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2025. The start of a brand-new year, and the time when we set resolutions and make goals. Saving money is a top resolution for lots of us, and with good reason - who doesn’t want to keep more cash?

Whether you’re saving up for a big purchase, clearing debts, or just trying to stretch your pay packet further, 2025 is a great year to get serious about saving. To help you on your way, we’ve rounded up five easy tips that can make a real difference to your bank balance.

 

1. Take some time to budget.

 

 

If you don’t already have a budget, now’s the time to create one. It might sound like a boring task, but trust us - it’s the key to successful saving. A budget gives you a clear picture of where your money’s going and helps you identify areas where you can cut back. Here’s how to get started:

  1. List your income.
  2. Track your expenses, from essentials like rent and groceries to all those coffee runs.
  3. Subtract your expenses from your income to see what’s left.

Once you’ve laid it all out, you’ll quickly see where you can make changes. Are those streaming subscriptions piling up? Could you batch-cook instead of ordering cheeky takeaways? A great tool to use is the Money Saving Expert Budget Planner. It’s free and really easy to use.

 

2. Switch and save on utilities.

 

 

Gas and electricity prices made headlines last year. And for lots of us, they’re still a bit of a headache. The good news? Switching providers can save you a chunk of cash. Services like Octopus Energy offer competitive rates, plus you can often snag referral discounts. Here’s a link to get you started.

Now let’s talk about your internet. Did you know you could save on broadband too? iD Mobile offers Unlimited Data SIM Only deals starting from just £15 a month, and if you pair it with a mobile router from Currys, you could have a budget-friendly Wi-Fi solution. Better yet, pop into your nearest Currys store - they can help you switch broadband providers to find the best deal.

 

3. Switch to iD Mobile.

 

 

We know most of you are already part of the iD family, but if you’re not… what are you waiting for? By seeing the light and switching to iD Mobile, you can save an average of £240 a year compared to major networks. Prefer a SIM Only Deal ? iD Mobile customers save an average of £15 a month compared to other providers. That’s £180 a year!

Already an iD customer? Take a look at your current plan - you might find that you’re eligible for an upgrade or plan change that saves you even more.

 

4. Get paid to switch banks.

 

 

Switching banks might sound like a hassle, but it’s never been easier. And some banks will even pay you to move your account. That’s right - free money just for making the switch!

Check out the latest offers on the Money Saving Expert Bank Account Comparison. Quite a few banks offer bonuses of £100 or more, and some throw in extras like cashback on bills or free overdrafts.

 

Bonus tip: Before switching, make sure you’ve got any Direct Debits or regular payments noted down so you can check they’ve all transferred correctly.

 

5. Get smart with shopping deals.

 

 

Whether you’re shopping for groceries, gadgets, or gifts, there are loads of ways to save. Here are three fantastic tools that are worth checking out:

  • Hotukdeals: Find the best sales and discounts on anything from tech to travel.
  • TopCashback: Earn cashback on your purchases from a huge range of retailers.
  • Honey: Automatically find and apply discount codes while you shop online.

The trick here is to avoid impulse buying just because something’s on sale. Make a shopping list, stick to it, and use these tools to save on what you genuinely need.

 

Wrapping up…

 

 

Saving money in 2025 doesn’t have to be difficult or time-consuming. It’s all about making small, smart changes that add up over time. From budgeting and switching utilities to making the most of cashback sites, there are plenty of ways to make your bank account feel better.

Now it’s your turn. What are your best tips for saving money?

Share them with the community in the comments below - your advice might just win you a Hive Smart Thermostat & Hub!

Entries close on 20th January 2025 at 23:59. The winners will be chosen at random and announced shortly after, so keep an eye on your inbox or DMs for a message from us. 

Be honest with how much you’re spending and what your money’s actually going on. It’s really easy to put your grocery budget at £100 a week, but if you’re getting a load of specialist ingredients delivered twice a year from an internet company, or you regularly run out of milk and have to buy a pint or two before the “big shop”, you have to include that, or you’re not seeing the whole picture. Our grocery spend is uneven because we bulk-buy oil, flour, spices, etc from the Asian supermarkets a few miles from us. So we spend an extra £50-70 one week, but we save more than £150 over the next few months doing that. Keeping an accurate budget is a bit of a challenge in those circumstances, but if we don’t, we’re not giving ourselves the information we need...

Budgeting is a big one.

Only buy things that are absolutely necessary.

Shop around (and know your prices)

I have also recently started doing surveys to earn vouchers towards the weekly shopping 

A great way to get extra benefits from your spending when using cash back websites is to pay using a credit card that gives you cash back or airline miles as well. Just remember to pay your credit cards off in full so you gain the full benefits.

I find shopping around and only buying stuff you need is really helpful. Also selling unwanted items through selling sites helps declutter and bring back some needed cash!

Use lots of frozen vegetables not fresh 

Put things in your basket or wish lists then leave them for a while, the company your buying from may send a voucher code to get you to buy, saving from hard earned cash

On the theme of heating the home (& thermostats), turning your boiler’s flow temperature down has been proven to improve efficiency, thereby reducing your gas bill, whilst still heating your home to a comfortable temperature. The Energy Saving Trust suggests that setting your boilers central heating flow temperature to 60c is often the sweet spot, but using trial & error is best, well-insulated homes may find 55c sufficient, whereas older properties may require a higher temperature. Source & further advice: Energy Saving Trust

Avoid takeaways.

I highly recommend the 1p challenge on money saving experts website. I have done it the last few years and find it brilliant to help me save! 

I put a little away each month. Usually that might only be £5 or £10 but it def helps! I also turn off lights in rooms we are not in and use cashback sites. 

 

Shop Smart-Look for sales, use coupons, and compare prices before making purchases. Sometimes waiting for a sale can save you a significant amount.

Plan your meals weekly.

get your groceries online to avoid being tempted by in store offers for stuff you don’t need.

Work out roughly your budget for the month and transfer the surplus into savings at the start of the month.

Dont just use a current account that’s free, look at ones with a small monthly fee that offer cash back on utilities/fuel/groceries etc.

Try to use your max ISA allowance.

Give yourself a daily/ weekly budget, bulk cook and freeze 

I’ve started taking cash out to budget, to avoid using cards and subsequently overspending. It’s quite drastic but it works!

 

My tip is to renew your phone contact to a SIM only deal if your phone is still in good condition

I use a bank account that gives me options for pots. I budget by using these pots to save money for things I must have each year. Insurance has a pot, as does holiday and presents. And of course I have one for my monthly spending so I can easily track how it goes each month. Works a dream for me.

Save little and often. Lots of banks have a round up function on your card. It'll automatically round up any spending to the nearest pound and add it straight to a savings account

I wish I had some tips on saving money, but as a 23 year old in my first year of renting my first home, working full time, and trying to run side hustles to make extra money, I have absolutely no room for savings, no extra funds to put away each week/month, and last year it was so draining and depressing. This year I’m trying the £1500 savings plan, where you save £1 a day and then double it I believe, anyway it’s £28 a week, doesn’t sound like a lot, and I’m going to try with every bone in my body not to touch it and hopefully by the end of 2025 I’ll have £1500. That will be the first time I’ve ever saved, I have no money for a house, just spending it all on rent & bills. So that’s my “advice”, which is slightly pathetic of me! I just really wanted to enter for the hive 😂

Grocery shop online and filter for offers.  If you have the space go big when it maximises savings on products that don’t go off.  Get the clubcards (or equivalent) for extra savings.  Use the voucher codes, honey etc type apps.  

Buy used items of clothing. Get branded goods at a fraction of the price and sometimes brand new.

Don't go shopping when you're hungry, if you're buying something on the internet on an impulse, put it in the basket and go back to it the following day, then look at it and ask yourself, do I actually want or need this, 

I’ve switched to IDMobile on a money saving deal and did it through my Cashback account to save even more. 
I also use my ‘big’ appliances when I’m offered half price electricity by my energy provider. 

Budget, use spread sheet to keep track of money coming in/out. If possible wait for sales for big purchases. Never go grocery shopping hungry,you will end up buy unnecessary food.

Best saving 

Use energy sockets or light bulbs also great idea is using radiator reflector foil to deflect the heat 

Always shop around for insurance 

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