We all want to save more and spend less, especially on essential purchases.

That’s easier said than done when grocery price inflation sits at more than 5% and electricity, gas and fuel bills have increased by 15%.

These top 10 UK tips for saving money in 2026 are straightforward and easy to implement.

1. Set a savings goal

Instead of a generic “save more”, set a savings amount with a specific goal in mind. This helps focus and direct your saving. The process of saving becomes an action rather than wishful thinking.

For example, you want to save £1,000 spending money for your holiday in Spain. You want to save £2,000 to pay off your car loan. You’ve set the amount, now name the goal… Spain Spending Fund or Car Payment Collection.

2. Track your spending

Saving doesn’t happen by chance. It requires actionable steps. One of the most important and first of these is tracking your spending.

This helps you see exactly how much money is being spent, where and when. It will also reveal where you can cut spending to make savings.

Start by recording all spending using an app (such as Emma), a spreadsheet or notepad. Some apps, like Emma, connect your bank accounts and credit cards (read only) so you can track all your transactions in real time.

3. Examine your bank statements closely

Many of us make monthly direct debits and subscriptions for services we no longer use or that are redundant. This may be due to auto-renewal or because we failed to cancel free trials.

Check your bank statements closely for payments to streaming services, gym memberships, mobile phone contracts, and digital content services, like news, music and gaming. Cancel any service you no longer use regularly.

4. Shop around for your broadband, TV and phone contracts

If you don’t want to do the legwork yourself, use a price comparison website to shop around for the best deals on broadband, TV and phone contracts in your area. You’ll be surprised how much you can save in communications costs.

Use sites recommended by Ofcom, the UK regulator of communications services, such as Compare The Market, Go Compare or  U Switch.

5. Pay insurance policies upfront

If you can pay for insurance policies upfront, you’ll likely save money. Many insurance companies charge an extra !0% or more on monthly premiums.

That could mean paying £550 a year, instead of £500, on your car insurance. That’s £50 towards your Spain Spending Fund.

6. Plan your grocery shop (like a military manoeuvre)

The average UK family is spending 5% more on groceries compared to last year, according to the Office for National Statistics. Some food items, such as beef and chocolate, have increased by as much as 20%.

A family of four (two adults, two kids) spends £165 each week on food – £121 on the weekly shop and £44 on restaurant and takeaway meals.

The best way to save money on your weekly shop is to plan. Plan your weekly meals, write a shopping list and don’t deviate from it when you get to the shops.

Before you part with any money, shop around. Compare prices across supermarkets, and opt for discount supermarkets like Aldi and Lidl, which are often the cheapest and continue to increase their market share. Download the Trolley.co.uk app to find the best prices across supermarkets on any day.

Avoid high-inflation items and shop seasonally. Swap meat for fish, which has decreased in price, or go meatless more often.

Buy essential items (like toilet roll and washing powder) in bulk when discounted and sign up for supermarket loyalty cards, which offer substantial discounts to members. The loyalty cards, from Tesco’s Clubcard to Sainsbury’s Nectar, are rated here.

7. Change your spending habits

In order to save, you may have to check in with your sensible side and alter some of your spending habits. This could be as simple as taking lunch and a flask of coffee to work and cutting out shop-bought snacks and lattes.

Instead of eating out in restaurants twice a month, reduce it to once, or opt for takeaways, which are considerably cheaper.

Cut out online spending completely. Just because it’s available on Amazon, doesn’t mean you have to buy it. Don’t even “rent” a Prime video. That’s usually at least £3.49 on top of your streaming fee.

8. Have a no-spend weekend

Plan one weekend a month when you spend nothing. Absolutely nothing. If you go out anywhere and will want to eat, pack a picnic and drinks.

Don’t pay for entertainment, such as the cinema, theatre or restaurants. Choose alternative entertainment, such as visiting a gallery or museum, many of which are free, or go for a hike or bike ride.

And keep off Vinted and other shopping websites. That skirt may only cost £4.50 (plus delivery), but small spends quickly add up over a year.

9. Save before you splurge

You’ve seen a pair of shoes you absolutely must buy, but they cost £90. If you want to splurge on this item, save the money first before you purchase it. For example, you could make these savings:

• don’t have a takeaway this weekend (save £42)
• cancel your monthly haircut (£45)
• be a vegetarian for a week (£18).

10. Pay off expensive debt

If you have credit card debt, pay it off as soon as you can. Credit cards carry high interest rates and debt costs more than savings can earn.

If you have a mortgage, consider paying more than the usual monthly amount, even £50. This could significantly reduce the total interest you pay over the lifetime of the mortgage and shorten the repayment period.

Use these over-payment calculators, Lloyds, Nationwide or NatWest, to see how it could impact your payments long term.

Getting a loan from Lamna

Our top 10 UK tips for saving money in 2026 can help you save money, but there are often times when you need to cover unexpected costs urgently.

At Lamna, we offer fast, discreet loans against the value of a wide range of assets, from luxury watches and jewellery to vehicles and artwork.

For more information about how to secure a short-term loan from Lamna, call 0330 341 1707 or use our online form to apply for a loan now.