Top 10 Easy Money Hacks to Save You Money
Created on 23 Jan 2025
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Updated on 28 Jan 2025
UK inflation rates are at a record high with families across the country facing a sharp increase in living costs. From rising energy bills to the weekly food shop, families are feeling the squeeze more than ever. And if you’re about to move into civvy street, it can feel even more daunting with the stark news warnings and the uncertainty around living costs. But small, simple changes can make a huge difference, so have a look at our top 10 easy money saving tips to set you on the right track.
Have a No Spend Weekend
Try and do this at least once a month and you will be surprised how much you can save. Use the leftovers in the fridge, look for free family activities, movie nights, binge watch a TV series - even dig out the board games!
Take the 1p Challenge
This involves you basically saving 1p a day across the whole year, with savings of around £660! You start with 1p, the next day 2p, the day after 3p….on the final day you will set aside £3.65. Print off a chart here to get you started if there are a few apps that will help you track your progress.
Meal Plan - and buy the odd looking fruit!
Saving on your weekly shop can make a huge difference. Shop around to find the best prices - places like Aldi, Lidl and Morrisons tend to come out on top of the less expensive but still great quality food. Simple changes like sticking to a shopping list, buying the loose funny looking vegetables and fruit, setting a budget and meal planning can make small but long-term savings.
Track Your Spending
Use your organisation skills to whack out a spreadsheet or budget tracker of all your incomings and outgoings and see where you can save. There are also a number of budget apps and money saving apps that can help you increase your savings.
Price Match
Compare everything to make sure you are getting the best price! Energy bills in particular can differ hugely, so if you use uswitch for example, they will compare the best deals for you. More general websites comparing insurance and household items - Compare the Market and Which? are other good examples.
Review Your Debts and Make Priority Payments
If you have any personal loans or credit cards, have a good look at the interest rates and also how long you have left to pay. See if you can prioritise your debt - try and pay off the debt with the most interest rate for example, and see how different that could make to your finances each month.
Look at Debt Consolidation
If you have multiple debts, a debt consolidation loan may help you bring them all together and create a clear repayment plan. There are organisations offering debt consolidation loans for veterans - and serving personnel and their families, such as First Defence Finance.
Cut fuel costs
Easier said than done right? Fuel costs are crazy at the moment but you can save if you’re savvy - comparing prices in your area, taking advantage of loyalty card schemes - Sainsbury’s Nectar Reward Card for example and making sure you regularly check the tyre pressure in your car can all make a difference.
Search for Military Discounts
There are a number of military discount schemes from Blue Light Card to Defence Discount Services which can help you and your family save money on pretty much everything! Check out our military discount blog post to see where you can get some great deals.
Check What You Are Entitled To
You could be entitled to benefits or financial assistance depending on your circumstances so make sure you get the right help if you need it. Read our financial support page to find out more.