{"id":711,"date":"2025-04-10T15:44:26","date_gmt":"2025-04-10T15:44:26","guid":{"rendered":"https:\/\/www.drafty.co.uk\/blog\/?p=711"},"modified":"2025-04-10T15:44:28","modified_gmt":"2025-04-10T15:44:28","slug":"save-money-fast-on-a-low-income","status":"publish","type":"post","link":"https:\/\/www.drafty.co.uk\/blog\/save-money-fast-on-a-low-income\/","title":{"rendered":"How to Save Money Fast on a Low Income? (17 Best Ways)"},"content":{"rendered":"\n<p>Saving money is an essential skill that provides financial security and helps you achieve long-term goals. By trying these tips, you can reduce expenses and increase your savings. Even if you&#8217;re on a low income or tight budget.<\/p>\n\n\n\n<p>This article has tips on how to save money and improve your overall financial situation. Small changes can make a big difference.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_80 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.drafty.co.uk\/blog\/save-money-fast-on-a-low-income\/#save_money_fast_with_our_17_money-saving_tips\" >Save money fast with our 17 Money-Saving Tips<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.drafty.co.uk\/blog\/save-money-fast-on-a-low-income\/#1_plan_your_grocery_shopping\" >1. Plan Your Grocery Shopping<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.drafty.co.uk\/blog\/save-money-fast-on-a-low-income\/#2_make_a_monthly_budget\" >2. Make a Monthly Budget<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.drafty.co.uk\/blog\/save-money-fast-on-a-low-income\/#3_open_a_savings_account\" >3. Open a Savings Account<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.drafty.co.uk\/blog\/save-money-fast-on-a-low-income\/#4_be_creative_with_accommodation_costs\" >4. Be Creative with Accommodation Costs<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.drafty.co.uk\/blog\/save-money-fast-on-a-low-income\/#5_cancel_unused_subscriptions\" >5. Cancel Unused Subscriptions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.drafty.co.uk\/blog\/save-money-fast-on-a-low-income\/#6_downgrade_technological_devices\" >6. Downgrade Technological Devices<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.drafty.co.uk\/blog\/save-money-fast-on-a-low-income\/#7_take_up_a_side_hustle\" >7. Take Up a Side Hustle<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.drafty.co.uk\/blog\/save-money-fast-on-a-low-income\/#8_check_if_youre_eligible_for_benefits\" >8. Check if You&#8217;re Eligible for Benefits<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.drafty.co.uk\/blog\/save-money-fast-on-a-low-income\/#9_explore_discount_and_cashback_websites\" >9. Explore discount and cashback websites<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.drafty.co.uk\/blog\/save-money-fast-on-a-low-income\/#10_cook_at_home\" >10. Cook at Home<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.drafty.co.uk\/blog\/save-money-fast-on-a-low-income\/#11_reduce_your_energy_bills\" >11. Reduce Your Energy Bills<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.drafty.co.uk\/blog\/save-money-fast-on-a-low-income\/#12_negotiate_your_bills_and_expenses\" >12. Negotiate Your Bills and Expenses<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.drafty.co.uk\/blog\/save-money-fast-on-a-low-income\/#13_use_library_services\" >13. Use Library Services<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.drafty.co.uk\/blog\/save-money-fast-on-a-low-income\/#14_start_an_emergency_fund\" >14. Start an Emergency Fund<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.drafty.co.uk\/blog\/save-money-fast-on-a-low-income\/#15_buy_generic_and_store_brands\" >15. Buy Generic and Store Brands<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/www.drafty.co.uk\/blog\/save-money-fast-on-a-low-income\/#16_cut_back_on_impulse_purchases\" >16. Cut Back on Impulse Purchases<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/www.drafty.co.uk\/blog\/save-money-fast-on-a-low-income\/#17_embrace_the_sharing_economy\" >17. Embrace the Sharing Economy<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/www.drafty.co.uk\/blog\/save-money-fast-on-a-low-income\/#additional_ways_to_save_money_when_youre_struggling\" >Additional Ways to Save Money When You&#8217;re Struggling<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/www.drafty.co.uk\/blog\/save-money-fast-on-a-low-income\/#review_your_council_tax\" >Review Your Council Tax<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/www.drafty.co.uk\/blog\/save-money-fast-on-a-low-income\/#consider_a_water_meter\" >Consider a Water Meter<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/www.drafty.co.uk\/blog\/save-money-fast-on-a-low-income\/#look_for_the_best_deal_on_services\" >Look for the Best Deal on Services<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/www.drafty.co.uk\/blog\/save-money-fast-on-a-low-income\/#sell_items_you_no_longer_need\" >Sell Items You No Longer Need<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/www.drafty.co.uk\/blog\/save-money-fast-on-a-low-income\/#government_schemes_that_could_help\" >Government Schemes That Could Help<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/www.drafty.co.uk\/blog\/save-money-fast-on-a-low-income\/#universal_credit_and_tax_credits\" >Universal Credit and Tax Credits<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"save_money_fast_with_our_17_money-saving_tips\"><\/span><strong>Save money fast with our 17 Money-Saving Tips<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Saving money can be challenging, but it&#8217;s not impossible. With some adjustments to your spending habits, you can build up savings. Here are some practical ways to save money even with limited income:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1_plan_your_grocery_shopping\"><\/span><strong>1. Plan Your Grocery Shopping<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"532\" height=\"399\" src=\"https:\/\/www.drafty.co.uk\/blog\/wp-content\/uploads\/2022\/07\/Plan-your-grocery-shopping-to-save-money-on-a-low-income.jpg\" alt=\"Plan your grocery shopping to save money on a low income\" class=\"wp-image-926\" srcset=\"https:\/\/www.drafty.co.uk\/blog\/wp-content\/uploads\/2022\/07\/Plan-your-grocery-shopping-to-save-money-on-a-low-income.jpg 532w, https:\/\/www.drafty.co.uk\/blog\/wp-content\/uploads\/2022\/07\/Plan-your-grocery-shopping-to-save-money-on-a-low-income-300x225.jpg 300w, https:\/\/www.drafty.co.uk\/blog\/wp-content\/uploads\/2022\/07\/Plan-your-grocery-shopping-to-save-money-on-a-low-income-80x60.jpg 80w, https:\/\/www.drafty.co.uk\/blog\/wp-content\/uploads\/2022\/07\/Plan-your-grocery-shopping-to-save-money-on-a-low-income-265x198.jpg 265w\" sizes=\"auto, (max-width: 532px) 100vw, 532px\" \/><\/figure>\n\n\n\n<p>Careful meal planning and creating a shopping list can help you avoid impulse purchases and stick to your budget. This is one of the most effective <a href=\"https:\/\/www.drafty.co.uk\/blog\/how-to-save-money-when-shopping-for-food\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>ways to save on your weekly food expenses<\/strong><\/a>.<\/p>\n\n\n\n<p>Take advantage of supermarket loyalty programs to earn points and enjoy discounts. Planning your meals for the week can help you save a large amount on your food bill.<\/p>\n\n\n\n<p>Make a list before you go shopping and stick to it. This simple step could save you up to \u00a320-\u00a330 per week by avoiding impulse buys.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2_make_a_monthly_budget\"><\/span><strong>2. Make a Monthly Budget<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"532\" height=\"399\" src=\"https:\/\/www.drafty.co.uk\/blog\/wp-content\/uploads\/2022\/07\/Make-a-budget-to-save-money-fast.jpg\" alt=\"Make a budget to save money fast\" class=\"wp-image-927\" srcset=\"https:\/\/www.drafty.co.uk\/blog\/wp-content\/uploads\/2022\/07\/Make-a-budget-to-save-money-fast.jpg 532w, https:\/\/www.drafty.co.uk\/blog\/wp-content\/uploads\/2022\/07\/Make-a-budget-to-save-money-fast-300x225.jpg 300w, https:\/\/www.drafty.co.uk\/blog\/wp-content\/uploads\/2022\/07\/Make-a-budget-to-save-money-fast-80x60.jpg 80w, https:\/\/www.drafty.co.uk\/blog\/wp-content\/uploads\/2022\/07\/Make-a-budget-to-save-money-fast-265x198.jpg 265w\" sizes=\"auto, (max-width: 532px) 100vw, 532px\" \/><\/figure>\n\n\n\n<p>Creating and tracking a monthly budget allows you to understand your expenses. A good budgeting tool can help you identify areas where you can cut costs.<\/p>\n\n\n\n<p>The first step is to list all your income and expenses. Allocate amounts to different categories such as housing, utilities, food, and entertainment.<\/p>\n\n\n\n<p>Review your budget often and adjust your savings goals and spending habits accordingly. This helps you explore cost-saving alternatives and find more ways to save.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3_open_a_savings_account\"><\/span><strong>3. Open a Savings Account<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Setting up a dedicated savings account separate from your current account. This makes it easier to track your progress and resist the temptation to withdraw money.<\/p>\n\n\n\n<p>Arrange for a fixed amount to be transferred from your bank account to a save account each payday. This &#8220;set and forget&#8221; approach helps you save consistently.<\/p>\n\n\n\n<p>Consider opening an Individual Savings Account (ISA). You can take advantage of tax-free savings and potentially earn interest on your cash. For those eligible, a Lifetime ISA might be worth exploring. The government adds a 25% bonus to your savings up to a certain amount each year.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"4_be_creative_with_accommodation_costs\"><\/span><strong>4. Be Creative with Accommodation Costs<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Housing typically consumes the largest portion of most people&#8217;s income. Finding ways to reduce this cost can notably boost your ability to save money. Consider finding a flat mate to share expenses if you have a spare room. This could potentially halve your housing costs.<\/p>\n\n\n\n<p>If you own your home, you might be able to save money by renting out a room. Under the Rent a Room Scheme you to earn up to \u00a37,500 per year tax-free. If renting, consider if moving to a smaller property or a different area could help you save more.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5_cancel_unused_subscriptions\"><\/span><strong>5. Cancel Unused Subscriptions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Review your regular payments for subscriptions and cancel any services you don&#8217;t use. Many people spend on subscriptions they&#8217;ve forgotten about or barely use. Check your bank account statements to identify recurring payments. Check for streaming services, magazines, gym memberships, or other subscriptions.<\/p>\n\n\n\n<p>Consider sharing subscription costs with family members or friends. For example, a family Netflix subscription can be shared by multiple household members. This makes it more cost-effective. Try free options such as BBC iPlayer instead of paid streaming services. Use your local library for books and entertainment to help save on these expenses.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"6_downgrade_technological_devices\"><\/span><strong>6. Downgrade Technological Devices<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Assess whether you need the latest technology gadgets. Opting for more budget-friendly options can help you save money without compromising essential features.<\/p>\n\n\n\n<p>Consider keeping your current phone for longer rather than upgrading at every opportunity. If your current job doesn&#8217;t require the latest model, this can be an easy way to save.<\/p>\n\n\n\n<p>When you do need to replace tech items, look for refurbished models. They can cost significantly less while still functioning perfectly well. Compare different options and providers to find the best deal on your technology purchases. Consider whether a mid-range device could meet your needs.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"7_take_up_a_side_hustle\"><\/span><strong>7. Take Up a Side Hustle<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Increasing your income is one of the most effective ways to save more money. Consider taking on a part-time job or freelancing to earn extra money each month. Use skills from your current job or hobbies to find additional work. Writing, graphic design, tutoring, or delivering food are all possible <strong><a href=\"https:\/\/www.drafty.co.uk\/blog\/how-to-make-money-from-a-side-hustle\/\" target=\"_blank\" rel=\"noreferrer noopener\">side hustles that could boost your income<\/a><\/strong>.<\/p>\n\n\n\n<p>Even a few hours of work each week can provide extra money to put straight into your savings account. If you receive a pay rise, try to maintain your previous spending level. Then direct the additional income straight to savings.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"8_check_if_youre_eligible_for_benefits\"><\/span><strong>8. Check if You&#8217;re Eligible for Benefits<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Many people on a low income are not claiming all the benefits they&#8217;re entitled to. Check if you qualify for Universal Credit, tax credits, or other support.<\/p>\n\n\n\n<p>If you have children, you might be eligible for additional help. The age of your children can affect what you&#8217;re entitled to, so it&#8217;s worth checking what&#8217;s available.<\/p>\n\n\n\n<p>Those claiming benefits can often access additional support for specific costs. Including help with council tax or housing payments. Visit <a href=\"https:\/\/afforda.co.uk\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Afforda<\/strong><\/a>, and complete the free benefits check tool.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"9_explore_discount_and_cashback_websites\"><\/span><strong>9. Explore discount and cashback websites<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Discount and cashback websites are valuable tools to save extra money while shopping online. They offer various deals, discounts, and cashback incentives.<\/p>\n\n\n\n<p>Before making any purchase, check if you can find a better deal or earn cashback. Try sites like TopCashback, Quidco or use discounts available through Afforda.<\/p>\n\n\n\n<p>Take advantage of student discounts, loyalty programs, and seasonal sales to maximise your savings when shopping. Set price alerts for items you need but aren&#8217;t urgent. You can wait for them to go on sale and potentially save a significant amount.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"10_cook_at_home\"><\/span><strong>10. Cook at Home<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"532\" height=\"399\" src=\"https:\/\/www.drafty.co.uk\/blog\/wp-content\/uploads\/2022\/07\/Cook-at-home-to-save-money-fast-on-low-income.jpg\" alt=\"Cook at home to save money fast on low income\" class=\"wp-image-928\" srcset=\"https:\/\/www.drafty.co.uk\/blog\/wp-content\/uploads\/2022\/07\/Cook-at-home-to-save-money-fast-on-low-income.jpg 532w, https:\/\/www.drafty.co.uk\/blog\/wp-content\/uploads\/2022\/07\/Cook-at-home-to-save-money-fast-on-low-income-300x225.jpg 300w, https:\/\/www.drafty.co.uk\/blog\/wp-content\/uploads\/2022\/07\/Cook-at-home-to-save-money-fast-on-low-income-80x60.jpg 80w, https:\/\/www.drafty.co.uk\/blog\/wp-content\/uploads\/2022\/07\/Cook-at-home-to-save-money-fast-on-low-income-265x198.jpg 265w\" sizes=\"auto, (max-width: 532px) 100vw, 532px\" \/><\/figure>\n\n\n\n<p>Eating out and ordering takeaways can significantly drain your budget. Preparing meals at home is one of the most effective ways to save money fast. Plan your meals for the week ahead and batch cook when possible. This not only saves money but also time during busy weekdays.<\/p>\n\n\n\n<p>Pack lunch for work instead of buying it. This simple habit could save you \u00a35-\u00a310 per day, which adds up to substantial savings over a month. Learn to cook simple, nutritious meals using affordable ingredients. This skill will benefit your finances and potentially your health too.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"11_reduce_your_energy_bills\"><\/span><strong>11. Reduce Your Energy Bills<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Being mindful of your electricity, water, and gas consumption can help you save on energy bills each month. Turn off lights and appliances when not in use. Take shorter showers, and adjust your thermostat to save on heating and cooling expenses.<\/p>\n\n\n\n<p>Consider installing a water meter if you use less water than average for your household size. This could potentially reduce your bills significantly. Investing in energy-efficient appliances and LED lighting might have an upfront cost. They can lead to long-term savings on your energy bills.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"12_negotiate_your_bills_and_expenses\"><\/span><strong>12. Negotiate Your Bills and Expenses<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Many service providers will offer better rates if asked, especially if you&#8217;ve been a loyal customer. Don&#8217;t be afraid to negotiate your bills.<\/p>\n\n\n\n<p>Contact your internet provider, mobile phone company, and insurance providers. See if you can get a better deal. Sometimes, mentioning competitors&#8217; offers can lead to price matching.<\/p>\n\n\n\n<p>Review your insurance policies yearly to ensure you&#8217;re getting the best deal. Consider using comparison websites to find cheaper alternatives. If you&#8217;re struggling to pay any bills, contact the provider early. Many companies offer payment plans or hardship schemes rather than letting customers fall into debt.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"13_use_library_services\"><\/span><strong>13. Use Library Services<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Your local library offers more than just books. Many provide free access to magazines, newspapers, films, and even online courses. Instead of buying books or paying for a movie night at the cinema, use your library&#8217;s resources.<\/p>\n\n\n\n<p>Libraries often host free events and workshops. They can provide learning opportunities and entertainment without affecting your budget. Some libraries also offer spaces to work or study. These spaces could save you from needing to spend money in cafes if you need a change of scene from home.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"14_start_an_emergency_fund\"><\/span><strong>14. Start an Emergency Fund<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>An emergency fund protects you from unexpected expenses. It helps you avoid going into debt when faced with surprise costs. Start small if necessary, but aim to set aside some money regularly. Even \u00a35 a week can add up to over \u00a3250 in a year.<\/p>\n\n\n\n<p>Keep the fund in an easily accessible savings account so you can withdraw money quickly if needed. Aim to build up enough to cover 3-6 months of essential expenses. This will give you some financial security for the future.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"15_buy_generic_and_store_brands\"><\/span><strong>15. Buy Generic and Store Brands<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>For your food budget, opt for generic or store brands instead of name brands. Often, these products are just as good but come at a lower price.<\/p>\n\n\n\n<p>This approach can help you save on groceries, clothes, household items, and toiletries without sacrificing quality.<\/p>\n\n\n\n<p>Be selective about which items you buy generic. Some products may be worth the extra cost, while for others, you might not notice any difference. Many store-brand products are made in the same factories as premium brands. They difference may just be the packaging, allowing you to save without compromising.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"16_cut_back_on_impulse_purchases\"><\/span><strong>16. Cut Back on Impulse Purchases<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Before making significant purchases, implement the 30-day rule: wait for 30 days before buying non-essential items. This gives you time to decide whether the purchase is necessary. This often leads to more thoughtful spending.<\/p>\n\n\n\n<p>Ask yourself if the item is a want or a need. Consider whether it aligns with your financial goals before spending. It&#8217;s fine to occasionally treat yourself, like planning a movie night. Make sure these treats are planned within your budget rather than impulsive decisions.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"17_embrace_the_sharing_economy\"><\/span><strong>17. Embrace the Sharing Economy<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The sharing economy provides opportunities to save money while accessing various goods and services. Consider using platforms like Airbnb to find cheaper housing options. Sell your unused space to earn extra money.<\/p>\n\n\n\n<p>Look into car-sharing schemes if you only need a car now and then. This could save you thousands compared to owning a vehicle. Explore tool libraries or lending networks in your community. Here you can borrow items you only need rather than buying them.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"additional_ways_to_save_money_when_youre_struggling\"><\/span><strong>Additional Ways to Save Money When You&#8217;re Struggling<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"review_your_council_tax\"><\/span><strong>Review Your Council Tax<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Check if you&#8217;re eligible for a council tax reduction. Single occupants can receive a 25% discount, and some households may qualify for larger reductions.<\/p>\n\n\n\n<p>Students and certain vulnerable groups may be exempt from council tax altogether, so check your status. If you&#8217;re income is low or you&#8217;re receiving benefits, you might qualify for Council Tax Support.<\/p>\n\n\n\n<p>Make sure your property is in the correct council tax band. If you believe your home is in the wrong band, you can challenge it and potentially save hundreds of pounds.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"consider_a_water_meter\"><\/span><strong>Consider a Water Meter<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>A water meter measures your actual water usage rather than charging a fixed rate. This could save money if your household uses less water than average.<\/p>\n\n\n\n<p>If you have more bedrooms than people in your home, a water meter might help you save on your bills. Water companies can usually install a water meter free of charge. Many allow a trial period to see if it saves you money.<\/p>\n\n\n\n<p>Along with installing a meter, implementing water-saving habits can further reduce your bills.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"look_for_the_best_deal_on_services\"><\/span><strong>Look for the Best Deal on Services<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Regularly compare prices for services. Look at broadband, mobile phones, and utilities to ensure you&#8217;re getting the best deal.<\/p>\n\n\n\n<p>Use comparison websites to find better offers when your contracts are due for renewal. Switching providers often comes with incentives that can help you save.<\/p>\n\n\n\n<p>Consider whether you really need all the services you&#8217;re paying for. For example, could you manage with less mobile data or a slower broadband speed?<\/p>\n\n\n\n<p>Bundling services together (like TV, broadband, and phone) can sometimes offer better value. Always calculate whether the bundle truly offers savings.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"sell_items_you_no_longer_need\"><\/span><strong>Sell Items You No Longer Need<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Decluttering your home can help you sell items you no longer use or need. This can provide an immediate boost to your finances.<\/p>\n\n\n\n<p>Online marketplaces, car boot sales, and specialist reselling apps make it easy to sell unwanted items. Before selling, research similar items to ensure you price your goods well and maximise potential earnings.<\/p>\n\n\n\n<p>Consider timing your sales strategically. For example, garden furniture often sells for more in spring, while winter clothes fetch better prices in autumn.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"government_schemes_that_could_help\"><\/span><strong>Government Schemes That Could Help<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"universal_credit_and_tax_credits\"><\/span><strong>Universal Credit and Tax Credits<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Universal Credit has replaced several older benefits. Its designed to support people on a low income or out of work.<\/p>\n\n\n\n<p>If you&#8217;re working you may still be eligible for Universal Credit as a top-up to your earnings. Tax credits are available for working families and those with children. Check your eligibility, as these can provide a significant boost to your income.<\/p>\n\n\n\n<p>If you&#8217;re claiming benefits, make sure you report any changes in your circumstances promptly. This will avoid overpayments that would need to be repaid later.<\/p>\n\n\n\n<p>Remember that benefits rules change frequently. It&#8217;s worth checking your entitlement often to ensure you&#8217;re not missing out on support.<\/p>\n\n\n\n<p><strong>Disclaimer:<\/strong> We are not providing financial advice. These are just tips for informational purposes. We are not affiliated to any of the external parties linked. They are provided for reference only.<\/p>\n\n\n\n<p><strong>Related Guides:<\/strong><\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.drafty.co.uk\/blog\/how-to-save-for-a-holiday\/\" target=\"_blank\" rel=\"noreferrer noopener\">How To Save For a Holiday<\/a><\/strong><\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.drafty.co.uk\/blog\/1p-savings-challenge\/\" target=\"_blank\" rel=\"noreferrer noopener\">How You Can Save \u00a3667.95 With 1p Savings Challenge<\/a><\/strong><\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.drafty.co.uk\/blog\/how-to-save-20000-in-a-year-uk\/\" target=\"_blank\" rel=\"noreferrer noopener\">How To Save \u00a320000 in a Year in UK<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saving money is an essential skill that provides financial security and helps you achieve long-term goals. By trying these tips, you can reduce expenses and increase your savings. Even if you&#8217;re on a low income or tight budget. This article has tips on how to save money and improve your overall financial situation. Small changes [&hellip;]<\/p>\n","protected":false},"author":47,"featured_media":756,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":{"0":"post-711","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-research"},"_links":{"self":[{"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/posts\/711","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/users\/47"}],"replies":[{"embeddable":true,"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=711"}],"version-history":[{"count":6,"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/posts\/711\/revisions"}],"predecessor-version":[{"id":1201,"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/posts\/711\/revisions\/1201"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/media\/756"}],"wp:attachment":[{"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=711"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}