Saving money quickly requires two things: reducing what goes out and increasing what comes in. The fastest results come from combining both — cutting the largest unnecessary expenses while finding ways to boost your income, even temporarily. Here are 20 practical ways to build your savings faster.
Cut your expenses
1. Cancel unused subscriptions. Go through your bank statements and cancel anything you haven’t used in the last month — streaming services, gym memberships, apps, delivery passes. These add up quickly.
2. Switch energy tariffs. Compare on uSwitch and switch to a cheaper deal if one is available. Even a small reduction in unit rates saves money every month.
3. Reduce your food bill. Switch some shopping to Aldi or Lidl, buy own-brand products, and meal plan for the week. See our full guide to saving money on groceries.
4. Stop eating out for a month. A single month of cooking at home instead of eating out or getting takeaways can save hundreds of pounds — money that goes straight into your savings.
5. Renegotiate your broadband and phone. Call your provider when your contract expires and ask for a better deal. If they won’t match competitor prices, switch.
6. Compare your insurance. Run your home and car insurance through comparison sites at renewal. Switching providers often saves significantly more than staying loyal.
7. Use cashback sites for purchases you’d make anyway. TopCashback and Quidco pay cashback on purchases from hundreds of retailers. Activate cashback before buying anything online.
8. Reduce your coffee and lunch spend. Bringing lunch from home and making coffee at work instead of buying it daily can save £100–£200 per month for many people.
9. Walk or cycle instead of driving or using public transport. For short journeys, eliminating a weekly travel cost adds up meaningfully over a year.
10. Use the library. Books, audiobooks, e-books, films, and magazines — available for free with a library card, replacing paid subscriptions.
Boost your income
11. Sell things you don’t use. eBay, Vinted, Facebook Marketplace, and Depop are all effective for selling clothes, electronics, books, furniture, and household items. A clear-out weekend can generate hundreds of pounds.
12. Check you’re not overpaying tax. Millions of UK workers are on the wrong tax code. Check your payslip — if your code doesn’t look right, contact HMRC. Overpaid tax is refunded in full.
13. Claim benefits you’re entitled to. Use entitledto.co.uk or Turn2Us to check whether you’re missing out on benefits, tax credits, or council tax reductions.
14. Rent out a room. The Rent a Room Scheme lets you earn up to £7,500 per year tax-free by renting a furnished room in your home.
15. Take on overtime or extra shifts. Even a few additional hours per month can meaningfully accelerate savings, particularly if that extra income goes directly into a savings account before you can spend it.
16. Freelance your skills. Writing, design, coding, tutoring, photography, bookkeeping — many professional skills can generate additional income through platforms like Fiverr, Upwork, or direct outreach.
17. Participate in paid surveys and research. Prolific Academic, YouGov, and Pinecone Research pay for opinions and research participation. Income is modest but genuinely passive.
18. Use matched betting. Matched betting exploits bookmaker free bet offers to generate tax-free profit. It’s not gambling in the traditional sense — the maths guarantees a return regardless of outcome. Requires time to learn and execute, but can generate meaningful income.
Make your savings work harder
19. Move savings to a competitive account immediately. If your savings are earning less than the best available rate, every day they stay put is money lost. Use our savings calculator to see what you’re missing and our guide to the best easy access savings accounts to find a better home for your money.
20. Automate savings on payday. Set up a standing order to move a fixed amount into savings the day you’re paid. Money that leaves your current account immediately is money you won’t spend — the single most effective habit for consistent saving.
Frequently asked questions
How much should I save each month?
Save as much as you can afford after covering essential expenses. A common target is 20% of take-home pay, but any amount is better than nothing. Start with what’s achievable and increase it gradually.
What’s the fastest way to save money in the UK?
The fastest combined approach is: cancel all unnecessary subscriptions today, switch your grocery shopping to Aldi or Lidl, sell items you don’t use, and automate a savings transfer on payday. These four actions alone can save £200–£400 per month for many people.