save money tips

Last week, I wrote about the new Save Smarter tool from Aviva, and shared how it can help you to become a better saver.

I know from personal experience that saving can be hard. And scary. Especially when you’re a single parent – because it really does all come down to you. There’s no buffer.

People have all sorts of emotions tied up in money – we feel guilty for spending it, ashamed if we don’t have enough, embarrassed if it looks as though we have too much.

Those emotions stop us from really taking a long, hard look at our finances and saying, “Okay, this is where I am now. This is where I want to be. And here’s how I’m going to get there.” 

But I figure if I can do it, anyone can. Seriously.

Long story short: I graduated in my 20s and worked in London as a journalist. I saved regularly and I was able to buy a flat within a few years. I moved in with my boyfriend and we used my savings to pay a deposit on a shared house. For a few years, everything went pretty much exactly to plan.

Then “stuff” happened.

We got married – I used the last of my savings to pay for a big wedding. I used a credit card to pay for the honeymoon. I had a baby (hurrah!) and started working part-time, meaning a big drop in income (not so hurrah!)

At that point, it turned out that not only did my husband have no savings, he also had huge credit card debt. We were strapped for cash, with a bunch of debts, no savings, massive expenses, and a new baby.

When we divorced a year later (not because of financial stress, but it certainly didn’t help) I found myself £60,000 in debt.

I got a mortgage for a new house, but the rate wasn’t especially competitive. And big debt is terrifying – it keeps you awake at night, and stops you from answering the phone, because it’s only going to be someone asking for money you don’t have.

It took six years, but eventually I cleared my debt. Here I’m sharing some of my top tips to save money and clear debt:

1. Do a money audit

Because money is so emotionally fraught, many of us just don’t look at it properly. For me, the turning point was adding up everything I owed, marking the interest rates so I knew which debt was costing most.

I had one spreadsheet detailing everything I owed, and another detailing everything I earned, month by month. It’s good to see everything in black and white, and seeing your debt shrink month by month is pretty great.

2. Talk to People

If you’re in trouble with money, there’s loads of advice available. At the very least, call companies you are behind with, and ask them to freeze accounts while you catch up. Ask your bank to suspend your direct debits so you’re not racking up more  charges.

3. Live within your Means

During my 20s, life was lived on an Amex. During my 30s, I lived on what I had (mostly because Amex took the card back). When I wrote my car off, I took the bus for as long it took me to save for a new car.

Above all, resist the temptation to roll all your debts into a new loan or overdraft. That way madness lies. Not to mention even bigger debt.

4. Monetise your Skills

Clearing debt means maximising your income as well as reducing spending. I also looked at the skills I had as a freelance journalist, and monetised them in different ways (I also sold everything that wasn’t nailed down on eBay).

I could write – so I became a writing coach for PR agencies, training up new recruits. I worked direct with businesses, and wrote press releases, customer newsletters, case studies and the like. I could type, so I transcribed committee meetings for a chartered organisation. Little extras, and they all added up.

5. Complain to Save

I’m pathologically British. If something breaks, or doesn’t work, then my instinct is to apologise. Clearly, I must have done something wrong.

But that doesn’t work if you want to save cash. When I was clearing my debt, I queried every parking ticket (and won, 50% of the time). I asked for refunds when computers broke, or when parcels I sent on an urgent service arrived late. If clothes got worn through after two weeks, I sent them back and asked for replacements or refunds. I even complained about bank charges and managed to claw back over £4,000 all told.

6. Check your Bank Statements

This one is really important if you’re a money-phobe like me. Because mistakes DO happen and if you don’t look at your bank statements, you’ll never know.

One year, I discovered I was being charged for Flea’s karate classes, a year after she’d quit the class – we complained and the bank refunded us £400 on the spot. I’ve also accidentally subscribed to Amazon Prime more than once, and requested a refund after spotting the charge on my statement.

7. Set Saving Goals

When I was broke, I had a plan to pay off debt. Now I’m less broke, I have a savings plan. This is a chart that sets out the things I want to save for in the short-term (school fees, travel), medium-term (university) and long-term (don’t die in poverty and be eaten by cats).

Having concrete plans written down makes saving a bit easier because in my head, I know it’s for something I find important. And it also informs how I save – which is that a fixed amount is transferred out of my account each month and split into about four different sorts of investment or savings account, each with a shorter or longer-term focus.


I’ll be honest – I still find money anxiety-inducing.

I still prefer not to think about it. I definitely still flinch when a brown envelope drops through the door. It’s a reflex, at this point.

But hopefully, I’ve done enough to avoid the dying-in-poverty and being catfood scenario…that feels like a win.

What are your top tips for saving cash? I’d love to hear them in the comments.

This post is sponsored by Aviva UK. All words and thoughts are my own. Check out the Save Smarter tool for insight into your financial style and tips on how to save smarter.