Mum saves £650 on her daily shopping by doubling down – ‘that will pay for Christmas’ | Personal Finance | Finance

You’re getting creative with both your spending and your savings, and you’re reaping the rewards. She now shares her advice with the hope that readers can also get more bang for her buck.

Amy James is fighting back as her energy bills top £500 a month, and all the other bills in her household rise as well.

“We are increasing payments and direct debits on our utility bills to make sure we have a cushion for the colder months,” says Amy, 33, who lives in Barry, South Wales, with her partner and their daughter. two years old

They have been forced to reduce the amount they pay into their savings account each month, but they hope to get this right later when things get easier.

“We’re focusing a lot on our grocery store budget, using deals and deals and making some tactical changes to cheaper brands.”

Most of the time you shop at Sainsbury’s and collect Nectar points. “This year I will be raising around £325 to spend through Nectar. I’ll save most of that for when Sainsbury’s offers its double week of nectar, usually in November, when they’ll be worth £650.

“That money will go towards gifts, Christmas food store and other household items that we may need.

Amy has opened a number of bank accounts and is taking advantage of the incentives on offer. “Last month I earned £140 through Chase Bank’s friend referral campaign, after bringing seven new customers to the bank for a referral of £20 each.”

He has also made over £1,500 by switching current accounts over the years, taking advantage of up-front switching incentives.

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Banks including Santander, First Direct, HSBC and Halifax have offered exchange incentives of up to £175 to new customers this year.

Through her job, Amy is lucky enough to have access to the Reward Gateway employee engagement site, which offers discounts and cash back on expenses. “I have saved £900 using the platform in the last two years.”

She’s also using an offer from the Hello Fresh meal box service, which has given her five weeks’ worth of meals for around £80. “I’m also passing on the referral options so the family have also enjoyed completely free meal boxes.”

The site also has offers for other subscriptions like bottles of wine. “Usually it works out around £4 a bottle or less. Perfect if you like wine yourself or to save up for gifts.”

READ MORE: Britons can save up to £12,000 on energy bills in five years

Saving money is vital, as Legal & General’s latest Deadline to Breadline report has found that the financial resilience of UK households has shrunk by more than a fifth in recent years.

The average household would now be able to finance basic living costs such as housing costs, debt payments, utility bills and food for just 19 days if they lost their income, compared to 24 in 2020.

Cutbacks have become the norm, but the UK’s poorest five million workers don’t have a financial safety net in case they lose their pay, said Bernie Hickman, chief executive of Legal & General Retail.

“The cost of living crisis is squeezing the pockets of people across the country, leaving households of all shapes and sizes with financial worries.”

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Hickman urged people to take advantage of free financial counseling available, including free services like money helperbefore the fall squeeze.

Legal & General’s Rewirement podcast can also help listeners plan for their financial future in these challenging times, he said.