With the general cost of living becoming eye-wateringly expensive, energy prices soaring 54% since April and many of us exploring all the ways we can avoid ‘the big squeeze’, we know how important it is to save money in every area possible.
At SO-SURE, our mission is to use technology to make things smoother, easier and more cost-efficient. We do this by using technology to lower premiums and reduce customers’ excess. And, we offer additional value, by giving money back to responsible customers at the end of every policy year.
Well, that’s insurance covered. Here are a few top tips on how you can save money in other areas too:
1. Switch off stand-by
Did you know that households could save a whopping £147 a year, just by switching their electronic devices off by the mains when not in use, instead of leaving them on standby? Experts have said that the simple act of turning off ‘vampire devices’ (devices that drain energy even when not switched on) could make some very useful savings year on year. Don’t worry, almost all electrical devices can be turned off at the mains without affecting their programming but check beforehand if you are concerned.
2. Track your spending
The key to managing a budget is tracking what you spend and there are many ways to do this with different methods working for different people. Many banking apps now offer instant alerts, that tell you how much you spend and at which place. It’s worth turning these on, to get yourself used to being aware of your spending. Setting a budget and trying your best to stick to that is also a great way to only spend what is absolutely necessary. There are many apps for budgeting and tracking expenses such as Emma or Plum that can you help you on your way.
3. Try supermarket downshifting
We all have our favourite shopping staples and swear by the taste of specifically branded teabags, cereals and sauces but making smart food swaps can save £100s on your shopping. You may even find that using a supermarket’s brand tastes very similar if not the same as your favourite premium brands. It’s making these little switches (or downshifting as it’s sometimes called), that can save pennies on the small items and big pounds overall.
According to Money Saving Expert ‘Downshifting typically cuts grocery bills by 30%. Even if you only swapped half the items, that’s still a 15% saving, which could be worth £100s or £1,000s.’
4. Do some switching
Auto-switching (also known as automatic switching), is a simple way to keep costs low when managing household bills for everything from gas to insurance! Although energy costs have reached an all-time high, using auto-switching can be a great way to find lower rates within this current climate. Switching has never been easier. With many auto-switching sites now available, all you need to do is sign-up and they do all the heavy lifting for you, switching you over to the best provider every year.
5. Shop online in private
Did you know that going incognito when you shop could save you money? Well. In many industries such as travel, companies will use cookie and tracking data to monitor which IP addresses are looking at which websites and how often. Using this information they have been known to increase the price of things such as flights based on a user’s interest. If you shop using private browsers, you have no online history and so you look like a new website visitor each time and should see original lower prices. Keep this in mind when planning your next holiday!