5 life hacks to help you save money

Early this year Chancellor George Osborne announced an increase in Insurance Premium Tax (IPT) from 6% to 9.5% from November. According to Money Saving Expert these increases will apply to pet, car, mobile, contents, buildings and private medical insurance and is therefore expected to affect millions of households across the UK1.

With the IPT increase coming into effect next month and with Christmas approaching, yes we said the c-word, we have put together five life hacks to help you save money…

Use Cash Instead Of Card Life Hack

1. Use cash over card 

Using cash rather than a card when shopping could save you money! Psychologist Dr Priya Raghubir explains that we are more likely to spend more when we use a credit card to pay for our purchases but when we use cash we are more likely to spend less, he says: “"The more transparent the payment outflow, the greater the aversion to spending, or higher the 'pain of paying'. Cash is viewed as the most transparent form of payment.”

Sell Your Old Stuff Online Life Hack

2. Sell your ‘old’ stuff online

One man’s trash could be another’s treasure - Some items that are just lying around your home could be worth some serious cash on eBay. Mother Cathy Hayes, ditched her job to become a full time online seller, earning around £100,000 a year. She explains how it all started: “I searched through the loft to see what I might be able to sell. I came up with a random assortment: Fisher Price toys, children’s clothes, an old boiler, a Seventies telephone and a buggy in mint condition. Onto eBay they went. By the end of the week they had all sold, I was £600 richer — and hooked.”3

Read Money Saving Expert’s guide to selling stuff online

Turn Off Tv Life Hack

3. Switch it off

The average UK household spends between £50 - £86 a year on gadgets that are ‘inactive’ or are in standby state which is equivalent to 9pc to 16pc of the average electricity bill4. Remembering to switch off any electrics at the mains rather than leaving them on standby could save you money and decrease the amount of energy you’re wasting. 

Swap Your old Clothes Life Hack

4. Swap your clothes for quick cash

Many high-street shops offer a scheme whereby you can swap your unwanted clothes for cash or a voucher equivalent. For example Marks and Spencer and H & M both run separate swapping schemes where you can take your unwanted clothes to your local store and receive a voucher to spend in store and online or you could donate any clothes you no longer wear by dropping them into one of the stores.

Refill Bottled Water

5. Don’t buy your H20

Did you know the average Briton spends around £25,000 on bottled water in their lifetime? By filling up a re-usable bottle with tap water you will not only save money but will be helping to decrease the impact it has on the environment4.

Ipt Increaeses Health Insurance

Don’t miss your chance to save money on health insurance now! With the insurance premium tax increases set to be implemented in just under a month you have the whole of October to save money by getting a quote now. To speak to one of our dedicated Account Managers simply call 01202 544255 or visit www.health-on-line.co.uk/quote to get a quote now. 



  1. Money Saving Expert – Summer Budget 2015: Millions face insurance hikes
  2. The Telegraph – Shoppers should carry cash instead of cards to save more money, say psychologists
  3. Daily Mail – I earn £100,000 a year selling bits and bobs on eBay
  4. The Telegraph – 10 ways to save money in 2014

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