The onset of 2025 brings the perfect chance to begin using some savvy saving methods that can accumulate substantial savings over the year without drastically altering everyday life.
Fred Harrington, CEO at Coupon Mister, has revealed five straightforward switches to commit to this coming year, reassuring: “You don’t need to make drastic sacrifices – by making small, consistent tweaks to your spending habits, you can unlock some serious savings.”
Ditching the daily coffee shop run could mean saving a whopping £1,800 annually – with Brits having shelled out an average of £5 a day for their takeaway caffeine fixes back in 2021, according to Statista. Meanwhile, buying coffee to brew at home clocked in at an economical 49p a week.
Not to mention, as the expert highlighted, you’ll also save plenty of time not queuing up for your latte or diverting on your morning journey to work for a caffiene fix.
Next on Fred’s list of money saving resolutions is swapping out old lightbulbs for energy-efficient LEDs that will not only cut costs but also help the environment.
Despite the initial cost of this shift, the bulbs more than pay for themselves with potential savings of £100 to £200 each year.
LED bulbs also have a longer lifespan meaning you’ll need to buy less of them over time. If you’re looking for even more energy savings you can invest in smart plugs and strips that automatically turn off appliances and switches when not in use.
Speaking of cutting off things you don’t use, Fred encouraged people to target the subscriptions, which could save the average household up to £60 a month. This also includes those well-intended gym memberships bought on January 1.
It’s also worth reassessing app subscriptions like streaming services and using comparison websites to see if there are potential discounts or cheaper options that would better suit your needs and budget if you don’t want to do away with them entirely. Fred also highlighted that this could help to declutter your inbox and postboxes, too, with fewer subscription reminders.
One commonly hailed trick finance experts recommend is automating your savings to come out of your account as soon as possible after you get paid.
Fred recommended starting this in the new year, if you haven’t already, as it allows you to save without having to even think about it each month and over a year even a humble £50 a month can grow to a comfortable £600, not including any interest you may earn along the way.
Certain savings accounts may also reward you with other benefits or higher interest rates for making consistent monthly contributions.
As many folks aim to whip their diet and fitness into shape for 2025, Fred dished out some savvy advice to consider your wallet in the wellness mix. He recommended: “Plan meals ahead, cook at home, and batch-cook freezer-friendly dishes.”
Recent Statista research unveiled that in 2022, the average UK household forked out £4.10 weekly on takeaways. Yet, this figure skyrockets among the younger crowd, with under-25s splurging an eye-watering £43 each week on fast food fixes.
Those aged between 25 to 34 were not far behind, shelling out over £2,600 annually on takeout – almost twice as much as their late 40s counterparts.
Implementing these top 5 changes could pocket you a cool £368 monthly, totalling a whopping saving of more than £4,400 throughout 2025.
Fred concluded: “Start today, keep it simple, and trust the process. Your future self will thank you.”
