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Top money saving tips

Top money saving tips

Category: Money Saving

Updated: 30/10/2013
First Published: 30/10/2013

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

As households gear up to face yet another round of winter fuel price hikes, has come up with five top tips to help you cut your spending.

1. Switch to a cheaper gas & electricity tariff

If you're facing higher gas & electricity bills due to winter price hikes why not find out if you can switch to a cheaper deal.

Research shows that you could save up to £320 per year by switching gas & electricity supplier, so compare tariffs now.

2. Find a bank account that pays you for switching

Both first direct and Halifax are paying new customers £100 if they open one of their current accounts as long as certain conditions are met, such as paying in a minimum amount each month and switching over at least two direct debits.

On top of this, Halifax will pay you £5 every month as long as you fund the account with at least £750 and stay in credit.

Remember, the new Current Account Switch Guarantee has made it easier and faster to switch bank accounts than ever before. The process will now be completed in seven working days or less, while you will be compensated for any charges you incur as a result of the process.

Compare bank accounts.

3. Earn cashback for spending

Cashback credit cards can be a great way to earn tax-free cash rewards on your spending and, if managed efficiently, can offer a host of benefits.

They are best suited to regular card users who are able to pay off the balance in full each month – otherwise you risk cancelling out any cashback benefits because of high interest charges.

American Express is offering an introductory 5% cashback on purchases for the first three months – capped at £100. After this customers will earn 0.50% on spends up to £3,500 per year, 1.00% on spends between £3,501 - £7,500 per year and 1.25% on spends over £7,501 per year.

Compare cashback credit cards.

4. Pay off high-interest debts

Debts that charge relatively high interest rates can eat into your budget each month. If possible you could consider transferring your debts to a 0% balance transfer credit card.

Currently Barclaycard offers the longest 0% balance transfer credit card deal – at an impressive 30 months. This means you'd have over two years to pay off your debts.

Read our guide on 11 Steps to get debt-free in 2013

Find out how to get out of the overdraft cycle

Compare 0% balance transfer credit cards.

5. Cut the cost of Christmas shopping with voucher codes and offers

Christmas is just around the corner, so why not cut the cost of this year's spending by searching through our voucher section to find the hottest offers from the UK's high street and online retailers?

Simply use our search box to find the latest deals.

A selection of the top offers currently available:

  • The Body Shop: 40% off everything in store and online, including sale items (expires 5 November).
  • Hotter Shoes: 10% off first orders plus free delivery.
  • Thorntons: 50% off winter chocolate collection and 3 for 2 on gifts.
  • Toys R Us: Free £15 gift voucher when you spend £100 or more (expires 4 November).
  • Funky Pigeon: Up to 50% off selected cards (expires 19 January).
  • Dorothy Perkins: up to 85% off in the sale.
  • Joules: £30 off when you spend over £100 (expires 11 November).
  • Tesco: Blu Rays from £3 and up to 50% off in the sale.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.