What are your best money saving tips on a single income?

[Lookatmeimsandradeeee]

No, not a reporter and no, I’m not writing an article for the Daily Fail (or any other publication)....

A change in circumstance means I’ve been reviewing our family budget. I’m a SAHM and DH works away earning our sole source of income (no additional income from tax credits/benefits etc.).

I feel like I have a good grip on the well-known stuff like always shop around for Insurance at renewal, manage payments by Direct Debits on payday etc... but I’d love to know/hear of anyone’s ‘must-do’ tips that have helped them save cash/lessen spending etc?

Only one I can think of (that I’m doing) is now making a list (also attempting to meal plan) and doing my weekly shop online to avoid buying stuff I don’t need...an trying to make do and mend as much as I can as and when but does anyone have any gems??

One way I cut my shopping budget quite a bit was by online shopping. I'm not tempted by offers and once you build up a list of things you buy often I find I don't go looking for other things I don't need/want.

Save your grocery receipts for a month and do an analysis of all the items you buy, what they cost, the categories they fall into, and what gets wasted or runs out regularly. Use that to make a plan for the wasted food (stirfry, soup, pickles, ragu), and also use the results to work out what's worth buying in bulk/how often. This saved us 25% on our groceries.

If you are really good with credit cards and your income is reliable, consider a cash back credit card. The accumulation on ours covers a month of food and petrol at the end of the year. However, we never let a balance hang.

Audit your fixed expenses- write down every bill/contract. Use comparison websites/call the companies to get better deals.

Cut consumption where you can- don't use the tumble dryer, wash on 30c, unplug everything unless you're actually using it, never have the TV on in the background, time your showers/do basin washes, and be stingy with the heating.

Be lame and record everything in a spreadsheet, the more you can see it, the more you will control it!

I know it’s a cliche but look after the pennies and the pounds will look after themselves. My grandfather told me this when I was a child and I took it very seriously! When my sisters and friends would spend their “pennies” on, well, crap... I didn’t. I saved up for something better or just saved.

It works. It’s an ingrained habit. I rarely spend just because something is cheap, like in Aldi or Lidl non food aisles! (DS treats aside because he’s too little to understand yet.)

It really is amazing how those little items add up. Read magazines online, forgo the bar of chocolate, admire those little trinkets in the shop... no need to take them home!

Like another poster said, cashback sites, I use topcashback for any online purchases.

Also use the app, ‘checkoutsmart’... you buy said items (if you want them), take a picture of the receipt then the money is out into your account when requested. If you’re really savvy you get some awesome deals and lots of freebies on there. Also coupons galore! Look in local paper and I second going to shops before close. Get some reduced bargains then freeze

I also love a good carboot! 😁

Make sure you get child benefit.

What is child benefit? (I mean I know what it is but what is the threshold?) I presume the OP would have to apply to see if she qualifies...

Make sure if your DH is working in the forces/nhs, etc, you are getting all the discounts and offers you're entitled to we never used to do this, and honestly we've wasted so much cash over the years.

Get a credit card that offers points back that can be converted into cash, the NatWest rewards card for example. I think you can even link up your debit card and get points for contactless transactions and spending in certain places.

Only buy what you absolutely love. Especially applies to your wardrobe, it's easy to fritter away money on a sale dress that looks alright but never gets worn.

Oh. And if you have food delivered to your house, try to do 14 days with of stuff in one order. Saves you £5-10 a go as you aren't wasting money on delivery fees every single week.

In theory child benefit is tapered when your DP starts earning above £50,000 ( if they earn above circa £60,000 there is nothing to be claimed). However, even if your partner earns above £60,000 claim CB in the SAHP name so then their NI contributions will be recorded in their name ( up till youngest child turns 12). SAHPs not registering for CB and losing out on NI contributions has been an issue (BBC ran some articles on it a while back). This is for PP.

yoyo1234 thank you

I am in the same situation as you, and I find that the tax system in the UK is extremely unfair for families with a single earner or where the two parents earn very different incomes. In most countries couples are given the choice whether to file their tax as separate individuals or be taxed together on their combined income. This is the only fair way to tax income, by taking into account how many people depend on that income.

It is unbelievable that while single people without dependents enjoy some of the lowest taxes in the western world, families are effectively taxed much higher than in other countries (up to 70% more, for example, than in Germany!). Families have the biggest burden in the current tax system and it is driving some middle income people into poverty.

Please take a look at this active government petition that is asking the government precisely to do this:
petition.parliament.uk/petitions/216429

And more info here:
www.telegraph.co.uk/women/mother-tongue/8365211/Britain-worst-place-for-tax-burden-on-single-earner-families.html
www.theguardian.com/commentisfree/2017/jul/11/single-income-families-inequality-workers-fathers-earnings

wait until second phase of smart metres that can be moved from one energy provider to another, when you find a better deal.
Then watch your consumption in realtime, a friend halved her bill.
Beauty treatments and haircuts very cheap at local college, qualified up to level 3, just the same as many salons, just not as experienced yet.

Good suggestions from everyone. My suggestion is everything5pounds for clothes, it’s an outlet for last year’s high street clothes stock.

DIY takeaways is great as well if you/the kids crave burgers for example. Making veggie burgers in burger buns with cheese, lettuce, tomato, sliced gherkins/pickles and ketchup with oven chips saves money from buying a burger and chips each.