Small money wins to ease pressure

Cutting unused subscriptions and direct debits

It’s easy to set up a direct debit or subscription and forget about it. The charity Ben notes that UK households waste around £500 each year on services they no longer use. Going through recent bank statements to cancel unused services can free up cash quickly. Consider reviewing:

• Streaming and entertainment – cancel subscriptions you rarely use or rotate between services.
• Gym and club memberships – if you’ve stopped going, see if you can freeze or cancel the contract.
• Insurance add‑ons – check for duplicate cover or policies that are no longer relevant.
• Mobile and broadband contracts – haggle for a better deal or look into social tariffs if you’re eligible.

Remember: every pound you don’t spend on something you don’t need is a pound you can put toward something that matters to you.

Saving on household costs

Small changes around the home can add up over the year. Here are a few examples of easy wins:

• Turn down the thermostat – lowering it by just 1 °C could save around £80 a year on heating.
• Switch appliances off at the plug – doing so may save about £40 a year on standby power.
• Use LED bulbs – replacing halogen or incandescent bulbs reduces electricity use.
• Plan and batch cook meals – plan meals in advance, buy own‑brand items and cook in batches to trim food costs.

Building a small savings cushion

Putting aside even small amounts can be the start of an emergency fund. MoneyHelper suggests several simple actions:

• Save spare change – put loose coins or a few pounds aside each week.
• Open a separate savings account – choose one with a competitive interest rate so your money works a little harder.
• Automate transfers – set up a standing order to move money on payday before you’re tempted to spend it.
• Build up a cushion – aim for at least three months’ worth of expenses if you can.

Looking for support and benefits

If high bills are putting pressure on your budget, it may be worth checking whether you’re eligible for benefits, grants or social tariffs. Ben’s guide explains that some energy suppliers offer hardship funds and that councils or charities may provide help with food, travel or household costs. Trusted advice organisations maintain lists of current schemes and can explain how to apply. To get started, you could:

• Check benefit and grant eligibility – use official calculators to see if you qualify for benefits, one‑off grants or social tariffs.
• Ask providers about hardship funds – energy suppliers and water companies sometimes offer support if you’re struggling.
• Seek local help – councils and charities may offer assistance with food, travel or essential household costs.
• Explore budgeting methods – our budgeting methods guide explores different approaches.

Sources

• MoneyHelper – Saving money to boost your budget
• Ben – 10 ways to reduce your living costs