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15 ways to save money in 2015

5th January 2015 Print

Vouchers, money off apps, shopping around for insurance, cutting down on takeaways, switching energy provider and down-shifting supermarkets – just some of the ways UK consumers plan to save money in 2015.

Just under half (48%) of Brits plan to use discount vouchers, coupons and apps to save money in 2015, while 43% will use loyalty and cashback schemes to reduce their outgoings according to a new survey released today.  

The survey into the nation’s thrifty tips for 2015 also revealed that many people will try to stretch their household budgets by shopping around for a better deal on a range of goods and services from insurances to grocery shopping and energy bills:  

Rank - Top 15 money saving tactics for 2015 - %

1 Use vouchers, coupons, money off apps to get discounts 48

2 Use loyalty and cashback schemes 43

3 Shop around for cheaper car insurance 31

4 Shop around for cheaper home insurance 30

5 Turn the thermostat down to reduce heating bills 30

6 Cut down on takeaways and ready meals 28

7 Switch energy provider for a cheaper tariff 27

8 Switch to a cheaper supermarket 26

9 Cut out takeaway coffee/coffee shop treats 26

10 Draw up a budget and stick to it 26

11 Reduce the amount spent on holidays 19

12 Review or cancel satellite/cable TV subscription 17

13 Leave car at home and walk or use public transport 15

14 Review or cancel mobile phone contract 13

15 Transfer all credit card debt to a 0% card 8

The survey, commissioned by comparison website, Gocompare.com also revealed that many are continuing to experience a ‘cost of living crisis’ with 15% admitting to being seriously worried about their finances and 8% saying that they have to rely on credit cards to make ends meet. The survey also found:

34% of those surveyed said that they needed to reduce their outgoings in 2015;

17% tend to run out of money before the end of the month;

13% expect to have a credit card debt for most of 2015.

Matt Sanders, money spokesperson at Gocompare.com, commented: “Our survey suggests that many people will be looking for ways to make their money go further in the New Year – from taking advantage of discounted and cashback offers to shopping around for better deals on a wide range of products and services.  

“Simply changing the supermarket where you do your weekly food shop or switching to own brand products can help to reduce your grocery bills, while using a comparison website to shop around for a better deal on your energy, insurance policies, credit cards and mortgage can save you hundreds of pounds on essential outgoings. For example, Gocompare.com customers could save up to £234 on their car insurance, £215 on their energy bills and £158.43 on their home insurance.”