Britain's top 25 money-saving tips
Britons love a bargain and the sense of satisfaction that comes with saving ourselves a few quid. But are you secretly savvy or do you like to share the wealth?
Fortunately, most seem to be the generous type, with 70% of us happy to share money-saving tactics with friends and family, while 27% admit to keeping their vouchers and other money-saving tips to themselves, a survey by GoCompare has found.
The research also revealed that women are savvier than men as 97% of women actively use money-saving tips, compared with 94% of men.
From the survey finding, GoCompare has compiled the following list of Britain's top 25 money-saving tips, which it says can save us all £530 a year on average.
Is your best money-saving tip listed? If not, share it in the comment box at the end of the article.
Top 25 money-saving tips
1. Use vouchers, coupons, money-off apps to get discounts
2. Take a packed lunch to work
4. Turn the thermostat down to reduce heating bills
5. Use loyalty and cashback schemes
6. Cut down on takeaway meals
7. Do more home cooking and batch cooking
8. Keep a coin jar and save change
9. Take your own treats to the cinema
10. Plan meals, make a shopping list and stick to it
11. Cut out takeaway coffee/coffee shop treats
12. Don't impulse buy - sleep on it
14. Buy second-hand instead of new, use sites like eBay or Freecycle
15. Never grocery shop on an empty stomach
16. Draw up a budget and stick to it
17. Don't use a tumble dryer
18. Review your satellite or cable subscription or cancel it altogether
19. Switch to a cheaper supermarket
20. Leave the car at home and walk or use public transport
21. Review your mobile phone contract or come off a contract altogether
22. Cut up your credit cards
24. Review your gym membership or cancel it and train outdoors
25. Only use cash - not cards.
Used by the holder to buy goods and services, credit cards also have a monthly or annual spending limit, which may be raised or lowered depending on the creditworthiness of the cardholder. But unlike charge cards, borrowers aren’t forced to pay the balance off in full every month and, as long as they make a stated minimum payment, can carry a balance from one month to the next, generating compound interest. As the issuing company is effectively giving you a short-term loan, most credit cards have variable and relatively high interest rates. Allowing the interest to compound for too long may result in dire financial straits.