If January is the best time for people to pay off debts and reassess their finances, the return of spring is arguably the best time to put plans in place to try and start saving money.
In this article, Greg Potter, Head of Member Experience at Leeds Credit Union, takes a look at some of the different ways people can both save and make money in order to help them improve their finances.
Saving money
Your food shop
With food among the largest expenditures in most households, now is the perfect time to explore how you could spend less at the supermarket.
The simplest way to do so is to start shopping at Lidl or Aldi – the two cheapest supermarkets in the UK. In January 2025, a basket of 100 everyday items in Aldi cost more than £19 less than at Asda.
It’s also worth remembering that all supermarkets reduce the prices on products that are about to reach their sell-by-dates, so try to shop after 6pm and keep your eyes out for items with yellow stickers – they may be reduced by as much as 80%.
Monday and Saturday evenings are the best days to find a bargain.
Your mobile phone
To make sure you’re not overpaying for your mobile phone, explore the possibility of switching from a contract to a SIM-only deal, which are often cheaper in the long run compared to contract agreements because you’re not paying back the cost of a new smartphone.
Buying a handset outright – or using one you already own – and opting for SIM-only allows you to choose any provider and pick the minutes, texts and data you need, making it easier to only pay for what you use and reducing your monthly outgoings. Shop for the best current SIM-only deals at uswitch.com.
Making money
If you’ve got some spare time on your hands, you could make more money with some of these easy tips!
Sell parking spaces
If your driveway often has no car parked on it, why not rent it out? Websites like justpark .com allow you to do just that, making it a quick and easy way to make extra money without having to lift a finger.
Get paid to do simple tasks for people in your area
From planting flowers to lifting furniture or cleaning kitchens, websites like airtasker.com and taskrabbit.co.uk connect people who need simple tasks completing with people who are happy to help them, enabling you to make extra money, fast.
After registering, you simply reply to people who want tasks doing with an offer (eg you might offer to walk someone’s dog for £10) and if they accept your offer, the job – and money – is yours.
Have a clear out
For a quick cash injection, it’s never been easier to sell unwanted items online through websites like eBay, Gumtree and Facebook Marketplace. Go through your house, loft, garden and garage and if you find anything you no longer want, need or use, sell it.
Tax
HMRC will let you earn up to £1,000 per year tax-free from ‘side hustles’. Above that you they may need to complete a Self Assessment tax return. You can check your tax obligations using HMRC’s new easy-to-use guide at taxhelpforhustles.campaign.gov.uk.
Leeds Credit Union provides straightforward and affordable financial services to people in Leeds.
Photo: Shutterstock
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