As Christmas approaches, many of us are feeling the pinch, with the cost of gifts, food and festivities adding up. And that’s before you even factor in the rising cost of living, tax increases, benefit cuts, and so on.

Fortunately there are many ways to boost your income in the weeks leading up to the big day.

Whether you’re looking to save for gifts, pay off bills or simply enjoy a more relaxed holiday season, here are some ideas to help you generate extra cash.

1. Take on seasonal work

One of the most straightforward ways to earn extra money is taking on seasonal work. 

Many retailers, supermarkets and delivery services hire additional staff to cope with the Christmas rush. These roles often include flexible hours, making them suitable for those who already have a full-time job or other commitments. 

Retail work: High street shops, supermarkets, and shopping centres are always on the lookout for extra hands during the festive period. Roles might include working on the shop floor, stock replenishment or assisting with customer service.

Warehouse and delivery jobs: With the surge in online shopping, companies like Amazon, Royal Mail and other courier services ramp up their staffing. Positions in warehouses and delivery driving are in high demand and can pay well, especially if you’re willing to work unsociable hours.

Hospitality and events: Pubs, restaurants and event venues also require additional staff during the Christmas period. If you’re good with people and enjoy a lively atmosphere, these roles can be both fun and financially rewarding.

• Be aware that competition for seasonal work can be fierce, so start applying as early as possible, and ensure you have plenty of irons in the fire.

2. Sell unwanted items on eBay

Another great way to raise funds is by decluttering your home and selling unwanted items online. eBay is a popular platform and with millions of users it’s an excellent place to turn your unused belongings into cash.

Clothing and accessories: If you have clothes that you no longer wear, especially branded or designer items, these can sell well on eBay and similar sites. Take clear photos, write detailed descriptions, and be honest about the condition to attract buyers.

Electronics and gadgets: Old phones, tablets, or gaming consoles that are gathering dust could fetch a good price. Just be sure to wipe all personal data before selling. For more tips, see my recent Mouthy Money article.

Toys and games: With Christmas approaching, parents are often on the lookout for bargains. If your children have outgrown their toys or games, now is the perfect time to sell them.

Books, DVDs and collectibles: Niche items like collector’s editions or rare finds can attract considerable interest. But even commonplace products can sell well if you bundle them together.

3. Rent out a spare room or parking space

If you have a spare room in your home, consider renting it out on a short-term basis through platforms like Airbnb. With people travelling to visit family during the festive season, there’s often a high demand for accommodation. If you live in a city or near a popular attraction, this can be a particularly lucrative option.

Similarly, if you have a parking space you’re not using, you could rent it out via a website such as JustPark (as discussed in this article). This is especially profitable if you live near a city centre, train station or sports/entertainment venue where parking is limited.

4. Take online surveys and participate in market research

While not a huge money-maker, taking online surveys or participating in market research can be an easy and enjoyable way to make a bit of extra cash in the run-up to Christmas.

Sites such as Swagbucks, Prolific, and YouGov reward you for giving your opinion on various topics (as discussed in this recent article on Mouthy Money).

Some market research companies (e.g. People for Research) also look for participants for focus groups or product testing, which can pay quite well for a few hours of your time.

5. Offer freelance services

If you have skills in writing, graphic design, web development or social media management, consider offering your services on a freelance basis.

Websites such as Upwork, Fiverr, and PeoplePerHour allow you to advertise your skills and connect with potential clients. This option is flexible, allowing you to work as much or as little as you like, fitting around your schedule.

6. Do Christmas crafting and baking

If you’re crafty or enjoy baking, you could create handmade Christmas decorations, cards or baked goods to sell at local markets or online.

There’s a strong demand for unique, handmade items during the festive season. Platforms like Etsy can help you reach a wider audience.

7. Offer pet sitting or dog walking

If you’re an animal lover, pet sitting or dog walking can be a fun way to earn extra money.

Many people travel during the holiday season and need someone to look after their animals. Platforms such as Rover or Pawshake make it easy to find clients in your area.

8. Use cashback and reward apps

While it’s not exactly an extra income stream, using cashback and reward apps like TopCashback, Quidco or Shopmium can help you save money on purchases (e.g. Christmas gifts) you’re already planning to make. Some even offer bonuses for referring friends, which can be a handy extra earner. 

9. Rent out your car

If you own a car but don’t use it all the time, consider renting it to others through platforms like Turo or Getaround.

This can be a great way to earn passive income, especially if you’re not using your vehicle during the day or over the weekend.

With more people travelling for Christmas and New Year, demand for rental cars increases, making it a particularly opportune time to rent out your vehicle.

10. Become a mystery shopper

If you enjoy shopping and have a keen eye for detail, becoming a mystery shopper can be a fun and lucrative way to earn extra money. 

Mystery shoppers are hired by companies to evaluate the quality of service in their stores, restaurants or other businesses. Your task will typically involve visiting a shop and making a purchase and then providing feedback on your experience.

There are several companies that recruit mystery shoppers, e.g. Market Force and Grass Roots. Assignments vary in what they pay, depending on the complexity and time required. In some cases you aren’t paid a fee but are given a budget and are allowed to keep whatever you buy with this.

Mystery shopping allows you to combine earning extra cash with your everyday activities, making it an enjoyable and flexible way to supplement your income in the run-up to Christmas.

Closing thoughts

As you can see, boosting your income before Christmas doesn’t have to be stressful or even particularly time-consuming. By exploring the options set out above, you can find a method that suits your lifestyle and helps you to achieve your financial goals. 

Whether it’s taking a temporary job, selling unwanted items or offering a service, there are lots of ways to generate extra cash and enjoy a more financially comfortable festive season.

Here’s wishing you a very happy Christmas and a prosperous new year!

As always, if you have any comments to share about this article, please do leave them below.

Nick Daws writes for Pounds and Sense, a UK personal finance blog aimed especially (though not exclusively) at over-fifties.

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Have you ever looked in your packed fridge or pantry and discovered you can’t see how to put a sensible meal together? Or do you go shopping for certain items, only to find more of the same hiding at the back of the cupboards? If this is you, then a pantry audit is what you need.

Not only will auditing your food stores make you feel more in control, but it can also save you time, stress and money. Here’s where to begin and how a pantry audit will save you money. 

Start here

Start by clearing out your fridge; this will contain perishable items that need to be used first. Create an ‘Eat Me Now’ shelf, so that when the family start looking for snacks they can see that the yoghurts, cheese strings and half a pot of hummus need eating quickly. Make a note of other ingredients that can be incorporated into your meal plan (more on that below).

Go through everything in your freezer. Although food will last a long time frozen, it will start to deteriorate after a few months and won’t last forever. So, if you have been ignoring the reduced-price smoked haddock or the cheese left over from Christmas, now is the time to defrost and eat them!

Finally, pull out everything from the food cupboards, group similar items together and check the best before dates on dry goods like pasta and flour. Make sure they are stored sensibly in jars and containers, and not left open. 

At this point, you can start a shopping list. It may be that you have a ton of tinned tomatoes, but have run out of rice, for example.

Meal planning

Part of your pantry audit process will be to write down possible meals as they occur to you. For example, if you have curry sauce and some canned chickpeas, these could be the basis of a veggie curry. If you have loads of eggs, a frittata or quiche would be a good meal.

If you have random ingredients that have been lurking for a while and don’t know how to use them, try an internet search. For example, search for canned tuna recipes, hot dog recipes, etc.

Soup is a great way to use bendy veg, whilst fruit can be stewed and eaten on your breakfast cereal.

Set yourself a challenge to eat from the pantry as much as you can for the following few weeks. Create your meal plan, using up as many of your food stores as possible. You can then complete a minimal shopping list of just the extra items that will be required.

The benefits of a pantry audit

Needing to buy less

When you conduct a regular pantry audit, you become very aware of the things you and your family enjoy and will actually eat. The wild rice or pickled beetroot might have seemed like good purchases at the time, but if they have been lurking in your cupboard for years, you don’t need to buy them again. 

It makes financial sense to focus your resources on things that will be consumed and enjoyed. 

Reducing food waste

Food waste is a big issue, both financially and environmentally. When you know the food you have, you can plan to eat it and are less likely to need to bin it. 

Saving time

Meal planning saves a lot of time and stress. You can plan something quick and easy for busy days, or a more elaborate meal for when you have more time available. 

The days of looking into your fridge and scratching your head half an hour before dinner will be over!

Building a food store

Although I am suggesting that a regular pantry audit is a good thing, I am not saying you should leave your cupboards bare. In my view, it is a sensible idea to have good food stores for difficult periods. 

If you are sick and struggling to find the energy to cook, it will be helpful to know you have some pasta and pesto or a couple of microwave meals at the ready. When, like me, your income is variable, having a good store of food is a lifesaver for those lean months.

Certainly, having a decent store cupboard when Covid hit was very helpful and reduced the number of trips we needed to make to the supermarket!

I suggest buying one or two useful non-perishable items for your stores each time you go shopping. However, audit your pantry regularly and bring the older foods to the front of the shelf.

Setting the habit

Going forward, make a pantry audit a regular thing (I suggest at least once a month). You will soon discover that by using what you already have, planning your meals and making a shopping list, you will save money, reduce food waste and save time too.

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When you want to save money on groceries, focusing on recipes that make the most of cheap, nutritious, and filling ingredients makes a lot of sense.

It is also a good idea to keep a decent stock of basics for times when you cannot get out to the shops, such as when you are ill, during bad weather or when you are super busy.

Certainly, my own well-stocked cupboards were a boon during lockdown. What you choose will depend on your family’s tastes, but these are my essentials for the frugal pantry to get you started.

These are all relatively inexpensive staples, which allow you to stock a frugal pantry without breaking the bank. It’s a good idea to pick up a couple each time you do a grocery shop.

Look out for recipe ideas that use these frugal pantry items so you can rustle up something quick and tasty when required. I have focussed on non-perishables, but it makes sense to keep a store of things like cheese, vegetables, bread, fish and meat in your freezer, too.

Non-perishable essentials for the frugal pantry

Rice

Rice can form the basis of a cheap meal, from a simple pilaff to a risotto or even a rice pudding. I like to keep different varieties, such as brown rice, arborio and risotto, as well as basic white rice.

Pasta and noodles

Pasta is one of the most versatile essentials for the frugal pantry. We love macaroni cheese or penne with tuna and black olives.

Ramen noodle soup is always a hit, too, and easy to make. 

Tinned tomatoes

These are super cheap and nutritious, adding colour, nutrients and flavour to many meals.

Vegetable oil

Keep an eye on the use-by date of any oils you keep and rotate to ensure they don’t go rancid before you use them.

Oats

Porridge is a favourite for breakfast, of course, but oats can also be used for baking cakes and cookies or to thicken savoury dishes.

Canned vegetables

My most regularly used canned vegetable after tomatoes is sweetcorn, but other veg, such as peas, mushrooms and carrots, are also worth having. Although I am not a fan of canned vegetables in their own right, they add nutrition and colour to soups and stews when you can’t get hold of fresh.

Beans and pulses

Full of fibre, nutrients and protein, beans and pulses are essential for the frugal pantry. At their most simple, you have baked beans, but you can also make curries and casseroles with pulses and add them to soups and salads.

Tinned fish

Canned fish such as tuna, sardines, salmon and mackerel can form the base of many healthy dishes, such as tuna, tomato and caper one-pot pasta dish or salmon fishcakes.

Tinned meat

Tinned meat isn’t as popular as it once was. However, we still enjoy a delicious corned beef hash, or you can use a can of stewing steak as the basis of a warming casserole.  And how about a classic Spam fritter? They must be due a comeback.

Ready-made sauces

Ready-prepared pasta sauces in a jar are handy for a quick family dinner, as are sachets of casserole mixes. Look out for them when they are on offer as they are useful essentials for the frugal pantry.

Stock cubes and seasonings

You can make the most unpromising ingredients more palatable if you keep a range of stock cubes and seasonings in the pantry.  As well as stock, I like to have onion salt, dried garlic, dried herbs, soy sauce, ketchup, mayonnaise, curry powder and gravy mix as a minimum.

Tinned fruit

Tinned fruit can be eaten as it is to help you get your five a day or made into something delicious for dessert, like pineapple upside-down cake. 

Evaporated milk

Evaporated milk is good poured over desserts, in coffee, and whisked into jelly to make a fluffy mousse. However, if you run out of milk, you can dilute it with water at a ratio of 50:50. It is perfectly good used in cooking. However, it does have a slightly caramelised flavour so you may not enjoy it in tea.

Powdered milk can also be a useful standby.

Flour and baking products

Baking products such as flour, baking powder, sugar and yeast are essentials for the frugal pantry. You can keep things interesting by making a range of cakes and cookies, savoury baked goods and bread.

However, it is really important to rotate these ingredients regularly and to store them correctly so that they don’t spoil.

Dried fruit

Dried fruits are another way to increase your vitamin and fibre intake and to add sweetness to food. Raisins, sultanas, prunes, mixed dried fruit and apricots are worth considering and can be used in various ways to make your dishes flavoursome and interesting.

Tea and coffee

They may not be essential to some people, but I live in fear of running out of tea or coffee. Tea and coffee are relatively cheap, easy to make and get many of us through our working days!

Supermarkets own brands tend to be the best value.

Breakfast cereals

Plain breakfast cereals such as cornflakes, wheat biscuits and bran flakes are cheap to buy and useful store cupboard staples. You can make them into a more interesting breakfast by adding dried fruit, or you can use them in baking.

Like flour, these have a shorter life than canned goods, so be sure to use and rotate them regularly.

Preserves and pickles

Pickled onions, jars of red cabbage or sauerkraut, olives and cornichons are great to add to salads and savoury dishes or even as a side to your main course when you can’t get hold of fresh produce.

Sweet preserves such as jams and marmalades are also a cheap addition to your store cupboard.

Peanut butter

Peanut butter is incredibly versatile. It is delicious on toast, certainly, but you can add it to your baking too. Peanut butter sauce is fabulous with noodles and stir-fried dishes.

What are your essentials for the frugal pantry?

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Filling up the freezer with food can be very costly, especially if you have kids who like their chicken dippers.

But sometimes deals like this come up, that would make everyone want to stuff their freezer full of cheap food.

Here’s how to get eight different items of food for just a tenner:

How to get it

Frozen supermarket Iceland has launched a deal called ‘Easy Teas’, where customers can pick up eight different frozen food items for £10.

That works out at £1.25 for each item you pick up – which makes most of them better than half price.

There are 14 different options for you to choose from, that you can either choose a selection of, or get eight of the same if you’re fussy.

You can choose between Goodfella’s pizza, Birds Eye Alphabites, Birds Eye fish fingers, Birds Eye potato waffles, Birds Eye chicken, Birds Eye fish fillets, Birds Eye veggie fingers or Aunt Bessie’s Yorkshire Puddings.

When buying, make sure you’ve got at least eight of the items, as anything under or over will mean you pay full price.

You can buy these items in store, or do it as part of an online shop.

Some of the items including Goodfella’s frozen pizzas usually cost £3 to buy, so getting it for the equivalent of £1.25 is a great deal!

For full information, to see what’s included, and place an order, head to the Iceland website.

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It’s the most important meal of the day, and I absolutely love it. Nothing can beat a slap up full English breakfast with everything included.

And what would make it better, is if you didn’t have to cook it, and it’s dirt cheap. That’s what this deal is all about!

Here’s how you can chomp down on a super cheap breakfast from a national pub chain:

How to get it

For the whole month of November, you can get two Full English breakfasts for the price of one at Hungry Horse pubs.

Usually, their breakfasts cost £4.79 each (so for two of you eating, it’ll cost £9.58). But with the deal getting two for one, you pay £4.79 (which works out at £2.40 each!)

You can choose between standard, vegetarian or vegan breakfasts, which include bacon, sausage, beans, hash browns, mushrooms and eggs.

The deal is valid for the whole of November, every day of the week. Just head down to your nearest Hungry Horse restaurant and sit down for breakfast before 12pm each day. Unfortunately you can’t get to deal for lunch or dinner – only at breakfast time.

There are no vouchers or coupons required to get this, and servers will know about the offer, and take it off your bill.

If you have a larger table of four or six, you can still get the deal, and get half of your meals at the table for free.

For full information, and to find your nearest Hungry Horse pub, head over to the website.

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Many of us are still feeling the pinch. The cost of living crisis hasn’t gone away!

It’s easy to feel deprived when you need to cut back, but I have found that some frugal swaps can allow you to retain a good lifestyle and you will barely notice the difference. 

Here are some ideas for frugal swaps to save you money without feeling disadvantaged.

Swap disposables for reusables

Although these might cost a little more to begin with, buying reusable items wherever you can will save money and are more eco-friendly. 

Such frugal swaps might include:

• Cotton wool pads for washable bamboo alternatives
• Reusable razor (you will still need to replace the blades, but if you rinse and dry the razor between uses they will last longer)
• Beeswax wraps instead of cling film – they last for years
• Sanitary products like cloth pads or a Mooncup
• Washable nappies instead of disposables

Swap laundry products for an Ecoegg

On a similar theme, investing in a reusable laundry egg, such as an Ecoegg, can save a lot on your usual laundry liquid or powder detergent. 

The plastic eggs are filled with pellets that help lift the dirt from your laundry without using chemicals. They need to be refilled every two months or so and, in my experience, work pretty well.

I have found that very dirty or stained clothing may need to be pre-treated with a stain remover before washing, but I think that’s the case with many detergents, too.

To give you an idea of the potential savings, you can purchase an Ecoegg starter kit with enough pellets for 50 washes for just under £8 on Amazon. After that, you can buy refill pellets for around a fiver each time you need to.

A 1.4 litre bottle of Persil laundry liquid will set you back £9 in Sainsbury’s currently, which will give you 52 washes. 100 washes with the Ecoegg costs approximately £13, as opposed to £18 if you buy the branded liquid.

Swap your dryer for the washing line

Even though our energy bills are dropping a little, it still pays to swap using your dryer for line drying wherever possible. 

Invest in an airer to help dry your laundry indoors. A heated airer will speed things up whilst still using considerably less energy than a tumble dryer.

Clothing lasts longer when it isn’t machine-dried. Where do you think all the lint comes from?

Swap frequent shopping trips 

If you are anything like me, if you go into a grocery store, you are likely to come out with more than the one item you popped in for! 

Lots of small shopping trips, especially if you use convenience stores, can drain your wallet. Instead, try a more organised approach. Plan your meals and write a shopping list so you can buy everything you need weekly or fortnightly with as few mini trips to top up as possible.

Swap going out for staying in

We all like to get out and socialise once in a while, but if you usually make many trips to restaurants, pubs, cinemas, etc., think about some cheaper options.

Could you invite friends over for drinks and snacks, have a games night, or host a potluck supper (i.e., everybody brings a dish or two to share)? 

If you have children, this frugal swap has the added advantage that you won’t need to pay a babysitter!

Swap branded medications for generic ones

I am often amazed at the price difference between branded products and generic items when it comes to things like paracetamol, ibuprofen and cough and cold medications.

Often, when you study the ingredients, they are identical. Rather than pay for the marketing, buy the retailer’s own version.

Swap out dry-clean-only clothing

Search out washable clothing wherever possible. Dry cleaning is expensive!

Having said that, I have frequently found that some garments marked as dry-clean-only are fine when hand-washed. You can also purchase dry cleaning kits to use in your dryer, which are much less expensive.

Swap to free books and audiobooks

Take advantage of the books and media available for loan at your library. In addition, get the Borrowbox app, which allows you to listen to audiobooks for free, as well as read e-books when you can’t get to the library.

I am addicted to Borrowbox and have an audiobook on the go constantly.

Swap to cash

If you are an impulse spender, take out a budgeted amount of cash each week for general spending. Once it has gone, that’s it!

I always think that cash is harder to spend psychologically. You really feel it when you physically hand over notes and coins. Having said that, it is actually becoming harder to spend as some retailers now refuse to take cash, so bear that in mind, too.

Grocery swaps

You can save money on food by swapping to supermarket own labels, rather than branded items. However, there are other swaps you can make, too. For example:

• Replace chicken breasts with cheaper thighs
• Swap fresh vegetables, fruit, fish and meat for frozen versions
• Replace some meat dishes with egg recipes, such as omelettes and frittata
• Swap jars of pasta sauce for homemade, using tinned tomatoes, onions, garlic and herbs. If you make several batches at once and freeze some, you will save time too
• Swap fresh fish for tinned fish like tuna, sardines and mackerel

What frugal swaps have you made to help save money?

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It’s the October half term, which can be very costly for families trying to feed and entertain your kids.

At these times however, you’ll often see offers for kids eating free (or for £1) when you buy an adult meal.

But this offer is a great deal for your whole family – and it always tastes so much better when it’s free too!

Here’s everything you need to know:

How To Get It

Until Sunday 5th November, you can head to a Morrisons Café any day of the week and pick up 2 free crumpets with butter and jam.

This deal is available for your whole family, and you need to mention a specific phrase to the cashier to get it.

When you head into the restaurant, if you ask for ‘Ellen’, you’ll get your free crumpets.

Usually the crumpets at a Morrions Café costs 99p, so while it’s not a huge freebie, it’s a nice one to know about.

If you’re heading out shopping to Morrisons, or you’re passing one and want a quick snack, it won’t cost you anything.

It’s a promotion in collaboration with Warburton’s, to make sure that nobody goes hungry over the half term.

But it’s not just kids that can get it, anyone can! Just as long as you ask for Ellen.

For full details, head over to the Warburton’s website.

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It used to be so easy for us money savers.

If we needed to shave some pennies and pounds from our grocery budgets, we headed straight for the bottom shelves in the supermarkets, where the cheapest baked beans, spaghetti hoops and pasta were to be found with easily identifiable budget branding.

But what has happened to supermarket value brands, most of which seem to have disappeared? The picture seems somewhat unclear at a time when many families are struggling the most.

First, we had the distinctive blue and white stripes of Tesco’s Value range, the orange Sainsbury’s Basics brand and Asda’s plain Smart Price offerings.

The supermarket price wars being waged when these were introduced in the 1990s meant that you could at one time pick up a can of beans for 3p and a loaf of bread for just 7p.

These brands may have been no frills, but they were excellent value for money. Although occasionally renamed and redesigned over the years, the ranges were still recognisably the best value. However, the picture is not so simple for the bargain hunters amongst us now.

Brand snobbery

Back in 2012 that Tesco revamped its Value range to spare the embarrassment of its customers. Renamed Everyday Value, the updated range boasted of being better quality and having fewer additives, as well as looking less obviously the cheapest of products on offer. However, it was still easily recognisable as a budget brand.

There was always a certain amount of shame among less well-off shoppers about resorting to the budget ranges. Lower prices tend to be associated with poorer quality, even when it isn’t necessarily true.

Personally, I had a family to feed on a limited budget, so had no compunction about buying such products. I would try them once, and if I didn’t like them move up to the next level own brands.

However, as Aldi and Lidl arrived and began to offer real competition to the larger supermarkets, the no-frills ranges became less popular. Customers could purchase items just as cheaply but with none of the stigma that might have come with buying a Value, Basics or Smart Price offering.

The budget brands weren’t offering the solution the big three supermarkets had hoped for in their battle against newcomers Aldi and Lidl, and they began to change their approach.

The arrival of phantom brands

So-called ‘phantom brands’ have now started to take the place of the original value ranges. These are own brands (also known as private labels) in a different format.

They have no reference to the supermarket and don’t carry their logos, so it isn’t obvious that they are private labels. They are given wholesome names such as Mary’s Dairy and Willow Farms and have eschewed the stark and basic packaging of the value brands for a softer, more general look.

As a result, customers perceive them as superior to the very basic ranges, although still very good value. 

In this respect, the big supermarket chains are simply playing catchup with Aldi and Lidl, who have carried dupes of everything from cornflakes to candles since their arrival.

Aldi’s popular private labels include Choceur, Cucina, Specially Selected and Bramwells, whilst at Lidl you can find Batts, Gellatelli and Deluxe.

How to identify the budget labels

So, how to identify the private labels? Phantom brands seem to muddy the water somewhat for the frugal shopper, although a simple price comparison will quickly identify the best-value products. 

At Tesco’s, private labels include Creamfields, Butcher’s Choice, Rosedene Farms and Eastman’s.

In Sainsbury’s you will find Hubbard’s Food Store, The Greengrocer and Stamford Street Food Company.

Asda’s approach

Asda has taken a different route from the other supermarkets, retaining an easily identifiable no-frills private label in the form of its Just Essentials range, launched in Just Essentials has been a big success for Asda: 

“Excluding fuel, like-for-like sales jumped 9.6% in the three months ended June 30, while revenue reached £5.4 billion (€6.2 billion).”

With the cost-of-living crisis ongoing and many families struggling, choosing budget private label ranges over their much more expensive branded rivals is a no-brainer.

Although it is more confusing, once you become aware of their existence, the cheaper brands will jump out at you, and you will know what to look for.

Do you regret the passing of many of the no-frills budget grocery brands, or have you embraced the new private labels? If you find it confusing, let me know in the comments below!

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From the great gender pension chasm to shifting food shopping habits and women afraid of investments – here are our favourite must know money stories this week to help you get your head around your personal finances. 

Women miss out in “great gender pension chasm” 

Women’s private pension pots in the UK are worth 35% less than those of their male colleagues by age 55, according to a major government study. 

The data shows that, on average, for every for every £100 accumulated in men’s private pensions, women have just £65, leading to the possible loss of thousands of pounds of retirement income. 

Lower overall earnings, time off for childcare and other caring duties, along with the greater numbers of women in the part-time workforce, are all thought to be factors of the imbalance. 

While previous studies have revealed a gender pension gap, this is the first time the Government has revealed the true scale of the problem, reports Miles Brignall for The Guardian. 

The pensions minister, Laura Trott, said: “The success of automatic enrolment has transformed the UK pensions landscape and brought millions of women into pension saving for the very first time. However, while the participation gap has closed, the wealth gap persists. 

“The publication of an official annual measure will help us track the collective efforts of government, industry and employers to close the gender pensions gap.” 

Massive shift in food shopping habits 

There has been a significant shift in our food shopping habits since the pandemic, based on data compiled by analyst firm Kantar, reports Daniel Thomas for BBC News. 

Based on Kantar’s findings, the BBC identified five ways shopping habits changed due to soaring food prices and the cost-of-living crisis.  

• Shoppers now have less frequent supermarket visits, but data shows higher volume of sales – indicating higher spending overall.  
• The shift to online has slowed with only 11.7% of UK grocery spending online, down from 15.4% in February 2021. While many older people gave up shopping online after the lockdowns, people also enjoy taking a trip out to shops and seeing other people now. 

• Shoppers are swapping established brands for cheaper supermarket own-label products to combat food prices and their fastest rate rises in 45 years. 
• Sales at discounters such as Aldi and Lidl have soared, as customers look to save. 
• Shoppers are increasingly turning to loyalty schemes for discounts, as supermarkets revamp their loyalty cards to offer in-store or personalised deals. 

Three in four women too nervous to invest 

74% women do not invest and are therefore missing out on building wealth and long-term financial security, according to investment firm Wealthify. 

By comparison, 58% of men said they are not investors, suggesting men are less nervous about dabbling in the stock market, writes Ruth Emery for MoneyWeek.  

However, Wealthify data shows 61% of women have definite future savings goals, compared to only 49% of men.  

The research found that women did not invest because they were too nervous, lacked confidence and did not know where to start, ultimately preferring to leave their money in cash savings accounts instead.  

Kalpana Fitzpatrick, digital editor of MoneyWeek says: “But with interest rates on these accounts lagging behind inflation, it means they are not only losing out on the power of compounding, but they are also missing out on potentially hundreds of pounds in returns over the long-term.” 

Findings from another survey by Boring Money reveals a £599bn gap between men and women’s holdings in stocks and shares, ISAs, investment accounts, and private pensions. 

Photo Credits: Pexels

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Have you ever gone into a store for a specific item and come out with a basket-full?

Do you head off to the supermarket armed with your shopping list but end up impulse buying loads of stuff you hadn’t planned to purchase?

Yes, it happens to the best of us. There are a ton of marketing tricks retailers use to make you spend more money. 

Being aware of clever marketing ploys is half the battle to beating them. Knowledge is power, and understanding how retailers use psychology in their bid to get our money is the key to helping us resist and spend our hard-earned cash more mindfully.

Let’s have a look at some retail tricks and how to get wise to them.

Clever store layouts

Have you ever got lost in an Ikea store? You are lead around in a particular direction, taking you all around the shop. Even if you are initially heading for a certain product you can’t help but see as many other products as possible on your journey.

Your senses are overloaded by beautiful room layouts so you can imagine the furniture and furnishings in your own home, as well as bargain bins full of low-priced items and piles of tempting products you suddenly feel you need. It is hard to resist! 

Ikea, like other retailers, has fully embraced a marketing concept known as the Gruen Transfer. Stores are laid out to take you in a particular direction, keep you there as long as possible and, therefore, encourage you to spend more.

Another trick retailers use is to change their layout to expose customers to different items on their journey to locate the toilet paper and toothpaste that they actually need. I find this really irritating when I just want to whizz around and do the weekly shop.

Sensory enticements are also part of the in-store experience designed to make you spend. Pleasant smells of food cooking, items to taste, perfumes and cosmetics to test can all entice you to splash the cash.

Premium products at eye level

Premium products are generally placed at eye level on the shelves in supermarkets. Own and value brands are usually on the bottom shelves, or high up. Savvy shoppers will make the effort to find them, though!

BOGOFs, special offers and bundle deals

BOGOFs or BTGOF (buy one get one free or buy two get one free) deals are placed so you can’t miss them. They generally consist of higher-priced branded products.

Before you give into temptation, ask yourself if you really need two or three of the same product. And does it work out cheaper than buying the same quantity of the retailer’s own brand?

I tend to be sceptical about any type of special offer; they are almost always pushing more expensive premium brands that don’t necessarily offer the best value. 

Watch out for the end-of-aisle deals too; they are full of perfect impulse purchases. Not to mention the treats by the tills to tempt you as you queue.

Bundle deals are another trick retailers use to get us to buy more. You go to buy a phone and it is offered as a bundle with earbuds, for example, so you end up spending more than you intended.

RRP scams

RRP – Recommended Retail Price – is pretty meaningless when you think about it. The manufacturer is not likely to recommend a price to best suit the consumer, after all. 

I am convinced these are artificially inflated in some cases so that retailers can offer the item much cheaper, making you think you have a huge bargain. You might, for example, see a shelf price of 50% less than the RRP, which looks like a great buy, but it’s always best to shop around and do some research before rushing to purchase.

Price matching

Since the advent of discount supermarkets like Aldi and Lidl, the bigger supermarkets have started to price match the low prices offered by their cheaper rivals.

However, although they may offer price matching on a small selection, don’t forget that most of their prices will still be higher, so you are likely to pay more for a family shop. 

For example, Sainsbury’s is currently boasting that they have 150 products matched to Aldi prices. However, this only applies in larger stores and 150 is a very small percentage of products when you consider the thousands of items they stock.

Simple pricing 

Sofa manufacturers are masters of the simple pricing strategy, paring down a large figure so that it sounds small. For example, they will advertise a product at 559, rather than £559.00, as it sounds cheaper. It’s still almost 600 big ones, folks!

Adding a sense of urgency

Another marketing trick that retailers use is to create the illusion of scarcity. An online listing may tell you that there is only one item left to make you rush to buy it. 

Limited edition runs also create a sense of urgency. If you don’t buy it now, you might miss out, and we all suffer from FOMO from time to time.

Reductions for a limited time can lead to impulse purchases too and aren’t necessarily good value. This is especially true of Black Friday sales. The consumer organisation Which? found that in 2022 98% of so-called deals were the same price or cheaper at other times of the year.

Celebrity and ‘expert’ endorsements

It’s easy to be swayed into a purchase by a celebrity endorsement. Remember, that celebrities are being paid to advertise products and may never even use them. 

Do we know for sure that Johnny Depp looks moodily into his mirror each morning as he applies his Sauvage aftershave or that Claudia Winkleman keeps her dandruff at bay with Head & Shoulders?

Recommendations by professionals such as dentists, doctors or vets can also be taken with a pinch of salt. 

Introductory offers

Store assistants will often try to encourage you to sign up to store cards with an introductory offer or money off. It may be tempting to save 10 or 20% on your purchase, but be aware that interest rates on store cards are usually around 25-30%. The product will actually cost you more if you don’t pay the balance quickly. 

You are also usually offered a discount when you sign up for online newsletters. If you take advantage, make sure you unsubscribe immediately. Otherwise, you are likely to be deluged with offers, and do you really need that temptation in your inbox? 

Conclusion

These are just some of the marketing tricks retailers use to make you spend more. They have many others! Once you begin to get wise to them, you will begin to discover what really constitutes a bargain and what is just hype. 

Photo Credits: Pexels

The post Marketing tricks retailers use to make you spend more – and how to get wise to them appeared first on Mouthy Money.