Top savings tips for 2022

Published: 15 June 2022

With the cost of living on the rise for 2022, it may feel more difficult than ever to set money aside for those inevitable rainy days.

You may be feeling in a position where you lack the sufficient funds or level of motivation you think it takes to start saving money. However, having a pot of cash stored away for emergencies is crucial for our financial wellbeing as well as our mental health.

When the pandemic hit, many British households had the opportunity to save money they wouldn’t normally be able to each month due to limited social opportunities.

Although, as restrictions started to ease in 2021 and 2022, it has once again become increasingly difficult to contribute to a savings pot.

If you are feeling like saving money is a struggle, we’ve put together our top saving tips for 2022 to help you get into the habit:

  • Get rid of unnecessary commitments

Maybe it’s time you evaluate some of your spending habits. Set some time aside to think long and hard about how much you spend on monthly subscriptions.

While some subscriptions may be considered essential to you, either for enjoyment or to make life a little bit easier, is there something you could live without? Now that the shops are back open, do you need next day delivery?

Search your bank statements to work out where your money is going. You may realise that you are paying for a service you no longer use or require.

  • Spend less on utilities by looking around

Shopping around for a better deal is the key to reducing your utility bills. After all, why would you want to pay more if you could get something for less? This includes phone, broadband, mobile phone contracts, and any insurance premiums.

Looking around for a better option could end up saving you hundreds of pounds in the long run.

  • Enjoy a low-spend week or month

Another idea is having a week or month where you cut everything back and keep spending to a minimum. Doing this will help build up your emergency fund and will train your mind to look for the possible savings.

A low-spend week, or month, means only spending money on essentials. This doesn’t include drinks or meals out with friends, takeaways, holidays, or weekends away. Start small with just a week, and see what you can achieve.  Then the following month try again. After all every small step can help, and you might find a new way to spend your time together for that week.

  • Empty your cupboards

Instead of buying new all the time, empty your cupboards out entirely and use up those tins of soup or baked beans that are taking up space. Before buying groceries, think about what you already have in the cupboards.

  • Switch off not standby

Did you know that every appliance left on standby is spending money.  Why, when switching it off at the wall is a simple thing to do every time you’re finished.  From the kettle to the micromave, to the TV and all of the attached gadgets.  When you don’t need them stop them spending your money and switch them off.

  • Make do and mend

For example, if you own an old pair of shabby-looking jeans, why not re-dye them instead of buying an entirely new pair? T-shirts and shirts can be customised to give them a new lease of life.

The same goes for electronics. If they are repairable, it makes sense to pay less to get things fixed rather than buy new products. Especially as electronics are often expensive.

  • Keep a change pot for treats

Every so often, throw your loose change into a pot and allow yourself this money for buying treats. It will soon add up and it is a great way to reward yourself for managing to save more.

  • Stay on top of your finances

Plan what is going in and coming out of your account each month and mark bills off as they come out to keep track. To help, you could use an accounts book or a simple spreadsheet to see your situation at a glance.

Keep all savings separate to your current account to prevent temptation of dipping into the money you had set aside to save. Check out our savings account options here.

Only use a credit card if you can afford to pay the money back without interest.

  • Make a list and stick to it

An incredibly simple but effective money saving tip is to make yourself a list of what you need to buy each month and strictly stick to it. That way, you will have a collated list of everything that is essential rather than things you want.

If it isn’t on your list for the month, don’t buy it. This will end up saving you quite a lot of money long-term.

For help with opening a savings account or for money saving advice, don’t hesitate to contact us on 01325 366 366 or email us at

Alternatively, pop down to your local branch.