Mum grabs ‘every discount, voucher and incentive’ to save cash – ‘£650 with Nectar alone’

She is getting creative with both her spending and saving, and reaping the rewards. Now she is sharing her tips in the hope that readers can get more out of their money, too.

Amy James is fighting back as her energy bills shoot past £500 a month, and all her other household bills rise, too.

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

They have been forced to cut back on the amount they pay into their savings account each month, but hope to make this good later when things are easier. 

“We are focusing hard on our food shop budget, using offers and deals and making some tactical swaps to cheaper brands.”

She mostly shops at Sainsbury’s, and collects Nectar points. “This year I’ll collect about £325 to spend through Nectar. I’ll save most of that for when Sainsbury’s offers its double Nectar week, usually in November, when they will be worth £650.

“That money will go towards presents, Christmas food shop and other household items we may need.

Amy has opened a string of bank accounts and takes advantage of any incentives on offer. “Last month I made £140 through Chase bank’s refer-a-friend campaign, after bringing the bank seven new customers for a £20 referral each.”

She has also made more than £1,500 from switching current accounts over the years, by taking advantage of upfront switcher incentives. 

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

Through her job, Amy is lucky to have access to employee engagement site Reward Gateway, which offers discounts and cashback on spending. “I’ve saved £900 using the platform over the last couple of years.”

She is also using an offer from food box service Hello Fresh, which has given her five weeks worth of meals for about £80. “I also pass on refer options so family have enjoyed entirely free boxes of meals too.”

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

READ MORE: Britons can save upto £12,000 in energy bills within five years

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

The average household could now fund basic living costs such as housing costs, debt repayments, utility bills and food for just 19 days if they lost their income, down from 24 in 2020.

Cutting back has become the norm but the five million poorest workers in the UK have no financial safety net in the event they lose their salary, said Bernie Hickman, chief executive at Legal & General Retail. 

“The cost-of-living crisis is squeezing the purses of people all over the country, leaving households of every shape and size with money worries.”

Hickman urged people to take taken advantage of free financial guidance available, including free services like MoneyHelper, ahead of the autumn squeeze.

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