Top money-saving tips and tricks parents are passing on to their children

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “Setting a regular ‘pay day’ and ‘challenges’ for pocket money are great ways to challenge young people to complete tasks in order to receive their earnings.” The study also found 12 per cent have told kids the supermarket “secret” of shopping at late hours to pick up discounted products. A spokesperson for Revolut, added: “Our survey revealed cashback services are one of the most popular ways to save money, which 28 per cent of mums use. “If the young teens of Britain take half of these tips to heart, they’ll be set up on a really strong footing for the rest of their lives.” 25 money-saving tips Mums are passing down: 1) Using discounts 2) Having the heating on less 3) Saving little and often – e.g. a pound a week 4) Cutting back on meals out and takeaways and cooking at home more often 5) Unplug everything at home when not in use 6) Cycling/walking over taking the car 7) Moving money into savings on payday 8) Using cashback services 9) Rounding up spare change for your savings 10) Mending clothes rather than buying new ones 11) Buying a second hand car instead of a new one 12) Using different accounts to create money pots for different things you might want to save for 13) Checking your account balance everyday 14) Buying in bulk 15) Shop at late hours to get discounts 16) Don’t always flush the toilet 17) Not spending one day of the week 18) Making small payments via credit card and paying it off straight away 19) Wash glasses first to save on changing water when washing up 20) Transferring money to someone else’s account so you can’t spend it 21) Go at least a year without buying clothes or shoes 22) Cut your own hair 23) Get condiments from fast-food restaurants 24) Reuse tea bags 25) Turn off your car engine at red lights