Spend less get richer: the simple trick to better budgeting

Oct 25, 2018

There’s no magic to making yourself better off. Just spend less than you earn. But it can be easier said than done. Learn about painless budgeting in under two minutes – from the experts at Loqbox.

Think of your spending in two categories. ‘Regular’ costs that tend to come out of your account as Direct Debits, like energy bills, rent or a mortgage. And ‘Daily’ costs that you probably pay with cash or card, like groceries, travel and eating out.

Pick one thing from each of these two categories and try to reduce it today.

Here are two top tips to get going:

1. The easiest regular cost to reduce is your energy bill.’s free energy comparison service takes about 5 minutes and saved me £180 a year. (There are similar comparison services for insurance too. Just be aware of any switching costs and make sure you still have the right cover.) Visit u-switch.

2. Use a money management app to see your weekly or monthly spending

Is there something you could easily live without or pay less for? Try to save a small amount each day, using the app to keep track of your progress. Just cutting out my morning coffee saved me £1,000 a year.

This post was written and compiled by the credit experts behind Loqbox – a completely free way to build your credit history by saving a little each month. To sign up or read more about the clever way Loqbox works, head to

This is part of our Two-minute Money blog series – unlocking the secrets of the financial system, two minutes at a time.

Build your credit score

by saving as little as £20 per month.

Sign up