Login Menu

‘Saving more’ tops New Year’s resolutions for 2023 as cost-of-living worsens

11/01/2023

32% of Brits aspire to save more this year

In need of inspiration for a resolution that you can actually achieve? As the UK shakes off its New Year’s hangover, as well as weeks of overindulging and over-spending in the run up to Christmas, Quotezone.co.uk ask consumers what their resolutions are for 2023.

Given the ongoing cost-of-living crisis, it’s unsurprising that the chart topper of New Year’s resolutions in 2023 is to ‘save money.’ 32% of Brits rated this as the number one resolution for the New Year and overall, it was the most popular response out of the consumer survey compiled by Quotezone.co.uk in December 2022.

Priorities for UK consumers looked a little different last year, with half of those surveyed wanting to do more exercise, while eating healthier – a sign of just how much the economic crisis is beginning to bed in.*

However, all thoughts of nutrition aren’t completely out of mind as 21.1% of respondents still said that they were planning on ‘eating healthier’ in the New year.

Interestingly, 12.2% are keen to ‘travel more’ while only 6.2% want to ‘find a new job’ suggesting that the ‘great resignation’ of 2022 is finally beginning to stabilise.

Research from Quotezone.co.uk, personal finance comparison experts, reveals 5 top tips that could help ensure you’re not just sticking to your New Year’s Resolution to save more, but you’re smashing that target as well. 

  • Don’t let your annual direct debits auto-renew: if there are subscriptions or memberships that you’re not using or you could realistically live without, now is the time to cancel them.
  • Skip the sales, but shop around: Forget being lured into the January sales this year and instead shop around for the best suppliers for household bills, including gas, electricity, phone, and internet. Some providers have been known to automatically upgrade you to a more expensive tariff as soon as your contract expires.
  • Reduce your energy bill: there has never been a better January to get ahead of sky-high energy costs with smart meters, draft excluders, and energy efficient lighting. Even small changes like adding timers to lights, can reduce the use of non-renewable resources and keep energy bills low. 
  • Reward yourself: If you do decide to eat out, make the most of January deals at restaurants which can offer up to 50% off the bill from Monday to Wednesday at the beginning of the year. Quotezone.co.uk‘s rewards platform  offers customers cash back and discounts on a whole range of big brand and high street items including help towards household bills.  
  • Insurance renewal hack: comparing options and prices around three weeks before your insurance is actually due for renewal will ensure you get the best deals available and you’re not making a panic buy.

Quotezone.co.uk’s Founder, Greg Wilson, comments: “2023 is here and it’s time to set some New Year’s resolutions for a better year ahead. For those looking to set clear goals that actually stick this year, hunting for ways to save and shave spending is the way forward.

“Few people will disagree that the last few years have been tough, but unfortunately, we aren’t entirely out of the woods yet. With concerns about the cost-of-living likely to continue into the new year, and the knock-on effect that could have on both personal finances and the wider economy, this could be a good opportunity for people to make a resolution that could help get finances into better shape.”

Quotezone.co.uk is one of the UK’s leading financial comparison websites, helping over 3 million users find a more competitive deal on everything from car and home insurance to personal loans.

Reference:

*https://www.statista.com/chart/26578/uk-new-years-resolutions-for-2022-gcs/#:~:text=Almost%20half%20said%20they%20wanted,their%20time%20on%20social%20media

This article is intended as generic information only and is not intended to apply to anybody’s specific circumstances, demands or needs. The views expressed are not intended to provide any financial service or to give any recommendation or advice. Products and services are only mentioned for illustrative rather than promotional purposes.