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Daily Mirror
Daily Mirror
Business
James Andrews

Six simple switches that can save you £1,418 in less than 60 minutes

You can save yourself almost £1,500 in less time than it takes to watch an episode of Bake Off.

That's according to online bank thinkmoney, which worked out it takes just 53 minutes, 22 seconds to complete six money-saving swaps saving a total of £1,418.

And that's money that could be used for a lot more than just a holiday, too.

Jonny Sabinsky, head of communications at thinkmoney, said: “The last six months or so came completely out of the blue, and have been extremely tough for the majority of people from a financial perspective.

"It’s sad to see how many people have been forced to dip into their hard-earned savings.

"Hopefully, our money saving tips can help those affected save a little extra by changing a few small things.”

Six switches to save you £1,418 in under an hour

(PA)

  1. Switch to a cheaper mobile phone contract - 06:01mins - £100

  2. Switch to a more cost-effective energy supplier - 06:52mins - £310

  3. Apply and accept a cheaper car insurance quote - 07:20mins - £507

  4. Sign up for supermarket loyalty cards (eg Tesco, Morrison’s, Sainsburys, M&S) - 10:21mins - £400

  5. Open a new bank account - 10mins - £32

  6. Switch to a more budget-friendly broadband provider - 12:48mins - £69

Total - 53:22minutes - £1,418

In fact, you could save a fair bit more than that too.

That's because those are just the average savings people make, with customers on particularly expensive or out of date energy, broadband or insurance deals potentially saving far more.

For example, HSBC is currently offering people £125 up front to switch to its Advance accounts, while uSwitch.com calculates toy can save £159.42 by switching broadband.

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