THE top ways Brits are planning to make money go further in 2024 include cooking at home instead of going out, closely monitoring energy use – and freezing left over food.
A study, of 2,000 adults, found that 32% plan to buy things from different supermarkets to make sure they are getting the lowest price and a quarter will be shopping for second-hand items in the upcoming year.
1
Others will be learning about investing, trying to find the best interest rates and asking friends and family for energy-saving tips.
More than nine in 10 (91% see the importance of keeping an eye on energy use when trying to save money, so that they know they will have an accurate bill (45%).
And 41% said that knowing how much they use helps them stick to their budgets.
A spokesperson for Smart Energy GB, which commissioned the study, said: “The beginning of a new year can be a good time to make a lifestyle change, like saving money by home cooking and shopping around to get the cheapest prices.
Read more energy tips
“It’s great to see so many people recognise how helpful it can be to track energy use when trying to make money go further.
“One of the best ways to do this is to request a smart meter installation from your energy supplier.
“They bring particular benefits for those currently on analogue prepay meters, allowing you to track your remaining credit, and top up online.”
Although 42% think January is the best time to set new savings goals, 81% believe it’s hard to make their money go further in Britain right now.
Most read in Money
This is because everything is so expensive (73%) and it is hard to budget when prices of essentials keep changing (57%).
The supermarket shop and energy use are the key areas Brits are most likely to carefully budget for – with 87 per cent claiming to be good at sticking to their goals.
However, these areas also topped the list of the things which are hardest to cut back on.
Treats, social life and clothing are deemed the easiest to budget for, according to the stats by OnePoll.
National Energy Action chief executive Adam Scorer added: “Smart prepayment can be a game changer for those using an analogue prepayment meter.
“It enables suppliers to provide easier and faster access to emergency credit and for customers to switch from prepayment to credit if they can.”
The top ways Brits plan to make their money go further in 2024:
- Cooking at home instead of going out
- Closely monitoring energy use
- Freezing excess food to eat another day
- Buying things from different supermarkets to make sure you get the lowest price
- Selling things online that you don’t use anymore
- Cancelling unwanted subscriptions
- Trying to find the best interest rates
- Shopping for secondhand items
- Taking shorter showers
- Bringing packed lunches from home
Tips to stay warm this winter
There are plenty of affordable ways you can stay warm this winter.
Get yourself a hot water bottle, they are always great for a cost-free way of keeping warm.
If you’ve got a few pennies to spare consider buying an electric blanket.
They are another great way to keep warm and most cost around 3p an hour to run.
Don’t forget about preventative measures, draught-proof your home and seal your windows to stop cold air from coming in.
Prices for draught excludes start from a fiver in most stores but a thick blanket rolled up next to a draughty door will work just as well.
Loft insulation is also very important as it can stop heat escaping, therefore slashing your heating bill.
You can buy insulation from all local builder merchants or retailers such as B&Q and Wickes.
READ MORE SUN STORIES
Do you have a money problem that needs sorting? Get in touch by emailing [email protected].
You can also join our new Sun Money Facebook group to share stories and tips and engage with the consumer team and other group members.
