The start of a new year is the perfect time to take control of your personal finances, and 2026 is no exception. The encouraging news from leading UK money experts is that with the right strategies, anyone can boost their savings and income. The Mirror has compiled 26 actionable tactics for the year ahead, with some surprising insights that could make a significant difference to your financial health.
Smart Spending and Saving Strategies
Helen Dewdney, the consumer specialist behind The Complaining Cow, emphasises that many people lose out by not negotiating. "Most places are more open to haggling than you might imagine," she advises, suggesting you could ask for an added item rather than just a price cut. She also urges consumers to make effective complaints under the Consumer Rights Act 2015 to secure refunds or repairs for faulty goods.
For day-to-day budgeting, experts recommend psychological tricks to curb spending. Therapist Vic Paterson suggests creating 'emotional spending speed bumps', such as naming bank savings pots with stark labels like 'Stop Tiddles Dying Cash' to deter impulse buys. Meanwhile, the team at Finansvalp advises withdrawing your budget in cash or using a dedicated debit card to heighten awareness of every pound spent.
Polly Arrowsmith, an investment advocate, stresses that 2026 should be the year to get to grips with investing. "Learning financial literacy is like learning to drive a car," she says, recommending Andrew Craig's book 'How to Own the World' as a starting point.
Boost Your Income with Side Hustles
Several methods can generate extra cash with minimal effort. The app YouSpotProperty offers users the chance to earn up to £10,000 for spotting derelict properties suitable for development, starting with a £20 voucher for a successful flag. If you have space at home, hosting a lodger could bring in an extra £7,500 tax-free annually, while renting out your driveway or car during idle periods can provide a steady stream of income.
Decluttering is another lucrative avenue. Polly Arrowsmith reportedly makes over £4,000 a year selling items on Vinted by listing daily and dispatching quickly. For those with a competitive streak, entering competitions can pay off handsomely; blogger Di Coke won prizes worth £35,000 in 2021 through consistent effort.
Kathy Cakebread champions the 'sharing economy', recommending platforms like Fat Llama to borrow items from power tools to drones, or to earn money by renting out your own belongings.
Essential Financial Housekeeping
Experts highlight several areas where people commonly miss out on free money or better rates. Millions are missing out on government boosts, such as the 25% bonus on a Lifetime ISA for those aged 18-39, or the Help to Save account which adds 50p for every £1 saved by those on certain benefits.
With an estimated £31 billion sitting in lost pension pots, tracking down forgotten savings is crucial. The free Pension Tracing Service can help locate these funds. For current savings, if you're not earning 8% interest, you're likely missing out; providers like Principality Building Society and Yorkshire Bank offer such rates on regular saver accounts, though it's wise to switch annually as these are often introductory offers.
Banking specialists recommend booking a free financial health check with major banks like Lloyds, HSBC, and NatWest to review your accounts and loans. A direct debit detox, including cancelling your TV licence if you only watch on-demand services like Netflix, could save around £200 a year, as suggested by Martin Lewis.
Finally, for a midlife financial review, the government-backed website midlife-mot.moneyhelper.org.uk offers a free tool for those aged 45-65 to evaluate their financial standing and focus on key areas for improvement in 2026.
