I refuse to spend money on anything but food & bills – the kids are grumpy as hell but I’ve saved hundreds a month
A THRIFTY mum has shared that she is doing a 'low spend month' this January, but not everyone is happy with her extreme budgeting.
Maddy Alexander-Grout ended up £40,00 in debt in her early 20s, after suffering from a spending addiction.
The mum of two, now 40, changed her life around and by living on just £15 a week, was able to pay off her debt in five years.
This month, Maddy will only be parting with her cash for essential spending, such as food and bills.
She believes that her frugal ways will lead to her saving a whopping £300.
"If it's not essential then it's not being bought", the mum of two told NeedToKnow.co.uk.
“I am going to be saving the money I would have spent instead.
“The kids are grumpy as hell about it!
“They are not used to doing the things we would usually do like getting a McDonald’s or doing soft play, which they really enjoy doing.
“They like the occasional McDonald's, and I have told them it's not happening.
“I have also told them if they want it badly enough, they can spend their own money on it.
“It's helping to teach them the value of money and also helping them to be more grateful for the things we buy them.”
Maddy, who often shares money saving tips and tricks with her 53,000 TikTok followers said that as well as food, bills and childcare she also classes her children's activities such as football practice as an essential cost.
Maddy said she is brutal with her frugality and saves the money she would otherwise have splashed on luxuries.
She said: “For example, I will put the money I would have spent getting my lashes done in a pot.
“If the kids ask me for a Mcdonald's, I will put that money in a pot.
“It gives me a really good head start for the year.
“I lived on £15 a week for food for about three years whilst I paid off the debts.
“I became obsessed with yellow sticker and charity shopping and I paid my debts off in full within five years.”
As well as her Low-Spend-January, Maddy is also aiming to save £1,000 this year..
One way she plans to do this is so stash away £1 each day, meaning that by the end of the year she will have £365.
The second way she plans to do this is by doing the 1p challenge.
She explained: "[The 1p challenge] starts with you saving 1p on day one and then it increasing by 1p each day.
“So, on the last day (day 365), you’ll save £3.65 – saving £668 [in total].”
The mum of two said that, despite her kids not being best pleased with her frugal ways, her husband James is very supportive.
She added that her friends are also very understanding and even treat her to coffee so she doesn't have to miss out on socialising.
Maddy has created her own money saving app 'Mad about Money' to help others struggling with overspending.
She said: “If you are struggling with money don't bury your head in the sand, I did it for too long.
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“Facing up to your money issues is the only way you can start to fix them.”
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