Finance guru says cutting ‘sneaky spends’ could save you hundreds of pounds

Clarence So has explained five simple steps to ‘spring clean’ your finances

A finance guru says simple measure like using cashback apps for your weekly shop, utilising the 50/30/20 income split and sticking to a budget can ‘spring clean’ your finances. Clarence So, from consumer payments platform Zilch, says by making some simple tweaks it can help improve people’s finances without a complete lifestyle change.To help those looking for practical ways to achieve their goals, Clarence has shared five simple ways consumers can improve their finances.1. Track what you spendClarence said: “It’s important to understand your income and outgoings. List where your money comes in from each month, even if this is just your base income and then work out your fixed bills, such as rent, travel and food shopping.“Track your spending in a way that works for you. This could be as simple as a colour-coded excel sheet or budgeting apps like Emma or YNAB (You Need a Budget). You don’t need to account for every single pound, but regularly reviewing your finances can help you spot where you can make small changes.“Once you have these numbers worked out you can understand the amount that can be saved and what is available for day-to-day spending.”2. Pay for your weekly shop with cashback appsClarence said: “When spending on regular expenses like your weekly food shop, using a cashback app can be a great way to receive a percentage of your money back.“While not a huge amount per shop, it does add up over time and encourages more mindful spending. Usually focused on selected products, these apps can help you plan meals, reducing impulse buys and making weekly shops feel more considered.“Card-linked cashback apps mean you don’t need to activate offers every time. Instead, you can shop as normal, and the cashback builds in the back.”3. Spot the sneaky spend areasClarence said: “One of the biggest reasons people struggle to stick to a budget is because of smaller purchases that, at the time, don’t seem like they’ll amount to much.“These purchases could be coffees on your way to work, Ubers to and from social events or subscriptions.“Cutting down on just a few of these can stretch your money further each month. For example, reducing how often you buy takeaway could save you more than £400 a year while cancelling a single streaming subscription could save more than £150 annually.“Make your morning coffee at home, use public transport and cancel subscriptions that you no longer use on a day-to-day basis to make a noticeable difference over time.”4. Shop smarter – cashback, rewards, discountsClarence said: “Often it’s easier to stick to the shops you know, however this could mean you’re missing out on huge savings that other retailers have to offer. Shop around online for better deals, especially big purchases, and utilise loyalty cards, reward programs and cashback offers.“These methods take very little effort and often bring in smaller rewards, however these savings all add up over time.“Where possible, choose payment options that either reward you for paying upfront or allow you to spread the cost at no extra charge, so you stay in control of your budget without taking on unnecessary fees. Having full visibility of what you’ll pay from the start can make everyday spending feel lighter and help your money go further.”5. Set automatic savingsClarence said: “If you’re struggling to save, the easiest way you can go about this is by setting automatic payments at the start of each month into your savings account. Plan carefully what you are actually able to save as you don’t want to be dipping into this account at the end of every month when your budget has run out.“The 50/30/20 rule is a good method to follow, splitting your income into needs (50%), wants (30%) and savings (20%). Having a savings account set up also allows a buffer if you do face any unexpected bills or costs that, without savings, could mean your budget plan falls apart.”“Making your money go further is often easier than you would expect, it just takes some planning.“By following these steps people can cut down on excess spending, feel more in control of their finances and start spending more responsibly.”