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MoneyMagpie Highlights Key Areas for Potential Household Savings

MoneyMagpie has identified ten key areas where households may find significant savings, including reviewing automatic payments, energy bills, and eligibility for financial support.

  • MoneyMagpie suggests checking for unclaimed benefits, grants, or other financial support.
  • Reviewing energy bills, including tariffs and meter readings, is highlighted as a potential saving area.
  • Households are advised to examine recurring payments for forgotten contracts and subscriptions.

MoneyMagpie has outlined 101 practical ways to save money in the UK, prioritising ten specific areas for households to investigate. These areas focus on larger potential savings rather than minor cutbacks.

Among the top recommendations is checking eligibility for benefits, grants, or other financial support, as circumstances and entitlements can change. Households are also advised to thoroughly examine energy bills, including unit rates, standing charges, and account balances, and to compare tariffs.

Another key area involves reviewing automatic payments for forgotten contracts such as streaming services, gym memberships, and mobile plans. MoneyMagpie also suggests changing food shopping habits by comparing regular baskets, checking unit prices, and experimenting with supermarket own brands, rather than simply buying less.

Further advice includes ensuring correct council tax payments, as some households may qualify for discounts or reductions. Families are encouraged to prioritise investigating available support for childcare and school-related costs, which vary across the UK nations.

Why this matters: Focusing on larger household expenses and potential financial support may lead to more substantial savings than minor daily cutbacks.

What this means for you: You may be able to find significant savings by reviewing your household contracts, energy bills, and eligibility for financial support.

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