Saver manages to accumulate £650 by utilising simple shopping habits

Savings accounts are struggling across the UK as interest rates hit lows across the board. It is becoming harder to save money using traditional methods as they will simply not provide enough of a return. Inflation will quickly eat away at any money left in bank accounts and as such, many people will look into their spending habits to see if money could be saved there.


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Reddit user “Explorer1007” reached out to the community for help in this area.

As they detailed: “I want to build up an emergency fund so I’m trying to be as creative as possible when it comes to finding ways to save money. What’s your biggest money saving tip?”

They detailed that they have already taken certain actions to save money elsewhere including switching energy providers and setting personal budgets.

Many of the responses to the question focused on similar themes of shopping around for the best deals.

However, one tip in particular proved to be both simple and brilliant.

User “Chileris” revealed that one of the best things a person can do is to limit some of the purchasing trappings that come with modern life.

One key example is the usage of contactless payments, as they highlighted could bring anyones efforts crashing down:

“We decided to stop using contactless as we found it far too easy to just tap tap tap studies have shown that if you don’t physically hand over cash, you sometimes don’t associate tapping with spending and end up spending more.”

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Going back to payment basics proved to be useful for this user, as they continued:

“Anything under £30 is paid in cash which usually means making a decision in the shop of “do I need this enough to go and find a cash machine and come back?” If yes, then buy it (and it ups the step count, winner!). If no, put it back and walk away.”

This may seem too simple to make a substantial difference to a persons finances but Chileris highlighted that it can make a real difference if combined with other strategies:


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“Adding to that last year I didn’t spend any coins which were given as change.

They all went in to 1 bank account which we dip in to for birthdays and Christmas presents.

Last year we had approx £650 aside towards Christmas! In previous years that would have been spent on all sorts of random rubbish we didn’t need / snacks etc.”

Many of the responses sympathised with the persons predicament, highlighting that trying to save money has become an issue for many.

The government seems to acknowledge that this is a difficult thing to do for many and as such, they offer various saving products with helpful perks.

ISA accounts are available in many forms which offer people tax free returns and in some cases, bonuses on their money.

They also provide “help to save” accounts for financially struggling individuals, which provides a bonus of up to 50 percent on money saved.

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