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This article is for general guidance only and is not financial or professional advice. Any links are for your own information, and do not constitute any form of recommendation by Saga. You should not solely rely on this information to make any decisions, and consider seeking independent professional advice. All figures and information in this article are correct at the time of publishing, but laws, entitlements, tax treatments and allowances may change in the future.
From giving your savings a once-over, to unlocking valuable benefits or evening nabbing a travel bargain, there are plenty of ways to ease the stress on your finances this summer.
Our team of financial experts have put together 30 suggestions on how to save money and boost your finances as the peak holiday season begins.
“Now is the perfect time to find a savings account that truly fits your needs. For those looking to support long-term goals like retirement or future property plans, locking funds into fixed rate accounts can be a smart move. On the other hand, if you prefer to keep savings accessible for shorter-term needs – such as holidays or emergencies – an easy access account offers flexibility, allowing you to withdraw funds when needed without early withdrawal penalties.” Sally Conway, head of savings, Shawbrook Bank
“Get clear on what you actually want, then name the money for it. Vague goals lead to wasted spending. When you know exactly what you are working towards, like ‘two weeks in Italy with the grandkids’ or ‘working three days a week by 60’, saving stops feeling abstract. Naming the pot creates emotional attachment, which makes you far less likely to raid it for everyday spending.” Philly Ponniah, chartered wealth manager and financial coach at Philly Financial
“Pay with a credit card for anything over £100 to make sure you get your legal consumer rights – if something goes wrong the bank has to refund you.” Paul Lewis, financial expert and Saga Magazine columnist
“This involves committing to not spending any money on anything that isn’t essential for a set period of time. After this period, you can then decide to save this amount in a savings pot, use it as additional income or pay off any debts.” Liz Hunter, director at Money Expert
“Most banks offer a round-up service where every time you pay by debit card, it rounds the amount up to the nearest pound and automatically saves the difference for you. It’s amazing how quickly those pennies become pounds (or maybe I just use my debit card too much!)” Alex Edmans, product director, Saga Money
“Retailer newsletters are a very quick way to cut the price if you’re a new customer, as they are happy to trade a discount for the right to market to you for the rest of your life – or until you hit ‘unsubscribe’. To tempt you into correspondence, you could be offered anything from a meaningful percentage off your basket to free shipping. But signing up isn’t just about a one-off new customer discount, it can also unlock early access to sales and birthday offers.” Vix Leyton, consumer finance expert, Think Money
“Check your state pension forecast to see if you're missing any qualifying NI years. Many people are surprised to find gaps. If you help look after the grandchildren under 12 while a parent is working and claiming Child Benefit but doesn't need the NI credits themselves, that credit can often be passed onto you instead.” Chloe Phillips, certified financial planner and money coach at The Money Makeover
“Book in advance to get the lowest fares, or use one of the train booking apps which offer split ticketing [such as TrainPal, Split My Fare or Traintickets.com] to save even further.” Alison Ortiz, head of product, Saga Money
“If you’re aged 60 or over, a senior railcard can save you a third on ticket prices, whereas for younger people travelling with someone else, it’s worth considering a Two Together railcard. [The second person can be anyone you travel with, and it can sometimes pay for itself on just one long trip].” Sarah Coles, head of personal finance at AJ Bell
“If your train is delayed by 15 minutes or more, you can usually claim compensation through the train company’s Delay Repay scheme, and it’s far quicker than people think.
“It’s one of the few compensation processes that doesn’t make you jump through too many hoops, and it very quickly adds up. I clawed back over £700 last year simply by making a habit of claiming every time, and making these delays more costly for the rail companies is the only way they’ll ever consider meaningful improvement.” Vix Leyton
“If you travel by coach, you can get a Senior Coachcard from National Express. This costs £15 (plus £3 postage and packaging) and will save a third on all UK fares regardless of day and time. You can also get a £15 day return Tuesdays to Thursdays (excluding airports) if booked three days in advance and 15% off the ‘Fully Flexible’ fare on travel to certain large-scale events.” Helen Dewdney, consumer expert for The Complaining Cow
“Seat filling sites sell heavily discounted tickets to theatre, gigs and other events simply to get bums on seats. I paid just £15 to see Ruby Wax live in London and I saw tickets for Cirque de Soleil on New Year’s Eve on sale for just £6.50. Deals are usually for performances in the next week or two and there are loads of West End performances for under a tenner. Not everything is in London though – you can get super-cheap tickets for events all around the country.” Emma Lunn, personal finance journalist and Saga Money contributor
“Nearly a million pensioners are missing out on pension credit worth up to £10,000…. Other benefits that pension credit claimants could get are council tax reductions, cold weather payments, free NHS dental health treatment, a free TV licence (for over-75s), housing benefit support and the winter fuel payment.” Liz Hunter
“Millions of tax codes are wrong every year and it is your responsibility, not your employer’s or HMRC’s, to check it. You may be overpaying, or underpaying, something that can happen if you change jobs, earn money from more than one source, such as a part-time job or a property portfolio, or have recently retired. Checking your code could see you receive a generous rebate.” Alice Haine, personal finance analyst at Bestinvest by Evelyn Partners
“Dynamic currency conversion (DCC) is a service offered in shops, ATMs and restaurants abroad that lets you choose to pay in your home currency instead of the local one, when you pay by card. But you should always decline this conversion and opt to pay in the local currency (such as euros or dollars) instead. When you accept DCC, the exchange rate is set by the merchant or ATM provider rather than your bank or card issuer, and it usually includes a markup that makes the transaction more expensive.” Emma Lunn
“The prescription charge in England is £9.90 for under-60s (but free in Scotland, Wales and Northern Ireland). A 12-month PPC costs £114.50. If you pay for NHS prescriptions and need two prescriptions a month, it could save you £123 a year. This rises to a saving of more than £241 a year if you need three prescriptions a month.
“If you get prescriptions for HRT, you may save more with the Hormone Replacement Therapy Prescription Prepayment Certificate (HRT PPC). This costs twice the cost of two single items – so £19.80 for the year.” Rachel Wait, personal finance journalist and Saga Money contributor
“Go through your bank statements and list all the services you’ve subscribed to, from newspapers and gym memberships to paid-for apps on your phone and TV streaming services. Then cancel all those you don’t use. If you use TV streaming services, think about subscribing to one at a time, watching everything you’re interested in and then switching.” Rachel Lacey, personal finance journalist and Saga Money contributor
“You can save a surprising amount of money by choosing non-branded over-the-counter painkillers and medicines instead of well-known brands. Generic versions contain the same active ingredients, work in the same way and meet the same safety standards, but usually cost much less because you’re not paying for branding or marketing. By checking the active ingredient and strength rather than the name on the box, you can cut everyday healthcare costs without sacrificing effectiveness.” Emma Lunn
“Many police forces sell on stolen goods that they’ve seized, and you might be able to grab a bargain on bikes, watches and other items that cannot be reunited with their original owners. Some police forces do this through auction houses, while others have set up eBay shops online, such as this one from Sussex Police and this one from Leicester Police.” Rachel Wait
“The over 60s can access Odeon Silver Cinema, where standard seats are £3.50 when you book as a myODEON member online and £4.50 in-cinema. Cineworld’s offering is CineSeniors, providing a range of films on Wednesday mornings for £4.50. Both include tea, coffee and biscuits!” Helen Dewdney
“Make sure you’re claiming all the benefits you’re entitled to, whether that’s Personal Independence Payment, Employment and Support Allowance or Carer’s Allowance. These can provide a vital financial lifeline, so head to the Independent Age website to find out more or try the Turn2Us benefits calculator.” Rachel Wait
“One of the simplest things you can do to save more money is to make sure less of what you’ve already got built up goes to the taxman. You can do this by wrapping investments in an ISA where they are free from income and capital gains tax, which is extra-important now tax bands have been frozen, and the amount of dividends and capital gains you can make each year without paying tax have been dramatically scaled back.” Laith Khalaf, head of investment analysis at AJ Bell
“If you have a credit card, pay it off in full each month to avoid interest charges. If you cannot do that, then make sure you have paid off the cost of something you bought before you have to buy it again.” Paul Lewis
“You may have money lying in a savings account or pension you’ve completely forgotten about, so make 2026 the year to track these down.
“My Lost Account is a free service that brings together three tracing schemes, UK Finance, the Building Societies Association and National Savings and Investments, making it easy to hunt out accounts you didn’t remember having. You’ll need to set up a profile and fill in some personal details online to get started.
“You can also try the government’s free pension tracing service [which doesn’t actually trace your pension for you, but does have contact details for more than 200,000 pension schemes].” Rachel Wait
“With the biggest discounts typically awarded to those with loyalty cards – or shoppers that choose to online shop or smart shop in store with a scanner or their mobile phone – signing up for a loyalty scheme is a no-brainer.” Alice Haine
“You are entitled to free eye tests when you reach 60 and should get your eyes tested every two years and then every year after 70.” [Specsavers and Optical Express also offer 20% off glasses for the over-60s.] Helen Dewdney
“Create a realistic budget: This is about control, not restriction, helping you allocate funds effectively, identify areas for potential savings, and stay on track. Start by gathering all financial information – payslips, statements, bills – to understand your income and expenditure.” Craig Tebbutt, financial health expert at Equifax UK
“This is a brilliant way to enjoy luxury living in someone else’s home without the hefty bill. There are plenty of websites where you can list your property and swap it for a villa in Italy or a townhouse in Paris.” [Homelink, Homeexchange.com and People Like Us are among the options – there’s a fee to join but you can usually have a free trial first.] Karen Cunliffe, managing director at Red Star Wealth
“Not all broadband contracts are the same. Higher speeds usually mean higher prices, so it’s important to only pay for what you need. If your digital demands include activities such as streaming, online shopping, calls, emails, a standard entry-level fibre deal with download speeds of 50Mb would be more than enough.
“If you receive benefits and universal credit, it’s likely you’re eligible for a broadband social tariff. These are broadband deals at a reduced monthly cost.” Alex Tofts, broadband expert at Broadband Genie
“Are you paying fees for benefits you are not taking advantage of? You could save hundreds of pounds a year if you no longer need the account.” [Packaged bank accounts typically cost £10-20 per month. They can be good value if you’ll use all the perks, but if you’re not using them that’s money down the drain. Switch to a free account offering a cash incentive and make money instead.] Joshua Gerstler, chartered financial planner and wealth manager at The Orchard Practice
"Looking for a cheap day out? National Trust offers a senior membership rate for over-60s, as long as you’ve been a member for the last three consecutive years. To get the senior membership concession you’ll need to call 0344 800 1895. If you're over 65, you can pick up an English Heritage membershipfor £69 a year compared with the standard £82 annual fee. It's also worth looking to see if you can find a discount code online that will extend your savings further.
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