Londoners are the UK’s most Frugal Savers

Londoners are the most dedicated savers in the UK, according to a new survey. But despite going to great lengths to save money on a daily basis, they believe they are saving less than £10.

New research from energy-switching service The Labrador has revealed the extreme measures that savers go to in an effort to avoid spending money.

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These include stocking up on free condiments from cafes and restaurants, turning off all appliances before leaving the house, and reusing washing-up water to water the garden.

However, Londoners go even further than most, with 46 per cent putting on extra layers so they don’t have to turn on the heating, 20 per cent using their office or gym showers to reduce their utility bills, and a further 20 per cent stealing office supplies to use at home.

A surprising 16 per cent of Londoners admit to washing their clothes while they shower, while 15 per cent allow their friends to perform regular beauty treatments.

Despite these money-saving measures, more than half (55 per cent) of the UK think that they are saving less than £10 per year. The Labrador has estimated the actual annual saving to be just £14.

“The money saving measures revealed in this survey – as imaginative as they are – require a huge amount of time and effort just to save a few pounds,” said Jane Lucy, chief executive of The Labrador. “It’s clearly time to switch how we save.”

Lucy added that households could save even more money by switching to a different energy provider.

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Kathryn Gaw

Kathryn Gaw is a financial journalist based in Belfast, Northern Ireland. She has been writing about personal finance and investment trends for more than a decade, and her work has been featured in the Financial Times, City A.M., the Press Association, and The Irish Independent, among many other publications.

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