Top ways to make money go further in 2024 – like cooking at home rather than going out | Personal Finance | Finance

Brits are planning to make money go further in 2024 by cooking at home instead of going out, closely monitoring energy use – and freezing left over food, research has found. A study, of 2,000 adults, found 32 percent plan to buy things from different supermarkets to make sure they are getting the lowest price, while a quarter will be shopping for second-hand items in the upcoming year.

Others will be learning about investing, trying to find the best interest rates, and asking friends and family for energy saving tips.

More than nine in 10 (91 percent) see the importance of keeping an eye on energy use when trying to save money, so that they know they will have an accurate bill (45 percent). And 41 percent said that knowing how much they use helps them stick to their budgets.

A spokesman for Smart Energy GB, which commissioned the study, said: “The beginning of a new year can be a good time to make a lifestyle change, like saving money by home cooking, and shopping around to get the cheapest prices.

“It’s great to see so many people recognise how helpful it can be to track energy use when trying to make money go further.

“One of the best ways to do this is to request a smart meter installation from your energy supplier. They bring particular benefits for those currently on analogue prepay meters, allowing you to track your remaining credit, and top up online.”

Although 42 percent think January is the best time to set new savings goals, 81 percent believe it’s hard to make their money go further in Britain right now.

This is because everything is so expensive (73 percent), and it is hard to budget when prices of essentials keep changing (57 percent).

The supermarket shop, and their energy use, are the key areas Brits are most likely to carefully budget for – with 87 percent claiming to be good at sticking to their goals.

However, these areas also topped the list of the things which are hardest to cut back on – while treats, social life, and clothing are deemed the easiest to budget for, according to the stats by OnePoll.

National Energy Action chief executive, Adam Scorer, added: “Smart prepayment can be a game changer for those using an analogue prepayment meter.

“It enables suppliers to provide easier and faster access to emergency credit, and customers to switch from prepayment to credit if they can.”