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How to save £1,000 in a day – a checklist to overhaul your finances

SYSTEMATICALLY working through all your bills and outgoings to make sure youve got the best deal on everything.

It sounds simple but it could save you hundreds before youve even eaten breakfast and more than 1,000 by the end of the day.

Watch and money
How many of these steps can you complete to save some serious cash?

Heres how you can do it:

6.45am Its time to get up and take a shower

As a general rule if your home has the same or more bedrooms than people then you might be able to save money with a water meter. It means that you only pay for the water that you use.

Check if you could save with the Consumer Council for Water calculator.

Maximum saving: Up to 500 a year

7.30am Before you leave the house

When was the last time that you switched home insurer? A fifth of people have never switched, according

On average you could save up to 77.73 a year by comparing policies. You can do this by using a comparison website, like, or

Maximum saving: Up to 78 a year

9.15am When was the last time your switched bank account?

You could pocket up to 200 a year by switching bank accounts. Yes, free money! To qualify for the cash you will usually have to pay in a certain amount each month and switch over your direct debits.

For more information read our round-up of the best bank account switching deals here.

Maximum saving: 200 a year

11am Having a break? Could you cut your TV, broadband and phone bills?

When was the last time you switch TV, broadband or phone provider? You could save a bundle (ahem).
Its definitely worth haggling with your mobile phone provider and broadband, particularly when you get near to the end of your contract.

Jasmine Birtles from said: Take a look first at whats on offer elsewhere maybe try or and tell your current provider that you will move unless they offer you a better deal.

With broadband you could save yourself 20 a month by switching and the same for mobile phone tariffs.

Do you really need a TV subscription? With Netflix, Amazon and the free catch-up services at BBC, ITV, and the other channels, is it really worth it?

Cutting out a TV bundle and just going for, say, a broadband-only deal with Relish, you could save yourself up to 40 a month.

Maximum saving: Up to 720 a year

1pm Lunchtime saving Could you slash your mortgage by thousands?

Its certainly possible to save money by remortgaging you could save thousands over the mortgage term but its best to get advice from a mortgage broker first so that they can do the sums and work out if it would be worth it, Jasminesaid.

Take time to work out your bills and see if you could cut costs

Remember youll get charged an exit fee by your current provider and these can be pricey. Jasmine adds: So even if you find a really low mortgage rate (and there are some amazingly good deals around at the moment) the charges might eat into the savings you would make, particularly if youre not yet out of your fixed rate period.

Maximum saving: Thousandsevery year, potentially

4pm Its starting to get chilly

As the sun goes down and the temperature drops, you start to feel a chill. How much do you pay in energy bills each year?

Households could save around 305 a year, according to, by searching for the best deal. Its especially important when your fixed deal comes to an end as youll usually be rolled onto a more expensive standard tariff.

Maximum saving: 305 a year

6pm Drive down your car insurance costs on your journey home

Its time to drive home from work. When is your car insurance up for renewal? Heres your reminder to compare policies.

Matt Oliver, from, said: Allowing your provider to auto-renew your policy is a great way to pay over the odds on your car insurance and should be avoided at all costs.

Switching energy firms could save you over 300 a year especially if youve rolled off a fixed rate deal

Every time you auto-renew a policy the likelihood is that youre getting a bad deal.

Your renewal letter shouldnt be the price of your insurance for the next year, instead it should be a challenge for you to get online and shop around for a better deal.
Data from the comparison website estimates that drivers could save an average of 286 a year by shopping around.

Maximum saving: Around 286 a year

8pm Doing a bit of online shopping? Dont forget cashback!

Websites like Quidco and TopCashback pay you to shop. All you have to do is click on the link through their websites before you pay and it will automatically add the cash to your account.

You can usually withdraw the money via bank transfer or Paypal. The rate of cashback will vary but the websites say that their best users save over 1,000 a year.

Emma Mumford, from the blog Extreme Couponing and Deals UK, said: Cashback websites are a great way to make extra savings. I have linked up my debit card so that when I make in-store purchases I can get cashback too. I get around 30 each month and it goes straight into my holiday fund.

Maximum saving: Over a 1,000 a year

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