Top ten money saving tips

Whether you’re struggling with problem debt or are just looking to start saving money, the first step is knowing how much you can actually save by working out your income and expenditure (that’s the money you have coming in and going out each month). 

Using a free, online benefits calculator and grants search is a quick and easy way to make sure you’re receiving every penny you’re entitled to. This small check can ease the pressure on your monthly budget and give a much-needed boost to your household income.

Building an emergency fund is a powerful long-term money saving tip as you’ll have a goal to work towards. By having a cash reserve for unexpected costs, you can emergency-proof your budget and protect your financial future, as well as improve your outlook on money and reduce stress if a financial emergency arises. 

Now more than ever, we know that people are struggling with energy price rises. By switching energy suppliers, you could reduce your bills and ease the pressure on your household budget. The process is more straightforward than you think, and the savings could make a real difference. 

When money feels overwhelming, it can help to talk things through with someone who understands. A free CAP money coaching session gives you space to look at your finances, set simple goals and build confidence around money without judgement. 

We all have different habits when it comes to money, each with their own perks and pitfalls. Understanding our spending habits can help us find better ways to save and improve our relationship with money. With CAP’s free online money personality quiz, you can get bespoke money saving tips and advice to help you through your financial storms.

Some people find it easier to cut back on their spending if they turn it into a challenge or even a game. This can be particularly effective if you find yourself prone to impulse-buying extras that you don’t need. Why not challenge yourself to change your relationship with money through something like a no-spend week?

Financial peace of mind begins with a plan. When you take the guesswork out of your spending, you remove the heavy burden of money-related stress. A popular money saving tip is to use the 50/30/20 rule to help with your budgeting. 

Food shopping can be one of the biggest weekly expenses, so even making small changes can make a big difference. We’ve put together a simple guide to help ease the burden and make shopping easier.

It’s easy to lose track of subscriptions, especially ones that only cost a few pounds per month. From streaming services and apps to delivery passes and gym memberships, each one can add up without you realising. Take a few minutes to check your bank statements for regular monthly payments and ask yourself if you’re still using each one. 

CAP top tip! If you decide to cancel any non-essential direct debits, make sure you tell the retailer too so they cancel your subscription. 

Whether it’s money advice, problem debt or job hunting that you need support with, we can help. Simply pop your postcode in the box below to find a local CAP service near you.