23 quick tips to save cash for 2023

No drama, no fuss - just simple, speedy, easy ways to keep £1,000s of your cash in your pocket

Happy New Year. As sadly this year is looking just as financially tough as the last one, in each email in January we'll be running you through the hardcore money must-dos.

Yet rather than going in straightaway with both feet, we wanted to start you off with quick, easy savings where you can take action without too much hassle. So have a scan through these...

1. Married (or in a civil partnership)? Are you due £1,242? If you're married or in a civil partnership (not just living together) then there may be a big tax break available. To qualify...

- One must be a non-taxpayer (so earning less than about £12,570 a year).
- The other, a basic 20% taxpayer (so earning about £12,570 to £50,270 a year in England or to £43,662 in Scotland).

Then the non-taxpayer can apply to shift 10% of their tax-free allowance to their spouse - worth £252 this year, and backdatable four years, adding an extra £990. You can apply at Gov.uk though better to read full pros & cons in our Marriage tax help guide first.

2. Earn 1% cashback on all 2023 spending (can be worth £100s).
Sign up for the Chase* bank account app (you don't need to switch bank, and there's no hard credit check - so it's really speedy) then use its debit card to pay and you get 1% cashback on all normal daily spending for 12 months. It also has a near-top paying linked savings account and top debit card for spending overseas. More info in Best bank accounts.

3. Household income under £40,000? Spend a few minutes to check you're not one of 7 million missing out on benefits. Martin's rule of thumb is all households earning under £40,000 should check - he's not saying you'll get it, just it's worth the time on a benefits calculator. As Forumite Jaxster69 said: "Thanks to a link I spotted in one of Martin's weekly emails, I discovered I was entitled to some universal credit to boost my income. I'm now receiving over £500/month extra - which is helping me a great deal."

4. 100,000s of free water-saving gadgets available - they help cut energy bills too. Water firms hand out free water-saving gadgets, including shower heads, tap inserts and winter insulation kits. Quickly find out if there's any you can get at Save Water Save Money (and as much of the water we use is heated, it can cut energy bills too). PS: Also check Should you switch to a water meter? - some save £100s.

5. Take two minutes to check if you can halve your broadband bill - seven million are out of contract and massively overpaying. Many on older contracts are paying £30 to £45/month for slow broadband. Yet two minutes on our broadband comparison can often find deals saving £200+/year, at faster speeds. To put that in context, you can get superfast fibre broadband for less than £19/month.

6. On universal credit or similar benefits? Check if you qualify for special social broadband deals. There are four million people eligible, but only a small proportion are on these special, long-lasting cheap deals. See our list of discounted social broadband tariffs.

7. Do your savings pay at least 2.85%? If not, ditch & switch. Rising savings rates were one of the few silver linings of 2022, yet in reality returns are still being dwarfed by inflation. So it's vital to minimise the erosion by ensuring you earn the best rate.

For easy access, app-based Zopa's 2.86% AER or for online Coventry Building Society's 2.85% AER (max six free withdrawals a year, though rate rises to 3.25% on Fri 6 Jan). Many want a big name though, the top payer of which is Nationwide's 2.5% AER* (max 3 free withdrawals a year). You can earn far more though if you're prepared to lock cash away with the top one-year fix at 4.26%, two years at 4.54%. Full help in Top savings and Top cash ISAs.

8. Can you get £2,000 help with childcare costs? If you pay for childcare (and work, or you're a couple that both work), then you may be eligible for Tax-Free Childcare, where the Government gives a 20% top-up, up to a maximum of £10,000 (so an extra £2,000 from the state). While you can apply via Gov.uk, as there's a lot you should know, it's best to read our Tax-free Childcare guide first.

9. Can you save £100s on car insurance? Insurers are banned from charging existing customers more to renew than newbies, but savings are still possible by comparing and switching.

Use our MSE Car Insurance Compare+ tool to fill in one questionnaire to see your cheapest insurers as a benchmark, and we'll then give you bespoke, personalised tips - such as timing your quote or adding additional drivers - to cut costs down further.

10. Save on home insurance too. Big savings can be made here too. See our cheap home insurance cost-cutting system for full help, though here are a few key tips:

- Diarise 21 days pre-renewal to compare - it can shave 20% off costs.
- Use a few comparison sites as they search different firms, and have exclusives and their own perks. Our order's currently: Compare The Market*, Confused* & MoneySupermarket* (see how we order).
- Then add in Direct Line which isn't on comparison sites.

11. Are you owed £1,000s in tax? Check and reclaim. Your tax code is the short number - such as 1257L - that tells your employer how much tax to take from you. Millions are wrong each year, and the rules say it's YOUR RESPONSIBILITY to check it's correct (not your employer's or HM Revenue & Customs'). So use our Tax Code Calculator to check if yours is likely right or wrong.

12. Under 40 & want a house one day...? Put at least £1 in a Lifetime ISA. A Lifetime ISA lets first-time buyers (aged 18 to 39 on opening) save towards their first home (which must be under £450,000) and adds interest and a 25% boost when it does so. Yet it needs to be open for a year before you're due a bonus, so even if you're not at that stage, put a quid in one now to start the clock ticking. Find out more in Top Lifetime ISAs.

13. Can't afford to clear your credit card in full? You can't afford not to check if you can get 0%. A balance transfer credit card lets you shift existing debt to a new card, so you owe it instead, but it's interest-free for up to 30 months. Acceptance is the problem, so spend two minutes on our Balance Transfer Eligibility Calculator to see which top cards you're most likely to be accepted for. Aim for the longest 0% deal to pay off your debt, then look for the lowest fee.

PS: Martin's planning to do a debt-cutting masterclass next week.

14. Find your cheapest petrol or diesel in seconds. Put the brakes on fuel costs by using a handy tool to find your cheapest local forecourt. For example, in Birmingham on Tuesday we found unleaded from 135.9p a litre to 151.8p a litre - a saving of almost £9 when filling a typical tank. Use PetrolPrices.com to find the cheapest fuel near you. Also read tips to drive more efficiently, which can have an even bigger impact.

15. Get £175 free cash switching banks. There's only one bank paying switchers at the moment, though we suspect more deals will come in the next few weeks - so you may want to hold to see. First Direct gives switchers £175, has a linked 7% savings account where you can save up to £300/month and regularly tops our best customer service poll. Though it's currently experiencing some processing delays, so you have to apply via its app. More help in Top bank accounts.

16. Grab tax back if you wear a uniform to work. If you're responsible for washing, repairing or replacing your uniform, you could claim a tax rebate on the expenses you incur, going back as much as five years. It's not huge but backdated can be £60 (£120 for higher-rate taxpayers). See our uniform rebate help for quick info.

17. Click into your online banking and check your direct debits and standing orders. Many people have money unnecessarily dripping out of their accounts for services they no longer use or want. Think unused streaming subscriptions, gym memberships or insurance. So it's always worth checking - it's easy to do with most online banks.

More difficult to spot are hidden recurring payments (where you give firms permission to take money each month from your debit or credit card). For help, see recurring payments.

18. Go green and get paid. Recycling is something we should all be doing where we can, but did you know you can get PAID to recycle clothes, empty beauty containers, old phones and more? We've this and more in 28 quick ways to go green and save.

19. Get Demotivated to cut out non-essentials. Ever worked out how much you spend each month on takeaway coffee? The Demotivator tool will show you (and possibly frighten you) - then see How to stop spending for full tips on cutting back.

20. Can you cut £10,000s of mortgage costs by overpaying? If you've got savings and a mortgage, use our Mortgage Overpayment Calculator to see if you can save by clearing the mortgage with the spare cash. 

Do always ensure there are no penalties for doing so though, leave yourself an emergency cash fund, and ensure any overpayments reduce the term rather than just reducing future repayments. More help in Should I overpay my mortgage?

21. Are you in the wrong council tax band? It's thought 100,000s of homes in England and Scotland are in the wrong band. Rebanding isn't quick, but the provisional checks to see if it's worth it are...

- Neighbours check. Use Gov.uk (Eng) or Scottish Assessors (Scot) to compare your band to neighbours' in similar or identical homes.
- Valuation check. If that says you may be in the wrong band, use our valuation check to work out what your home's 1991 value would be (as that's what counts for council tax).

If they're looking good, it's important you read our full council tax check & challenge system to see whether it's worth you challenging your band (don't just go for it, as there are risks).

22. Do you qualify for a council tax discount? If you're the only adult in the home, have a disability, 'severe mental impairment', low income, or a carer (or you are one yourself), check our guide to see if you're eligible for a discount.

23. And finally... struggling with serious debt? Get free help ASAP. If you can't meet your minimum repayments, OR your debts (not mortgage or student loan) are bigger than a year's after-tax income, OR you're having sleepless nights over debt...

Then please go to a free non-profit debt advice agency ASAP (though admittedly they're rammed this time of year). These include Citizens Advice, National Debtline, StepChange, which also runs an online debt advice service or, for emotional counselling too, CAP.