7 Long Term Tips for Saving Money & Cutting Down Expenses

How many of us have outgoings for things we rarely even use? Or are paying for services which increase in cost slightly every year without us really knowing why? Guilty.  

By looking at some of the monthly direct debits we have, as well as being slightly most savvy in certain areas it’s easy to save hundreds each year. And of course, it’s always worth checking out our freebies to see where you could save some money too.  

We break down of the best long-term money saving tips below. 

 1. Insurance  

Insurance is one of those things which if you don’t check it, is likely to go up year after year. Most people regularly check if they can get a better deal on their car insurance but the smaller monthly amounts such as home insurance, or even life insurance often just keep on ticking over.  

Even if you haven’t claimed on your home or contents insurance, in many cases these amounts will increase slightly every year, with us usually just receiving a letter detailing the amount. Whilst this may only be by a few pounds every month, over the course of the year it adds up, especially if it’s been gradually rising over the past 5 years.  

If you review any of your insurance payments, chances are you’ll find a better deal elsewhere and even if you don’t want to leave your current provider, many of them will match the rate you’ve found just to keep your business.  

savings tips

2. Utility Bills 

It pays to check your utilities bills every year and see if you could be saving money elsewhere. With so many new companies popping up, it’s easy to make a saving and some companies will even offer large incentives to move to them.  

Setting yourself a reminder to provide a monthly metre reading is another great way to make sure you’re not overpaying, or underpaying which could lead to a large bill at the end of the year. 

money tips

 3. Loyalty Cards 

Store loyalty cards can often see like a bit of a hassle to set-up, but in reality it often take less than a few minutes to do. Loyalty cards for the supermarket you usually go to are the best ways to save money, with loyalty cards such as Tesco’s club card saving you money on everyday items, as well as giving you money off vouchers.  

4. Money Back  

If you often buy things online, money back websites such as Quidco can save you a huge amount, with the website claiming members earn, or save an average of £300 per year from using their service.  

Money back sites feature everything from well-known household brands to food delivery sites such as Deliveroo, giving you back up to 25% of the amount you’ve spent. It even offers money back on broadband deals and insurance cover, so it’s well worth signing up to.  

5. Check your subscriptions 

Just like with insurance, subscriptions often increase slightly each year and with so many of us paying different amounts for various streaming websites, are we really getting value for money? 

If you’re paying for multiple streaming sites, it’s worth assessing whether you really need them all, especially as so many of the programmes they feature now cross over on to different platforms.  

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6. Freeze everything 

Have things in the fridge but don’t actually have a meal planned to use them for? That’s where freezing comes in. The majority of our refrigerated items can be frozen, so even if it’s as small as some tomatoes, popping them in the freezer and adding them to a sauce at a later date helps to minimise waste and reduce food costs in the long term 

7. Taste Card 

If you frequently eat out at well-known restaurants then a Taste Card is a no brainer. It costs £35 for the year but it gets you 50% off at hundreds of well-known restaurants so it quickly pays for itself and saves you money.  

At the time of writing, they’re offering a free 60 day trial so with indoor dining set to open back up soon now is a great time to try it and test how many you use it. If it’s a couple of times a month then an ongoing subscription should definitely be added to your list.  

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