Cost of living: Three tips to save money on energy bills
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The cost of living crisis has left millions of people worse off financially as food and energy prices are eating into people’s disposable income. While many Britons will have to cut back this festive season, there are ways to make sure budgets stretch further and save money on Christmas shopping.
Signing up to cashback sites could help people save hundreds on their Christmas shopping bills but not everyone is taking advantage.
Dad of two, Lee Chambers told Express.co.uk how he first heard about cashback sites years ago but only tried them when he was forced to move back in with his parents.
The first time he tried it he made £200 in savings “in just a few clicks” – over the years he’s raked in an extra £25,000 and he’s got the receipts to prove it!
Lee said: “I do all my renewals by cancelling and buying a new policy with cashback for things like energy, insurance, mobile, TV, broadband and car breakdown cover.”
He continued: “For me, it’s made my Christmas spending more sustainable and even helped me when I’ve been a bit short.”
Another way to save money and spread the cost of Christmas next year is to consider signing up to a savings scheme.
People can make regular monthly payments from the start of the year and will receive vouchers to spend on food, drink and gifts in time for Christmas.
Personal finance expert Salman Haggi told Hull Live: “Some current accounts will offer discounts or cashback when you spend at specific shops.”
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She continued: “Check if you can get discounts with your current account.
“If your current account doesn’t offer any benefits, you might want to consider switching to a more competitive account.
“Many banks will also offer an initiative for you to switch, like a lump sum of cash.
“These can help you save money on your spending this Christmas.”
It’s also considered to be a good idea to sign up to emails from shops where people frequent in the weeks leading up to Christmas.
Lots of companies send notifications for things such as discounts, free delivery and in-store promotions, especially if customers have been inactive to lure them back.
Dedicating one day to Christmas shopping is also one way to save money as it limits the risk of panic buying.
This could be any day, however dedicating this day to Black Friday or Cyber Monday could help people save even more.
Other options include:
- Playing present roulette
- Signing up for email lists for shop discounts
- Christmas cashback
- Dedicating one day to Christmas shopping
- Buying second-hand
- Planning ahead
- Tracking your spending
- Checking if a person can get discounts with their current account.
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