Published: 13 March 2025
Looking to start saving money for a house deposit or another big purchase? You might not know where to start – that’s why we’re here to shed some light on some money saving tips that could get your savings started.
How to start saving money
If you’re hoping to start saving money, or top up your savings, you might need a helping hand.
We know that saving money for everyone is different – the important thing is making it feel easy and achievable. So here are some savvy savings hacks to get you thinking:
1. Check your regular payments
Are you spending money regularly on things you either don’t need or use? Maybe it’s a gym membership you’re still paying for when you don’t use it very much. Or you’re spending money every month on cloud storage for an old mobile phone you’d forgotten about. It could even be you’ve subscribed to a streaming service you don’t have time to watch anymore.
Well, when it comes to money saving tips, checking regular payments can be a good place to start because you might find some quick wins in your budget.
2. Make those pennies count
It’s an old saying, but ’Look after the pennies, and the pounds look after themselves’ is a good rule to live by when it comes to your savings.
Some banks have a helpful function called ‘round ups’ - where you agree for the bank to move those spare pennies in your bank account to a specific money pot.
This can be a straightforward way to save a little bit of money because you might not miss those leftover pennies – and they could soon start to add up. For instance, if you had £1,000.57 in your current account, the 57p could be moved over automatically to your selected bank account. Then when that extra money pot has increased over time, you could open a savings account with the money you’ve put away.
3. Sign up for supermarket loyalty schemes
To quote a famous supermarket’s adverts, when it comes to your savings, ‘every little helps’. And signing up for supermarket loyalty cards could be considered a good way of reducing the cost of everyday items, which can leave a little bit extra to put towards your savings goals.
Loyalty schemes at supermarkets reward you by offering lower prices or money off products you buy. Money you save at the till could then be added to your savings.
Usually, supermarkets’ loyalty cards are free, although they might incur a small cost to sign up, so it’s worth checking this beforehand.
4. Earn cashback for free
Get paid to shop online by earning cashback with sites – such as TopCashback or Quidco.
And usually, you can then transfer the money you’ve earnt - from a purchase you were already making - into your savings account.
Most cashback websites are free to use and sign up to, but there are some providers who offer premium accounts for an additional cost. So, remember to read the T&Cs before signing up.
5. Sell what you don’t need
Remember that dress you wore once that’s just sitting in your wardrobe taking up space and gathering dust? Why not start selling your old stuff and put the money you earn into your savings?
Most selling platforms offer fee-free selling, such as Depop and eBay. Just make sure you check this important factor in the T&Cs before you start selling.
If you’re having a clear-out, think about selling stuff like:
- Old clothes
- Unused toys
- Electrical items
- Unused home décor – such as curtains or an old chest of drawers
Then you could use the money you make to top up your savings pot.
That’s just a few money saving tips to think about that can help you reach your savings goals. Why not try some of them out yourself?
This article is not advice, and you should seek independent financial or legal advice if needed.
