Money Saving Tips 2026

It’s Talk Money Week … 

This year’s theme, ‘It All Counts’, is a reminder that even small, manageable changes can make a difference to our finances, helping us feel more informed, confident and in control of our money. 

Mike, Operational Co-ordinator of our Money Advice Service, has shared his top money-saving tips for 2026 to help you make your money go further. 

1)     Christmas isn't about spending money

You could have an early conversation before anyone feels awkward...

Mike’s tip:

“Before Christmas shopping starts, talk to family and friends about what you can all actually afford and set realistic affordable expectations.  Could you set a £10 limit, do a Secret Santa, or agree that adults don't exchange presents? If you’re having friends and family over for dinner could you each bring a dish or plate of food?”

2)     The National Living Wage increased in April 2026

The National Living Wage increased to £12.71 an hour for eligible workers aged 21 and over.

Mike’s tip:

“Check your payslip. If you're eligible for the National Living Wage, make sure your hourly rate reflects the April 2026 increase. Also check that your tax code is correct and you’re being taxed correctly.”

3)     Universal Credit's two-child limit was removed

From April 2026, the two-child limit on Universal Credit was removed, meaning eligible families can receive more UC support.

Mike’s tip:

“If your family circumstances have changed, or you previously assumed you wouldn't qualify for more Universal Credit because you have more than two children, check your entitlement again.  Benefit checkers like on Turn2Us, EntitledTo or Gov.UK can help you check that you are getting all the support you qualify for.”

4)     Check what your savings are actually earning

When did you last check your savings rate? If your money has been sitting in the same account for years, it could be worth checking what interest (if any) that you're actually getting. 

Mike’s tip:

“Check if there are any other accounts that pay better interest rates and also check as some have welcome offers where you can get cash or vouchers for switching your bank account”

5)     ‘Help to Save’ is now much easier to qualify for…

People who work and receive Universal Credit can qualify for Help to Save if they earn more than £1 a month. The scheme gives a 50p government bonus for every £1 saved, up to £1,200 in bonuses over four years.

Mike’s tip:

“If you’re working and claiming Universal Credit, check whether you’re eligible for Help to Save. Even small amounts can qualify you for a 50% government bonus after it has been in the account for the qualifying time.”

6)     The energy price cap changed on 1 October and is due to change again in January

Check your energy bill. 

Mike’s tip:

“If you are struggling and owe money, check if your supplier has a Trust Fund or grant scheme to help.  If your supplier doesn’t have a scheme to help, you may be able to apply for the British Gas Energy Trust.  Make sure that your supplier has up to date meter readings and your bills are being based on your actual usage.”

7)     A really simple one: check your benefits again

Your circumstances change. Your entitlement might too....

A pay rise, reduction in hours, having a child, caring for someone, moving home, rent changing or someone moves in or moves out of your household can all affect your benefit entitlement.

Mike's tip:

“Don't assume you aren't entitled to support because you weren't entitled last year. Use a benefits calculator and check again.”