We’re all feeling the pinch at the moment, but simply getting a better paying job isn’t on the cards for most.
But there are small cutbacks you can easily make online.
Plus, there are ways to make a little extra income to help ease the load amid the cost of living crisis.
From money-saving switches to investing for beginners, these are the sites and hacks you need to know about going into this tough winter.
1. Switch your mobile deal
While most of us can’t save on our energy bills at present, there are other monthly bills where we could save by making the switch. Get online and compare SIM-only mobile deals – especially if you are coming to the end of your contract.
A spokesman for Martin Lewis’s MoneySavingExpert website says that we are in the midst of a ‘SIM price war’ – meaning it is possible to get cheap deals on your mobile phone.
You should also ensure that you’re not paying for more data than you need – check your usage before signing a deal – there’s no point paying for data you don’t use.
‘If you’re paying more than £5 a month for your mobile, now is the time to check you’re not massively overpaying,’ the spokesman added.
You can find out more at comparison sites such as MoneySuperMarket and Uswitch.
2. Make cash through surveys and apps
If you are spending your evenings scrolling the internet randomly, there are sites that can make your hobby pay.
Try Swagbucks, which allows you to fill out polls or watch videos to make money, or fill in surveys with Qmee, the Curious Cat app or Branded Surveys to build up points or cash over time.
If you do this, though, remember to set up a specific email address for your surveys and other moneymaking schemes, otherwise your ordinary email address will be swamped.
3. Clear your clutter for cash
OK, you might have to move off the couch for the first part of this money saving exercise, but the rest can be done with your feet up.
Simply take stock of unused items around your home to see whether you could turn unwanted items into cash.
Clothes, books and CDs are an obvious place to start, but there are other items you can consider, such as outgrown children’s toys.
‘Lego holds its value really well and you’ll even get money for old manuals and remote controls,’ says David Beard, personal finance expert at comparison site Lending Expert.
As well as well-known sites like eBay for selling, you could consider Ziffit and Music Magpie for books and CDs.
These make it easier to sell items by allowing you to scan the bar codes on the back for an instant listing, and you can even get a courier to pick the items up for free if you have enough to sell.
4. Sign up for cashback
Shopping online also gives you the chance to use cashback sites, where saving as you spend soon adds up. Sites such as Quidco and TopCashback pay you a percentage of the amount you spend online with many retailers, as long as you click through them first.
For example, Quidco is currently offering 5% on all clothing bought through Tu at Sainsburys and a similar percentage when you book a Travelodge. TopCashback offers around 5% back with Deliveroo and more than 20% back on Post Office travel insurance.
5. Get started with investing
The stock market is volatile, and you could lose money as well as gain some, but studies show that over time those who invest in a long-term and diversified way usually do better than those who put their money into the bank.
There are many resources online to get you started with investing, whether you want to jump straight in or try a virtual portfolio first.
DIY investment companies such as Hargreaves Lansdown and interactive investor allow you to create virtual portfolios to try out investment before you get started.
Meanwhile, new low-cost investment service Dodl is designed for beginners and aims to help you learn about investing.
6. Set up a side hustle
Making a little extra cash online will help with the family bills, and there are many ways to use your talent and time to bring in some extra cash.
HMRC allows you to earn £1,000 each tax year from what it describes as ‘occasional jobs’, without declaring it on a tax return.
‘There are hundreds of ways to boost your monthly income and earn extra money, and a lot of it can be done from the comfort of your sofa,’ suggests a spokesman for website NetVoucherCodes.co.uk. If you have expertise in a particular area, or life experience to share, they advise that starting a blog can be worthwhile.
‘This won’t produce income immediately, as starting and growing a blog can take time, but if you do it consistently, it can be one of the most lucrative side hustles.
‘The growth potential of a blog is practically limitless, so if you’re looking for a long-term side hustle, this is a great option,’ the spokesman added.
Other options from the couch include tutoring children via websites such as Tutor Hunt and Tutorful if you have the skills in the right areas, while the spokesman also suggested virtual roles suchas transcription work, online virtual assistant services, and online social media management.
7. Enter competitions
Entering free competitions online could yield you some exciting prizes. Seasoned ‘comper’ Di Coke suggests focussing on low-value things you are interested in when entering competitions, to maximise success and satisfaction.
‘Think of the brands you use all the time and see if they’re running giveaways and competitions, whether that’s the cereal you have every morning, your kids’ favourite chocolate bar, or even petrol for your car. And something you’d really love to have, but can’t quite afford, perhaps a Disney+ subscription?’ she advises.
Meanwhile, Jeremy Stern, who runs promotions website PromoVeritas, suggests maximising your chances by entering competitions where there’s an extra step to take.
‘Far less people will enter a competition simply because they require a degree of skill – a tie-breaker, taking a photo or creating a recipe – which is why they’re always worth giving a go. You may well find out you’re a lot luckier than you thought!’
8. Shopping for deals
Online shopping for shopping’s sake won’t save you cash this winter, but if you have items that you really need to buy, the internet can make the process cheaper. Ensure that you always use Google Shopping when searching for an item you need – as it will try to find you the cheapest price on it.
Once you’ve found the cheapest site, searching for online discount codes could take off even more money.
If you have time to search around for an item and wait for the price to drop, Sam Whillance, a savings expert at discounts platform Deal.Town, recommends setting up an alert on CamelCamelCamel, which tracks Amazon prices – so that you’ll receive an email when the item you want falls in price.
Even if a product is ‘on sale’, for example on Amazon Prime day, Sam recommends checking you are really getting a bargain.
‘An investigation into last year’s Black Friday deals by Which? found that an astonishing 85% of products in the sales had already been available at the same price or less in the six months before. It’s important to check the price history of your product to determine whether you are actually getting a deal at all.’
9. Improve your financial management with free tech
Some savers swear by Excel spreadsheets or even a handwritten notebook to keep control of their spending, but these days there are free apps that can really help you to budget, thanks to new rules around Open Banking.
Open Banking means that you can allow third-party apps to see the transactions in your online bank and credit card accounts, giving you the chance to see all of your financial transactions in one place.
Clever websites and apps such as Money Dashboard and Emma allow you to see your finances in the round, and can show you graphs of where your money is going to help you to save.
10. Use tech for old-fashioned tips
Tech can save you money, but it can teach you about more old-fashioned money-saving tips too. Spend some time on the Old Style MoneySaving forum – which is part of Martin Lewis’ MoneySavingExpert site – to learn from the best.
Tips on the site at present include doing a lightbulb audit to check you are not paying too much for electricity, and ‘reverse meal planning’ – using what you have in your cupboards and freezer to plan your meals rather than planning meals and then shopping for ingredients.
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