This post is one of the early posts for Mrs Mummypenny. It was written during a time when money was very tight. I was living off redundancy money from my previous job and I needed to cut costs to ensure this money lasted as long as possible. At the time Mrs Mummypenny wasn’t earning very much money at all! And I didnt quite know at the time but I was soon to build up a big 16k chunk of debt. Despite the savings I was making.
This is an area that a lot of people are searching for on Google. This is one of my most popular posts with more than 20,000 people reading it. I hope that you enjoy it and take some tips away to help you save thousands as well.
How I saved £7500 in 6 months
I know how to save money on all aspects of life. From bills, to shopping and to big ticket items. I will negotiate and will shop around to save a few extra pounds. These savings will then be used to splurge on things like a holiday to Las Vegas or a really nice meal out. Life is about balance. I think it’s great to save up for something special as a treat and also to save for the future. (Hence written before I built up a big chunk of debt!)
Switching Food Shopping from Tesco to Aldi
Back in January 2016, I was selected to join the Aldi wine club. I got to taste 2 wines every few weeks and tweet a review. This prompted me to explore the shopping at Aldi leading to huge amount of savings of food. I had been shopping at Tesco my entire adult life. This was a big shift for me.
I was spending £120 per week at Tesco with a bit of top up at Co-op. I now spend £80 per week at Aldi with little top ups if needed.
£50 saving for 26 weeks = £1,300
Saving Money on My Energy
I do a comparison and switch my energy every year. But this year the comparison sites best deal was an increase of £14 per month compared to my existing. I spoke to Octopus my current provider who were able to offer a £13 reduction on this price. My bills are now £92 per month for a 4 bedroom semi detached house. See if you can get a great deal and save money by checking here. And also get £50 credit to your bill if you sign up!
£13 saving per month for 6 months = £78
Las Vegas Holiday
Our April Holiday to Las Vegas booked through Expedia via TopCashBack. If we had booked this through a high street travel agent it would have been a lot more.
We paid £2,200 rather than the £3,200 quoted at said high street travel agent. Plus I got an additional 5.25% £115 cash back via TopCashBack.
Total Holiday Saving = £1,050
Car/Travel/House Insurance Renewal
All our annual insurances renew in March and April. The renewal quotes came in at £400 for the car insurance, £200 for the house insurance and £60 for the annual travel insurance. I compared the markets for each type of insurance using the TopCashBack comparison engine which not only gave me the cheapest insurance but also a chunk of cash back too.
I checked a few of the recommendations out and end up getting the car insurance for £200 after £60 cash back and saved an additional £40 on house insurance and £10 on travel insurance.
Total Insurance saving = £250
Warning statement before reading this paragraph. I am including this to complete the £7500 total, but I do not recommend it. Be warned with this one, do not do it if you have addictive personality. The golden rule is never to place bets with a risk of losing the money. I did, read this post where I talk about what happened.
Matched betting is making a profit out of the huge volume of free bets the betting companies offer to entice you into their sparkly world of gambling. I did this for 2 months leading up to our Las Vegas holiday and made a tax free/risk free profit of £2,000.
Total Matched Betting Profit = £2,000
Giving Budget Make-Up a go
I love finding a budget beauty buy in Poundland or Aldi and have been trying quite a few Aldi Lacura items. I love their eye liner, mascara, and age defying 3-minute mask. A snip compared the normal Bobbi Brown make up I have bought in the past. I now buy budget beauty products. I filmed 2 videos of my Aldi skin care test before and after. See what you think my skin looks like after using the budget products.
Make Up Savings = £250
Currency for Holidays
The best place consistently for getting currency is the travel shop in Debenhams. Compared to places like the post office or super markets you get a better deal here. I saved around £100 with our dollars purchase for April holiday and Euro purchase for Summer Hols.
Currency Exchange Saving = £100
Back in January I commenced a series of life coaching sessions with my hypnotherapy friend Heather. She had recently trained in life coaching and needed a couple of case study guinea pigs to practice on before launching it as a service. I was the guinea pig so was VERY lucky to receive a series of life coaching sessions from Jan to March worth £1000.
Life Coaching Saving = £1000
Family & Network Rail Card
I got one of these in January as we do a lot of driving to football in Cambridge with the boys. This gave us the option to get the train. Nice in the warmer months. Plus any trips with the family into London cost a lot less with the rail card and when I travel into London after 10 am I save during the week. Over the 6 months we have saved maybe £200 in rail fares. At a cost of £30, I love this savings card.
Rail Card Saving = £200
I love to enter a competition, I normally enter one a day. As you never know when you will eventually win. Hopefully the big prizes…New York holiday pretty please let me win 🙂 So far this year I have won a Moonpig stationery bundle, earrings and Amazon vouchers.
Prize value = £250
Again more of money made rather than money saved but so far this year I have earned around £100 plus a few free products from a few Asda, Tesco, Co-op, bank mystery shopping gigs.
If you are interested in this great money making idea I recommend Pro Insight as a great company to sign up to.
Mystery Shopping Income + Products = £250
Top Cash Back
I use TopCashBack for all online purchases and have received various bits of cash back for things like a flower delivery, ugg boots, Dominos pizza. Get an account and start saving, again if you use this link I will get a small referral fee. I have made £2500 in 5 years of having my account.
Cashback Received = £250
Mobile Phone, Broadband and Sky TV savings
I get a friends and family discount on my mobile for life as I worked at EE. This saves me £15 per month. I have a friends and family discount at Sky which saves us £35 per month. And I have had to make around 10 customer service complaints about BT, for which I have received refunds/credit of £150.
Mobile/BB/Sky savings = £450
Total Saving of £7,415
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For lots more money making ideas check out this article from Careful Cents.