Louise Shacklady, a 47-year-old fitness instructor from the UK, managed to save nearly £15,000 over the past year from her and her husband’s joint earnings of around £75,000 annually. Her secret lies in being savvy about shopping and household bills, never living beyond her means, and avoiding credit card debt.
Negotiating Contracts and Shopping Around
One key tactic for Shacklady is never accepting auto-renewal prices. She saved up to £100 a year just by renegotiating her Sky contract alone. “I'll never just accept at the end of a contract that the prices are going up, I'll always ring up and try and negotiate with them. Some years, it can be over £100 a year easily,” she said. With multiple products like broadband, Sky Sports, Multiroom, and telephone, she finds more wiggle room to negotiate, as providers see her as a valuable customer.
If renegotiation fails, she shops around for everything from insurance to toiletries using comparison sites. She stocks up on favourite products when they are on offer, never buying them at full price, and plans her meals rigorously to buy only what she needs from about five or six different supermarkets.
Home Efficiency and Extra Income
Shacklady is also conscious at home: she uses the dishwasher and washing machine only when full, never overfills the kettle, rarely takes baths, and is mindful of water usage when washing up. “You're probably thinking, oh god, is it worth it? But it soon does all add up,” she noted.
Her basic rule is to live within her means and never spend more than she earns. Her only debt is her mortgage, which she has nearly paid off. “I never buy things if I haven't got the money, I won't get into credit card debt. I make sure my income exceeds my outgoings,” she said.
To boost income, she does online surveys, earning around £1,000 a year, and works just one extra hour per week to make an extra £1,125 per year.
Points Schemes and High-Interest Savings
Shacklady takes advantage of points schemes like Shoppix, which collects points on receipts for vouchers, and loyalty cards at Boots, M&S, and Shell garage. She also moves bank accounts to benefit from interest rates and welcome bonuses, opting for Cash ISAs or high-interest short-term fixed-rate monthly savings accounts. “I've taken advantage of the switching service where they offer £100 or £200. I've probably done that at least four times. That is a bit of a hassle, but it's an easy way to make money,” she said.
She has never given her three children pocket money. One now works full-time, one is doing A-levels, and one is at university. Even when younger, they had to wait for birthdays and Christmas for new trainers or save up. “I'm sure in comparison to some of their mates, they probably think they're a little bit hard done to. I would say, if you're brought up spoilt and given everything on a plate, where's your work ethic? Where's your drive to do well in life? I have to say, all three of them are incredibly sensible with money. They're all real savers, they're not frivolous with money, so I think I've actually helped them,” she reflected.
Holidays and Long-Term Goals
Despite cutbacks, Shacklady went on two holidays in the past year to Curacao and Mauritius, tied into her husband’s work to save on hotel expenses. She also uses loyalty memberships at Hilton, Emirates, BA, and KLM. She still goes out once a month to eat and has social plans with friends, just not every weekend. While holidays are a short-term goal, she is saving to become mortgage-free and gain more financial freedom.
National Saving Trends
Tesco Bank research among 2,000 adults found that Brits saved more than £4,000 on average over the last year, with millennials leading at £4,816, Gen X at £4,297, and the median across all age groups at £4,114. However, around one in seven (15%) have not saved anything, likely due to the continued high cost of living.
Duncan Fortune, head of commercial at Tesco Bank, said that for any money you can save, it is “just as important to make sure your savings are working for you.” He encouraged savers to shop around for the best rates. “Finding an attractive rate is a great start, but keeping a competitive rate over time takes a proactive approach. Fixed-term accounts or cash ISAs can be worthwhile, though it’s important to set a reminder to review your options when they mature, as better deals may become available. Many people remain on low or even zero-interest accounts without realising, so taking the time to review your options can make a real difference. This way, you can benefit from higher interest on your savings and help your savings pot grow more quickly,” he advised.
