10 Ways to Save Money and Keep Track of Your Finances in the UK
Published 10th of April 2016·Updated 10 April 2026
Reviewed by: Reviewed for accuracy April 2026
Saving money in the UK is easier when you use the right tools. Free price comparison sites, budgeting apps and cashback services can collectively save UK households hundreds of pounds each year with very little effort. This guide covers ten practical methods you can start using today.
Short Summary
Price comparison sites for groceries, energy and insurance are among the most effective free tools available to UK consumers. Using just two or three of them regularly can reduce your household bills significantly.
Budgeting apps that link to your bank accounts give you a real-time picture of your spending. Seeing exactly where your money goes is usually enough to change habits.
Many money-saving tools are free to use and take only a few minutes to set up. The biggest barrier is simply getting started.
Combining a comparison site for big bills with a daily deal site for discretionary spending covers both ends of your budget. You do not need to use every tool here - pick the ones that match how you spend.
How can I save money on my weekly food shop?
The most reliable way to reduce your grocery bill is to compare prices before you shop. Websites such as Trolley.co.uk (which replaced MySupermarket) let you search for products across major supermarkets including Tesco, Sainsbury's, Asda, Morrisons and Waitrose and see where each item is cheapest.
Switching to own-brand products for staples such as pasta, rice and tinned goods can cut a typical weekly shop by 20 to 30 per cent, according to Which? research. Planning meals for the week before you shop also reduces waste and impulse purchases.
How do I find the cheapest car or home insurance?
Price comparison sites such as MoneySuperMarket, Compare the Market and Go.Compare allow you to search quotes from over 100 insurers at once. Entering your details once and comparing results takes around ten minutes and could save you several hundred pounds on your annual premium.
Always check the excess on any policy before purchasing. A low headline price is sometimes offset by a very high excess that makes smaller claims unworkable.
| Comparison site | Insurers compared | Also covers |
|---|---|---|
| MoneySuperMarket | 100+ | Energy, broadband, credit cards |
| Compare the Market | 100+ | Travel, life insurance |
| Go.Compare | 100+ | Mortgages, breakdown cover |
| Confused.com | 100+ | Van, bike, pet insurance |
What is the best free budgeting app in the UK?
Money Dashboard is a free UK budgeting tool that connects securely to your bank and credit card accounts using open banking. It shows all your accounts in one place, categorises your spending automatically and lets you set monthly budgets for different categories.
Alternatives worth considering include Emma, which flags subscriptions you may have forgotten about, and the Monzo or Starling bank apps if you use one of those current accounts. All of these use FCA-regulated open banking connections, so your login credentials are never shared with the app.
Can I save money on my mobile phone contract?
Switching mobile network is one of the quickest ways to cut a recurring bill. Comparison sites such as Uswitch allow you to filter contracts by data allowance, handset and monthly cost across networks including EE, O2, Vodafone, Three and smaller providers such as iD Mobile and Sky Mobile.
If you do not need a new handset, a SIM-only deal is almost always significantly cheaper than a bundled contract. Average SIM-only plans with 15GB of data start from around £8 per month, compared to £35 or more for an equivalent contract that includes a mid-range smartphone.
Where can I find daily deals and discount vouchers?
HotUKDeals is a community-driven deals site where users post and vote on offers they find. Deals cover electronics, food, clothing and services. The most popular deals rise to the top, which acts as a quality filter.
Groupon.co.uk offers discounted experiences, restaurants and local services. It is most useful for discretionary spending such as meals out or weekend activities. Sign up for daily email alerts to see new deals without having to visit the site manually.
How do I save money on train tickets?
Buying rail tickets in advance through Trainline or directly through the National Rail website consistently produces lower fares than buying at the station on the day of travel. For a regular commuter route, an annual season ticket is usually cheaper than buying daily.
Railcards reduce the standard fare by a third and cost between £30 and £70 depending on the type. The 16-25 Railcard, 26-30 Railcard, Two Together Railcard and Senior Railcard each pay for themselves after only a handful of journeys. Split ticketing (buying two tickets for separate legs of the same journey) can also produce significant savings on longer routes.
How can I compare energy tariffs?
Ofgem's price cap sets a limit on what suppliers can charge per unit of energy, but the cap does not mean all tariffs are the same price. Fixed-rate deals available from suppliers such as Octopus Energy, British Gas, E.ON and OVO can sometimes undercut the standard variable rate.
Use Uswitch or MoneySuperMarket to compare tariffs. If you switch supplier you keep your existing meter and the switch typically takes around three weeks. You do not need to contact your existing supplier - the new one handles the process.
How do I track all my finances in one place?
Open banking services regulated by the FCA allow budgeting apps to connect to multiple bank accounts securely. Money Dashboard, Emma and Moneyhub all support this. Once connected, you can see your current account, savings, credit cards and loans on a single dashboard.
Setting up spending alerts is one of the most effective habits for avoiding overdraft charges. Most major banks including Barclays, HSBC, Lloyds and NatWest offer free push notifications when your balance drops below a threshold you choose.
Is there a cheap way to buy second-hand goods?
Facebook Marketplace, eBay and Gumtree are the largest platforms for second-hand goods in the UK. For books specifically, AbeBooks and WorldOfBooks offer second-hand copies for as little as £0.01 plus postage.
Freecycle (freecycle.org) operates as a local network of people giving items away for free rather than throwing them away. It is worth checking regularly if you are furnishing a home or looking for equipment for a hobby.
How do I stop wasting money on things I do not use?
The most common source of wasted spending identified by UK budgeting apps is forgotten subscriptions. These include streaming services, gym memberships, app subscriptions and trial offers that converted to paid plans. The Emma app specifically scans your transactions and flags recurring charges.
Cancelling a single unused subscription at £9.99 per month saves almost £120 per year. Most subscriptions can be cancelled online in under five minutes.
Frequently Asked Questions
What is the fastest way to start saving money in the UK?
The fastest win for most people is to run an insurance comparison on MoneySuperMarket or Compare the Market when your renewal is due. Switching insurer at renewal is legal, straightforward and typically saves between £100 and £300 on car or home insurance. This takes around ten minutes.
Are price comparison sites trustworthy?
The major UK comparison sites are regulated by the FCA where they deal with financial products such as insurance and credit. They earn commission from providers when you purchase through them, which is standard practice and declared in their terms. Always read the full policy details before buying rather than relying solely on the comparison site's summary.
Do budgeting apps have access to my money?
No. Apps that use open banking read your transaction data only. They cannot move money or make payments. The FCA regulates open banking providers in the UK and requires them to use strong encryption and customer authentication. Your bank login credentials are never stored by the app.
How much can I realistically save by switching energy supplier?
This depends on what tariff you are currently on. During periods when fixed deals are available below the Ofgem price cap, switching can save between £100 and £400 per year for a typical household. Use Uswitch or the Ofgem's own comparison tool to check your current tariff against available alternatives.
Is it worth getting a railcard?
A railcard costs between £30 and £70 and saves a third off most rail fares. If you travel by train even occasionally, most railcards pay for themselves within two or three return journeys. The 16-25 Railcard and Senior Railcard are the most widely applicable; the Two Together Railcard suits couples who travel on the same tickets.
What should I do if I am struggling to manage my money?
Free, impartial debt and budgeting advice is available from Citizens Advice, the Money and Pensions Service (MoneyHelper at moneyhelper.org.uk) and StepChange. These services are confidential and do not charge a fee. If your debts are becoming unmanageable, contacting one of these organisations early gives you the most options.