Top tips to cut costs during Coronavirus
Written by Tom James on 7 April 2020
To help you budget better in these uncertain times, we’ve compiled a handy list of the ways you could save on your everyday outgoings.
Check out your subscriptions
Whether you’re a gym buff, a film fanatic or a sporting supremo, you may keep up with your interests by way of a monthly subscription service.
If you pay to watch sport on TV then you’re not being given value for money at the minute. Sky Sports are allowing customers to pause their subscriptions until ‘the action resumes’, so take advantage of this if you’re a customer. BT Sport are offering a ‘bill credit for two months of BT Sport’ which is better than nothing!
Do you stream music? You may want to check how much you really use the service whilst isolating. For the sake of a few adverts, platforms like Spotify offer a free service, and YouTube can cover a lot of music out there – you just need to create an account and start making a playlist.
If you’re into steaming films and TV, Netflix and Amazon Prime may help you pass the time in the coming months. These subscriptions allow for multiple users, so you may want to consider sharing the cost with others who use them. If you find you’re trying out other hobbies and are keeping away from the screens, try cooling off or cancelling your subscriptions for a while.
If you’re a gym bunny then you’ll be very aware that you’ll have to make do with home workouts by Joe Wicks and Mr Motivator to keep you going! You shouldn’t be paying for a gym subscription if you can’t use it. Check with your gym to see if you can either freeze your subscription or cancel it all together.
Compare your utility bills
We should all be frequently reviewing our utility bills to make sure we are paying a fair price. Comparison websites like Go Compare can give you a better idea of what deals are out there to help you save.
If you find a better rate and your energy provider is part of the Energy Switch Guarantee , it should be easy and quick to switch. Be aware of the terms in your current tariff to make sure you don’t have to pay any early exit fees.
With the warmer weather coming our way, you may be able to get away with turning down the heating and saving some money over the summer months. If there is a chill in the air, then try layering up before reaching for the thermostat. As it’s brighter outside for longer, keep the curtains open for longer and turn off any unnecessary lights.
Buy and cook in bulk
If you’re following Government guidelines on staying at home and observing social distancing, you’ll be aware that shopping trips should be kept to a minimum and done by one member of each household.
To try and save money, go with a list so you aren’t tempted to buy any products on offer, and look for the bargains. Items should show how much they cost per 100g and you may be able to bulk buy to save more money in the long run. It’s also worth checking the reduced/yellow sticker area for any discounts on items that will soon be out of date. If you cook or freeze them straight away, they’ll be fine to consume.
Once you’ve got all of your food packed away at home, draw up a meal plan for the week and aim to cook dishes that can be produced in large portions so you have enough for future dinners and lunches. If you want to mix things up, you can always freeze meals and save these for a rainy day; you’ll save loads of time each week.
We hope you are staying safe at the moment, and that these tips can be of some help to you. Let us know how you are getting on with saving in the comments below or on social media – we’d love to hear from you. If you are looking for debt help in the meantime, please call an adviser on 0800 280 2816.
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