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October 21, 2024   |   Articles

Why you need more than one bank account

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Having one bank account isn’t just risky, it could be costing you cash.

Lots of people only have one current account. And if they’ve not yet switched it for some free cash, they’ve probably had it for a long time.

But limiting yourself to a single account – whether through loyalty, indifference or simply not knowing you can have more – is a bad idea.

And opening up new accounts can bring benefits when managing and accessing your money – and even making some extra cash.

Keep reading or watch this video to see why I think you should have more than one account. 

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

Can you have more than one current account?

Let’s get this cleared up first. Even though many think they can only have one, there’s actually no limit to how many you can open from different banks. You might even be able to have more than one from the same institution.

Due to my job, I’ve got a number of current accounts (it’s actually up to 23 now), but most of you won’t need anything near that many. In fact even just having two can be enough. 

And there’s very little risk in opening and running multiple accounts. I’ve shared a few things to consider further down the article.

10 reasons to have more than one current account

Here are the main reasons I think you should open up extra accounts.

If your bank has technical issues

We rely so much on online and app banking nowadays that not having access for even a few hours can be much more than an inconvenience.

The TSB debacle a few years ago saw people unable to access their wages or pay their rent. Though the length of time the TSB systems were down has been an isolated incident, occurrences of website crashes and app downtime for hours are increasingly frequent at a number of banks.

And the risk of this happening to your bank is the number one reason why I think you should have at least two current accounts. In this second account put enough money in there that you can cover essentials for a few days. If you can put more, then even better.

Make sure that this second account isn’t part of the same group as these tend to share technical systems. So If you’ve got a Halifax account, make sure the second isn’t Lloyds, and visa versa. And the same for Natwest/RBS. I think First Direct and HSBC have different systems but it’s can’t hurt to do the same.

To separate your savings

When I was younger I was guilty of just having all my money in one account – savings and spending. Which meant that I didn’t ever really know how much I had in savings, and it was possible to “accidentally” dip into those funds with everyday spending.

The answer to avoid this is to open up a separate account and move all your savings over. Then set up a standing order to regularly move more money each month.

You could of course put this cash in a normal savings account, but the top rates right now are in a handful of current accounts.

You can get 6% on up to £4,000 with Santander, while there’s 5% for one year on up to £1,500 with Nationwide’s FlexDirect. You can also get even better rates, between 6.17% and 7% in linked regular saver accounts with First Direct, Co-op Bank, Lloyds, Nationwide and NatWest that require a current account with that bank.

These are far higher than you’ll get anywhere else for cash savings right now. I’ve written more about the best place for savings here.

The best savings accounts

Check out our list of the highest paying regular, easy-access, fixed and ethical savings accounts

To keep your overdraft debt separate

This trick also works if you have a huge overdraft. If you’re regularly in the red, it can be hard to track how much if you’re also spending out of the same account.

But if you open a separate account for your everyday spending, you can begin to treat and manage the overdraft debt as you would any other owed money, such as a loan or credit card. That’ll help you focus on clearing it (especially since you’re likely paying a huge 40% interest on that cash).

To protect your cash from scammers

Sadly there are more and more scams aimed at your bank accounts. From fake phone calls through to phone thefts, you’re at risk if you have all your cash sitting on one place.

Of course, if a crook does get access to one account, they might also be able to access others at the same time, so make sure your accounts are protected in advance.

To manage your money with someone else

Every couple manages their money differently. Some only have their own accounts and that can work fine. But joint accounts are particularly good for join expenses.

You need to have a chat with your partner about what works best for you, and it could be a joint account is a bad idea – especially since it will link you on things like your credit report.

For help with budgeting

I think it’s worth having a separate account too for your everyday spending. You only move over the cash you want to part with, whether on a weekly or monthly basis. Ultimately this will stop you overspending and also help you keep track of where your cash is going.

There are certain accounts that make this a lot easier. Monzo, Chase, HyperJar and Starling are all really good banks for this as they also have additional pots or spaces to further break down your spending.

To make some money

If you only want a maximum of two bank accounts a really good option is to make sure one of them is going to be making you money.

There are plenty of accounts offering freebies such as Disney+ and cinema tickets or even money each month. The more of these you have the more you’ll get.

The best is probably a cashback current account. One from Chase will pay you 1% back on everyday spending via the debit card. The other from Santander earns 1% cashback on your bills. Unless you don’t pay things like Council Tax, energy or broadband bills then you will make money.

To keep switching

I’ve made a lot of cash by switching from bank to bank and nabbing incentive bonuses each time. Now some people struggle with the idea of switching once, let alone repeatedly, and in part that’s because they like the bank they are with.

Well you can get around this by having a separate account that you just use for switching. The offers come and go (there have been none during lockdown), but there’s no harm having an account ready for if/when offers appear.

The best bank rewards and switch bonuses

Check out my list of all the offers you can get when opening a new current account

the best bank switch offers on a blue background

If you need to go into a branch

I’d also try to ensure one of your accounts – and again this can work if you only have two accounts – has a branch that you can physically walk into if you need to. 

Though I rarely need to go into a branch these days, there are times I do. In the last year I’ve had to take out a large amount of cash, sign forms and pay in cheques (though as I wrote some banks allow you scan cheques via the app). And only a few years ago I popped into a Halifax after there were some fraudulent transactions on my card. 

Yes you can cover a lot of this online or over the phone, but I like the option to go into a branch if I feel the need. And if you’ve multiple accounts it’s easy enough to make sure one of those is local.

For fee-free overseas spending

A final one to add to your wallet is an account with Chase, Starling, HyperJar, First Direct, Monzo and others all offering fee-free spending abroad. Here’s more in guide to specialist travel cards.

Multiple current accounts and your credit score

Before applying for a new account, make sure your credit report is up to date and there aren’t any obvious warning signs. This is because you will be credit checked each time you open an account (except with Monzo, Chase or Starling).

It’s worth spacing the applications out rather than doing them all at once. And if you’re thinking of applying for a mortgage in the next six months it’s wise to just hold off until that has gone through. But the risk is minimal.

I’ve written more about how bank switching impacts credit scores here.

Andy’s Top Current Accounts

  • Starling Bank for everyday banking (review)
  • Chase Bank for cashback on spending (review)
  • Santander Edge for cashback on bills (review)
  • Halifax Rewards for free cash every month (review)

Opening up additional current accounts

It’s very easy. You simply pick which account you want to open and go through the application process. You’ll enter details about your address history and income, and share ID such as your passport or driving licence.

Some accounts will let you do this completely online, and will absolutely be the case for digital only banks such as Monzo, Starling and Virgin Money. You’ll probably need to upload photos of ID.

Others might require you to visit a branch with ID to complete the process. I can’t say which ones will and won’t ask for this, but this happened for my Natwest and Barclays applications.

How to manage multiple current accounts

Some benefits that come with additional accounts require things like additional direct debits or minimum payments in every month. But there are tricks to manage this.

You might also struggle to keep tabs of your many accounts, but some banks let you add on accounts from other banks, while there are apps like Snoop and MoneyHub which aggregate all your balances onto one screen. Password managers such as Bitwarden also allow you to safely store all those different passwords and usernames.

And those only really become issues if you are having lots of accounts. If we’re talking about opening just two, three or maybe four accounts you shouldn’t have any problems.

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Our podcast

Listen to Cash Chats, our award-winning podcast, presented by Editor-in-chief Andy Webb and Deputy Editor Amelia Murray.

Episodes every Tuesday.

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October 20, 2024   |   Articles

John Lewis price match: how it works

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You can claim the difference back if it’s cheaper at Amazon and 24 other shops

In 2022, the ‘Never Knowingly Undersold’ price match promise disappeared. Though they did replace it with the ‘Price Drop Refund’, it wasn’t the same.

Well the good news is the John Lewis Price Match is back. Here’s everything you need to know about the new scheme.

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

What is the John Lewis price match?

At its most simple, if you buy something from John Lewis and find the price is lower at any of the following retailers before you buy or within seven days after purchase, John Lewis will refund you the difference.

The department store uses AI technology to price match 25 high street and online retailers, including: 

  • AO .com
  • Amazon
    • Electricals only: tech, TV & audio, computing and gaming, small and large home appliances, mobile and smart tech, and beauty/dental electricals
  • Apple
  • Argos
  • Asos
  • Boots
  • Currys
  • Dunelm
  • Dreams
  • The Entertainer
  • Fenwick
  • Flannels
  • Furniture Village
  • Harrods
  • Harvey Nichols
  • Heal’s
  • House of Fraser
  • Lakeland
  • M&S
  • Mama’s and Papa’s
  • Next
  • Richer Sounds
  • Selfridges
  • Smyths Toys
  • Space NK

You can also price match John Lewis itself if the price drops after you’ve bought something from them.

It’s great to see Amazon added to the list, as before only retailers with physical premises were included. However, restricting the scheme to just 25 stores does mean you won’t be able to match prices at other chains and independent stores, in particular decent white goods retailers such as Marks Electricals or beauty brands like Benefit.

Sadly this time around the time to make a claim is much shorter. Just one week, compared to 35 days before.

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How to claim a ‘price match’ refund

You can price match in-store or via the John Lewis website. You’re no longer able to make a claim via the phone. Annoyingly it’s a new form for every item you want to price match.

Here’s how it works depending on whether you find the lower price elsewhere before or after you buy.

Before you buy

If you’re buying in a John Lewis shop and have found the item for less at one of the listed competitors above, you just need to show evidence such as a link to a website or a screenshot, and they will match that price subject to the terms and conditions. 

If you are making a purchase online and spot a lower price at one of the listed competitors, then the easiest way to claim is by completing the purchase first and then filling out the online claim form with evidence of the competitor price. You’ll hear back within 48 hours.

After you buy

If you buy an item at a John Lewis shop and you notice that the price has dropped at one of the major competitors listed above within seven days, you can submit a claim for the difference. 

You’ll need to fill in the online claim form, providing evidence as well as your original receipt as proof of purchase. 

If your claim is accepted, you will be refunded the difference using the original payment method, and if you used cash or a gift card for the original purchase, you’ll unfortunately need to visit a John Lewis store in order to receive your refund.  

If you made your purchase online, then it’s the same process as above using the online claim form and if approved you’ll get your refund within five days.

And just like their price drop refund, they also price match against any price drops of their own within seven days. So if you notice they’ve lowered the price of something you’ve bought from them within the time frame, be sure to submit a claim for the difference.

What products are price matched at John Lewis?

John Lewis price matches identical items, which means it must be the same make, model, size, colour, version and specification.

The product in question must also be in stock online and ready for delivery from the competitor as well as from John Lewis. 

It’s important to know that where there is an additional charge such as a competitor’s delivery fee, that this is also taken into account in the price match. 

With Amazon, John Lewis will only price match electrical items sold directly by Amazon (not marketplace sellers) and they don’t price match lighting, electrical toys, baby monitors or any non-electrical items.

What’s not price matched at John Lewis?

Sadly you won’t be able to price match against:

  • clearance offers
  • multi-buy offers
  • special member prices including loyalty discounts
  • flash sales such as lightning deals
  • prices with a voucher code
  • exclusive prices
  • trade prices
  • against any obvious pricing errors
  • competitors that are closing down
  • concession brands like Nespresso, Jo Malone and Longchamp

Some of these are more important to note than others. Previously you could match voucher codes, so it’s a shame that’s been excluded.

Watch out too for against additional services such as extended warranties, fitting or disposal, as these won’t be included in the price John Lewis match.

They also don’t price match any financial services like foreign currency purchases, though that’s not something you’re likely to see with any of the 25 listed retailers apart perhaps M&S.

How you get the refund

Unless you buy in-store and the match is agreed upfront, you won’t get the money knocked off the initial price you pay. Instead you’ll pay the full whack, and the difference will be paid back to your original payment card within five days.

Why it’s worth doing a price match at John Lewis?

Obviously if you can get something for less elsewhere, you’ll save money. But that’s not the only reason. 

John Lewis gives a minimum 2 year guarantee on all electricals and 5 years on TVs at no extra cost, which is something you often pay extra for at competitors.

They also have good customer service so if anything was to go wrong with your purchase, you’ll find the whole warranty process easy to navigate with them.

So in essence, you’ll be getting the best price as well as the best service. But they’re not the only retailer to price match. Check out our list of other retailers that offer a price match.

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Episodes every Tuesday.

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Top tips to make sure the John Lewis price match works for you

We’re sharing some points we learned during the last version of the scheme. It might be they aren’t as much of an issue this time, but they’re things to be aware of.

Avoid using cash or gift cards

A new one for this version of the scheme is that if you paid in-store via a gift card, gift voucher or cash and then want to later claim for a price match, then the refund can only be paid out in a John Lewis shop . That could be a pain if you don’t have one near you.

We’re checking with John Lewis whether this also applies to gift card purchases online. The claims form would suggest you’ll be ok, but the terms state otherwise.

To get around this you could obviously stick to using a debit or credit card. Or if that’s not possible try to only part pay with gift vouchers or cash and then put the rest on your debit or credit card.

This will hopefully allow the refund to go on the card and save you a trip to the shop itself. Though of course you won’t know in advance if you’re going to be able to match, and if so by how much, so you could still come unstuck.

You can still put the claim in online though, which is a big improvement on the last version where all in-store claims had to be made in-store.

Check it’s the exact same item

You won’t be able to get the money back if there’s any variation – that could be colour, size or even just the model number. So if you’re only buying from John Lewis because of the price matching, make sure it is the same before you buy.

Don’t assume something has already been price matched

When John Lewis says it’s “Never Knowingly Undersold”, that’s not true. If that was the case it would reduce items as soon as they honour a price match.

In the past I’ve had a price match approved but the price on the website has stayed the same.

This means that even when something is labelled as reduced as part of a price match, make sure you can’t get a better deal still elsewhere. And if so, then put in a price match request.

Be persistent

It used to be if you phoned up to match prices the answer could be dependent on the customer service agent you spoke to. And the same could also happen online.

This time around it’s unclear if there’ll be any human moderation of claims or if it’ll all be done using AI. Even so, if you get rejected, it could be worth completing the form again to see if you get a different answer.

That doesn’t mean “don’t take no for an answer”. You won’t be able to match everything, but if you think it’s a legitimate claim based on their criteria then it’s worth trying a second time if you are rejected.

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October 16, 2024   |   ArticlesReview

Tesco Clubcard Plus review – is it worth it?

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Tesco promises savings of over £400 a year but you’ll have to pay a monthly subscription

Tesco launched Clubcard Plus – a premium version of the popular Clubcard loyalty scheme – back in 2019. As a member you’ll potentially save up to £384 a year on your groceries – as well as take advantage of other features.

The idea, much like Amazon’s Prime, is to bundle in lots of services together and build brand loyalty. I’ve taken a look at what it offers, to help you decide whether it’s worth paying for.

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

Tesco clubcard plus logo

How much does Tesco Clubcard Plus cost?

You can upgrade to Tesco Clubcard Plus for £7.99 a month. You’ll be able to cancel it for months you don’t use it as there’s no long-term commitment when you sign up.

There’s also a free trial for your first month (more on this in a bit), which means if you do keep it you’re looking at £87.89 in year one, then £95.88 in subsequent full years.

What do you get with Clubcard Plus?

  • 10% off two big shops in-store each month. Max £200 per shop. Exclusions include:
    • petrol
    • lottery
    • gift vouchers
    • tobacco
    • baby formula
    • prescriptions
    • magazines
    • stamps
    • wine that is in the 25% off when you buy six bottles promotion
  • 10% off Tesco brands on every shop including
    • F&F clothing
    • Tesco Pet 
    • Fred & Flo 
    • Go Cook
    • Go Play
    • Go Create
    • Fox and Ivy
    • Paperchase
  • Double data from Tesco Mobile for one mobile registered at your address
  • Fee-free overseas spending with Tesco Bank credit card

The best deals

Find our picks of the best offers in our dedicated deals library

Are the supermarket savings any good?

To cover the £7.99 a month you’ll need to spend £79.90 on groceries in Tesco across two transactions. That could be across one £80 shop, or two lots of £40 (or any other combinations). If that’s your regular supermarket spend that’s going to be easy to reach, possibly with just one visit. 

Ideally though you’ll want to spend more to take full advantage of the 10% discount. There’s a £20 cap per shop, or £40 per month. This means if you spend £200 on two occasions in a month, it’s possible to knock £40 off at the till every month.

Once you factor in the fee you’ll really be saving at most £32.01 each month, potentially adding up to around £380 a year.

More realistically you’ll likely spend – and save – smaller amounts, though saving some regular big purchases for when you use your discount will help.

Fortunately you do get to choose which shops you use the discount for. You’ll need to go into the Clubcard app and download a code to scan at the till. However, it is in-store only and not online.

So if you do your main shop at Tesco then this is a must, as long as you are going to spend at least £80 a month across two transactions.

Should you swap to Tesco for the discount?

If you have a Tesco near you, then I think Clubcard Plus could be a good reason to swap over – at least for a couple of trips each month.

Though it’s not usually the cheapest supermarket out there, it’s often not much more than others, and the 10% back could make enough of a difference to be worthwhile.

Double your discounts hack

You should also be able to sign up more than once per household. Yes, you’ll have to pay two lots of £7.99 every month, but if you are spending enough at Tesco it could be worth it as you’d get the discount on four shops rather than two.

Remember, as long as there is at least £79.90 spent each month on each card you are covering the fees. But only do this is you are likely to max out the two lots of £200 on the main Clubcard Plus account in your family.

Are the other features worth paying for?

If you don’t shop at Tesco then I don’t think the other features warrant the £7.99 fee on their own. But if you are already getting the fee back (and more) from Tesco groceries then it’s worth checking out what you could get.

The 10% off Tesco brands such as Tesco pets could save you a decent amount, but work out whether you can get these items for less elsewhere first.

The fee-free spending abroad credit card is a bit pointless when better bank cards exist, such as Chase Bank and Starling’s debit cards.

The double data offer on Tesco Mobile sounds good, but since it only offers 2GB or 12GB as entry-level SIM-only deals, you’re either getting too little or too much data, even with the extra thrown in. It’s better to shop around and find a SIM elsewhere.

How to sign up for Tesco Clubcard Plus

You can apply online or via the Clubcard app. You won’t get a new Clubcard – instead you’ll operate the extra savings from the Tesco app on your phone.

Tesco Clubcard Plus free trial

If you’ve not used Clubcard Plus before or haven’t had it in the last six months and not had membership for six continuous months, then there’s currently a month free trial for Clubcard Plus.

You get all the same discounts, so it could be worth up to £40 off in the first month.

You can cancel at any time during the first month and you’ll continue to get all the discounts until the next month.

Sign up to Clubcard Plus

Can you cancel Tesco Clubcard Plus?

Yep, it’s easy to cancel, and there’s no commitment past each 30 days. So remember to stop it when you’re not using it (such as when you go on holiday). You can reactivate your membership when you want to get the benefits again.

More Clubcard savings

You can of course continue to earn Clubcard points on your Tesco shopping. Here’s my pick of the best ways to earn and spend Tesco Clubcard points.

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October 16, 2024   |   Articles

What are loyalty card points worth?

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The real value of your Tesco Clubcard, Nectar, Morrisons More, Boots Advantage and Superdrug Beautycard points

If you’re like me, you’ll have a few loyalty cards on your phone and swipe away when you get to the till. But do you have any idea what the points you earn are worth?

I’m a big fan of Clubcard points as you can boost their value. I know what my Tesco points are worth as I use them frequently, but what are 2,000 Nectar points worth? Or 800 Boots? Plus there are schemes at Morrisons and Superdrug too – and they’re all different.

To help me – and you – I’ve taken a look at the biggest schemes to see what you get for your points, and how much you need to spend in order to actually use them.

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

How much are Tesco Clubcard points worth?

Value of Tesco Clubcard points

  • 1,000 Clubcard points = £10
  • 500 Clubcard points = £5
  • 100 Clubcard points = £1
  • 1 Clubcard point = 1p

Real value of Clubcard points

  • Usually 1 point earned per £1
  • So 1 point = 1% of your shop
  • Minimum payout is 150 points = £1.50 in vouchers
  • So you need to spend £150 before you can start using points

You can earn these at Tesco shops, petrol stations, website and also via Tesco Mobile and Tesco Bank.

Though the value is equivalent to 1%, you can boost them, usually double the value. Read the Best Uses Of Clubcard Points article for more on how to make the most of these points.

There are often extra discounts in store for Clubcard holders.

The best ways to earn and spend Clubcard points

How much are Nectar points worth?

Value of Nectar points

  • 1,000 Nectar points = £5
  • 500 Nectar points = £2.50
  • 100 Nectar points = 50p
  • 1 Nectar point = 0.5p

Real value of Nectar points

  • Usually 1 point earned per £1
  • So 1 point works out as 0.5% of your original Sainsbury’s shop
  • Minimum payout = 500 points will give you £2.50 credit
  • So you need to spend £500 before you can start using points

You can get bonus points on specific items each week, but you need to activate these in the app. You can also earn Nectar points at Argos.

There aren’t really any ways to boost the value of your points, but here are the best ways to earn and spend your Nectar points.

The best ways to earn and spend Nectar points

How much are Morrisons More points worth?

Value of Morrisons More points

  • 1,000 Morrisons More points = £1
  • 500 Morrisons More points = 50p
  • 100 Morrisons More points = 10p
  • 10 Morrisons More points = 1p
  • 1 Morrisons More points = 0.1p

Real value of Morrisons points

  • Points are earned on specific products rather than your whole shop
  • The amount you earn will vary, so you can’t assign a percentage value for 1 point
  • Minimum payout = 5,000 points will give you a £5 voucher

Morrisons brought back points in the summer of 2023 (having axed them two years earlier). It’s different from the likes of Clubcard and Nectar but you can find out how Morrisons More works here.

You’ll need 5,000 points to cash them out as a £5 voucher and there aren’t any ways to boost the value of the voucher.

How much are Boots Advantage points worth?

Value of Boots Advantage points

  • 1,000 Advantage points = £10
  • 500 Advantage points = £5
  • 100 Advantage points = £1
  • 1 Advantage point = 1p

Real value of Boots Advantage points

  • Usually 3 points earned per £1
  • So 1 point works out as 3% of your original shop
  • Minimum payout = 1 point / £0.01
  • But you can’t part pay with points (you need enough points to cover the total of the transaction for which you are using them)

You can only spend them in Boots shops or online at Boots.com. Of course, if you can get your shampoo cheaper elsewhere, the points probably won’t make any difference.

Keep an eye out for frequent bonus deals and vouchers where you can earn double value or even more for your shop. There are often extra codes in your online account.

The best ways to earn and spend Boots points

How much are Superdrug Beautycard points worth?

Value of Superdrug points

  • 1,000 Superdrug Beautycard points = £10
  • 500 Superdrug Beautycard points = £5
  • 100 Superdrug Beautycard points = £1
  • 1 Superdrug Beautycard points = 1p

Real value of Superdrug points

  • Usually 1 point earned per £1
  • So 1 point works out as 1% of your original shop
  • Minimum payout = 100 points / £1
  • So you need to spend £100 to use any points

It’s similar to Boot’s in that there are often bonus points offers. You can only use your points in multiples of 100.

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October 16, 2024   |   Articles

Your Christmas money checklist

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Tips on managing your Christmas budget and getting the best value

Christmas is usually one of the most expensive times of the year. And it tends to creep up on you faster than you think – meaning it’s a good time to start thinking about how much you’ll spend.

In fact, it’s never too late (or early) to get started on your Christmas prep.

Here, we share a Christmas money checklist of the main expenses to help you manage your finances this Christmas season.

We’ve also thrown in some tricks to help you cut costs and make sure you have enough money to cover everything.

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

How to pay for Christmas

This first point on the checklist is possibly one of the most important. Actually it IS the most important. If you don’t know how you’ll pay for Christmas it could cause a world of pain next year.

Decide what you can afford

It’s so easy to overspend, so now is the time to work out not just how much you can afford to spend overall, but also how you want to split that between each individual person and part of Christmas.

To do this, you need to get two figures. First check your bank and savings balances to work out how much money you have now – though don’t assume you can or should put that all to Christmas. There will no doubt be other expenses that need to be covered in the coming months, such as holidays you want to save for. It’s also a really good idea to have an emergency stash for the unexpected costs that always crop up.

Then take a look at how much more you’re going to earn in the run-up. That’s essentially your income each month after taxes, minus your expenses. Again, you might not want to allocate all this extra cash towards Christmas.

Add the existing funds you’ve set aside for Christmas to the money you expect to come in, and the figure left is the budget you have available to spend.

Work out what you want to spend

Next you need to think about what you want to spend. Think about all the aspects that usually come along each year. Obviously there are presents and food to buy, but what about travel, work parties, decorations? We’ve detailed a few of these further down this article.

Then allocate a spending amount to each one. Try to get these as accurate as possible. Once you’ve done that, get a total expected spend.

See where you can spend less

In all likelihood you’ll find this figure is larger than what you’ve budgeted for. In a minute I’ll talk about ways to perhaps find extra cash to help fill the gap. But if that doesn’t work the best option is to find where you can spend less.

That could be mean some hard decisions, but people will not want you getting into debt just to buy more presents or more food.

Talk now to friends and family about the situation (they’ll likely be feeling the pinch too). It could be you agree on price caps for presents, or even decide you’re only going to do a Secret Santa with friend groups rather than everyone buying everyone a separate present.

Look at cheaper ways to borrow

Sadly cutting back is easier said than done for many at Christmas. If you feel it’s not an option for you, and you know you will absolutely spend more than your budget, then at least find cheaper ways to borrow.

With each of these, you should still know how and when you’ll clear the debt next year before you spend. The alternative is the interest and charges will keep adding to the money you borrow, and potentially causing bigger money issues.

So where do you go? Be particularly careful with Buy Now, Pay Later. Though it seems convenient, it’s easy to lose track of how much you owe, and they could tempt you to spend even more than you can afford.

Overdrafts aren’t great either. In fact they could e one of the worst ways to get through Christmas – interest rates are now around 40%. But some banks will offer an interest-free buffer which might help.

You could instead look at a 0% interest purchase credit card. Watch out for interest charges if you don’t clear the balance by the time the promotional zero per cent period ends. You need to know how you’ll repay your spending before that happens.

Or, see if there’s a credit union near you. Though there will be interest charged on your loan it should be one of the most affordable – unlike payday and other high-cost loans!

Can you find a bit of extra cash?

Giving your budget a cash boost is a surefire way to help you cover costs.

Check for forgotten cash

Now is the time to check that you don’t have any money left in your account. It could be Clubcard or Nectar points you’ve accumulated, credit owed from your old energy supplier, or a refund to your John Lewis account. Check out this round-up of places to look for forgotten cash for more.

Get some banking bonuses

One of the best ways to make some easy cash is to switch to a new bank account, with up to £400 on offer. Most of the current deals should pay out just before Christmas, but if not it’ll certainly help when you’re low on funds in the New Year. Here’s my guide to all the latest bank switch offers.

Latest bank switch offers (A-Z)

As of 13/10/25

Click the links for further details and analysis

Apply for a cashback payment card

Many of the welcome bonuses for American Express cards require a heft spend of at least £2,000 in three months, so the next few months can be the best time to get one. And in return you can get up to 5% cashback or extra points worth a few hundred quid.

I always suggest waiting for a boosted offer, though these increased bonuses on the Amex Gold and Platinum cards have just ended, so I don’t know if we’ll see another one this year.

However, remeber you must pay off the balance in full every month to avoid interest charges. If you don’t do this it’s a waste of money.

Here’s our guide to the best cashback and reward credit card offers.

The best cashback debit and credit cards

Check out my list of the best cashback cards

Booking travel

Planning and booking your travel as early as possible can help you save money on your journeys around Christmas time.

Trains

If you know you’re heading to visit family by rail then the earlier you book your tickets the better. Since most trains only let you book 12 weeks in advance, we’re now in the window for both Christmas and New Year.

These go fast, so don’t sit around. Here’s how to make sure you don’t miss out on the cheapest advance tickets.

Flights

Flights are a different matter – and already the cheapest tickets are probably gone. But if you’re still to book, you’ll save money by leaving earlier in December or coming back later in January. Mainly you need to avoid the peak days, though it’s often a bit cheaper to travel on Christmas Day or New Year’s Day.

Cars

Again, book any hire car early. Look on comparison sites for the cheapest prices, and search for any cashback sites, voucher codes and other discounts.

Buying gifts

Probably the biggest expense each Christmas. But if you’re clever with your cash you can get more for your money.

Shop in the sales

Sales will help you get better value. You all know about Black Friday, which seemed to stretch for the whole of November and into December last year. It’s often a very good opportunity to buy presents.

But don’t get caught up in the hype for any sale or promotion – deals aren’t always as they seem. Always shop around and compare prices. Better yet, plan what you’re going to buy well in advance of setting foot in a shop.

Plan for deliveries

Yes, we’re used to online orders reaching us pretty fast, but after Black Friday some warehouses and courier companies struggle to meet the demand. That could mean you have to pay more for guaranteed delivery or need to spend again to replace things that don’t arrive. So the lesson here is simple – don’t leave your Christmas shopping to the last minute!

You can also cut delivery costs with a few tricks, such as ordering to collect in-store, or adding on cheaper items.

Wait for post-Christmas bargains

There are occasions where you’re better off delaying your purchase – even after Christmas day itself! If you’re like me you won’t be able to see everyone before 25 December and end up still visiting people and giving presents right up to New Year’s Eve.

That means you can pick up some gifts – specifically anything Christmassy – for much less if you leave it late. I’ve picked up wrapping paper, chocolates, decorations, novelty jumpers and more at a fraction of the price.

Though the lowest prices will be from Boxing Day onwards, some shops will start discounting this stuff earlier in December.

Buying cards, wrapping and decorations

These are the things that could well get forgotten, so make sure you’ve got them covered to avoid overpaying.

Cards

Ideally you’ll have picked these up in the sales last year. If not, then shop around. Personally, I’d look to get cards directly from charities themselves rather than the big shops as then more of the money goes to the causes.

Or if you really want to save money (and paper), you can create free online cards which can be emailed.

Stamps

A few years back I uncovered the shocking mark-up corner shops are putting on postage stamps.

If you still send Christmas cards, make sure you buy your stamps from authorised retailers. They can’t increase the price.

Wrapping paper

My trick here is to buy plain paper. Whether that’s a blinging gold, bright red, shiny silver or basic brown. The reason? I can use these for other presents throughout the year. They work fine for birthdays, weddings, and pretty much everything.

Decorations

If you still need to buy things for the tree then try to wait as close to Christmas as you can. Everything from baubles to artificial trees is heavily discounted from mid-December. The Christmas a few years ago we picked up a great artificial tree at 50% off on 22 December.

Stock up on next year

Ok, so this is no good for this year, but it’s worth remembering come late December and early January that the biggest savings come not for this Christmas but for the next one. Come the sales you can pick up cards and wrapping paper for next to nothing. Stock up for a fraction of the price.

Buying food & drink

We spend a lot on food and drink over the festive period, but it’s possible to pick up some decent deals.

Book your Christmas delivery slot

Most supermarkets have already opened bookings for Christmas, so if you want a slot you don’t want to leave it much later to secure it. Here’s when each supermarket allows you to book Christmas deliveries.

Boost your budget with Xmas Saver trick

Morrisons, Tesco, Asda and Co-op all run a special boost at Christmas for people who save with them. You can get up to 6%, and you reduce the risks that come with these schemes if you time it right. Here’s what each supermarket is doing.

Plan what you need

If you tend to waste food at Christmas, then the simple answer is to buy less – and this will save you money. Consider who you need to cater for, and work out what you’ll actually need. If you want to make sure you don’t run out then once more get supplies that either have a decent shelf life or can be frozen.

Reduced bargains

Longtime readers and listeners will know I love a good supermarket reduction. And there are very few times for these that are better than Christmas.

That’s because shops will close on Christmas Eve, and might not open again until 27 December. So that’s at least one day, possibly two days, of food that needs to be cleared out.

Of course, supermarkets are on to this and I’m sure there’s definitely less food produced with use by or best before dates of 25 and 26 December.

Even so there are enough bargains to be had as the shops try to clear the shelves. And some of the best bargains are on festive foods. So get some space in your freezer!

Alcohol deals

The supermarkets tend to have a price war on wine, beer and spirits, meaning you can get some low price booze for your celebrations. But these tend to end a few weeks before Christmas. So stock up early. You can keep an eye on the latest deals in our supermarket wine offers round-up.

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October 14, 2024   |   Articles

Own brand medication: save money with the same results

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Ignore big name brands and find cheaper alternatives for pills and drugs that do the same job.

Image of cold and flu tablets

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

Off-the-shelf medication

When you’ve got a cold, you’ll ask for Lemsip. When you’ve got a headache, you’ll ask for Nurofen. When you’ve got a hangover, you’ll ask for a Berocca.

Yes they cost more than own brand, but surely that’s because they’re better at making you feel better?

Well, it turns out there’s little or no difference between many similar medications. In truth you’re usually paying over the odds for name recognition. And this isn’t the only time you might be paying more than you need on medication and prescriptions.

To help you make a decision that’s good for your wallet as well as your health, I’ve taken a look at some of the ways you spend too much on medications and how to save some cash.

Branded medicine is one of the biggest rip-offs we fall for. The vast bulk of the time the ingredients used to make the tablet, cream or sachet are pretty much the same as those cheaper alternatives on the shelf below.

There might be slight variations, but it’s unlikely they are enough to make a difference to your ailment.

You might also have to hunt for these cheaper options, generally hidden on lower shelves with the big brands at eyeline and easy to grab.

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How much can you save?

Here are a few examples of the price difference I found:

Lemsip vs own brand cold medicine

In Boots, a pack of 10 Lemsip Max sachets will set you back £5.70. The own-brand alternative is just £3.49, saving you £2.21. The ingredients are almost exactly the same. And they’re cheaper again buying the own-brand options in supermarkets.

Nurofen vs own brand ibuprofen

Worse is ibuprofen. Standard Nurofen costs £2 for 16 tablets in Boots. The own-brand version is £1.69. But better still is the non-branded value pack at just 55p. And they all contain the same simple ingredient: 200g of Ibuprofen.

The only difference is likely to be in the coating, which won’t make a difference to the effectiveness of the pain relief.

Berocca vs own brand effervescent

Berocca meanwhile costs £5.90 for 15 tablets. The Boots own brand equivalent of the effervescent multivitamin is £1.99 for 20 tablets. That’s 10p per tablet rather than 39p for pretty much the same thing. In fact since the Boots tablets are bigger you actually get slightly higher doses of each vitamin.

Watch this video where I share how to see if items are the same or similar

Exact same products, different packaging

You can even find some products which are exactly the same! In my mini-investigation (i.e. trying to subtly take photos of packaging in Boots) I found an example where the tablets in different packaging were the very same.

Both Panadol Extra Advance and Panadol Period Pain are the same product. They have literally just been put in different coloured packs (you’ve guessed, it’s pink for the period painkiller).

The way to tell is to look for the product line code. This is the letters PL followed by some numbers. If the code is identical then so is the medication.

Now, these two Panadol items should therefore cost the same, right? Well there’s a 10p difference at Boots (surprisingly it’s the one aimed at women which is cheaper). Ok not much money but you get the idea.

And bigger savings are likely to be found when comparing own brand versions of meds in different shops. It’s possible that you might find the exact same formulation at a far lower price.

When I looked a few years ago, I also found that the Boots, Tesco and Asda cold and flu items had exactly the same PL number but at varying costs. So exactly the same item made in the same factory!

I think it also raises a question as to whether these targeted meds are actually anything other than marketing. You could well be better off with the standard version.

Will a prescription be better or worse?

Hopefully your GP won’t prescribe you standard, everyday items like paracetamol that you can buy for less direct from the shop, but it’s worth double checking. Things like eyedrops, steroid creams and more might cost less without a prescription. A pharmacist will let you know if you’re not sure.

However some items will be cheaper if you can get it prescribed, so if there’s something you’re taking regularly do ask your GP if they’ll do this. And don’t forget prescription subscriptions that can work out cheaper too.

And of course, if you’re outside of England, under 18 or over 60, then you won’t pay for any prescriptions, so see if that’s an option for what you need.

The same goes if you are prescribed anything privately. If your GP will fill out a prescription from them instead, it’ll dramatically cut what you pay.

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October 14, 2024   |   Articles

Swap old clothes for money off vouchers

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Recycle clothes and shoes to help save on something new 

H&M, M&S, Schuh, John Lewis, River Island and George at Asda all have schemes that let you swap old clothes or shoes for vouchers.

It’s a great way to clear the clutter and save money at the same time. Plus it’s far better for items to go to charity or get recycled than adding to landfill.

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

Image of a pile of clothes

H&M clothes recycling scheme (£5 voucher)

Donate any bag of old clothes or unwanted garments into an H&M shop and you’ll be given a £5 voucher to spend as part of the H&M Garment Collection programme. In theory, you’ll get a voucher per bag of clothes so you can get multiple vouchers. However, there is a £25 minimum spend with each voucher.

So what can be in the bag? Well you don’t need to have any H&M products to get the voucher. And you can also donate any kind of textile, whether its curtains or knickers as the fabrics are all recycled.

You can also do the same at H&M’s Monki and & Other Stories brands. The latter also has a beauty recycling programme where you get 10% off their cosmetics if you take in your empty beauty product.

M&S and Oxfam’s Shwopping Clothes Exchange (£5 voucher/freebie)

There are three ways to get something back via Marks and Spencer and Oxfam.

Get a £5 off £35 voucher

Hand over your old gear at an Oxfam and you’ll also get a £5 voucher to spend on clothes in Marks and Spencer.

One item must be labelled M&S, and you can only use the voucher in the same calendar month. There’s a minimum £35 spend and it’s only valid on clothing, home or beauty.

I asked in a store a while ago if you can use the voucher with other offers and the checkout woman said she’d seen the vouchers be used with Sparks offers such as 20% off everything. So it’s worth grabbing one of these to use when those deals come around.

You can find your nearest Oxfam and read the full terms and condition of the Oxfam Clothes Exchange.

Get 20% off selected kids’ clothes

You can also trade in your old M&S school uniform and receive 20% off selected kids’ clothing as part of the Back To School Shwopping Scheme.

All you’ll need to do is hand in your pre-loved uniform at a participating M&S store and scan the QR code on the Shwop Box.

You’ll then receive a voucher for 20% off selected kids’ clothing in the M&S app which can be used online or in-store.

Get a Sparks freebies

Or if you want to drop clothes off at an M&S Store you’ll be able to scan a QR code to receive a free treat via the M&S Sparks loyalty scheme.

It can be from any retailer, and the item doesn’t have to be clothing, with shoes, handbags, belts, hats, scarves, jewellery all taken, along with things like bedding, towels, throws and napkins.

The idea is that your donation will either be sold by Oxfam or recycled.

You’ll have to pop into a shop to see if it’s running there or not, but M&S say you can do this at most M&S clothing stores. It seems to work that you can get the Sparks treat every 30 days.

When I tried it the gift was a free pastry from the in-store bakery and I had 30 days to claim it. The M&S staff member who also tried it with me got the same promotion but I was told the offer will change and will be tailored to each person.

River Island x ReSkinned (£5 voucher)

This scheme requires you to send at least three items via courier to Reskinned. In return you’ll get a £5 voucher to use on purchases over £40 at River Island stores. They’re only valid for one month from issue, so don’t forget to use them.

Schuh “Sell Your Soles” scheme (£5 voucher)

You can get a £5 voucher to use at Schuh for every pair of shoes you donate. The shoes are donated to Recyclatex with around 98% of materials reused.

You can use your voucher online or in-store on full price items over £25.

John Lewis “Fashion Cycle” (£5 voucher)

Take five items of clothing into any John Lewis store as part of their FashionCycle scheme and you’ll get £5 off Fashion Rental, with a minimum spend of £50. They’ll accept shirts, t-shirts, jumpers, cardigans, jackets, coats, shorts, trousers, jeans, childrenswear, dresses, jumpsuits, skirts and school uniform.

You need to be a member of the free My John Lewis scheme and note that the voucher is only redeemable during the month.

The best deals

Find our picks of the best offers in our dedicated deals library

George (10% off)

You can box or bag up 10 or more unwanted clothes and textiles and donate them at Asda. In exchange, you’ll get a 10% off code to use at George .com.

There are limits on the parcel size (50cm x 30cm x 30cm) and it can’t weigh more than 10kg. You’ll need to check if your local store is participating.

Donate to Cancer Research UK via TK Maxx (no voucher)

You can take a bag of unwanted clothes to TK Maxx who will pass it on to Cancer Research to sell or recycle. Cancer Research UK will keep all the proceeds.

Donate to Zara (no voucher)

Zara will also take unwanted clothes that will be donated to those in need or sold by charitable organisations to raise funds. There’s no voucher for you if you do this.

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September 22, 2024   |   Articles

Regular savings accounts explained: Are they worth it?

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How you can save every month for a higher rate.

I’m a huge fan of monthly or regular savings accounts. They’re great for people putting money aside every month, and they also tend to have some of the highest interest rates! You can get up to 8% via these accounts – far above the best options elsewhere.

But these monthly savers are often misunderstood, especially when it comes to the amount of interest you’ll earn. So here’s an explainer to make sure you know how they work.

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

What is a regular savings account?

A regular savings account is designed for people saving some of their income every month rather than depositing a lump sum. Hence the name. Usually this transfer is made by a direct debit, set up when you open the account.

I’m a big fan as they encourage you to save a set amount every month, rather than ad hoc amounts as and when you have spare money.

How regular savers work

Often there are limits and restrictions, though this can vary depending on the account.

You’re limited to how much you can save in them

You can typically only deposit between £50 to £500 every month, with most actually having a cap of around £200.

You might also have to pay in a minimum each month, though that might not be much – usually £25 or £50.

The account normally closes after 12 months

The vast majority of regular saver accounts (Natwest/RBS’s option is the main exception) last for just one year. Once the year is up you’ll be paid the interest and the account is closed with your money moved to a lower paying easy-access account.

Rates can be fixed or variable

Unlike most other types of savings account, you’ll find some could change during the time you have them, while others are fixed.

During this time of likely base rate cuts, a fixed rate account is a good option, and worth tying in while you can.

Withdrawals can be limited

Some regular savers don’t allow withdrawals until the year is up, or have extra limits on them such as just two a year. If you do take money out, you might not be able to add it back in for that month.

The best accounts require current accounts

The highest paying regular savers are usually restricted to existing customers of the bank. Though you should be able to easily open a new current account with those banks to be eligible, there might be better paying options at other banks, for example a monthly reward or cashback. There are also a handful of loyalty savers via building societies that require you to have been a member on a certain date.

How interest is calculated

The main area people get confused about is the interest rate. For this example, let’s use an interest rate of 5%.

If you save £250 a month into the account, and therefore have £3,000 saved by the end of the year, you might expect to get 5% on that £3,000 – a total of £150.

However you don’t have £3,000 for the full year – you’re adding money incrementally. This means you’ll only earn interest on the cash held each month. So the first £250 will have been saved for 12 months and earn the full 5% – a figure of £12.50 over the year

In turn, the second £250 saved will only be in the account for 11 months. So you’ll earn 11 twelfths of 5% on £250 – which works out as roughly £11.45 of interest.

The next £250 will be 10 twelfths, the next one 9 twelfths and so on. If you miss a month or pay less in that month, then that’ll also affect your earnings. If carried on you paying in the maximum every month, you’d earn £81 after a year.

If you calculated this £81 return on the total £3,000 balance it’s effectively 2.7% – just over half the advertised rate. This is why people get angry. But you are still earning that headline money on your monthly deposits.

And that “50% of the headline rate” is a handy shortcut if you want to find out how much you’ll make based on the annual balance saved. For a more accurate figure, you can use the calculator on Money Saving Expert.

How much could you make?

Here are the top paying accounts at the time of writing, and the interest in the first year if you deposit the maximum amount allowed at the start of the month.

BankRateMonthly limitMax interest in 12 monthsRequirement?
Principality Building Society (six months only)8%£200£27*No
Progressive Building Society7%£300£135No
First Direct7%£300£135Current account
HSBC7%£250£114Current account
Nationwide6.5%£200£84Current account
Club Lloyds 6.25%£400£161Current account
Natwest6.17%£150£60**Current account
RBS6.17%£150£60**Current account
Halifax5.5%£250£89No
* Interest for 6 months only
** Carries on after 1 year but only paid on the first £5,000

Regular savings hacks

These regular savings accounts aren’t just for people building up a new savings pot. You can funnel other, lower-paid savings, into these accounts.

Drip feeding your savings

If you’ve got a small lump sum you can gradually move money from one account into a regular savings account.

Say you have £3,000 already. The first thing to do is move it to the highest-paying account or accounts you can find.

For the example here let’s assume it’s all in an easy-access account earning 4.8%. In a year this would earn you £144 of interest.

But if you then move it month by month (at £250 a time) to a regular saver account paying 7% you would earn a combined total of £180 in interest (£113 from the regular saver and £67 from easy access account). That’s £36 more than if you’d left it in the easy-access account.

However, this might not be too different from putting the cash in a one year fix. For example, one that paying 5% would earn £150. Here’s more on drip feeding vs fixes.

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Using multiple regular savers for larger savings

You’re not limited to just one regular saver, so you can use the same trick as above to drip-feed deposits if you have a larger stash.

For example, at the time of writing, you could pay a total of £1,000 each month into four accounts that earn above 7%.

Are regular savers worth it?

Andy’s Analysis

If you want an account that pushes you to save every month, earns decent interest and sometimes make it harder for you to access the money for a year then they can’t be beaten.

And as they’re offering some of the best rates on any kind of account, you’ll also likely be earning the most money you can. The fact that some are fixed also means you’re locking in a decent rate when they’re likely to fall elsewhere.

But, many of these high-paying ones do require a current account. Though there’s no reason you can’t open up more accounts to get these offers, it’s worth considering if you’ll make more money by switching bank instead. Plus bear in mind you’ll be credit checked to open those current accounts.

The best regular savings accounts

Right now those with current accounts get up to 10.38%, and with no restrictions up to 7%. Check out our regularly updated list of what’s on offer.

It’s always worth trying your local building societies too as they may have higher rates that are only accessible if you live locally.

The best monthly savings accounts

Check out our list of the highest paying regular or monthly savings accounts.

However, it doesn’t make sense to have a regular saver paying less than the best easy-access accounts, while lump sums might be better off in a fixed-rate bond. We’ve listed the highest paying ones in our savings best buy tables.

The best savings accounts

Check out our list of the highest paying regular, easy-access, fixed and ethical savings accounts

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September 3, 2024   |   Articles

Club Pret review: is it still worth it?

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Pret no longer offers five coffees a day with the subscription

Club Pret is Pret’s subscription service. It used to offer five drinks a day for £30, but has been given an overhaul, and ultimately downgraded, instead offering half-price drinks for a fiver a month. 

Here’s what you need to know about Club Pret, including how many coffees you’ll need to drink each month before you start saving money.

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

Text saying "Club Pret" with a cup of coffee

How Club Pret works

Club Pret gives you five half-price drinks for a monthly fee. You need to sign up in the app or on its website, including entering your payment details. Once you’ve done that, you’ll get a QR code in its app and by email.  

When you’re in Pret you order as normal and scan your QR code to get the discount. You can use it five times each day with at least a 30-minute gap between each one, to stop you from sharing the discount with your friends. 

There are a few locations where the discount can’t be used — mainly service stations and some in Ireland.

If you already had the old subscription

If you previously had the subscription then you’ll be moved to this one on your next billing date after 2 September, so you may have been moved to it already. You’ll need to cancel before your September billing date if you don’t want the new membership.

How much is Pret’s subscription? 

Club Pret costs £10 a month, although it’s being launched at £5 per month until 21 March 2025. The start of each month is determined by the date you sign up, so if you sign up on 10 May, your next month begins on 10 June.

You’ll be charged for the next month on the last day of the current month. So, in the above example, you’d be charged on the 9 of every month.

There’s no minimum subscription term, so you can cancel at any time. You’ll get the full month regardless of when you cancel so it makes sense to not leave it too late, just in case you forget.

Drinks included in Club Pret

As long as it’s a drink ordered over the counter and prepared by a barista (not a premade one in the fridge) then you’ll get the discount on it. This includes coffee, tea, hot chocolate, iced coffees and Pret Cooler Lemonades. Milk alternatives and syrups are included, too.

How much could you save?

For our calculations, a latte, flat white or mocha costs £4.05, tea is £3.30 and iced drinks are around £4. The cooler lemonades are £4.20.

 If you order a single £4.05 coffee every weekday, you’ll have roughly 22 coffees a month. This would usually cost you £89.10, but would be as little as £49.55 including the £5 membership fee. When Club Pret costs £10 per month, it’ll be £54.55. 

If you pay £5 per month for Club Pret from 1 October until 31 March (6 months) and taking into account annual leave, sick leave and bank holidays (so roughly 110 days), you’d potentially save £192.75. 

 If you go to the office three days per week and get a coffee each time, you’ll save £19.30 each month.

Minimum orders to break even

At £5 per month and with a latte costing £4.05, you need to have as many as three coffees each month before you start saving money. When the membership moves to £10 per month, it’ll take five coffees to break even. 

Do you get discounts on food with Club Pret?

Previously, Club Pret subscribers got an additional 20% discount on all menu items – including sandwiches, hot food, soft drinks and crisps, as well as additional hot drinks. This isn’t offered with the new subscription.

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Is Club Pret worth it?

Zoe’s analysis

At first, it’s definitely not got as much appeal as its previous “unlimited” but more expensive iteration. However, it could still save you cash, and may even work out better for more casual Pret customers.

If you reckon you buy at least three drinks each month at Pret, it’s probably worthwhile to get the membership. Once the membership goes up to £10 per month, you’ll need at least five every month to start saving money — still a good deal, but only if you know you’ll drink there.

There are downsides — you have to stick to Pret. Don’t let Starbucks’ new syrups tempt you away. And if you tend to get tempted to grab a pastry or sandwich that you wouldn’t otherwise buy, you’re not saving money.

Alternatives to Club Pret

If you’re missing Pret’s original subscription then you could go for Leon’s newly launched subscription that gets you five coffees a day for £25 each month.

Or you can sign up for other coffee shop loyalty schemes which can offer stamps to earn a free drink or other discounts. You might even get free coffee with other memberships or services without even realising it.

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