Top tips as families hunt for January savings

For homes right across the UK, January has never felt so tight. The ever-rising cost of living, coupled with higher energy and food costs, means consumers are struggling to stay out of debt, in what is often considered one of the toughest months of the year.*

Tiger.co.uk research shows 43% of Brits believe January to be the most stressful month of the year financially, with 50% hunting for ways to cut costs and 17% unable to stay out of debt.

Savings experts at Tiger.co.uk researched three key ways to help trim down costs in the new year, to try and relieve the aftermath of the festive season.

Tiger.co.uk’s three R’s to help people cut costs and survive January:

Reduce:

• Try to use the immersion heater less often, electricity is usually more expensive than gas (typically three times the price) so it’s usually cheaper to use gas or oil to heat your water.
• Make sure to turn appliances off at the wall when not in use, energy-hungry devices on standby could be costing the average household up to £630 a year.**
• Review all direct debits and cancel any non-essentials you can live without this month, perhaps some festive TV subscriptions that are no longer needed.

Reuse:

• Reuse clothes as much as possible to try and cut down the volume of washing and the use of the tumble dryer – switching to a 30 degree wash could save 40%.
• Check online voucher discount sites to see if any extra discounts are applicable.
• Look to make extra cash by selling any unused items and clothes online, there are lots of handy apps that help you repurpose items easily.

Rethink:

• Microwaves or air fryers actually cost less to run than a standard oven, so if yours is gathering dust, try to make these energy efficient appliances front and centre for cooking.
• Swap your standard lights for LEDs to save around £13 a year per bulb on energy costs.*** 
• Check how competitive your suppliers are – across gas, electricity, phone and internet and see if there are savings to be had from switching or renegotiating.

Savings expert and Managing Director at Tiger.co.uk, Ian Wilson, said: “January can be a stressful month for most families, finances are often tighter than ever after the festive spending and the cold temperatures usually mean it’s a big month for heat and energy usage.

“However, the start of the new year can also be a good opportunity to review budgets and plan out how we’re doing to cut waste and find savings for the year ahead. 

“That’s why our team of savings experts have done some additional research to try and find ways households can reduce, reuse and rethink how to put more money back in pockets.

“From making frugal decisions with energy, to cancelling unnecessary direct debits plus adopting some of our simple tips, it could make these money saving measures second nature and even help towards creating long-term savings.

“One of the best ways to save is to never auto-renew insurance policies – use price comparison websites to shop around for competitive prices and make sure you’re not over or under insured by checking the policy details are actually what you need.”

Tiger.co.uk empowers customers to take control of their finances and find real savings.

References:

*https://www.nationwide.co.uk/media/news/january-2024-toughest-yet-with-next-week-set-to-be-the-stiffest-test-for-cash-strapped-brits 

**https://www.quotezone.co.uk/presszone/households-could-be-missing-600-worth-of-energy-savings

 ***https://www.sust-it.net/lighting-energy-calculator.php?srsltid=AfmBOooQXRtqDke_HomMReehGBfg1wFs0MShmxtLJ8-fd7_JF4nlqD78

Survey – Tiger.co.uk’s findings are based on a randomised survey of 1,000 respondents across the UK during December 2025, which represents a margin of error of approximately 5% at a 95% confidence level.

This article is intended as generic information only and is not intended to apply to anybody’s specific circumstances, demands or needs. The views expressed are not intended to provide any financial service or to give any recommendation or advice. Products and services are only mentioned for illustrative rather than promotional purposes.