Families can save over £1,200 a year with simple lifestyle change

Laura Rettie, editor-in-chief of Finance.co.uk, said a family can save £1,200 a year by reducing their spending on takeaways and restaurants. She offered some simple tips to help hard-up Britons reduce their costs.

Ms Rettie said: “Over the past two decades, we’ve seen an enormous increase in the availability of a diverse range of restaurants and takeaways available to enjoy on Britain’s high streets.

“Dining out or spending on fast food and drink was once viewed as a rare treat, but over the past two decades, it’s culturally become the norm.

“However, this trend comes with a substantial cost, with individuals spending an average of £50 to £60 per month on takeaways and restaurants.”

She said people can enjoy “significant” financial and health benefits by cutting back on this expenditure.

The savings expert said: “By opting for homemade meals and bringing coffee in a flask to work, the average household can save over £1,200 annually, considering that the average person spends over £600 a year on dining out and takeaways.”

People can also cut down their food costs by looking for ways to reduce their supermarket and groceries bills.

Anita Naik, savings expert at VoucherCodes.co.uk said there are several “quick and simple” ways people can reduce these costs.

One way is to switch to the supermarket’s own branded items. This could apply to items such as frozen food, condiments or cereals.

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For example, at Asda, a four pack of Heinz baked beans costs £2.41 per kg while a person could get the same amount for half price with Asda’s own brand, at just £1.04.

Loyalty schemes are another way to accrue savings over time. There are often deals and discounts all through the year for customers.

Research from Which? found a person can save between 50p and £10 for every £100 they spend by using these schemes.

The schemes are available at most major supermarkets, such as ASDA Rewards, Sainsbury’s Nectar Card, My Morrison’s, and Tesco Clubcard.

Another tip for those looking to slash their costs is to switch to shopping in the evening. Many supermarkets put discounts on several items late in the day, which are near their sell by date.

These items often have a yellow sticker indicating the reduced price. Even though they are near their sell by date, they can often be frozen and used at a later date.

Tinned and frozen foods are also cheaper than buying fresh items, as well as having the advantage of lasting longer.

At Sainsbury’s, fresh broccoli is priced at £2.30 per kilogram where as the frozen version is just £1.44 per kilogram.

Shoppers can also keep their costs down by writing a shopping list to avoid additional spending on unnecessary items.

A person may want to switch to shopping online to avoid the temptation of picking up a non-essential treat in the shop.

People should also make sure they are not hungry when they go shopping as this may cause them to purchase more than they need.

Grocery price inflation increased to a record 17.5 percent in the month to March 19, with the price increases adding an extra potential £837 to a household’s yearly bills.

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