Money saving tips: Save more than £1,000 a year with major cost-cutting tip

have increased by 54 percent since April, with many families forced to dip into their savings to make ends meet. Insurance provider SO-SURE has put together six tips to help people reduce their spending, including one tip which alone could save people more than £1,000 a year.

Get huge savings on supermarket shops with downshifting

This simple tip could provide major savings and reduce a grocery bill by hundreds or even by £1,000 a year or more.

Many people have their favourite brands when it comes to staple foods such as teabags, cereals and sauces.

By ‘downshifting’ to cheaper options a family can save 30 percent on grocery bills, according to Martin Lewis, the founder of MoneySavingExpert.com.

Consumers may be surprised that a supermarket brand tastes very similar to their preferred premium brand.

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Be careful with bargains

Tempting deals may not actually save you money, such as Buy One Get One Free offers at supermarkets.

These may seem to offer good discounts but a consumer may end up overspending and buying products they don’t need.

Shoppers looking for a bargain will have more reliable savings by using vouchers and checking the reduced section.

Most supermarkets have loyalty schemes that reward regular customers with coupons or vouchers.

Shop online in private

Using the incognito mode when shopping online can help save money, as this stops the device from storing the browsing history and cookies and site data.

Industries such as travel companies use cookie and tracking data to find out which websites a person has visited.

They then use this data to increase their prices for flights and other products, as they know the user is interested in them.

Shopping using private browsers or incognito mode means a person has no online history and so they appear as a new visitor and should get lower prices.

Set up auto switching

Auto-switching is an easy way to keep costs low when managing household bills, from gas to insurance.

Energy costs may be hitting record levels but auto-switching can help consumers make sure they are on the lowest rate.