15 simple life hacks that could save you hundreds of pounds

6 October 2020, 14:56

Promoted by Bounce

From trying out a new supermarket, to having a clear out of your loft, check out these simple ideas to see how you could start saving.

At Bounce, we are all about helping you to save money in smart ways.

And we have found 15 simple changes you can make to help your start doing just that. From trying out a new supermarket, to getting to know your use-by dates, and checking out what benefits your place of work might be offering, here are some simple ideas you could adopt to start saving more.

1. Switch off the TV 📺

   

   Having the TV on constantly can burn through electricity, causing excessively high energy bills.

   Try turning the TV off when you’re not really watching it and opt for a radio or smart speaker for a bit of background noise.

   The same goes for lights in rooms you’re not using!

2. Get to know what “use by” and “best before” really mean

   

   Just because food has passed the date you see on the package doesn’t mean it has to go to waste. Certain foods can last well beyond this and still be safe and tasty.

   Also – there are many items you can freeze to extend their life, such as chocolate, cheese or bread.

3. Try a new supermarket 🛒

   

   Don’t just stick to one grocery store every week. Check out other options in your area to find a store with the best prices based on your weekly shop.

   This could also mean making two stops – for example, grabbing fresh produce from the local market, and the rest of your food from a supermarket.

4. Buy a Railcard 🚂

   

   If you’re planning on exploring the UK by train over the next few months, it’s a great idea to buy a Railcard.

   There are a number options based on your age bracket – all of which result in considerable savings, even if you’re only using it occasionally.

5. Eat out to help out 🍝

   

   Even in October, a selection of restaurants across the UK are still offering half-price meals from Monday to Wednesday, in a continuation of the ‘Eat Out To Help Out’ scheme.

   So whether it’s date night, a family dinner, or catching up with an old friend; make it happen early in the week.

   Plus, by doing so you’ll be helping out the UK hospitality industry.

6. Take advantage of your work benefits 🎁

   

   If you haven’t already checked out your employee benefits, now’s a good time to do so.

   Depending on your employer, you could be eligible for cycle to work schemes, healthcare and dental plans, gym memberships, and plenty more – most of which are there to help to save money.

7. Payday planning ✏

   

   Just been paid? Planning your monthly spending now is crucial to a successful month of saving.

   Start by putting money aside for all your expected bills and expenses, and decide how much you want to put away into savings. Most importantly, resist splurging out on payday!

8. Don’t splurge on payday 🍔

   

   Deciding to treat yourself on payday is difficult to resist – that’s why it’s important to have a plan. Make use of savings pots and ensure you've got a good idea of where your money is going before it arrives.

   If you can’t trust yourself, plan a small amount you can spend on whatever you like once pay arrives!

9. Review your direct debits 💸

   

   With a regular review of your bank statements, you can identify charges you may have forgotten about or don’t need anymore.

   Subscriptions, memberships, donations, premium plans, bad deals – these are the key areas you should look to review.

10. Round up your purchases ⤴

    

    With digital banking (like Monzo) or AI assistants (like Plum) there’s a tonne of handy money-saving capabilities. One of our favourites is the round-up feature.

    For example, if you buy a coffee for £1.60, they’ll round it up to £2, add 40p to a separate money pot or savings account. You’ll be surprised how fast it adds up.

11. Check for new customer offers when shopping retail 🛍

    

    With retail stores now reopening, it’s good to remember that almost all high-street stores will have some kind of discount for new customers.

    Often all you need to do is sign up to their newsletter, download their mobile app, or create an account.

12. Clean out the loft 📦

    

    Assess which items you can part with and convert them into savings. With so many online and offline marketplaces, there's always going to be someone interested in what you have to offer.

    And if you're struggling to sell (or don’t have time to list everything), there’s plenty of places that will accept your donations.

13. Track your expenses 📊

    

    Visualising where your money’s going is the first step to making key adjustments in your spending habits.

    Once you’ve got it all laid out, pick a few expenses that you aim to reduce or cut out – you'll be surprised to see how quickly those little reductions add up!

14. Hide your loose change 💰

    

    Starting a piggy-bank for all your loose change (maybe even a few fivers) is a tried and tested method for building up savings.

    Set yourself a date and a reason for cracking it open, and stick to it. For example:

    
    🍔 paying for dinner once a month
    👟 treating yourself after 6 months
    💵 adding to long term savings at the end of the year

15. Switch energy suppliers

    

    Finding a better deal on gas and electricity can save you hundreds over a year – users who switch with Bounce save an average of £383* annually.

    Visit the Bounce website today to get your free energy report, and make the switch if you find a better deal – it takes all of 5 minutes!

    *Average savings per user where a switch is expected. Data retrieved from March 2020.

Click here to find out how much you could save with Bounce today.