Budgeting

Here are some tips that could reduce your outgoings:

• Shop smarter by switching supermarkets, exploring cheaper stores, or shopping around 6pm when prices are heavily reduced
• Try dropping one brand level – pick a cheaper alternative instead of the top brand, and if it’s not for you, you can always switch back
• Review your Direct Debits – check for unused subscriptions like gyms or streaming services and cancel anything you don’t need
• Use comparison sites when renewing insurance or energy contracts – it’s a great way to check if you’re getting the best deal
• Keep your current phone and switch to a data-only SIM – it’s an easy way to cut monthly costs if your handset still works well
• Plan a no-spend day – challenge yourself to go a whole day without spending anything and see if you can make it a regular habit
• Get cashback on your spending – join free sites like Quidco or TopCashback to earn money back when you shop online.
• Don’t ignore your debts – if you can’t clear your credit card balance each month, consider switching to a card with zero or lower interest to avoid high charges.
• If you need to borrow money, avoid payday lenders and choose an ethical option like North East Credit Union, where you can access a £350 loan at 0% interest.