Simple supermarket hack could save £260 a year without costing you a penny, expert says

As Brits are bracing for the “pain” Sir Keir Starmer warned is coming in next week’s budget, one personal finance expert highlighted the bills you could be slashing this winter while the cost of living crisis continues. The helpful tips from Fiona Peake, an expert from Ocean Finance, come after research by the firm revealed a quarter of UK homeowners are already feeling the pinch after the Ofgem price cap rise.

The easiest ways to save usually start with finding the discounts, loopholes, grants and specials around the products and services you already buy. The expert noted that joining supermarket loyalty schemes along could save you around £260 annually.

She explained: “For instance, Tesco Clubcard and Sainsbury’s Nectar Card offer points for every pound you spend, which can be redeemed for discounts or rewards. If you shop regularly, signing up could save you about £5 a week, adding up to around £260 a year. Consider using a cashback credit card - like those offered by Ocean Finance - to score even more savings on your everyday purchases. If you spend £300 a month on groceries and earn 1% cashback, that’s an extra £36 a year in your pocket.”

Additionally, the personal finance expert pleaded with people to check their benefit entitlement as some struggling households could be unnecessarily missing out on up to £600 every year through seasonal assistance. This includes the likes of Warm Home Discount Schemes, Cold Weather Payments, and other energy-related programs.

Fiona highlighted: “The Warm Home Discount Scheme gives eligible households £150 off their electricity bills during winter, whilst the Cold Weather Payment scheme offers £25 for each seven-day period of very cold weather. If you qualify, these programs could save you £50 a month, or £600 a year, which could make a huge difference!”

For those worried specifically about their energy use after the price cap rose by 10%, the expert recommended installing some apps so your energy consumption, and potential savings, are always at your fingertips. She shared: “EnergyHub lets you monitor your home’s energy consumption in real-time and gives you tips on reducing it. Similarly, Bulb can assist with switching energy providers and offers tailored suggestions based on your habits.

“By following their advice—like tweaking your thermostat by just 1°C—you could save around £100 a year. And don’t forget the simple stuff: switch off appliances when you’re not using them and run your dishwashers during off-peak hours for even more savings.”