Ten Easy Ways To Save Money Fast

Perhaps the most extraordinary aspect of the Navinder Sarao story – Mr Sarao being the trader who is accused of upsetting the biggest stock market in the world – is not his alleged financial markets skulduggery, but the details concerning his extreme penny-pinching.

“Nav only loved making money, not spending it,” tweeted Adam Whiting, a former colleague of Mr Sarao’s, this week. It’s a comment that is hard to argue with when you read about the young multimillionaire postponing eating lunch until late afternoon, when he could buy reduced sandwiches from the supermarket. Mr Whiting also recalled his former colleague spending 100 at Sports Direct in celebration after a 15,000 deal worked in Mr Sarao’s favour, buying another tracksuit. When the trade came back and he lost the money, Mr Sarao took the clothes back.

These details certainly suggest a man, who reportedly made 26.7 million while his mother worked two jobs, who takes saving money extremely seriously. He would, therefore, approve of the tips below on how to save money like an extreme penny-pincher: like a high frequency trader with a disinclination to spend the millions you make, in fact.

1. Never, ever, go to Pret a Manger. Would the so-called Hound of Hounslow waste his time flirting with the staff at Pret in the hope of a free coffee when there is money to be made on the stock market? He would not. This could save big money: estimates that the average worker spends nearly 90,000 during their working life buying lunch, as well as teas and coffees. A compromise is to purchase a Verismo coffee machine, currently available for 49 on Amazon, that makes Starbucks-quality coffee in your (modest) home.

2. If you really must have your own car and you’re not content with borrowing your parents’ – as our saving hero Mr. Sarao does – buy your car at the end of the month. It is at this time that salespeople are looking to meet their quota in order to obtain a commission, which may make them open to negotiating. The Money Advice Service says that 64 percent of people who try to haggle when buying a car are successful, and has a helpful guide at

3. Make sure you buy a small car: they cost less in initial outlay, petrol, and insurance. Don’t go for the most expensive insurance plan just because it’s the first one you see and offers all the coverage you want to have for your car. Shop around. Consider all of your payment options, like seeing if low deposit car insurance is a better route to go down than paying in one lump sum upfront. That will cost you more money in the long run, leaving you short of any other expenses that need paying for in the here and now. Be sure to research all of your options before settling on an insurance plan. Also, make sure you have enough air in your tires: the AA has calculated that if your tires are underinflated by 8lbs per square inch you will use between 4 and 6 percent more fuel. You can search for new cars by tax band and fuel economy on the government website

4. Should you hit a pothole and have to repair your car, make a claim from your local council or the Highways Agency for the money you’ve had to spend. For more information on this go to

5. Try using price comparison sites like Only Reviews when you need to buy anything for car repairs. It’ll open your eyes to brands that offer cheaper alternatives to what you would have bought already.

6. And when at home, set the timer for your heating system to go off 30 minutes before you leave the house (this is the time the charity National Energy Action says it takes your home to cool down). This is to avoid paying for heating you are not using. You can also consider switching to a more sustainable heating method such as propane or heating oil furnace since these fuels can cost comparatively less than electricity bills. Moreover, if interested, you can also look into the benefits of automatic delivery service for heating oil, which can help you obtain discounts and special offers. While choosing to make this switch towards a greener home, however, beware of the potential risks that can come along. Since storing the fuel often requires having an oil tank set up, keeping the oil tank maintained becomes essential. This is done to avoid the risks of an oil tank leak, which can damage your property and the environment. Be sure to have your tank inspected regularly and repaired as needed by the likes of, and take precautions against any potential leaks. Only with proper installation and maintenance, you can expect to save a good sum of money.

7. For similar reasons, turn off the oven five or ten minutes before the end of the cooking time – and if the weather is cold, keep the oven door open after you’ve pulled your meal out to help heat the house.

8. Keep your freezer full and your fridge not so full. Freezers are at their most efficient when at least 75 per cent full. Less empty space means your freezer has to work less hard to keep the temperature down. The opposite is true for fridges, where cold air is needed to keep the temperature down. Keeping the fridge fully stocked costs more money to keep everything cool. The Energy Saving Trust website at has a host of further tips on home energy saving and a home energy checking tool that predicts how much money your household could save by implementing them.

9. Move your money out of poor-value savings and current accounts. A surprising number of otherwise savvy people earn savings interest of as little as 0.1 per cent because they never get round to switching. You can now earn up to 1.5 per cent interest in the best easy-access accounts, and 2.9 per cent in fixed-rate bonds. People aged 65 and over can still get 4 per cent with NS&I’s pensioner bonds, which are on sale until May 15. Compare deals at websites such as, and remember to use your tax-free cash Isa allowance. Meanwhile, comparing and switching current accounts is easier than ever, thanks to a new personalised switching service from Gocompare, as we report on page 62.

10. Likewise, millions of people are paying well over the odds for mortgages that they took out years ago. Current deals that you could remortgage to include HSBC’s five-year fixed rate at a record low interest rate of 1.99 per cent, with a minimum loan to value of 60 per cent and a 1,499 fee.

How coffee shops eat up cash

A typical weekly expenditure
Cappuccino 2.15 x 3
Americano 1.75 x 2
Ham panini x 1 3.25
Salmon sandwich x 1 3.25
Chicken and bacon baguette x 3 3.65
Total: 1,424.80 a year

Instead you could buy
11-inch Apple MacBook Air with 128GB storage and 4GB RAM, 749
One week all-inclusive at the five-star Baron Resort in Sharm-el-Sheikh with Thomas Cook Holidays, 686pp

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