Top 9 Money-Saving Tricks To Try In 2025
Top 9 Money-Saving Tricks To Try In 2025.
The increasing prices of essential bills mean it's crucial to be smart about your finances. If you happen to have a bit of extra cash but find it hard to save regularly, we’ve got some awesome saving challenges you can check out.
- The No-Spend Month
You can really rack up some serious savings with a no-spend month, but it takes some self-control. This means only shelling out cash for the essentials like:
- Basic groceries
- Utility bills, like electricity and water
- Car insurance
- Rent or mortgage payments
- Travel expenses
So, you’ll have to pass on all those extra expenses, which means no:
- Takeout or fancy coffees
- Spa days or beauty treatments
- Non-essential clothing
- Movie outings
TIP: Choose a smart month for this challenge—January is popular since many people are trying out new habits like going vegan or cutting out alcohol. After the holiday spending spree, there’s usually less temptation to splurge.
If a whole month feels overwhelming, consider starting with a no-spend week each month or a no-spend weekend every other week.
RELATED: Best Fitness Apps to Try in 2025.
You’ll probably save even more if you set a specific financial goal, whether it’s for a vacation or a new phone.
- The 1% Challenge
If you're just starting out with saving, here's a simple plan:
First, figure out what 1% of your monthly paycheck is.
Next, open a savings account.
Then, set up a standing order to transfer that 1% from your checking account to your savings account every payday.
After a year, check back on your savings.
Consider bumping it up to 2% the next year or whenever you get a raise.
At first, it might not feel like much, but you'll be amazed at how quickly it adds up and how easy saving can be.
Once you've got some savings, look for a place to stash it that offers a good interest rate.
- The Banned List Challenge
Is there a habit you want to ditch this year or something you want to start doing? Maybe you're looking to quit smoking, cut back on fast fashion or junk food, or hit the gym twice a week?
It’s time to get serious with yourself. Make a commitment to put a set amount, like £5, into a savings account every time you splurge on something from your banned list or skip a gym session. You can use a savings or investing app to make it easier, like Moneybox, Tandem, or Chip.
Hopefully, you’ll get so tired of shelling out that you’ll finally break that bad habit. If not, at least you’ll have some extra cash saved up for emergencies.
- The 52-Week Challenge
You can take on this challenge by saving a little bit more each week, and by the time a year rolls around, you'll have saved up £1,378.
In Week 1, you start with £1.
In Week 2, you save £2.
In Week 3, it's £3, and you keep increasing it like that until Week 52, where you’ll save £52.
At the end of the 52 weeks, you’ll have a nice total of £1,378. It’s probably a good idea to use an app or a savings account instead of just keeping cash in a piggy bank at home.
A solid way to keep your finances in check is to create a budget and stick to it.
- The 365-Day Challenge
This takes the 52-week challenge to the next level by asking you to stash away a little cash into your savings every single day. It’s a great way to kickstart a “rainy day” fund for those surprise costs, like when your boiler decides to break down.
Create a savings plan where you pick an amount that fits your budget and set up a standing order to make it happen. This method allows you to save without making huge changes to your daily life.
- Cupboard Clear Out
You’ve got to get to know your kitchen for this challenge.
Check out what’s in your freezer and cabinets every few months.
Plan your meals around what you already have.
Pick up some fresh fruits and veggies to round out your meals as needed.
By planning your meals and using what you’ve got, you’ll save money and cut down on waste. You might be amazed at how much you can save! Plus, shopping online can help you avoid impulse buys by keeping you focused on your list.
- The Borrow-Rather-Than-Buy Challenge
If you're on the hunt for a new laptop, smartphone, some DIY gear, or a stylish outfit for a special occasion, your family and friends might be a good resource. But there are also some cool websites and apps to check out:
Olio is a free app that allows you to share and receive food and other items from folks nearby, promoting a more sustainable and waste-free lifestyle.
In South London, the Library of Things lets you borrow handy items like drills, gazebos, and carpet cleaners without breaking the bank.
BookBub is great for snagging free or heavily discounted ebooks.
Toy libraries are perfect for parents, letting kids borrow toys to enjoy at home, and don’t forget about your local library for books, movies, and music.
If you’re thinking about making a big purchase, consider implementing a 30-day waiting period. Just mark the date in your phone calendar and challenge yourself to find a cheaper alternative or rethink if you really need it.
- The Mindful Challenge
Taking the time to write down your spending can ensure you take a more mindful approach to your money.
Get a notepad and write down your income after tax. Then write down your biggest outgoings, such as your rent or mortgage and utility bills.
See what’s left for other spending, and make a note before you buy anything. This approach forces you to think before you spend, and reduce the chances of unnecessary purchases.
- The 1p Challenge
Every day, you save what you saved the previous day plus an extra penny. You kick things off by saving 1p, then 2p, then 3p, and keep going until you hit £3.65 on December 31.
If you start on January 1, you'll end up with a total of £667.95 by the year's end.
You can either toss actual pennies into a piggy bank or use your online banking to move 1p, then 2p, and so forth into a savings account. It might seem a bit tedious, but that’s part of the fun.
If you have a Monzo account, you can set up automatic transfers of increasing amounts using the free service If This Then That (IFTTT).
Incorporating these saving challenges into your routine can make a big difference in building financial stability, even with small steps. Whether it’s cutting back on non-essentials or finding creative ways to save, these challenges can help you build better habits and save money without feeling deprived.
The key is consistency and finding a challenge that fits your lifestyle. Over time, you'll be surprised at how much you can accumulate, creating a stronger foundation for your financial future. Start small, stay committed, and watch your savings grow, empowering you to handle unexpected expenses and achieve your financial goals.
