Smart ways to save money

1. Check your benefits 

It only takes 10 minutes to see if you’re missing out. Even if you’re working or retired, you may qualify for top-ups. 

• Use our online benefits calculator
• Or ask our financial inclusion team for a full check

Even a modest increase could mean hundreds in savings a year. 

2. Make a budget you’ll stick to 

Knowing where your money goes is half the battle. 

• Use free online tools or jot it down on paper
• Go through your bank statements, you’ll spot subscriptions or spending you can cut

People who track their spending typically save 10–15% on bills and extras. 

3. Cut your energy costs 

• Switch if you can. Use comparison sites (Uswitch, Compare the Market). Direct Debit payments are usually cheapest. 
• Ask about better tariffs. Even if you can’t switch, your supplier may move you to a lower rate. 
• Check the Warm Home Discount. A one-off £150 discount if you qualify. Most people get it automatically but confirm with your supplier. 

Smart switching and discounts can save hundreds a year. 

4. Lower your water bill 

• Ask about your supplier’s Social Tariff, you could save up to 50%
• Fit free water-saving devices
• Consider a water meter if you use less than average

Read more of our energy saving tips. They could save you hundreds of pounds. 

5. Reduce your Council Tax 

• Are you a single person living alone? Get a 25% discount
• Check your band. If neighbours in similar homes pay less, you may be in the wrong band
• Apply for Council Tax Support if on a low income

6. Deal with debts early 

The average UK adult owes nearly £4,000 in unsecured debt. Don’t struggle alone, free, regulated advice is available from: 

• Citizens Advice 
• StepChange 
• Christians Against Poverty 

A proper debt plan could save you a lot in interest and charges. You can also contact our financial inclusion team. 

7. Review insurance and bills 

Loyalty rarely pays. Every year, compare the following: 

• Car, home, contents, and life insurance
• Broadband and mobile contracts

Shopping around or haggling could save hundreds across the years. 

8. Spend smarter on food 

• Switch to lower-cost supermarkets or own brands
• Always shop with a list
• Plan meals to avoid waste

You can read more about eating on a budget. 

9. Cut non-essentials 

• Cancel or downgrade unused subscriptions
• Cutting a daily cigarette habit could save £4,000 a year
• Reduce alcohol spend, alternate with soft drinks when out

10. Start a savings habit 

Even £5 to £10 a week adds up, trying to put this away for emergencies or also try the following: 

• Try “round-up” savings accounts where small change is set aside automatically
• Keep a jar for coins or use cashback rewards
• Save windfalls (like insurance refunds or cashback) instead of spending them

1. Find out what you're entitled to

Check what benefits you could claim using our handy tool.

2. Create a budget

Budgeting will show you how much money you have coming in and going out each month, help you to save and get on top of things

3. Plan ahead

Make sure all of your rent payments are up to date and try to pay a bit extra where you can to build up credit on your account. Every little bit helps and it's better to start early before a more expensive time of year like winter comes around

4. Set up a direct debit

It's one of the safest and easiest ways to pay your bills, plus you can set up the payment to come out at the same time each month, helping you to budget better. If you'd like to pay your rent using direct debit, you can set this up using My Home Account.

5. Find out about credit unions

If you're thinking about getting a loan, it's always important to think about your options and get independent financial advice. If you do decide to go ahead with a loan, remember credit unions can be a better option as they charge lower rates of interest..

6. Save money on food

Simple steps like creating a meal plan and making a shopping list so you only buy what you need can really help. Remember, bargains are only a bargain if they're on your list.

7. Speak with our financial inclusion team

Our team can give you info tailored to your circumstances, and help with things like:

• Claiming benefits
• Budgeting and saving
• Filling in forms
• Universal Credit journal updates

It's not always easy to talk about money but our team are specially trained to support you. You can have a one-off chat with them or arrange regular catch-ups to help keep on top of things.

Call them on 0345 141 4663