The top 15 money saving tactics for 2016

Saving money is a New Year’s resolution meant to be broken.

But if you have the wherewithal to stick it out, here are some money saving tactics for you.

A survey of 2,002 adults by Gocompare.com found that just under half (48%) of Brits will use money-off coupons, vouchers and apps to avoid paying full price for a range of goods and services, while 44% will use benefits from loyalty and cashback schemes to reduce their expenditure. 

Other top tactics for saving cash include setting a budget and shopping around for insurances and energy deals:   

The survey also revealed that many people are struggling, with 10% of respondents admitting to being “seriously worried about their finances” and 6% saying they rely on credit cards to make ends meet. The survey also found that:  

• 30% of Brits plan to try and reduce their outgoings in 2016
• 14% of those surveyed said that they run out of money before the end of the month
• 11% expect to have a credit card debt for most of 2016

Here are the top 15 money saving tactics for 2016 that Brits have voted for:

1 Use vouchers, coupons, money-off apps to reduce the cost of purchases 48%

2 Use loyalty and cashback schemes 44%

3 Set a budget and stick to it 29%

4 Shop around for car insurance 28%

5 Shop around for home insurance 28%

6 Cut out takeaway coffee and coffee shop treats 27%

7 Switch energy supplier for a cheaper tariff 26%

8 Cut down on takeaways and ready meals 26%

9 Reduce heating bills by turning down the thermostat 25%

10 Switch to a discount supermarket 25%

11 Review or cancel satellite/cable TV subscription  20%

12 Cut down on the cost of holidays 17%

13 Review or cancel mobile phone contract 14%

14 Walk or use public transport instead of the car 13%

15 Transfer all credit card debt to a 0% card 8%

 

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