Energy meter readings, incognito holidays, multibuys and other money-saving tips that might not work

Bargain or blunder? We’ve rounded up popular money-saving tips that can often backfire – and reveal how to stay one step ahead.

We all love a money-saving trick.

Whether it’s slashing energy bills, finding cheaper holidays or spotting a bargain, the internet is full of tips promising to save you cash.

Sadly, not all these deals deliver on their promises. In fact, some can even leave you worse off than you were before.

In this article, we explore five common money-saving tips that could prove to be a false economy, if not used correctly.

Opinion: 7 money rip-offs that need to end

1. Providing energy meter readings before a price change

With ongoing geopolitical uncertainty in the Middle East, energy prices are, of course, a major concern for many of us.

Since 1 July, however, the Energy Price Cap is set to fall by approximately 7%, cutting the average dual fuel bill by roughly £129 per year.

Overall, this means average annual energy costs of approximately £1,720 for the typical household.

Ahead of this change, many commentators have urged households on the Standard Variable Tariff who don't own a smart meter to submit a reading around this time.

It's true that this will save you money if your energy supplier has overestimated your usage up to this point – because you'll be charged for less energy at the current, higher rate.

However, if your usage has been underestimated, your bill will actually go up. That’s because the corrected reading will show you used more than previously thought at the higher, pre-July rate.

This point is often not clearly explained, with many financial pundits selling it as a guaranteed win. The reality is that it might save you money, but it could also cost you more.

If you do plan to send a reading, it’s always a good idea to take a photo of your meter to protect yourself against future disputes.

In truth, this isn't a particularly good savings tip as even if you do save, you'll likely only be a few quid better off. 

If you are on the standard tariff, you could save far more by locking into a fixed-rate energy tariff: price comparison site Uswitch puts the savings at around £200 a year for a typical household.

We’ve teamed up with Uswitch to help you easily find a deal here, but any price comparison site will help you save if you’re currently on the costly standard tariff.

Visit the loveMONEY energy hub page for more help cutting your bills

2. Booking holidays using in-private/incognito browsing

You’ve probably heard that booking holidays or flights in a private or incognito browsing window prevents websites from tracking your searches and hiking prices.

In reality, things are a little more complicated.

Travel sites mostly base their prices on demand, timing and availability, not your browsing history.

Although using private browsing or clearing cookies won’t hurt, you can’t always expect this technique to save you big.

Instead, it's a good idea to focus on comparing prices across multiple sites.

3. Multibuy discounts

Multibuy deals such as “three-for-two” or “buy-one-get-one-free” often seem like a no-brainer.

However, buying more than you need isn’t always your best bet.

If you don’t use all the items before they go off, you’ve wasted money, not saved it.

In reality, these deals work best for products you regularly use and that have a long shelf life.

Otherwise, it’s better to buy only what you need and avoid cluttering your home – or worse, throwing food away.

Online shopping tips 2025: get deals, discounts, free gifts & more

4. Cheap vs quality: buying cheap often costs more

You'll no doubt be familiar with the phrase 'buy cheap, buy twice'.

Spending less upfront on a low-quality item often feels like a win, but if it breaks or wears out quickly, you’ll end up replacing it – and spending more in the long run.

This applies to everything from clothes and shoes to electronics and home appliances.

Whenever possible, choose products with good reviews, solid warranties and proven durability.

In these cases, paying a bit more upfront often saves money and hassle later.

The bottom line

The best way to save money is to be sceptical of “too good to be true” tricks and focus on practical steps that make a real difference.

This way, you can make sure your bills are accurate, that you're spending wisely, and buying quality where it counts.