Save up to £ 7,600 next year by making these simple changes to your spending
IT’S time to put together a list of money-saving measures that will give your wallet a boost in 2022.
Instead of starting the New Year with a financial hangover, wish to be more reasonable in your spending next year and you could save a bundle.
Here are 18 easy ways to get into the habit of saving. Follow them and you’ll save up to Â£ 7,692 over the next 12 months.
1) Get a train card to save up to a third on train tickets. Most cost Â£ 30 per year, but will provide an average annual savings of Â£ 142. There are nine different cards to get, including those for 16-25 year olds, seniors (over 60), couples, people with disabilities, family and friends.
2) Use the savings account which earns you 50 cents more for every Â£ 1 you put in. If you open a Help To Save account, the government pays up to Â£ 300 more each year, which is half of what you put in. people on work tax credits or universal credit and you can put up to Â£ 50 per month.
3) If you live alone, you can benefit from a 25% reduction on your council tax bill. With average bills of Â£ 2,000 this represents a saving of Â£ 500.
4) Turn your heat down a notch. About one in five UK households have their thermostat set at 22 Â° C or higher, but you could save up to Â£ 127.70 per year by lowering the thermostat by one degree.
5) It’s Free Will Month in March. By taking advantage of this program, you could save the Â£ 150 of a simple will. If you’re 55 or older, check out freewillsmonth.org.uk.
6) Change bank account. You could get paid to move your checking account. Right now Nationwide will pay you Â£ 125 if you transfer your account to the construction company while First Direct will give you Â£ 100.
seven) Your postal code could net you hundreds of dollars. Sign up for free at pickmypostcode.com and if yours is drawn you could win a daily jackpot of Â£ 200 or a host of other cash prizes.
8) Book your travel tickets in advance. A one-way ticket to London Paddington from Birmingham New Street booked today would cost almost Â£ 100, but the same trip booked 12 weeks in advance would only cost you Â£ 31. If you book six trips in advance over the next year it could save you around Â£ 400.
9) Get a credit card that pays you every time you spend. A range of credit cards offer cash back, which means you can earn as you spend. Put Â£ 500 in purchases on a cash back card every month and you could earn Â£ 108.75 in a year. But check the fees and only use if you can pay off the debt each month.
ten) Switch to a 0% credit card and pay off your debt. If you borrow Â£ 2,000 from a regular card and only pay the minimum, it will take you over 24 years to pay off and cost you Â£ 2,731 in interest. Switch to a 0% card and pay it off within two years and you’ll save Â£ 1,365 in one year.
11) Use your own mug in cafes. Taking a reusable beaker will save you up to 50 pence. If you have a daily coffee habit, you will save Â£ 130 per year. Pret A Manger offers a 50p discount, while you will get 25p off at Starbucks, Costa and M&S.
12) Loyalty pays. Sign up for all the point card schemes at the stores you use the most, from Boots to Sainsbury’s, as Which? estimates that the average buyer could get Â£ 29 a year in vouchers.
13) Save money by not throwing away food. The Too Good To Go app allows you to grab freshly prepared food from local cafes and restaurants that would otherwise be thrown away. Food bags start at Â£ 2.50 to the value of ten fresh dishes. Use it weekly and you’ll save around Â£ 390.
14) Switch to LED bulbs because they consume much less energy than traditional incandescent or halogen bulbs and thus save on your bills. For homes that regularly use six bulbs, the savings can be as high as Â£ 209 on incandescent bulbs and Â£ 135 on halogens.
15) Check discount codes before ordering take out. These free delivery incentives can reduce the cost of Deliveroo or Just Eat meals. Also check the emails for any promotional coupons you received after your last order. Ten percent off a weekly food delivery of Â£ 20 would mean a savings of Â£ 2 or Â£ 104 over a year.
16) Move your mortgage. With interest rates rising just before Christmas, anyone with an adjustable rate mortgage will have to pay an additional Â£ 15 per month on average. Switching to a fixed rate mortgage could save you a lot more money. Experian has calculated that a person with a typical variable rate could save Â£ 2,500 in one year by switching to a lower fixed rate.
17) Complete online surveys. You can earn up to Â£ 6 per survey on sites like YouGov.co.uk or PanelBase.net. Even completing one survey per week could earn you Â£ 312 per year.
18) Remove that gym subscription and use free apps like Runtastic, My Training, and Daily Workouts Fitness Trainer to help you reach your training goals. You could save up to Â£ 600 a year on gym fees.