Simple tips to save you money

Sometimes saving is just about making little changes to your spending habits. Try a few of these brilliant money-saving tips to start growing your savings today.

Switching to LED lighting and buying energy-efficient appliances, such as refrigerators and washing machines, can bring your bills down. You may even get financial assistance from the government to install solar panels on your roof. Try to beat the heat with fans and window shades, and by keeping the doors shut.

If you're using an air conditioner, don't set the temperature too low and remember to clean the filters regularly. That way it won't have to work so hard to keep your house cool. 

Changing your payment method can save you money too. You can get instant discounts when you use your HSBC Credit Card for payments for electronic products with applicable offers.

You don't need to buy everything at a big supermarket. Your daily groceries, like fruits and vegetables, will be cheaper at your local market. 

From buying in bulk and setting a budget to planning your meals and storing your food, there's a range of things you can do to cut your spending. Used responsibly, credit cards can also be a great way to earn money back on all your transactions, including dining, ordering food online and groceries. 

Whether it's fitness apps, TV or magazine subscriptions, it's easy to sign up to different services and then forget about them. 

Go through your bank and credit card statements and make a list of all the subscription services you're paying for. Contact your credit card issuer immediately if you notice any suspicious-looking charges. 

Cut out all the ones you're not using and maybe even a few you are, just to see if you'll miss them. You can always subscribe to them again. 

When shopping online you'll see various deals and promo codes. Sometimes, you may have to do something like sign up to a newsletter to receive 10% off your next order. Other times there may be a promo code you can find that will offer you a better deal.

It can pay to do your research to find the latest discounts. Online stores will often offer new customers the best deals. See what happens if you open your browser in incognito mode! Compare prices and set up alerts that let you know when the sales are on. 

If you're able to, you could add any money you save to your savings account.

If you've got a personal loan, credit card, overdraft or mortgage, you're likely being charged interest. Depending on your situation, you may be able to minimise the amount of interest you're being charged and reduce your monthly repayments. 

A balance transfer facility allows you to transfer the outstanding balance from your other bank credit card to your HSBC Credit Card, for example, and repay it in monthly instalments at a lower interest rate.

Visit the HSBC Credit Card Balance Transfer page to know more about the rates and other terms and conditions.

If you have a home loan, you may look to do a balance transfer to find a better deal. A balance transfer is when you transfer your mortgage to a new lender.

Transferring your home loan can save you money if you lock in with a lower interest rate. This in turn will lower the equated monthly instalments (EMIs) on your home loan.

There may be fees and charges to pay when doing a balance transfer. Make sure you understand what these are before making a decision.

If you pay income tax, there may be ways you can save money. You can claim tax deductions on your home and education loan, charitable donations and housing allowance.

A good investment plan will also offer tax benefits while you earn interest. For example, the government's 15-year Public Provident Fund (PPF) is a popular scheme with tax-free returns. The Employees' Provident Fund (EPF) also offers tax benefits on the employee and employer contributions. 

Plan well and do your research for the most savings.