6 money saving hacks that actually drain your bank account

Metro

29-07-2025

From side hustles to saving challenges, everyone is trying to earn more money where they can.
Recent research from Chase Bank revealed that 69% of UK adults have even changed their spending habits to try and save as much as possible.
But it seems that some tried-and-tested hacks can actually drain your bank account, rather than fill it up.
Curious to find out if you're making any of these financial mistakes? Here are six money 'hacks' probably best avoided.
'Bulk buying can be a great way to save money, but only if you're smart about it,' Matthew Sheeran, money saving expert at Money Wellness, tells Metro.
'People buy 3-for-£10 meat deals or bulk fresh fruit thinking they're getting a bargain but end up throwing some away. A 5kg bag of rice might seem smart at £6, but not if it sits in the cupboard for years unused.'
Sheeran explains that big packs often look like better value, but unless you check the unit price, you might end up paying more. For example, a 4-pack of loo roll could work out at 20p a roll, while the 12-pack labelled as 'value' might actually be 25p per roll.
'Always compare cost per 100g, per item or per roll, not just the headline price,' Matthew adds.
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OK, in no way are we discouraging people from giving up their hobbies, but sewing and knitting will probably cost you more than buying your clothes from a high street store.
To unpack (or unravel), knitted sweaters on ASOS range between £20 to £40. To knit your own standard medium-sized jumper, you'd need 12 balls of wool.
Though you can get cheap balls for as little as £1.50, veteran knitters recommend higher quality wool. This is because it survives washing machines and is less likely to pull or bobble. In this instance, you're looking at around £3.50 a ball. Meaning a medium jumper would cost you £42. For a large, it's 13 balls, equating to £45.50.
My mum and grandma can attest to the cost, despite gifting my sister and I Ron Weasley-style handmade jumpers most Christmases. (Not complaining, I will never not get excited about a woolly patchwork number.)
Who isn't a sucker for discounted items at the supermarket? From cuts of meat to veg to freezeable ready meals, it can be hard to resist a 'good' deal.
If used correctly they can be a lifeline for struggling households. In fact, consumer watchdog Which? recently revealed that approximately 40% of British households buy yellow sticker items to save on groceries as the cost of living continues to rise. However, there are times when money can be wasted.
Firstly, cheap prices (especially typically high-priced foods like steak) are harder to avoid. This means you're more likely to pick up items you didn't enter the supermarket for, therefore accidentally going over budget.
Secondly, purchasing lots of discounted food (mainly fresh veg) means you either have to eat it all over the next night or two, or it goes off in the back of the fridge. People who have already caved and stashed packets of yellow sticker items in their freezer for future meals will probably have less space to store them. Though not done on purpose, this can lead to food and money wastage.
In terms of clothing or tech products, just because something is on sale doesn't mean you need to buy it. And, if you are tempted, take a second to research the average price of the item. It might not be as discounted as the store is making you believe.
We get it. After a long day at work, the last thing some of us want to do is spend hours preparing dinner only to devour it 10 minutes later. In this respect, meal kits can be really handy: the ingredients and instructions are there, and they're often quick and healthy meals to make.
Companies like Hello Fresh and Gusto know how to draw you in, too. With photos of perfectly curated-looking meals and 50% off your first order, you feel like you're winning.
But, when you start ordering them on a weekly basis, things start to add up. At Hello Fresh, four meals a week for two people is currently priced at a reduced rate of £19.74. The original cost is £39.49. For a family of four, with five meals per week, it's £34.99, down from £69.99.
At Gusto, you then get 40% off your second box, and 20% for the next two months. Once the sale period is over, five meals for two people are currently £44.75 per week.
According to Money Saving Expert, an average weekly grocery shop for a couple is £62. This also includes food for breakfast and lunch. Therefore, alongside a meal kit, you'll need to shop for your other two daily meals.
Again, we're not knocking anyone for giving something a go. But in terms of saving money, there's a time and a place for amateur DIY. If the task is complex, involves safety risks, and specialised tools (like electrical or plumbing work), it's best to hire an expert.
The initial cost might be more expensive than you were anticipating, but at least you can guarantee a professional job done. Watching a few YouTube videos on how to rewire your whole house doesn't count as experience. Plus, if you make a mistake trying to save a few quid, it'll cost you a lot more in the long run.
If you do need house or car repairs, it's vital to have an emergency fund.
CEO of Yopa, Verona Frankish, recently told Metro homeowners should aim for three to six months' worth of costs in their emergency fund.
Her figures place an average three-month safety blanket at £5,899.26, and six months at £11,798.52.
That's £1,966.42 per month as a safety blanket, which covers:
£223.60 for maintenance, which covers things like boiler servicing and window cleaning).
£1,298.96 per month on average for a mortgage
£190 for council tax
£154.08 for energy
£50.25 for water
£14.54 for a TV licence
£34.99 for broadband
Wholesome? Yes. Healthy? Yes. Cheaper than going to the supermarket? Questionable.
Metro's Lifestyle Editor Rachel Moss spent £100 'on dirt alone' the first year she created a veg patch in her garden. And though she grew a mountains of courgettes, the squirrels ate the strawberries, the slugs decimated the lettuce, and the carrots and aubergines were miniscule.
'Three years later I've invested in nets and slug traps, learned a lot and had more success, but you still can't predict the weather,' she warns. 'At this point it's still a hobby, not a money-saver.'
Sheeran expands on this, noting that the setup can be pricey.
'Compost, fertiliser, seeds, planters, tools — it's easy to spend £50 to £100 before you've even planted anything,' he says.
While Sheeran says that's fine if you're growing lots of or more expensive veg, but if you're growing a few lettuces or carrots, it might cost more than buying them in the supermarket.
Amazon, IKEA, and B&Q offer basic planters from as little as £15 to £60. Larger products can be as much as £140. Soil prices vary based on type, quantity, and supplier, but you can expect to pay anywhere from £2.50 to £40.80 per bag or £9.60 to £29.95 per tonne for loose loads.
On Amazon, a 20kg bag of general purpose fertiliser is £24.99, while pest control depends on the type of product. A simple bug spray might cost you £10, but a bird and pest repeller device could be £50.
Instead, 'start small, reuse what you've got, and don't overspend on fancy kits,' says Matthew.
He recommends old buckets or washing-up bowls, as these make great planters if you drill holes in the bottom. Also, check local Facebook groups, Marketplace, next door or community allotments. More Trending
'People often give away seeds, tools or even compost for free,' he adds.
Ultimately, Matthew says, whether you're bulk buying or growing your own, the trick is to ask yourself: do I really need this much? Have I checked the unit price?
A little thought upfront can make a big difference to your budget.
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