A deals expert has issued his 12 hacks for saving £1500 on your spending at the supermarket, on your energy bills and Netflix subscription.
Tom Church, co-founder of LatestDeals.co.uk hasshared12 money-saving tactics that are popular amongst the money-saving community.
The 12 terms, which have been coined by Tom, describe approaches extreme deal hunters take to save cash.
Alongside the hacks, the deal hunter commented: "I want to change how people think about saving money from something boring to a fun challenge.
"My tips here range from the basic, such as Budget Batching, to the more advanced, like FinancialForaging. Just the latter tip alone saved me over £1,500."
How to save money on shopping
Budget Batching
Tom urged Brits to prepare meals in large quantities to save on groceries and reduce impulsive food purchases.
The saver recommendedMary Berry's Cook Now Eat Later, and Suzanne Mulholland's The Batch Lady Grab and Cook for some kitchen inspiration.
The Co-founder commented:"These cook books got me into prepping meals for the week ahead.
"I've found that I save time and money, especiallyby avoiding impulse buys.
"Buying in bulk can save you money as you take advantage of supermarket deals, and you could also try shopping at wholesalers like Costco and Bookers which seller larger packs for less.
"I've found Budget Batching saves about 20%, or £14 a week (£56 a month). However you can save a lot more if you combine it with Cashback Stacking and Sticker Hunting, keep reading!
Sticker Hunting
Shoppers should also start searching supermarkets for reduced to clear yellow, orange, or red stickers.
Tom explained: "I coined this term when playing with my son in the supermarket.
"It's a fantastic way to get kids involved in the shopping. Tell them to search for the yellow, orange, or red reduced stickers.
"They absolutely love it and usually there's a yoghurt or pud reduced for them as a treat.
"Buying reduced-to-clear products gives serious savings too.
"With products up to half price, you can save up to £30 a week (£120 a month)".
Magic Bag Dinners
Another way to save is buying left overfood from the Too Good To Go app, Tom recommended.
The saving expert suggested the free app since itconnects you to restaurants, cafes, and supermarkets to buy left oversat a reduced price.
He went on to say: "They're called Magic Bags as you don't know what you're going to get. It's hit and miss, but with the average price of £3.99 for £15 worth of food, it's a massive saving if done regularly.
"If you do three times a week that's a £33 saving (£132 a month)".
Seasonal Stockpiling
The LatestDeals co-founder also urged Brits to buy seasonal items off-season (like Christmas decorations in January) for deep discounts.
He continued:"Christmas decorations in January. Valentine's day on 15th February. Easter eggs mid-April. Mother's day late march.
"Whatever the occasion, if you buy stuff straight after you can get serious discounts. Pop them in a container then into the attic for next year.
"I even stockpile on reduced-price cards. Don't tell my mum but I have a stash of a dozen Mother's day cards.
"One year, I even bought clearance Easter eggs and melted them down into regular bars.
"You can even find seasonal clearances online. Deal hunters share them, such as forMother's day, on online forums like Latest Deals".
Warranty Warding
Tracking product warranties means you can avoid unnecessary replacements or repairs, according to the money-saving community co-creator.
Tom elaborated:"You see it on products all the time: "5 Year Warranty!" But when have you ever remembered to use it?
"I use sticky labels to write the date I bought the product and the date the warranty ends. I stick it on the back.
"Take care to register products where necessary, and maintain a file containing the details (it can just be photos on your phone stored on a photo album).
"It's a tiny bit of admin as you unpack aproduct, but in a fewyear's time when your washing machine breaks, or TV stops working, or coffee machine packs-up, it can save you hundreds of pounds".
How to save money on streaming platforms and subscriptions
Stream Hopping
Another term that Tom has coined 'Stream Hopping' involves subscribing and unsubscribing to TV streaming services so you never have more than one active.
The savvy shopper explained the term: "Netflix, Disney+, Apple TV, and Prime Video have all gone up in price.
"Stop paying for more than one. Instead, create a watchlist on a free app like JustWatch, and focus on series that are all on the same platform.
"Then, when you've finished them, unsubscribe from the streaming platform and switch to the next one. This is stream hopping".
Subscription Strip Test
Tom also suggested that you should try unsubscribing from subscription services to see if you miss them.
He shared an example that he once hada subscription to Nespresso coffee which cost £50 a month.
The saver added: "I cancelled it and reverted to using a cafetiere (French press). I didn't miss it and never went back saving me £600 a year.
"On the other hand, I tried cancelling Amazon Prime buta few months laterI ended up re-subscribing.
"The idea is to test and see how much you actually miss them".
Can I stack cashback?
Cashback Stacking
Cashback stacking means maximising the use of cashback offers on credit cards, bank accounts, and apps for all purchases, Tom explained.
The expert added:" You've heard of cashback, but Cashback Stacking? This is where you combine multiple cashback and reward schemes together.
"For example, say you shop at Morrisons online. You can get cashback via Quidco or Topcashback and others.
"But if you also pay with certain bank accounts or credit cards you can get an additional cashback on top.
"Combined with Morrisons' reward scheme Morrisons More, you get even more money back.
"Other ways to stack can be if you have public service discounts, such as NHS, who get free online delivery passes and exclusive offers at Morrisons".
How to save by using forgotten assets
Tom also shared the term 'Financial Foraging' which involves searching for forgotten assets, such as old bank accounts, pension funds, or investments, to reclaim money.
The saver admitted: "I completely forgot about my first job'spension plan. 10 years later, I did some Financial Foraging and found it: £1,550!
"There are lots of services out there now that help you find old pensions.
"But go through your phone apps, emails, and files to discover any forgotten bank accounts, saving pots or old investments.
"Maybe you've got a Bitcoin stashed away you forgot about, now worth $60,000!"
How to save on bills
Bill Busting
Tom also broke down how you save a bit on your bills. For instance, he recommended 'Bill Busting'.
This involves you negotiating bills regularly to get better rates on services like internet, mobile plans, and insurance.
He elaborated: "Create a calendar alert a month before your annual bills renew.
"Call your internet, mobile, and insurance providers and threaten to cancel.
"Almost always they have procedures to offer you a discount to keep you as a customer. It helps if you've researched cheaper plans ahead of time.
"Latest Deals has free price comparison toolsfor all these services. Last year BT dropped my bill from £35 per month to £29".
House Hacking
Another way to save on costly home improvements or repair bills could be taking them on yourself - with the help of Youtube tutorials and Facebook Groups!
Tom commented:"I started theDIY On a Budget Facebook Group(150k members) after being inspired by Hack My Home on Netflix.
"Whatever you want done in the home, someone will have done it before.
"Facebook Groups are a great place to ask for advice, and often from professionals. YouTube tutorials can solve the rest.
Recommended reading
- 8 steps you should take to help you save £100s on your subscriptions
- Brits could save up to £200 a year on broadband bills by making this change
- Bargain hunter reveals when to shop at Asda, Aldi and more for discount stickers
"It's difficult to put a figure on it, but some members have saved tens of thousands doing their own kitchen, bathroom, and home renovations themselves.
"Latest Deals has dozens of interviewswith members showing off their house hacks".
Become Watt Wise
You can also reduce your energy costs by understanding how much a watt of energy costs you as well as by purchasingenergy-efficient appliances.
The expert shared:"The average cost of electricity in the UK is 24.5p per kilowatt hour (kWh). There are 1,000 watts in a kilowatt.
"So 1 watt costs £0.00025 per hour. A old fashioned 100 watt bulb therefore costs £0.025p per hour. You might find that surprisingly low, and it is. TVs, computers, light bulbs... they all use surprisingly little energy, and you won't save much money at all by turning them off.
"The things that use the most are anything to do with heat. Kettles, washing machines, dishwashers, tumble dryers, fridge freezers, electric boilers.
"Big appliances in the UK should come with rainbow-coloured energy ratings from A - G. On the websites, if you click on them they open up the energy label that explains how much electricity they use.
"A Samsung Series 5 Ecobubble 9KG washing machine, for instance, uses 49kWh per 100 cycles,or 0.49kWh per cycle. You know then, that it will cost you 0.49kWh x 24.5p = 12p per cycle to run.
"You can use this knowledge when choosing appliances to calculate ongoing energy costs".
