the hassle out of shopping for energy providers by doing all the work for you and finding you the cheapest deal on energy bills.

  • Best Deals on Bills: Using their advanced algorithms Look After My Bills does the comparing for you and is able to find the best deal on energy bills on the market.

  • Automatic Switchover: When your original deal is about to end, the algorithm automatically switches you over to the next best deal, meaning you’ll always be getting great money-saving deals on your energy bills without having to do a thing!

  • Hassle-Free: All you have to do is sign-up to their simple form and join the other 200,000+ members who are already using Look After My Bills to cut costs. You can rest easy knowing that you’re getting the best value for money on your bills, without even having to lift a finger.

  • Energy Suppliers: British GasScottish PowerGreen Star Energy and many more.

You can cancel your Look After My Bills membership at any time should you wish to do so. For more information on how to cancel your subscription, any costs associated with cancellation and refund policies, visit their Frequently Asked Questions page.

Pockit

Pockit is an outlet for those who want a current account but have been ignored by the high-street banks. Opening a Pockit account only costs £0.99 and you can use your new account straight away, with your contactless card arriving within 2 days.

  • Track your spending: The Pockit current account includes several money-saving features, such as being able to track your spending and manage your money on the mobile app.

  • Cashback: You’ll also be able to receive up to 10% cashback when you use Pockit at certain popular shops and restaurants!

  • Upfront: TPockit’s upfront and honest nature, means that there are no hidden fees or fees when you transfer money, so there are no nasty surprises!

  • Cashback Partners: M&SJD SportsPizza Express and many more.

Monese

Monese is a fantastic alternative for those who want to set up a current account, but are tired of traditional banks taking too long. Monese was built on the ethos that banking should be quick and easy for the customer and available to everyone. This means there’s no credit checks or UK address required. With the basic account, it’s also free to sign-up!

  • Take Control: The Monese banking app allows the user to take control of their finances by providing an instant balance to help keep track of spending and to save money.

  • Real-time Updates: Monese’s ‘Instabalance’ feature, gives you a real-time update of what you’re spending which makes budgeting super straightforward.

  • No Overspending: Using a Monese current account means that you can’t overspend, so there are no bills to take you by surprise at the end of the month.

  • Monese Accounts: Basic Accounts, Classic Account and Premium Account.

Yolt

Yolt is leading the way in open banking in the UK. It’s easy to use interface puts an end to juggling between multiple banking apps and allows you to see all your bank accounts on one single app.

  • Outgoings: With Yolt you can see all your outgoings in one place, meaning that it is easier for you to keep track and budget over a range of different accounts.

  • Set Goals: Yolt offers an excellent way to set money-saving goals, meaning that you can save across all of your accounts smoothly and without hassle.

  • Free: Yolt is free to sign up to and to use. Meaning you can cut costs without having to pay a penny!

  • Supported Banks: NationwideHalifaxBarclays, and many more.

You can cancel your Yolt membership at any time should you wish to do so. For more information on how to cancel your subscription, any costs associated with cancellation and refund policies, visit their Frequently Asked Questions page.

Curve

Curve allows you to spend money from any account you want using just one Curve MasterCard. It’s essentially a super card. Upload your bank accounts to the Curve App and you’ll be able to spend from whatever account you choose, all from the Curve Mastercard.

  • Go Back in Time: This feature means that if you paid for a product using the wrong card in the last 14 days, you can switch to the card you intended to use for purchases up to £1000.

  • Curve Cash: This reward programme allows Curve users to earn 1% instant cashback at a retailer of their choice from a list of over 100 retailers. Helping you to save money on food, clothes and travel.

  • Choose your plan: Curve offers a range of card plans, from the no-cost ‘Curve Blue’ to the premium ‘Curve Metal’. There’s a curve card plan out there for everyone!

  • Curve Cash Retailers: Nando’sRiver IslandAmazon and many more.

Wowcher

Wowcher is the ultimate money-saving site, bringing you the best deals on anything and everything! With its unbeatable prices, Wowcher offers new deals every day – meaning there’s a constant stream of deals being refreshed daily! Wowcher offers deals on electronics, travel, spa experiences, garden furniture and so much more!

  • Gift Finder: Use Wowcher’s gift finder to filter price and categories to discover the perfect gift that your loved ones will adore!

  • Wowcher VIP: Wowcher’s VIP section offers the most exclusive deals but all at a reasonable price. So, save money on the greatest experiences and make amazing memories!

  • Tailor to your Location: Look for a gift that is tailored to your location, and find loads of opportunities as close to home as possible!

Groupon

Find the best deals with Groupon and save money on a whole variety of products, all at an affordable price. Groupon offers a whole range of deals allowing you to save money on food and drink, city breaks, home appliances, clothes and much more. Groupon allows you to try new experiences all for a bargain price!

  • Find Deals Anywhere: By putting in your location or any location, you’ll be able to find a Groupon deal anywhere in the world, giving you more variety than ever!

  • Discount Codes: Groupon has a long list of discounts codes that can be used for Dominos, Tesco, Asos and a whole selection of more options to choose from!

  • Gift Section: Groupon has a whole area dedicated to gifts. So, if you’re looking for something romantic, a birthday present or maybe something personalised, Groupon has you covered. It’s the perfect way to show how much you appreciate somebody!

FREQUENTLY ASKED QUESTIONS

FAQs

Saving money can be difficult, especially if you’re already on a tight budget. If you want to save those pennies to better your finances or pay off debt, here are some top tips to help you with your money-saving journey;

  • Set yourself a budget and stick to it
  • Look at ways to cut down on spending
  • Pay off your debts
  • Get rid of any bad spending habits
  • Be more energy efficient
  • Stick to your shopping list
  • Have no spend months
  • Sell your unwanted items
  • Earn ‘free money’
  • Look at cheaper alternatives
  • Make saving a priority
  • Take part in mystery shopping tasks
  • Set yourself savings challenges

Set yourself a budget and stick to it:

Having a budget is a great place to start when it comes to saving money. Budgeting allows you to see where your money comes from and where it goes and can help you to understand areas where you can afford to cut costs. You can use an excel spreadsheet or a budgeting app to monitor your incomings and outgoings.

Look at ways to cut down on spending:

Once you have set yourself a budget you can look at different ways you can cut back. For instance, if you find yourself spending too much on your weekly food shop, then why not look at switching to own-brand products, using price comparison sites for car insurance deals, using cashback sites or buying train tickets in advance to help start saving.

Pay off your debts:

If you want to be better at saving money, then you’ll need to pay off your debts as a priority. Outstanding debts, including missing and late payments can mean that you’re racking up high-interest rates in addition to the money you borrowed. However, if ensure that you pay off your debts such as personal loans and credit cards. If you have trouble remembering when your repayments are due, set up a standing order with your creditors.

Get rid of any bad spending habits:

Are you an impulse shopper or do you find yourself going online shopping when you’re sad? Or perhaps you find yourself needing the latest gadget, only to discard it soon after. Analyse your bad spending habits and try to work on them. Your bank account will always thank you in the long run.

Be more energy efficient:

Making small changes to your home and your habits to become more energy-efficient can benefit your finances in the long run. Turning televisions off instead of onto standby and making the switch to energy-efficient lightbulbs and insulating your home properly will allow you to be more green while still saving you money on bills.

Stick to your shopping list:

Supermarket shopping can be tempting. In fact, a lot of supermarkets are designed and laid out in order to entice you to purchase new and in some cases, more expensive items. If you write your shopping list before you go grocery shopping and stick to it, you’ll be sure to get everything you need without wasting your money on other unnecessary items.

It may also pay off for you to sign up for a loyalty card, that way you can collect points that contribute to deals and discounts every time you shop!

Have no spend months:

Treating yourself and having a little bit of a spend up once in a while isn’t always a bad thing. However, if you’re trying to stick to a budget and get more from your money, a great money-saving tip is to try out no spending months. This entails you to choose a month where you only purchase the necessities, including bills, food shopping and toiletries.

Anything else will have to take a back seat until the following month. This will deter you from making unnecessary purchases and enabling you to think about whether you need the item or not while helping you to save.

Sell your unwanted items:

Whether it’s an old mobile phone or gift card you’ll never use again, why not consider freeing up some space and selling any unused or unwanted items you have lying around your home.

Earn ‘free money’

There are many ways for people to make money at home and online, such as being paid to do be a secret shopper or even filling out a few surveys. Make the most of your free time and earn some money any way you can.

Look at cheaper alternatives:

For the most part, there will normally be a cheaper alternative out there. Therefore if you’re looking for ways to save, look for cheaper alternatives. Whether you’re looking for a cheaper mobile phone tariff or the best deal on a new washing machine, do your research.

Make saving a priority:

If you don’t make putting money away one of your main financial priorities, you won’t be likely to get far. Instead, you should be fully committed to ensuring that you pull out all the stops to save money. If you haven’t already signed up for a savings account then you can visit your high-street bank or online bank – many banks offer a variety of savings accounts including cash ISAs, regular savers and even tax-free help to save accounts.

Take part in mystery shopping tasks:

Becoming a mystery shopper is one way to both earn money and save money while you shop, what could be better than that? All you need to do is sign up to a company who employs mystery shoppers and put yourself up for any assignments within your local area. If chosen you’ll be given a task of purchasing an item and then reporting back to the company about your experience and the item itself.

Set yourself savings challenges:

Got something in mind that you want to save up for? Well whether it be a holiday, night out or a special outfit – why not set yourself a savings challenge to help you come up with the money. Give yourself a (realistic) time frame for you to reach your goal and work towards your goal by doing challenges such as the 52 week savings challenge or try the ‘no spend’ challenge for a month!

The average household will have to account for household bills and expenses such as;

  • Utility bills
  • Shopping bills
  • Travel expenses
  • Home insurance
  • Council tax
  • TV licenses

All of these items can accumulate to a lot of money each month, and if you’re saving money, you might be wondering how you can reduce your monthly expenditure. Here are a few ways you can save on your monthly bills;

  • Make sure that you have the best tariff from your service provider
  • Compare your options to ensure that you’re getting the lowest price
  • Use energy-saving light bulbs and insulate your home properly
  • Turn off your devices if you aren’t using them, don’t leave them on standby
  • Opt to pay your bills annually, instead of paying monthly
  • Have a smart meter installed to see how much energy you are using
  • Check to see if your eligible for any discount schemes

Food is a monthly expense that we can’t live without, so how do ensure that you can still stock up on the necessities all while getting what you and your family need? Here are some expert personal finance tips which will help you to spend less money on food;

  • Buy in bulk: buying wholesale can help you to cut costs on those items you need.
  • Freeze fresh produce: freezing food for a later date can ensure that you don’t waste food.
  • Switch to own brand: supermarket own brand can be just as good but half the price of branded items.
  • Create a weekly menu and stick to it: planning your meals ahead of time will ensure that you only buy and use what you need.
  • Grow your own fruits and vegetables: growing your own fruits and vegetables is a fun family activity that could help you to cut costs.
  • Bring your own lunch to work: eating out daily can be costly, prepare your own lunch from home to avoid paying for a pricey lunch.
  • Utilise leftovers: use your leftovers for lunch or for dinner the next day to lower food waste and costs.
  • Shop in the reduced section: the reduced section can be a great way of getting food at half the price you normally would.
  • Stick to your shopping list: don’t get tempted by things you don’t need, plan your meals ahead of time and stick to the list to stay within your budget.

Why Choose Fablious?

There is all manner of different products to help you to save money that each work differently. So it’s helpful to understand the conditions of each to decide which of these products could be most suited to you.

For more products to help you cut costs and get your finances in check, you can visit our Solutions page.

Saving Money products, such as these are just one of the many alternative finance offerings that we provide here at Fablious in addition to;