Managing your money

Money saving hints and tips

10 ways to help you save

From reviewing your direct debits to switching energy supplier, there are lots of great ways you could save money each month. It might help give you a bit of extra cash to save for a rainy day. Here's some of our top tips.

1. Set a budget

A good habit is to set a monthly budget to plan your spending. It could help you spend less and save more. With the Ulster Bank app, you could categorise your current account transactions (e.g. household bills, groceries, eating out, travel, etc) to give you a more detailed picture of where you spend your money and help you to spot opportunities to save each month.

2. Start small

Focusing on small changes in order to save could make a world of difference when it comes to managing your money. Cutting back on a few of those non-essentials, like eating out or takeaways, could help you save a little bit each month – too drastic and they’ll soon creep back in. Slowly does it.

3. Set a savings goal

Make a list of short and longer term goals to work towards and watch your savings grow. On average, customers save twice as much when they save towards a goal.

Get ahead of the game and set-up a standing order to save a little each month too before all your bills come out. A great strategy.

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4. Save your spare change as you spend

Let your bank do the hard work for you by rounding up your everyday spending to boost your savings. When you pay with your debit card, the amount will be rounded up to the nearest pound, sending the spare change straight into your savings account.

Check out our Round Ups tool to find out how to get started.

5. Reduce your energy, go greener

Reducing your carbon footprint has never been more important. But we spend a lot of money on gas and electricity. That's why we've pulled together our top energy saving tips. We want to help save you money, and reduce your carbon footprint at the same time.

6. Switch energy supplier

Between 1 July 2020 and 31 December 2020, people who switched energy supplier for both gas & electricity with Uswitch saved an average of £216 (Source: Uswitch February 2021). With Uswitch you simply enter your postcode, a few details about your current supplier and Uswitch will do the rest. Save on your carbon footprint too by switching to green energy provider. 

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7. Shop around when it comes your TV, broadband and phone contracts

From your mobile tariff, broadband to TV packages. There are deals out there, if nothing else, challenge your current provider to match what you may have seen elsewhere to see if they can match it.

8. Ditch that old Direct Debit

If you take some time to scroll through regular payments on your app, it’s possible you’ll discover at least one Direct Debit or standing order you no longer need. For most, you can cancel these online or over the phone, but it’s worth checking any contracts you may have to avoid any cancellation fee or penalty.

9. “Do I really need this?”

If you're asking yourself that question, there is a good chance you already know the answer. From gym memberships to online subscriptions, if you’re not using it, cancel it. If that feels a bit drastic you can often pause payments to test the water first. Be strong.

10. Get rewarded for spending

It makes sense to do your research to find the best price but there are also ways you could earn some money back when you spend too.

We're proud to introduce Ulster Bank Rewards. Register your Ulster Bank contactless debit card with our Rewards programme and you'll enjoy great cashback bonuses when you shop at some of Northern Ireland's favourite retailers.

To avail of Ulster Bank Rewards you must be a personal contactless Debit card customer over the age of 16 years and resident in the UK.

Anything else we can help you with?