Money saving tips: Savvy saver slashes costs by £804 in just 15 minutes | Personal Finance | Finance

Reducing costs on regular expenses is something which mum-of-two Alice Matthews has managed to do recently, and the savings are substantial. Ms Matthews, who is known as @MotherHusterUK to her 13,800 Instagram followers, was set the challenge of trying to save money within just 15 minutes.

The task, which was set by MoneySuperMarket as part of their Financial Fitness campaign, involved Ms Matthews investigating how much money she could save using the price comparison website during the timeframe.

From switching energy suppliers to altering mobile phone contracts, Ms Matthews soon found herself with substantially slimming her spending.

“I managed to switch both my energy supplier and car insurance provider, saving £400 and £249 respectively,” she said.

“I then changed my annual travel policy for a cheaper, one-off policy to cover a single holiday – saving £35 – and switched my phone contract – saving £120 a year.

READ MORE: How Britons can switch current account hassle-free

“All in all, I saved a total of £804 on my household bills – not bad for 15 minutes.”

So, what impact did the result have on this saver?

“The savings I’ve made mean a lot,” she exclusively told Express.co.uk.

“This year has been a tough year for everyone, so to be able to save over £800 on my household bills is a real result.

“It makes paying the monthly bills that little bit easier and it also gives me a great sense of money calm to know that I’m not overpaying.”

Having cut the substantial amount on regular costs, Ms Matthews went on to share some money saving suggestions.

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“My big tip is to be vigilant about your existing contracts and shop around,” she said.

“For example, if you’ve been with your phone or energy provider for a while, it’s likely you’re spending more than you should be.

“As I found with MoneySuperMarket’s challenge, switching a provider doesn’t take long at all.”

However, that’s not the only way in which Mother Hustler has managed to make money go further.

“In terms of more day to day changes,” she continued, “I’ve saved money by switching to a cheaper supermarket and doing batch-cooking.”

Saving money is something which many Britons have reported being able to do this year, amid the UK lockdown.

According to new research of British spending habits by MoneySuperMarket, more than three quarters (77 percent) of Brits have been able to save money during the lockdown.

While the average amount saved by Britons is £477, those in certain parts of the UK have saved more – and others less.

Research suggests people in London saved the most – with the average amount saved in this region being £664.

Average savings in Yorkshire and the Humber was the second highest compared to the rest of the UK, with research finding this stood at £512.

Claudia Nicholls, commercial director for money at MoneySuperMarket, commented: “What our research shows is that, for some, lockdown has presented an unexpected opportunity to save money that would have, in many cases, otherwise been spent on expensive commutes or childcare.

“It’s particularly cheering to see how Brits have channelled their world-renowned resilience and resourcefulness into great money saving hacks under lockdown by selling things online, cutting their own hair and baking their own bread. And it’s clear that some of these hacks are here to stay.

“What this shows that if you’re worried about your finances there are a whole range of things you can do to try and improve your situation. Even by just shopping at a cheaper supermarket or growing your own vegetables, you can save a decent amount.

“If you have been fortunate enough to be able to save, you should make sure you’re getting the most of your savings by monitoring your rates, keep an eye on the highest-paying accounts, and be willing to switch frequently and quickly.

“You may also be able to consolidate existing debts by taking out a zero percent balance transfer credit card – just make sure you take an eligibility test so you’re confident you can get the card of your choosing.

“It’s also crucial that you pay the minimum repayment each month and pay any debt off before the zero percent interest period ends.”

“You could also get on top of your household bills. If your energy bills feel high, look at switching your energy provider – if you haven’t switched for a while, you could save £290.”





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