5 small changes that could save you money

Saving money may feel like it requires big sacrifices, but it doesn’t have to.

You can make a difference to your bank balance with a few small, consistent changes to your daily habits.

Here, we’ll guide you through five simple adjustments that can add up to significant savings over time.

1. Track your ‘small’ spending

First up: get curious about where your money is really going.

Try tracking every small purchase for just one week, such as the daily coffee, the little treats and the takeaway.

This exercise is not about making you feel guilty. It’s to give you the data you need to spot easy opportunities for saving.

Once you can see little leaks in your budget, you’ll be able to make simple cuts or swaps within your daily spending.

2. Audit your monthly subscriptions

Do you sign up for free trials and then forget to cancel? Or hold onto streaming services you barely use?

Set aside some time to go through your bank statement and identify all your recurring monthly subscriptions.

Do you use each one? If not, cancelling just one or two could save you money each month.

You can always re-purchase them later if you want to use them again.

3. Plan your meals

Food waste is a drain on your household budget and something you can tackle with simple planning.

Before you head to the shops, plan your meals for the week so you only buy what you need.

You could also try swapping big-brand items for own-brand alternatives during your regular shop.

You might find the quality is just as good for much less money.

4. Think about your driving costs

If you have a car, there are modest tweaks you can make to help reduce your running costs. For instance, see if you can lower the price of your insurance by looking at cost-effective options such as telematics insurance.

This is often cheaper than a typical policy as it looks at your behaviour behind the wheel, rewarding safe driving with lower insurance costs.

Other ways to save include combining errands into one journey, removing unnecessary weight from the car and checking your tyre pressures regularly, as under-inflated tyres use more fuel.

5. Lower your thermostat by one degree

The Energy Saving Trust says turning your thermostat down by just one degree (say from 22 °C to 21 °C) could save around £90 a year for households in Great Britain.

You’ll barely notice the one-degree change in your home’s comfort, but you’ll see the difference in your energy bill over the winter.

While you’re at it, switch off lights in empty rooms, avoid leaving appliances on standby and consider draught-proofing if you haven’t already.

Making small changes like these shouldn’t feel like huge sacrifices in your daily life, but can make a difference to your bank balance over time.

Why not pick one of these changes to make this week?