Image credit: Shutterstock/Studio Romantic
This article is for general guidance only and is not financial or professional advice. Any links are for your own information, and do not constitute any form of recommendation by Saga. You should not solely rely on this information to make any decisions, and consider seeking independent professional advice. All figures and information in this article are correct at the time of publishing, but laws, entitlements, tax treatments and allowances may change in the future.
Whether you want to spend less, make your pension go further, or just want to be smarter with your money, there are more ways to save than you might think.
So with the help of some financial experts, we’ve come up with 50 ways for you to save money and boost your bank balance in 2026.
“Now is the perfect time to find a savings account that truly fits your needs. For those looking to support long-term goals like retirement or future property plans, locking funds into fixed rate accounts can be a smart move. On the other hand, if you prefer to keep savings accessible for shorter-term needs – such as holidays or emergencies – an easy access account offers flexibility, allowing you to withdraw funds when needed without early withdrawal penalties.” Sally Conway, head of savings, Shawbrook Bank
“Get clear on what you actually want, then name the money for it. Vague goals lead to wasted spending. When you know exactly what you are working towards, like ‘two weeks in Italy with the grandkids’ or ‘working three days a week by 60’, saving stops feeling abstract. Naming the pot creates emotional attachment, which makes you far less likely to raid it for everyday spending.” Philly Ponniah, chartered wealth manager and financial coach at Philly Financial
“When planning your finances for the new year, remember the tax changes announced in the autumn Budget. The personal savings allowance (PSA) remains at £1,000 for basic-rate taxpayers, and although the PSA thresholds themselves aren’t changing, income tax on savings and property income will increase by 2% from April 2027, and dividend tax rates increase by 2% from April 2026. This doesn’t change PSA thresholds, but it increases the cost of paying tax on interest above them. With income tax thresholds frozen, more people may be pushed into higher tax bands, increasing the likelihood of paying higher rates.” Sally Conway
“Pay with a credit card for anything over £100 to make sure you get your legal consumer rights – if something goes wrong the bank has to refund you.” Paul Lewis, financial expert and Saga Magazine columnist
“This involves committing to not spending any money on anything that isn’t essential for a set period of time. After this period, you can then decide to save this amount in a savings pot, use it as additional income or pay off any debts.” Liz Hunter, director at Money Expert
“Most banks offer a round-up service where every time you pay by debit card, it rounds the amount up to the nearest pound and automatically saves the difference for you. It’s amazing how quickly those pennies become pounds (or maybe I just use my debit card too much!)” Alex Edmans, product director, Saga Money
“Retailer newsletters are a very quick way to cut the price if you’re a new customer, as they are happy to trade a discount for the right to market to you for the rest of your life – or until you hit ‘unsubscribe’. To tempt you into correspondence, you could be offered anything from a meaningful percentage off your basket to free shipping. But signing up isn’t just about a one-off new customer discount, it can also unlock early access to sales and birthday offers.” Vix Leyton, consumer finance expert, Think Money
“Check your state pension forecast to see if you're missing any qualifying NI years. Many people are surprised to find gaps. If you help look after the grandchildren under 12 while a parent is working and claiming Child Benefit but doesn't need the NI credits themselves, that credit can often be passed onto you instead.” Chloe Phillips, certified financial planner and money coach at The Money Makeover
“Book in advance to get the lowest fares, or use one of the train booking apps which offer split ticketing [such as TrainPal, Split My Fare or Traintickets.com] to save even further.” Alison Ortiz, head of product, Saga Money
“If you’re aged 60 or over, a senior railcard can save you a third on ticket prices, whereas for younger people travelling with someone else, it’s worth considering a Two Together railcard. [The second person can be anyone you travel with, and it can sometimes pay for itself on just one long trip].” Sarah Coles, head of personal finance at Hargreaves Lansdown
“If your train is delayed by 15 minutes or more, you can usually claim compensation through the train company’s Delay Repay scheme, and it’s far quicker than people think.
“It’s one of the few compensation processes that doesn’t make you jump through too many hoops, and it very quickly adds up. I clawed back over £700 last year simply by making a habit of claiming every time, and making these delays more costly for the rail companies is the only way they’ll ever consider meaningful improvement.” Vix Leyton
“If you travel by coach, you can get a Senior Coachcard from National Express. This costs £15 (plus £3 postage and packaging) and will save a third on all UK fares regardless of day and time. You can also get a £15 day return Tuesdays to Thursdays (excluding airports) if booked three days in advance and 15% off the ‘Fully Flexible’ fare on travel to certain large-scale events.” Helen Dewdney, consumer expert for The Complaining Cow
“Seat filling sites sell heavily discounted tickets to theatre, gigs and other events simply to get bums on seats. I paid just £15 to see Ruby Wax live in London and I saw tickets for Cirque de Soleil on New Year’s Eve on sale for just £6.50. Deals are usually for performances in the next week or two and there are loads of West End performances for under a tenner. Not everything is in London though – you can get super-cheap tickets for events all around the country.” Emma Lunn, personal finance journalist and writer for Saga Money
“Check whether any of your ongoing memberships or subscriptions come with a rewards or perks scheme. For example, Vitality health insurance gives you discounts on anything from new trainers and spa days to Garmin smartwatches. I just bought a new pair of running shoes for £50 instead of £100. O2 members can sign up to both O2 Priority, which offers discounts and freebies, and Airtime which gives you cashback on card purchases at selected retailers.” Emma Lunn
“Used coffee grounds are a brilliant way to save a trip to the garden centre. Rather than spending £5 in fuel and £20 in the coffee shop at the garden centre, make a regular home brew and use the old coffee grounds to boost the nitrogen, calcium and magnesium in your garden.” [You can add coffee grounds to your compost heap or directly (in moderation) to the surface of the soil, although it might be safest to avoid adding the grounds straight onto tomato plants and newly planted seeds as caffeine may affect these.] Simon Bridgland, director at mortgage and protection adviser, Release Freedom
“Nearly a million pensioners are missing out on pension credit worth up to £10,000…. Other benefits that pension credit claimants could get are council tax reductions, cold weather payments, free NHS dental health treatment, a free TV licence (for over-75s), housing benefit support and the winter fuel payment.” Liz Hunter
“Millions of tax codes are wrong every year and it is your responsibility, not your employer’s or HMRC’s, to check it. You may be overpaying, or underpaying, something that can happen if you change jobs, earn money from more than one source, such as a part-time job or a property portfolio, or have recently retired. Checking your code could see you receive a generous rebate.” Alice Haine, personal finance analyst at Bestinvest by Evelyn Partners
“Each year I tend to have a ‘New Year declutter’ and anything that’s no longer needed can be sold either online on sites like eBay and Vinted, or locally on sites like Gumtree and Facebook Marketplace to boost savings and income.” Liz Hunter
“Dynamic currency conversion (DCC) is a service offered in shops, ATMs and restaurants abroad that lets you choose to pay in your home currency instead of the local one, when you pay by card. But you should always decline this conversion and opt to pay in the local currency (such as euros or dollars) instead. When you accept DCC, the exchange rate is set by the merchant or ATM provider rather than your bank or card issuer, and it usually includes a markup that makes the transaction more expensive.” Emma Lunn
“While Aldi was the cheapest supermarket this month (December 2025), the discounters battling it out each month means shopping at Lidl is also a great money-saving option, according to our latest price analysis.
“The longer list of groceries shows that Asda continues to be one of the UK’s cheapest supermarkets and a good option for those who want to choose from a larger range of branded goods.” Reena Sewraz, retail editor, Which?
“The prescription charge in England is £9.90 for under-60s (but free in Scotland, Wales and Northern Ireland). A 12-month PPC costs £114.50. If you pay for NHS prescriptions and need two prescriptions a month, it could save you £123 a year. This rises to a saving of more than £241 a year if you need three prescriptions a month.
“If you get prescriptions for HRT, you may save more with the Hormone Replacement Therapy Prescription Prepayment Certificate (HRT PPC). This costs twice the cost of two single items – so £19.80 for the year.”Rachel Wait, personal finance journalist and writer for Saga Money
“Go through your bank statements and list all the services you’ve subscribed to, from newspapers and gym memberships to paid-for apps on your phone and TV streaming services. Then cancel all those you don’t use. If you use TV streaming services, think about subscribing to one at a time, watching everything you’re interested in and then switching.” Rachel Lacey, personal finance journalist and writer for Saga Money
“There’s nothing wrong with checking when you go to restaurants, shops or cafes to see if they can offer any money off for pensioners or have a pensioner-specific menu.” Liz Hunter
“You can save a surprising amount of money by choosing non-branded over-the-counter painkillers and medicines instead of well-known brands. Generic versions contain the same active ingredients, work in the same way and meet the same safety standards, but usually cost much less because you’re not paying for branding or marketing. By checking the active ingredient and strength rather than the name on the box, you can cut everyday healthcare costs without sacrificing effectiveness.” Emma Lunn
“Many police forces sell on stolen goods that they’ve seized, and you might be able to grab a bargain on bikes, watches and other items that cannot be reunited with their original owners. Some police forces do this through auction houses, while others have set up eBay shops online, such as this one from Sussex Police and this one from Leicester Police.” Rachel Wait, personal finance journalist and writer for Saga Money
“The over 60s can access Odeon Silver Cinema, where standard seats are £3.50 when you book as a myODEON member online and £4.50 in-cinema. Cineworld’s offering is CineSeniors, providing a range of films on Wednesday mornings for £4.50. Both include tea, coffee and biscuits!” Helen Dewdney
“You may be paying for policies [such as life insurance] that you no longer need now that your children are financially independent. Or you may have stopped smoking since you took out the policy, and may be able to replace it with a lower monthly premium.” Joshua Gerstler, chartered financial planner and wealth manager at The Orchard Practice
“If you’ve got extra time on your hands, look into becoming a mystery shopper and get paid to shop. It can also be a nice way to enjoy top-up groceries, nice meals out, spa and gym access or just a little extra spending money.” Jane Hawkes, consumer expert at ladyjaney.co.uk
“If you have more bedrooms than people in the house – or the same number – then a typical person will save money with a water meter. It also gives you the chance to cut your usage and save even more.” [This is particularly important given that water bills will rise significantly over the next five years]. Sarah Coles, personal finance expert at Hargreaves Lansdown
“Make sure you’re claiming all the benefits you’re entitled to, whether that’s Personal Independence Payment, Employment and Support Allowance or Carer’s Allowance. These can provide a vital financial lifeline, so head to the Independent Age website to find out more or try the Turn2Us benefits calculator.” Rachel Wait
“If you’re embarking on a project and need a wallpaper stripper or a hedge trimmer, ask neighbours, friends and family if they have one you can borrow first. If you can’t borrow what you need, check out sites and apps like Gumtree, Freecycle and Olio to find what you need – often for free. If you live in London, you can borrow all kinds of tools for a small fee from the Library of Things.” Rachel Lacey
“Specialist and digital banks can sometimes offer better rates than mainstream providers. Many of these banks also have a deep understanding of what people need, providing tailored products that work harder for your money. If they’re covered by the FSCS, your money is just as secure (up to £120,000 for sole accounts). Don’t limit your options to the big names when exploring alternatives as it could lead to better returns and smarter financial moves.” Sally Conway
“One of the simplest things you can do to save more money is to make sure less of what you’ve already got built up goes to the taxman. You can do this by wrapping investments in an ISA where they are free from income and capital gains tax, which is extra-important now tax bands have been frozen, and the amount of dividends and capital gains you can make each year without paying tax have been dramatically scaled back.” Laith Khalaf, head of investment analysis at AJ Bell
“If you’re single, don’t assume you can’t take advantage of couples’ discounts. When I was living on my own, a friend and I joined the gym as a couple and saved significantly. Check whether the business allows couples to live at different addresses though.” [Or if you live with someone who isn’t your partner, like a parent or grown-up child, you can usually make savings with joint memberships.] Sarah Coles
“If you have a credit card, pay it off in full each month to avoid interest charges. If you cannot do that, then make sure you have paid off the cost of something you bought before you have to buy it again.” Paul Lewis
“Scan all the products on display for deals, and not just those at eye-level – as better savings can often be found on the lowest or highest shelves. Don’t be ashamed to fill your basket with reduced items close to their sell-by date.” Alice Haine
“As well as saving you money, you’ll benefit from fresh air and exercise. Think about what’s easy to grow and what will be the most cost-effective, as well as how much space you have. Salad leaf seeds can be bought cheaply and can grow in abundance, while blueberries and gooseberries can easily be grown in containers.” Rachel Wait
“You may have money lying in a savings account or pension you’ve completely forgotten about, so make 2026 the year to track these down.
“My Lost Account is a free service that brings together three tracing schemes, UK Finance, the Building Societies Association and National Savings and Investments, making it easy to hunt out accounts you didn’t remember having. You’ll need to set up a profile and fill in some personal details online to get started.
“You can also try the government’s free pension tracing service [which doesn’t actually trace your pension for you, but does have contact details for more than 200,000 pension schemes].” Rachel Wait
“Market expectations are for another two or three base rate reductions in the new year. This will provide a welcome shot in the arm for the housing market now, which suffered from pre-Budget speculation over property taxes which on the whole were not as bad as many feared.
“Those remortgaging in the next few months have a free throw of the dice as rates can be booked up to six months before you need them. You can book a rate now and review prior to completion – if rates have fallen by then, you can enquire about switching to lower rate. If not, you can keep what you have.” Mark Harris, chief executive of mortgage broker SPF Private Clients
“With the biggest discounts typically awarded to those with loyalty cards – or shoppers that choose to online shop or smart shop in store with a scanner or their mobile phone – signing up for a loyalty scheme is a no-brainer.” Alice Haine
“You are entitled to free eye tests when you reach 60 and should get your eyes tested every two years and then every year after 70.” [Specsavers and Optical Express also offer 20% off glasses for the over-60s.] Helen Dewdney
“Last year I invested in something that sounds spectacularly boring, but which I’m quite excited about – smart radiator valves. Essentially itmeans I can decide exactly how warm I want each room, and exactly when.” [Installing a programmer, thermostat and thermostatic radiator valves could save £110 a year on your energy bills – although the initial outlay will be significantly more than this.] Sarah Coles
“Create a realistic budget: This is about control, not restriction, helping you allocate funds effectively, identify areas for potential savings, and stay on track. Start by gathering all financial information – payslips, statements, bills – to understand your income and expenditure.”Craig Tebbutt, financial health expert at Equifax UK
“Get into the habit of monitoring your credit score and report: This provides a vital snapshot of your financial health, how lenders might view you, as well as helping to spot potential fraud.
“Understand what impacts your creditworthiness: For example, showing you can use a credit card responsibly might help improve your credit score – but be sure to at least make the minimum monthly repayment to avoid fees, penalties and damage to your score. It’s also wise to keep a low credit balance, as using a large portion or all of the available credit might signal to lenders you are financially stretched.” Craig Tebbutt
“This is a brilliant way to enjoy luxury living in someone else’s home without the hefty bill. There are plenty of websites where you can list your property and swap it for a villa in Italy or a townhouse in Paris.” [Homelink, Homeexchange.com and People Like Us are among the options – there’s a fee to join but you can usually have a free trial first.] Karen Cunliffe, managing director at Red Star Wealth
“If you have a New Year’s resolution to learn new skills or a new language, you could look into taking a new course or even a university degree in your spare time… There are free short courses from the Open University, or for longer courses, check if you could get some support with costs.” Liz Hunter
“Not all broadband contracts are the same. Higher speeds usually mean higher prices, so it’s important to only pay for what you need. If your digital demands include activities such as streaming, online shopping, calls, emails, a standard entry-level fibre deal with download speeds of 50Mb would be more than enough.
“If you receive benefits and universal credit, it’s likely you’re eligible for a broadband social tariff. These are broadband deals at a reduced monthly cost.” Alex Tofts, broadband expert at Broadband Genie
“Are you paying fees for benefits you are not taking advantage of? You could save hundreds of pounds a year if you no longer need the account.” [Packaged bank accounts typically cost £10-20 per month. They can be good value if you’ll use all the perks, but if you’re not using them that’s money down the drain. Switch to a free account offering a cash incentive and make money instead.] Joshua Gerstler
Looking for a cheap day out? National Trust offers a senior membership rate for over-60s, as long as you’ve been a member for the last three consecutive years. Toget the senior membership concession you’ll need to call 0344 800 1895.
If you’re over 65, you can pick up an English Heritage membership for £69 a year, compared to the standard £82 a year. It's also worth looking to see if you can find a discount code online that will let you save even more.
“I have wasted lots of money in the past by buying things in the sale, just because they were discounted – clothes especially, but then they’ve just gathered dust in the wardrobe. Now I am no longer fooled by buying things just because they are reduced. I always make sure that it’s something that I will really use or need.” Alex Edmans
“I don’t get time in the week to do much home cooking and it’s always tempting to reach for those less healthy and more pricey convenience foods. So I try to batch cook at the weekend and freeze portions of my favourites, ready to be defrosted as and when I need them. That way I save money and time, and also get to enjoy healthy and tasty family dinners.” Alison Ortiz
The definitive list of travel discounts for train, coach, and bus travel across the UK.
Discover the tools you can use to spend less on train tickets
Our guide explains how ISAs provide tax-free growth for your savings and investments.
Discover the discounts and deals that cut the cost of a great day out.
.jpg?la=en&h=354&w=616&hash=5B2DDC7FA6F8687D79D901D435A709DA)
Find out which tools and guides that can help you complete your tax return.
Find out the pros and cons of downsizing to cut your IHT bill.
