Money
My five ways to save £372 a year with simple hacks when tidying your home
CLEANING your home is a dreaded chore most of us hate to tackle.
But you could be spending hundreds of pounds more than necessary to get your pad sparkling, according to one expert.
In the lead-up to the festive season and the ongoing high cost of living, every penny counts.
With a few simple tidying and cleaning tricks, you can make some big savings sprucing up your living space, according to specialist cleaning and home organisation expert, Heidi Phillips.
She owns cleaning firm Tergo Specialist Cleaning. You can find her on Instagram @tergospecialistcleaning.
Here she shares her top tips…
Read more on cleaning savings
USE OWN-BRAND – £85 a year
Own-brand cleaning and laundry products are a snip of the price of branded items and usually do the job just as good.
Consumer brand Which? found that the most expensive laundry detergents can cost 53p a wash while switching to a own-label powder is just 12p a wash.
Using your machine four times a week would save £85 at these prices and even more if you us your machine daily.
And it’s not just laundry, Heidi says: “You can save loads of money by ditching the big-name cleaning brands and using a supermarket’s own-brand range.
“I really like Sainsbury’s own-label, it works really well and smells divine.”
DITCH DISPOSABLE WIPES – £156
A branded pack of antibacterial wipes comes in at around £3 – if you go through a pack each week that amounts to a whopping £156.
However, they are totally unnecessary.
Heidi says: “Disposable wipes are very expensive and you can just as easily spray a cloth with a bit of anti-bac and it will do the same job.”
Sainsbury’s antibacterial spray is 85p and you can just rinse a cloth and spray.
BAN DISPOSABLE SPONGES – £58
You can also get rid of disposable sponges for wiping and light cleaning.
A pack of two comes in at £2.25 meaning if you used one each week, you’d end up spending around £58 in a year.
Even reusable microfibre clothes are another expense that you can cut out. A pack of five is £4 from B&Q.
Heidi says: “You can save money on cloths by cutting up old clothes that are heading for the bin. T-shirts work really well.”
AVOID SPECIALISED PRODUCTS – £48
You can get specialist cleaning products for just about any task but these tend to be expensive.
For example, some of the branded kitchen or bathroom-specific cleaners are £4 a pop – buying just one of those each month amounts to £48 a year.
And there’s a cheap alternative that we all have sitting at home already.
Heidi says: “Much of the time you don’t need specialised products.
“Washing-up liquid is absolutely amazing for getting rid of grime and you can follow up with a couple of sprays of anti-bacterial to make sure you’re getting rid of any germs too.”
Own-brand washing-up liquid is under a £1 at most supermarkets.
There is also another way to avoid have to use specialised products for limescale or mould, which again can be pricey.
Heidi says that simply cleaning more regularly will mean you’re less likely to get build-up which requires expensive specialised products, and possibly more specialist tools.
She added: “For example, if you clean the bathroom every week you can easily take care of a small bit of mould but if you let it go on, you’ll start to need black mould cleaner.“
CLEAN YOUR DRYER – £25
Consumer group Which? tested a range of tumble dryers and found that after 20 loads of washing, some used 50% more energy on the last load compared to the first.
This was simply because of the filter getting blocked with lint and dust reducing the machine’s efficiency.
The group found the average achine costs £50 a year to run but this could be £25 higher if the energy use increases by half.
Simply cleaning out the filter keeps your machine running to its best without adding any extra costs to your bills.
Money
Diary of an aspiring adviser: Tackling imposter syndrome
Apparently, one third of people are suffering from imposter syndrome at any given time, and 70% will experience it at some point.
My former career as a scientist wasn’t all bad, but one example stands out as a low point. I don’t know if it was the origin of my imposter syndrome. But it certainly didn’t help.
Halfway through my PhD, I was giving my first talk at an international conference. After I’d finished, the floor was opened up to questions.
The best advice I’ve received is to remember that no one is perfect
The first hand raised was that of an older researcher and it turned out he didn’t really have a question; he just wanted to tell me and the rest of the audience that he thought my work was pointless. Although I’m not opposed to criticism, I do think it needs to be constructive.
It was easy, as a scientist, to feel like you were never doing enough — surrounded by professors and fast-rising superstars, all experts in their field. I remember worrying I wasn’t good enough and I would be exposed as a fraud.
I’m grateful my experience since changing to the advice profession has been one of night and day.
Whenever I have interacted with people in the wider industry, whether in a random email, at a conference or picking their brain over a coffee, I have been met with overwhelmingly helpful, friendly responses.
I’ve got better at recognising when negative thoughts start gnawing away at me
Contrast the above presenting experience with my first at a financial planning conference. Everyone was very welcoming, no one was rude and I even had several people approach me afterwards just to let me know they had liked the talk.
At work, I am hugely fortunate to have a supportive boss and leadership team, and a friendly group of colleagues.
Nevertheless, despite all these positive experiences I have had since changing career, imposter syndrome never completely goes away. I may have a great day, or even a great week, at work, but that doesn’t stop doubts creeping in the following week.
While I haven’t found the secret to eliminating imposter syndrome, I have taken steps to reduce it.
I’ve realised I need to stop comparing myself to others. There will always be someone better than you, but everyone is on their own journey and has their own trials.
One third of people are suffering from imposter syndrome at any given time
I’ve also got better at recognising when negative thoughts start gnawing away at me, and remembering that other people also experience this.
Finally, I think the best advice I’ve received to overcome it is to remember that no one is perfect — neither myself, nor the grouchy guy who didn’t like my work all those years ago!
Ryan Sharpe is a paraplanner at Almond Financial
This article featured in the October 2024 edition of Money Marketing.
If you would like to subscribe to the monthly magazine, please click here.
Money
Thousands of dead pensioners sent winter fuel payment letters leaving grieving families horrified
THOUSANDS of dead pensioners have been sent winter fuel payment letters, leaving grieving families “horrified”.
The winter fuel payment was previously available to everyone aged 66 and above, the current State Pension age.
But in July the Government announced the payment would become means-tested meaning only those on certain benefits are eligible.
This includes those on income support, tax credits, Universal Credit, and largely Pension Credit.
This means that around 10million pensioners will no longer get the cash, which can be worth up to £300.
The Department for Work and Pensions (DWP) is now writing to 13.5million pensioners to alert them to the changes and also to let them know if they might be eligible for pension credit.
However, it’s understood that some letters are being sent to pensioners who have died – despite grieving families having told the DWP about their deaths already.
This is what happened to one woman, who then took to X, formerly known as Twitter, to voice her frustration.
Frances Coppola, a writer and economist, reported that she had received a letter about changes to the winter fuel payment from the DWP intended for her partner.
But she had already informed the government that he had died on September 19.
Ms Coppola said the letter was advising her partner that he could apply for pension credit to be backdated by up to three months – making him eligible for the cash payment.
Writing on X she said: “My partner’s state pension has already been stopped. I did not understand why they were writing to him about WFP, since clearly they knew he was dead.”
Ms Coppola then complained to the DWP about the letter and was told that letters were being sent out to all “who had ever made a claim” for the WFP – alive or not.
“So thousands of bereaved spouses, partners and relatives are receiving these letters,” she Tweeted.
This was to ensure as many people as possible find out about the changes to WFP, Ms Coppola was told.
She added: “DWP is ignoring official notifications of death and literally spamming the relatives of deceased WFP claimants. I am horrified.”
According to the DWP a representative of the deceased can call or email the department to report the death of a customer.
Once that’s happened, the department will then work with them, following what’s called a death arrears process.
This involves contacting the representative to gather information or confirm details to make sure the department holds the correct information to make a death arrears payment.
A DWP spokesperson said: “We are looking into what happened in this case and apologise for any distress caused.
“More broadly we are committed to ensuring pensioners are aware of the changes to the winter fuel payment and the wider support that is available to them.
“We are issuing letters to around 13.5 million pensioners and our drive to boost take up of Pension Credit has seen a 152% increase in claims, with other pensioners are also benefiting from the Warm Homes Discount and our extension of the Household Support Fund to help with their energy bills.”
The Sun’s Winter Fuel S.O.S Campaign
THE Sun’s Winter Fuel SOS Campaign is here to support households during these challenging times.
Due to government cutbacks, ten million pensioners are set to lose the £300 Winter Fuel Payment.
Since opening our phone lines to thousands of pensioners in October, we remain dedicated to providing tips and advice on how to stretch your finances further.
That’s why we have partnered with the poverty charity Turn2Us to launch a free benefits checker, helping you ensure that you are claiming all the benefits to which you are entitled.
Don’t miss our latest Sun Money coverage, which includes essential information on key deadlines, applying for support, and everything you need to know about Pension Credit.
If you have a story to share or wish to get in touch with our team, please email us at money-sm@news.co.uk.
Tom Selby, director of public policy at investment firm AJ Bell told The Sun that this “blanket approach” risks causing even more grief.
He said: “While the DWP’s desperation to boost take-up of the WFP among those who are eligible is understandable, taking a blanket approach risks creating extra admin stress for people at what will inevitably already be a really difficult time.
“If the government has the correct information about people, including whether or not they are still alive and likely to be entitled to the payment, then it should be using that information to make sure things like this don’t happen.”
“The response from the individual at DWP in this case, not to mention the convoluted process the individual had to go through, is particularly unforgivable and falls well below the standards most people would expect.”
Tom added that this isn’t the first time the DWP’s admin systems have been found wanting and “they need to get their house in order as a matter of urgency”.
What is the winter fuel payment and who is eligible?
The winter fuel payment is issued to state pensioners on certain benefits to help cover the cost of hiked-up energy bills over the colder months.
This is because households tend to use more energy for heating as temperatures drop.
The payment, which is made in November or December, is automatic meaning you don’t need to apply.
Those on Universal Credit with a joint claim where one member was over the state pension age previously had to apply to get the payment.
To automatically qualify this year, you need to be of state pension age and in receipt of one of the following benefits:
- Pension Credit
- Universal Credit
- income-related Employment and Support Allowance (ESA)
- income-based Jobseeker’s Allowance (JSA)
- Income Support
- Child Tax Credit
- Working Tax Credit
You must have an active claim for these benefits during the “qualifying week” which is from September 16 to 22 this year.
You only need to apply this year if:
- you moved to an eligible country before January 1, 2021
- you were born before September 23, 1958
- you have a genuine and sufficient link to the UK – this can include having lived or worked in the UK and having family in the UK
Households can claim by phone from October 28 via the number 0800 731 0160.
They have until March 31, 2025 to do this.
Or to claim by post, you’ll need to fill in the winter fuel payment claim form and post it to the Winter Fuel Payment Centre.
This is available at www.gov.uk/winter-fuel-payment/how-to-claim.
What energy bill help is available?
There’s a number of different ways to get help paying your energy bills if you’re struggling to get by.
If you fall into debt, you can always approach your supplier to see if they can put you on a repayment plan before putting you on a prepayment meter.
This involves paying off what you owe in instalments over a set period.
If your supplier offers you a repayment plan you don’t think you can afford, speak to them again to see if you can negotiate a better deal.
Several energy firms have grant schemes available to customers struggling to cover their bills.
But eligibility criteria vary depending on the supplier and the amount you can get depends on your financial circumstances.
For example, British Gas or Scottish Gas customers struggling to pay their energy bills can get grants worth up to £2,000.
British Gas also offers help via its British Gas Energy Trust and Individuals Family Fund.
You don’t need to be a British Gas customer to apply for the second fund.
EDF, E.ON, Octopus Energy and Scottish Power all offer grants to struggling customers too.
Thousands of vulnerable households are missing out on extra help and protections by not signing up to the Priority Services Register (PSR).
The service helps support vulnerable households, such as those who are elderly or ill, and some of the perks include being given advance warning of blackouts, free gas safety checks and extra support if you’re struggling.
Get in touch with your energy firm to see if you can apply.
More energy help for pensioners
In response to the government’s slash to the winter fuel payments, Octopus Energy has launched a scheme offering discretionary credit of between £50 and £200 to pensioners.
British Gas has also set aside over £140 million this winter for its Individual and Families Support Fund.
And Scottish Power‘s Hardship Fund has handed out more than £60 million to its struggling customers.
To find out what you can get, check the offers from your own supplier first by going to their website or asking someone on the phone.
Most schemes are exclusive to customers, but the British Gas Individual and Families fund is available to everyone if your own supplier can’t help.
Help can also be accessed from your local council via the Household Support Fund, which has renewed a fresh pot of £421million for vulnerable households.
To find out if you are eligible, go to your council’s website and read over the conditions of the scheme.
If you’re just looking for simple ways to reduce your bill this winter, each of these supplier schemes, as well as the Household Support Fund also offer free electric blankets as part of their deal.
For example, Octopus has said they will distribute 20,000 electric blankets from Dreamland to its most vulnerable customers, keeping them warm for “as little as 3p an hour”.
The “heat yourself not your home” approach is trending fast, with retailers such as B&M introducing ranges of affordable self-heating appliances.
However, it is important to note that the elderly should not avoid turning the heating on if they are cold – for energy help contact your provider or local council, or read our article here.
Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.
Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories
Money
The Morning Briefing: Value of ‘lost’ pension pots hits £31bn; diary of an aspiring adviser
Good morning and welcome to your Morning Briefing for Thursday 24 October 2024. To get this in your inbox every morning click here.
Value of ‘lost’ pension pots hits £31bn
The total value of ‘lost’ pension pots is now estimated to be £31.1bn, new data published by the Pensions Policy Institute (PPI) reveals.
This has risen by £4.5bn, from £26.6bn in 2022.
Almost 3.3 million pension pots are now considered lost, containing an average sum of £9,470.
Diary of an aspiring adviser
In this ‘Diary of an aspiring adviser’ column, Almond Financial paraplanner Ryan Sharpe recalls feeling imposter syndrome in their former career as a scientist when someone at an international conference said they though their work was pointless.
“I’m grateful my experience since changing to the advice profession has been one of night and day,” said Sharpe.
“Whenever I have interacted with people in the wider industry, whether in a random email, at a conference or picking their brain over a coffee, I have been met with overwhelmingly helpful, friendly responses.”
Wealthtime platform upgrade
Wealthtime has partnered with tech firm Wipro and software provider GBST on its platform technology upgrade.
The partnership will see the Wealthtime and Wealthtime Classic platforms brought together under one brand on a significantly enhanced platform.
Wipro and GBST will employ a joint co-delivery model to provide end-to-end platform services.
Quote Of The Day
Given the severity of the pandemic, we were always likely to see an improvement in life expectancy from the darkest days of 2020
– Stephen Lowe, group communications director at Just Group, comments on figures published by ONS reveal a bounce back in life expectancy in 2021-23.
Stat Attack
UK dividends fell to £25.6bn in the third quarter of 2024, according to the latest Dividend Monitor published by global financial services company Computershare.
£25.6bn
The amount UK dividends fell to during the third quarter.
8.1%
This was down 8.1% on a headline basis.
£25.3bn
Regular dividends, which exclude one-off special dividends, were down 3.5% to £25.3bn on a constant-currency basis.
4.5%
Median (or typical) growth at the company level was 4.5%.
3.6%
Mid-cap companies posted better underlying growth than the top 100 (4.4%) firms, reflecting ‘greater sensitivity to a resilient UK economy’.
Source: Computershare
In Other News
The Income Protection Task Force (IPTF) has announced its plans for 2025.
Next year will see the organisation restructure including the introduction of a Board to provide professional oversight.
Andrew Wibberley will step down as co-chair after four years, with Jo Miller becoming managing director and board chair, and Vicky Churcher becoming executive director and vice chair.
Commenting on his departure, Wibberley said: “In the last four years the shift from people working on IP because they felt they ought to, to people suffering FOMO if they’re not involved, has been great to see. Most importantly, this is translating into more people protecting their incomes, which is a fantastic thing.
“I’m looking forward to seeing the results of the next exciting things coming out of the IPTF and those sales continuing to grow.”
The plans outlined will also see the continuation of some of the organisation’s key work, including 7Advisers, IPAW, workstream meetings and the return of the Let’s Talk IP podcast.
Additionally, the group outlined plans for several projects for the year ahead focused on the organisation’s key objectives: education, collaboration and insight.
The news follows a busy year for IPTF so far, which has seen the continuation of the 7Advisers project, a celebration of the 7Families ten-year anniversary, the launching of the Let’s Talk IP podcast and profile of an income protection customer and the hosting of another Income Protection Action Week.
Reeves to announce major change to fiscal rules releasing £50bn for spending (The Guardian)
Nvidia CEO targets more India growth through fresh partnerships (Bloomberg)
Barclays third-quarter profit beats forecasts with 18% rise (Reuters)
Did You See?
M&G has launched its first sustainable corporate bond strategy in collaboration with responsAbility, the Swiss-based asset manager.
The M&G (Lux) responsAbility Sustainable Solutions Bond Fund has been designed following active engagement with institutional and wholesale investors seeking sustainable active fixed-income strategies.
The fund, which is classified as Article 9 under the EU’s Sustainable Finance Disclosure Regulation, will leverage M&G’s deep credit expertise and responsAbility’s long-standing track record on impact and sustainable investing.
It will be co-managed by Mario Eisenegger and Ben Lord, who are long-standing members of M&G’s €161bn global fixed-income investment division.
Money
Value of ‘lost’ pension pots hits £31bn
The total value of ‘lost’ pension pots is now estimated to be £31.1bn, new data published by the Pensions Policy Institute (PPI) reveals.
This has risen by £4.5bn, from £26.6bn in 2022.
Almost 3.3 million pension pots are now considered lost, containing an average sum of £9,470.
This rises to £13,620 among people aged 55 to 75.
PPI said a combination of people switching jobs and automatic enrolment into workplace pensions is behind the increasing number of lost pensions.
Earlier this week pensions minister Emma Reynolds repeated the government’s commitment to developing Pension Dashboards, which aims to make it easier for savers to locate old pots and combine pensions.
The Department for Work and Pensions (DWP) is currently working on plans to automatically consolidate small pension pots of less than £1,000.
Rachel Vahey, head of public policy at AJ Bell, said: “Automatic enrolment is often held to be one of the most successful public policies of our time.
“It is credited with enrolling over 11 million people into a workplace pension since 2012, creating many new pension savers.
“But with people switching jobs regularly – around 11 times over the course of a lifetime according to some estimates – it’s easy to see how some people end up losing track of the pension pots they have built up.
She said that lost pension wealth hitting £31.1bn, means “millions of people could be in danger of facing an incomplete picture when it comes to their long-term financial planning.”
“Knowing how much they have saved in a pension, and where that money is invested, is one of the most important steps savers can take to maintain a level of control over their future retirement,” she added.
“Only by having this overall picture can pension savers work out how close they are to achieving their financial goals, and what action they may need to take to get their desired income and standard of living in later life.
“The government is on the road to helping people achieve this. Pension Dashboards, once launched, will allow savers to see all their pensions in one place online, reuniting them with their lost pension wealth.
“But while we wait eagerly for dashboards to launch, there are important steps people can take today to track down their lost pensions and boost the overall value of their pension savings.”
Money
I stashed away £1k for Christmas without noticing thanks to three clever savings tricks – anyone can do it
A SAVVY saver has revealed how he stashed away almost £1,000 for Christmas with three clever savings tricks that anyone can do.
Sammie Ellard-King, 35, can now enjoy spending the cash on presents, food, decorations, plus all the trimmings without having to worry about breaking the bank or going in to debt.
Along with his partner, Charlotte Johnston, 35, Sammie has been building a festive fund which involves him capitalising on a clever feature that comes with online bank, Monzo.
This is a facility which automatically “swipes” a set sum of money into designated virtual jars.
Sammie, who is self-employed and runs financial website Up the Gains to help others learn about money, told The Sun: “I first set up ‘savings pots’ with Monzo around four years ago and now have around nine in total.
“Some are joint with my partner, such as the one where we are slotting money away for the festive period.”
The couple, who live in Fleet, Hampshire have saved a regular amount here every month since January.
Sammie said: “Generally speaking, I set this at around £50 a month, but sometimes squirrel away more.
“It only takes a matter of seconds to set up a pot, and you can then earn a decent rate of interest on your hard-earned cash.
“It’s great having a dedicated pot building in time for Christmas.”
While rates can fluctuate, Sammie is currently earning 4.22% on this pot.
That means on savings of £1,000 he makes around £3.50 a month, or £42 a year.
He said: “I like this ‘ring-fenced’ approach because it means I never accidentally dip into my savings.”
ROUND IT UP
The money aficionado also takes advantage of another of the digital bank’s features known as “round-ups” to help boost his festive fund.
Sammie said: “Say, for example, you buy a £2.75 coffee using Monzo, the bank rounds up your spend to the nearest pound and adds 25p to the pot where you’ve turned on ‘round-ups.’
How you can find the best savings rates
If you are trying to find the best savings rate there are websites you can use that can show you the best rates available.
Doing some research on websites such as MoneyFacts and price comparison sites including Compare the Market and Go Compare will quickly show you what’s out there.
These websites let you tailor your searches to an account type that suits you.
There are three types of savings accounts fixed, easy access, and regular saver.
A fixed-rate savings account offers some of the highest interest rates but comes at the cost of being unable to withdraw your cash within the agreed term.
This means that your money is locked in, so even if interest rates increase you are unable to move your money and switch to a better account.
Some providers give the option to withdraw but it comes with a hefty fee.
An easy-access account does what it says on the tin and usually allow unlimited cash withdrawals.
These accounts do tend to come with lower returns but are a good option if you want the freedom to move your money without being charged a penalty fee.
Lastly is a regular saver account, these accounts generate decent returns but only on the basis that you pay a set amount in each month.
“I’m a big fan of automated saving – for me, it’s a complete no-brainer.”
It’s free to set up current account with the digital bank, which doesn’t have any high street branches.
Monzo bank offers pots as part of its current account, and customers can round up money automatically as well as scheduling regular deposits.
These types of features have now become common among many online and high street banks.
Plum, Chip, Chase and Starling are among the apps and digital banks offering auto-save features
Sammie said he has used several of these in the past to take advantage of the best rates on offer at the time.
Before moving your money to a new savings account, it’s vital to choose the right account for your needs – and to check the rates on offer.
You can do this with a site such as moneyfactscompare.co.uk.
Using Monzo isn’t the only hack Sammie uses to build his Christmas savings either.
SUPER-CHARGE SAVINGS
Sammie also has another clever trick to “super-charge” the amount he has to slot away.
“I run all of my spending through cashback sites,” he said.
Once you’ve found a deal on an item you want to buy, you just click through the link, and the kickback is paid into your account.
He said: “This hack really comes into its own in the run-up to the festive season when I’m spending more.”
The first part of Sammie’s trick involves him buying virtual gift cards.
“I usually do this through Everup or Cheddar,” he said.
“With sites such as these, I can earn cashback on purchases I make with gift cards.”
With Cheddar, users can get cashback while shopping at partnered shops automatically by linking their bank account to the app.
Users can also earn “instant cashback” by purchasing gift card credit to spend at certain stores, usually between 2% and 4% including at supermarkets like Tesco, Asda and Sainsbury’s.
With Cheddar, you can sign up for free (no credit checks or fees), and can claim a £5 bonus.
Similarly, with EverUp, you can earn cashback on gift card purchases. Both are free to sign up to and there’s noe fee.
Sammie then “turbo-charges” his earnings even more with another nifty move.
“Having bought gift cards, I ‘stack’ the money I earn from them by using the cards to make purchases via more well-known cashback sites such as Topcashback and Quidco,” he said.
How does cashback work?
Lynsey Barber, The Sun’s consumer editor, explains…
Cashback sites pay you to shop or take out deals.
They get paid commission – and give you a slice of money to keep too.
Most cashback sites are free and you just need to sign up with your name and email address.
They pay cashback on a range of purchases – from your weekly shop at the supermarket, one-off purchases at major electrical retailers and even renewing your insurance or signing up to a broadband service.
Deals available vary from one day to the next, as do the shops where you get it, and on different cashback sites, so it’s worth checking what’a available whenever you shop online.
Make sure to check the price too, don’t just go for the best cashback deal – you’re not saving money if it costs more.
Cashback isn’t usually paid immediately, with some paying in around 30 days but some transactions can take longer so don’t rely on the money for spending on essentials.
To get the money back you need to click a link through the cashback site – if you miss this step out and shop directly with the retailer then you’ll miss out.
Cashback sites often give new users special welcome discounts on top of the usual offers too.
Make sure to read the details first so you know when you can expect to get the cashback, and any other requirements.
Some sites like TopCashback will also let you upload your receipts from shopping in real life so you can get cashback on this spending too.
Often you can stack other deals with cashback if the retailer is offering a sale or other discount at the same time.
Once you’ve earned your cashback you can “cash out” by moving the money to your bank account, but you may have to wait to do this depending on the deal.
Always remember it’s not a deal if you didn’t intend to buy it anyway.
“There’s a kind of ‘loophole’ which means you can do this, and essentially get a ‘double hit’ on the amount of cashback you get.”
With the likes of Topcashback and Quidco you can earn money on anything from everyday shopping to clothes, gadgets, phone deals and car insurance, just by making purchases with retailers via their websites.
Sammie said: “On occasions, thanks to a combination of cashback on gift cards from Everup and Cheddar – and then cashback from Topcashback or Quidco – I can get as much as 16% cashback in total.”
Remember when using cashback sites, you’re only saving money if you intended to buy the item in the first place.
Meanwhile many gift cards have expiry dates and if a shop goes under they could become worthless, so if you use the trick make sure you spend them as soon as you can.
MAXIMISE YOUR POT
One of Sammie’s top tips to make your money work even harder is to move earnings into an account paying interest.
“Lots of people make the mistake of leaving their cashback with the website where they earned it,” he said.
“But once I’m able to ‘cash out,’ I transfer my earnings into my Monzo pots, where the money can potentially earn more than 4%, paid monthly.”
While you might think all of this is time-consuming, Sammie insists this isn’t the case.
“It really isn’t that complicated or long-winded,” he said.
“The key is to download the relevant gift cards onto your phone before you go shopping.”
That way, he adds, even if you buy a £100 gift card, but only spend £65, you’ll still have £35 ‘rolled over’ for the next time you shop.
“The gift card ‘lives’ in the app,” he said. “It’s just a case of getting into good habits.”
Gift cards: what you need to know
Gift cards seem an easy option for gifts – but make sure they spend them quickly.
That’s because they can soon become worthless.
Check the expiry dates on each card and set an alert on your phone to spend it before its validity runs out.
Many cards are only good for 12 months and some stores start counting down from when the card is purchased.
If a retailer goes bust, your gift card won’t be protected even if it is still in date.
“Another simple ‘win’ is to buy presents on ‘special events’ like Black Friday when there are some great deals to be had.”
The annual shopping event takes place on November 29 this year.
With just under 10 weeks to go until Christmas Day, Sammie and Charlotte, who works as a producer, have close to £1,000 in their Monzo Christmas savings pot.
This is down to a combination of regular monthly saving, round ups and topping this up with cashback.
Sammie said. “Having this money squirrelled away means we can really enjoy the festive period.
“We can buy lots of presents, treat ourselves to nice food, and go out with friends, without having to worry about money.”
Another of Sammie’s top tips is to start saving early.
“Once this year’s festivities are out of the way, it’s worth setting up a Monzo account with a dedicated pot ready for next year,” he said.
“Then you can make regular savings each month – and also look into setting up ‘round-ups’ – helping to make Christmas 2025 a lot easier on the wallet.
“It’s all about thinking ahead.”
In addition to Christmas, the couple have pots for an emergency fund, a sinking fund, a holiday fund – and a fund to furnish their new home.
In total they save around £300 a month in to nine different pots, adjusting the allocations depending on the priority at the time.
“Once the festive period is over, Charlotte and I will channel more into the ‘new home’ fund, said Sammie as they prepare to move from their their two-bed house in Hampshire to their “forever home” in Ramsgate, Kent.
“We are saving hard so we’ll be able to afford things like fridges and sofas when we move in – hopefully in early 2025,” said the financial whizz.
“This will mean we won’t have to buy stuff on credit, reducing the risk of us getting into debt.”
How to save money on Christmas shopping
Consumer reporter Sam Walker reveals how you can save money on your Christmas shopping.
Limit the amount of presents – buying presents for all your family and friends can cost a bomb.
Instead, why not organise a Secret Santa between your inner circles so you’re not having to buy multiple presents.
Plan ahead – if you’ve got the stamina and budget, it’s worth buying your Christmas presents for the following year in the January sales.
Make sure you shop around for the best deals by using price comparison sites so you’re not forking out more than you should though.
Buy in Boxing Day sales – some retailers start their main Christmas sales early so you can actually snap up a bargain before December 25.
Delivery may cost you a bit more, but it can be worth it if the savings are decent.
Shop via outlet stores – you can save loads of money shopping via outlet stores like Amazon Warehouse or Office Offcuts.
They work by selling returned or slightly damaged products at a discounted rate, but usually any wear and tear is minor.
Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.
Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories
Money
Lovely UK village where three-bed homes are £70,000 cheaper than UK average
BUDDING buyers looking to get on the housing ladder will be keen to learn of a lovely village where three-bed homes are £70,000 cheaper than the UK average.
As house prices continue to climb the dream of homeownership is beginning to vanish for many.
Today, first-time buyers will also fork out over a quarter of a million pounds.
New figures by Zoopla, published this month showed the average price of a home is £267,100.
This rises to £451,600 for detached houses.
But if you are willing to be flexible you may be able to find your dream home at a bargain price.
There are still places in the UK where homes are below the national average and they are commutable to major cities.
Take Crosby for example, it is an idyllic coastal town in Sefton, which boasts an award-winning park and stunning beaches.
Three and four-bed homes here are on average £195,100 making them £70,000 below the national average.
Better yet, it is just a 25-minute car drive to Liverpool City.
Let’s take a look at the cheapest houses up for grabs in this area.
Four-bed semi-detached home – £195,000
This four-bed semi is on the market for £195,000 on Zoopla.
It comes with four bedrooms, two bathrooms and two reception rooms.
The property is just a three-minute walk to a number of primary schools and nurseries.
Additionally, it is just a six-minute drive to Waterloo Merseyside, where you can reach Liverpool City in just 26 minutes via train.
You might be able to get a mortgage to buy this house with a 10% deposit of £19,500.
If you got accepted for a 25-year loan with 5% interest, your monthly payments would work out as £1,025.
Three-bed terrace – £185,000
You can buy this family home in Sefton for £185,000.
It features a large kitchen and dining area alongside three bedrooms and one bath.
Agents at Zoopla said the home is within walking distance of local shops, schools, and transport links.
It is a four-minute drive to Waterloo Merseyside or just under a 10-minute drive to Blundellsands & Crosby train station.
This local transport hub can take you to the city centre in just 24 minutes.
You might be able to get a mortgage to buy this house with a 10% deposit of £18,500.
If you got accepted for a 25-year loan with 5% interest, your monthly payments would work out as £973.
Three bed semi-detached – £220,000
This property is slightly more expensive than the previous two homes, but still £40,000 less than the UK average.
It comes with three bedrooms and a large conservatory and garden area.
A seven-minute car journey will take you to Blundellsands & Crosby train station, making it ideal for commuters.
You might be able to get a mortgage to buy this house with a 10% deposit of £22,000.
If you got accepted for a 25-year loan with 5% interest, your monthly payments would work out as £1,157
Three-bed semi-detached house -£215,000
This three-bed and one-bath home would be ideal for anyone looking for a central location in Crosby.
It is a 16-minute walk to Blundellsands & Crosby train station or if you prefer to drive it will take you just three minutes.
The property is bright and has lots of natural light.
If you were looking for a home which you could move into without pouring hundreds into renovations then this could be it.
You might be able to get a mortgage to buy this house with a 10% deposit of £21,500.
If you got accepted for a 25-year loan with 5% interest, your monthly payments would work out as £1,131.
How to save for your first home
HAVE you ever wondered how first-time buyers manage to go from savers to homeowners?
Getting a foot on the property ladder might seem like a daunting task, but The Sun’s My First Home feature allows you to find out exactly what it takes to finally get the keys to your own place.
Leanne Gem managed to buy her £456,000 four-bed house with an “underrated scheme”.
Karis Jacobs and her husband George used the 50/50 method to buy their first home just two years after losing their jobs.
Parents Chae and Cem used a “DIY Help to Buy scheme” to buy their £466,000 first home.
Anupam and his wife Shrabanti lost £6,000 free cash when buying their first home – here’s how you can avoid it.
-
Science & Environment1 month ago
Hyperelastic gel is one of the stretchiest materials known to science
-
Technology4 weeks ago
Is sharing your smartphone PIN part of a healthy relationship?
-
Science & Environment1 month ago
‘Running of the bulls’ festival crowds move like charged particles
-
Science & Environment1 month ago
Maxwell’s demon charges quantum batteries inside of a quantum computer
-
Science & Environment1 month ago
How to unsnarl a tangle of threads, according to physics
-
Technology1 month ago
Would-be reality TV contestants ‘not looking real’
-
Science & Environment4 weeks ago
X-rays reveal half-billion-year-old insect ancestor
-
Science & Environment1 month ago
Sunlight-trapping device can generate temperatures over 1000°C
-
Science & Environment1 month ago
Liquid crystals could improve quantum communication devices
-
Technology3 weeks ago
Ukraine is using AI to manage the removal of Russian landmines
-
Science & Environment1 month ago
Quantum ‘supersolid’ matter stirred using magnets
-
Womens Workouts1 month ago
3 Day Full Body Women’s Dumbbell Only Workout
-
TV3 weeks ago
সারাদেশে দিনব্যাপী বৃষ্টির পূর্বাভাস; সমুদ্রবন্দরে ৩ নম্বর সংকেত | Weather Today | Jamuna TV
-
News3 weeks ago
Massive blasts in Beirut after renewed Israeli air strikes
-
Science & Environment1 month ago
A new kind of experiment at the Large Hadron Collider could unravel quantum reality
-
Science & Environment1 month ago
Laser helps turn an electron into a coil of mass and charge
-
Science & Environment1 month ago
Why this is a golden age for life to thrive across the universe
-
Technology3 weeks ago
Samsung Passkeys will work with Samsung’s smart home devices
-
Business3 weeks ago
When to tip and when not to tip
-
Football3 weeks ago
Rangers & Celtic ready for first SWPL derby showdown
-
News3 weeks ago
▶ Hamas Spent $1B on Tunnels Instead of Investing in a Future for Gaza’s People
-
Technology3 weeks ago
Microphone made of atom-thick graphene could be used in smartphones
-
News3 weeks ago
Navigating the News Void: Opportunities for Revitalization
-
Science & Environment1 month ago
Quantum forces used to automatically assemble tiny device
-
Science & Environment1 month ago
A slight curve helps rocks make the biggest splash
-
Science & Environment1 month ago
Nerve fibres in the brain could generate quantum entanglement
-
MMA2 weeks ago
‘Uncrowned queen’ Kayla Harrison tastes blood, wants UFC title run
-
Sport3 weeks ago
Wales fall to second loss of WXV against Italy
-
Science & Environment1 month ago
How to wrap your mind around the real multiverse
-
Technology1 month ago
Meta has a major opportunity to win the AI hardware race
-
Science & Environment1 month ago
Physicists have worked out how to melt any material
-
Science & Environment1 month ago
ITER: Is the world’s biggest fusion experiment dead after new delay to 2035?
-
Science & Environment1 month ago
Nuclear fusion experiment overcomes two key operating hurdles
-
News1 month ago
▶️ Hamas in the West Bank: Rising Support and Deadly Attacks You Might Not Know About
-
MMA3 weeks ago
Julianna Peña trashes Raquel Pennington’s behavior as champ
-
Business3 weeks ago
DoJ accuses Donald Trump of ‘private criminal effort’ to overturn 2020 election
-
MMA3 weeks ago
Pereira vs. Rountree prediction: Champ chases legend status
-
Sport3 weeks ago
Boxing: World champion Nick Ball set for Liverpool homecoming against Ronny Rios
-
Sport3 weeks ago
Man City ask for Premier League season to be DELAYED as Pep Guardiola escalates fixture pile-up row
-
News1 month ago
▶️ Media Bias: How They Spin Attack on Hezbollah and Ignore the Reality
-
Technology4 weeks ago
Why Machines Learn: A clever primer makes sense of what makes AI possible
-
Science & Environment1 month ago
Time travel sci-fi novel is a rip-roaringly good thought experiment
-
MMA3 weeks ago
Dana White’s Contender Series 74 recap, analysis, winner grades
-
Technology3 weeks ago
This AI video generator can melt, crush, blow up, or turn anything into cake
-
Technology3 weeks ago
Musk faces SEC questions over X takeover
-
News3 weeks ago
‘Blacks for Trump’ and Pennsylvania progressives play for undecided voters
-
News3 weeks ago
Family plans to honor hurricane victim using logs from fallen tree that killed him
-
News1 month ago
the pick of new debut fiction
-
News1 month ago
Our millionaire neighbour blocks us from using public footpath & screams at us in street.. it’s like living in a WARZONE – WordupNews
-
Sport3 weeks ago
World’s sexiest referee Claudia Romani shows off incredible figure in animal print bikini on South Beach
-
Technology3 weeks ago
Microsoft just dropped Drasi, and it could change how we handle big data
-
Technology3 weeks ago
The best budget robot vacuums for 2024
-
MMA3 weeks ago
Pereira vs. Rountree preview show live stream
-
Business3 weeks ago
Chancellor Rachel Reeves says she needs to raise £20bn. How might she do it?
-
Business3 weeks ago
Sterling slides after Bailey says BoE could be ‘a bit more aggressive’ on rates
-
Money3 weeks ago
Wetherspoons issues update on closures – see the full list of five still at risk and 26 gone for good
-
Technology3 weeks ago
The best shows on Max (formerly HBO Max) right now
-
Entertainment3 weeks ago
New documentary explores actor Christopher Reeve’s life and legacy
-
Business3 weeks ago
Bank of England warns of ‘future stress’ from hedge fund bets against US Treasuries
-
MMA3 weeks ago
Alex Pereira faces ‘trap game’ vs. Khalil Rountree
-
Technology3 weeks ago
Gmail gets redesigned summary cards with more data & features
-
Sport3 weeks ago
China Open: Carlos Alcaraz recovers to beat Jannik Sinner in dramatic final
-
News3 weeks ago
German Car Company Declares Bankruptcy – 200 Employees Lose Their Jobs
-
Technology3 weeks ago
Texas is suing TikTok for allegedly violating its new child privacy law
-
Sport3 weeks ago
Sturm Graz: How Austrians ended Red Bull’s title dominance
-
MMA3 weeks ago
UFC 307 preview show: Will Alex Pereira’s wild ride continue, or does Khalil Rountree shock the world?
-
Business3 weeks ago
Stark difference in UK and Ireland’s budgets
-
Sport3 weeks ago
Aaron Ramsdale: Southampton goalkeeper left Arsenal for more game time
-
TV3 weeks ago
Love Island star sparks feud rumours as one Islander is missing from glam girls’ night
-
Sport3 weeks ago
Coco Gauff stages superb comeback to reach China Open final
-
News3 weeks ago
Woman who died of cancer ‘was misdiagnosed on phone call with GP’
-
Technology3 weeks ago
OpenAI secured more billions, but there’s still capital left for other startups
-
Business3 weeks ago
Head of UK Competition Appeal Tribunal to step down after rebuke for serious misconduct
-
Business3 weeks ago
The search for Japan’s ‘lost’ art
-
MMA3 weeks ago
Ketlen Vieira vs. Kayla Harrison pick, start time, odds: UFC 307
-
News3 weeks ago
Heavy strikes shake Beirut as Israel expands Lebanon campaign
-
Science & Environment3 weeks ago
Markets watch for dangers of further escalation
-
Technology3 weeks ago
J.B. Hunt and UP.Labs launch venture lab to build logistics startups
-
TV3 weeks ago
Phillip Schofield accidentally sets his camp on FIRE after using emergency radio to Channel 5 crew
-
News3 weeks ago
Heartbreaking end to search as body of influencer, 27, found after yacht party shipwreck on ‘Devil’s Throat’ coastline
-
Football3 weeks ago
Why does Prince William support Aston Villa?
-
Health & fitness3 weeks ago
NHS surgeon who couldn’t find his scalpel cut patient’s chest open with the penknife he used to slice up his lunch
-
News3 weeks ago
Balancing India and China Is the Challenge for Sri Lanka’s Dissanayake
-
Science & Environment1 month ago
Physicists are grappling with their own reproducibility crisis
-
Technology4 weeks ago
Russia is building ground-based kamikaze robots out of old hoverboards
-
Football3 weeks ago
Simo Valakari: New St Johnstone boss says Scotland special in his heart
-
Technology3 weeks ago
Popular financial newsletter claims Roblox enables child sexual abuse
-
News3 weeks ago
Hull KR 10-8 Warrington Wolves – Robins reach first Super League Grand Final
-
Technology3 weeks ago
How to disable Google Assistant on your Pixel Watch 3
-
Business3 weeks ago
Can liberals be trusted with liberalism?
-
Technology3 weeks ago
A very underrated horror movie sequel is streaming on Max
-
MMA3 weeks ago
‘I was fighting on automatic pilot’ at UFC 306
-
Sport3 weeks ago
2024 ICC Women’s T20 World Cup: Pakistan beat Sri Lanka
-
Entertainment3 weeks ago
“Golden owl” treasure hunt launched decades ago may finally have been solved
-
Technology3 weeks ago
Epic Games CEO Tim Sweeney renews blast at ‘gatekeeper’ platform owners
-
News3 weeks ago
Liverpool secure win over Bologna on a night that shows this format might work
-
Technology3 weeks ago
Amazon’s Ring just doubled the price of its alarm monitoring service for grandfathered customers
-
Travel3 weeks ago
I transformed into Plague Doctor for horrors that awaited me at London Dungeon… I was still shaking by the end – The Sun
-
Technology3 weeks ago
Apple iPhone 16 Plus vs Samsung Galaxy S24+
-
TV3 weeks ago
Maayavi (මායාවී) | Episode 23 | 02nd October 2024 | Sirasa TV
You must be logged in to post a comment Login