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Revealed: Lifehacks from inside the Money Advice Service...

Working for the Money Advice Service means we are constantly trying to come up with ways to improve your finances and help you keep track of your money. But what are the money-saving tricks we try to use in our own lives?

For me, instead of going out for dinner, I have a rota with two of my friends to cook each other dinner every fortnight. It doesn’t have to be too fancy – one of us cooks the main meal; another brings a pudding and another brings a bottle of something to drink. Avoiding the mark-ups in restaurants and relaxing at home instead can be a lot more fun.

I also love a good rummage in a charity shop or two  - in the more affluent areas, you can often get some bargains for items that would be out of my price range otherwise.

Below, five of my money-aware colleagues give their money savvy thoughts.

Money tips from the Money Advice Service 

Trisha Doyle

‘My top tip would be to avoid the gym – contracts can trap you if you have a change in circumstance and there are loads of free apps and videos out there.

The NHS also has a Couch to 5K plan, which is worth checking out. ‘

Michele Martinelli

By turning down your heating by just one degree you can cut your annual bills. In fact, research from Energy UK has shown that if you live in a three bedroom semi-detached house, this can cut your annual bills by 10%, or £85.

It is a good idea to switch your energy too. New rules mean many suppliers can switch  you in just 17 days, so the process is quicker and easier than ever before.'

Vik Iyer

You can make supermarket shopping cheaper by using the burgeoning market in budget recipes guides and blogs. Take a look at our guest post from Frugal Queen for some ideas.

You can also find out if you have local community resources such as Facebook groups where people swap things or sell second-hand goods.'

Andy Webb

If you’re going on holiday, you should consider getting a credit card or debit card that doesn’t charge an exchange or cash machine fee.

Also, if you’re spending abroad, pay in the local currency rather than pounds to get a better exchange rate.'

Owen Bailey

‘You should always complain if you get poor service or mistakes from your bank or other financial organisation. It may feel slightly awkward to ask, but you can sometimes get compensation if you’ve lost money.'

What little tricks do you have tucked up your sleeve to try to save money in your everyday life? Share your thoughts in our comments section below.

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  • Jeannette / 5 April 2015

    When cooking a meal I like to make double and freeze the extra away. It means you save money by buying economy packs and halving oven fuel costs. It also means you always have 'ready meals' available at short notice. This works whether you are cooking for one or for a gathering.

  • Pat D / 2 April 2015

    Hi
    I always plan my meals for the whole week. That means I can just shop once. I also stick to the shopping list ( unless there is a real bargain which can replace something on the list). You don't waste food that way and you don't have to the n&k of what to cook when you get back from work.