Money-saving tips: Experts share 23 savings hacks for 2023 – ‘knock £20 off energy bills’ | Personal Finance | Finance

Consumer experts at NetVoucherCodes.co.uk have identified useful ways to save money by completing monthly saving challenges as well as advice on how to knock hundreds of pounds off holiday expenses.

NetVoucherCodes.co.uk has shared 23 money-saving hacks for 2023 including:

“Start the year off by investing in a digital budget planner so you can visually track how much you’re spending and in which areas. This way you can monitor which outgoings can be cut down to help save hundreds off your monthly budget.”

“Having the physical amount in front of you can let you see clearly how much is being spent on gas and electricity. It means you can knock £20 off the electric bill if devices that aren’t being used are still turned on.”

“A savvy way to earn extra cash in the new year is to earn more and spend less by starting a side hustle. This can simply be done from home whether it’s selling clothing on apps or completing free online surveys to earn rewards.”

“Social media giveaways are also an easy way to grab a freebie. While it’s all down to chance, it’s worth doing as the only effort you’ll likely be putting in is following the company’s social page and tagging a friend in the comments.”

• Set measurable savings goals

“While it’s great to save as much as possible, don’t just throw everything into savings only to realise there’s not enough money left to pay for the bills. Be reasonable with how much you can save and by putting aside a steady amount to start with.”

• Book free cancellation trips

“Booking free cancellation trips can provide extra insurance to get money back on a cancelled trip. This can be extremely helpful if there are ongoing strikes over the course of 2023 that could impact you getting to your destination.”

• Sign up for email subscriptions

“Even if they end up in your junk mail, it’s worth signing up for email subscriptions every time you purchase an item online, as you can be offered exclusive free items or early discounts before they go live to other consumers.”

• Freeze leftovers from Sunday roasts 

“Freezing food and meal prepping is always a handy way to save on food costs. With prices set to rise again in the new year, it’s also worth saving the leftovers from a Sunday roast and batch-cooking them into lunches for the rest of the week to save a few quid.”

“A popular TikTok trend from 2022 is one to follow through in the new year. When the monthly wage comes through, allocate 50 percent of it on bills and essentials, 30 percent on leisure and 20 percent on savings.”

“When buying a large purchase item, pay for it on finance or directly by credit card to build up your credit score. But only do so if you can realistically manage to fit the payment into the monthly budget.”

“Dedicate one weekend a month where you’re going to have a spend-free weekend, where you can go for long walks in the park, get crafty in the kitchen with existing cupboard ingredients, or even just settle down and binge-watch a new TV show.”

“A fakeaway is always a delicious budget treat to have on a Saturday night. Fried chicken and homemade pizzas might take a little longer to make but the rewards are just as tasty.”

“Write down different amounts you’d like to put into your savings on separate pieces of paper and put them into a bowl. Every Sunday, draw out a different amount to determine how much money you will be putting into your savings that week. This is a great way to save little and often, just remember to keep it realistic!”

“Often many find themselves accidentally paying too much tax, which can be reclaimed on the Government website. Even if it’s £30 – it’s still worth a look.”

• Take part in free subscription trials 

“Brands offer freebies by signing up for subscription deals, whether it’s entertainment packages or beauty products. These can often be cancelled shortly after, so make sure to do so to prevent being charged.”

• Stick to non-branded foods

“These can cost nearly 50 percent less compared to other products even if there’s a lack of difference in price and quality. Veggies and meats often taste the same so it’s worth investing in the non-branded versions to cut down on weekly meals.”

• Put locks on banking pots

“Virtual banks often allow for savings pots to be locked and only accessible on certain dates. Having the visual lock on display can help prevent the temptation of taking cash out on a frequent basis.”

“Don’t just stick to the budget for January and forget about it for the rest of the year, make it a personal goal that you’ll stick to the saving targets so that the rewards will be greater by the end of next year.”