Reducing your spending

Whilst bills and food prices continue to soar, there are a few ways we can reduce our outgoings.

Managing your expenses

Everything in life comes at a price. That’s why it’s important to make sure that you are reviewing your expenses regularly to make sure that you aren’t paying too much.

Utilities

While there are not many savings to be made on utility bills due to price caps, there are a few ways you can reduce your bill.

Tips for reducing your electricity and gas bills

Make sure that your house is is well insulated and energy efficient.
Avoid leaving devices on standby, as this wastes electricty.
If you are struggling with making your energy payments, talk to your energy provider for support. British Gas Energy Trust also offer support for energy debt.
Visit the Money Saving Expert website for tips on comparing energy deals

Tips for reducing your water bills

If you have only a few people in your household, it is often cheaper to have a water meter.
Welsh Water offer reductions for people with reduced incomes and for those with disabilities which require increased water usage.
If you have debt to Welsh Water, there is support available. Contact Welsh Water and discuss your options with them.

Rent and mortgages

If you are struggling with your rent and live in a council property, the money advice team can help. Similarly, if you rent from a housing association, you will be able to get support from a financial inclusion or money advice team at your landlord.
Private tenants can request help from the supporting people team. A support worker can help you with your paperwork and help you deal with other financial issues.
If you are struggling with mortgage payments, speak with your mortgage lender. They may be able to change the type of repayments for your mortgage.

Food shopping

Budgeting

Keeping the weekly shop cost to a minimum is much easier if you have decided a budget before heading down the isles.

There are lots of free budget planning tools available online to create a budget that works for you.

Information on budgeting

Shopping around

To save money on the weekly shop, it is worth shopping around to find the best prices and deals.

Most supermarkets offer coupon schemes which can save shoppers large amounts.
Many supermarkets offer new customer delivery discounts for first time online shoppers.
You can find a list of coupon offers, online shopping discounts on the Money Saving Expert website.

Downshifting

If you usually buy a named brand, look to buy the next brand down. Do the same if you use an own brand to the value brand. If you are still happy with the quality, stick to the new price point!

Find out more about Downshifting on the Money Saving Expert website.

Services and subscriptions

Whether it’s broadband, TV packages, or insurance there are plenty of savings to be made on a variety of services and subscriptions.

Finding the best deal

Price Comparison websites are a great way of finding the best-priced service that suits you
Keep a diary of when your packages are coming to an end so that you can shop around to get the best new deals.
Visit the Money Saving Expert website to find guides and tools to help you get the best deals on your broadband packages and phone contracts

Retail

Popular retailers offer a range of deals for consumers. You can find a list of current deals on The Money Saving Expert website.