A savvy mum has wiped out a staggering £85,000 debt by adhering to 13 golden rules, featuring a nifty banking hack that helps resist spending temptations. Maddy Alexander-Grout, 41, found herself drowning in £40,000 of debt back in 2003 after racking up bills on six credit cards and loans, splurging on clothes, takeaways, and nights out during her university days.

She became debt-free within five years by turning into a yellow-sticker shopper—timing her grocery shopping for 7.30pm discounts – and committing to buying only second-hand clothes.

The Southampton-based mother of two faced financial woes again in 2023 when her start-up failed and she was liable for £45k in loans as a guarantor. She was haunted by letters from debt collectors and bailiffs once more.

“It was tough on my well-being – I was in the worst mental state I had ever been in,” she said. “I ended up in hospital with a kidney infection which wouldn’t go away because of the stress. I had a year and a half of sleepless nights.”

Determined, Maddy devised a plan to pay off her debts. She began dividing her monthly income into specific categories for expenses like impulse buys, massages, holidays, bills, and mortgage payments.

Then she once again embraced yellow sticker shopping and searched online for grocery discounts, often visiting multiple stores to find the best deals. She also bought an air fryer and cooked homemade ‘fakeaway’ meals like fried chicken and curries, successfully eliminating takeaways from her routine.

She avoided saving her card details on websites, meaning she was required to re-enter her information with each purchase. And she subscribed to only one streaming service at a time based on the series she was watching.

“Once you’ve paid, you can go and enjoy it. It’s kind of like ‘girl math’ – it feels like it’s free,” she continued. “I now live by a set of rules – do I need it? Will it add value to my life? Will I forget about it in a week?

“Being in debt to the tune of £40k twice – I was living in constant fear. But I have a better money mindset now – I see every penny of debt I pay off as a way of helping my future self to rise.”

Maddy said the £45k debt has now finally been paid off, and she swears she will never take out a loan or use a credit card again. But her savvy spending techniques remain in place for the family, so they can save spare cash for family holidays.

She even now works as an advisor to help other neurodivergent people manage their finances, gives talks about it, and has authored a book about it.

Maddy’s top money-saving tips

The 41-year-old advisor outlined 13 key rules for saving money. These include:

1. Only pay for the streaming subscription you’re watching
2. Try making ‘fakeaways’ to replace favourite takeaways
3. Check your bank account regularly
4. Pay for trips and days out far in advance and budget for ‘fun’ too
5. Spend time doing online price comparisons between supermarkets
6. Invest in reusable period pants to reduce monthly sanitary product costs
7. Have a one-in-one-out system for buying new clothes
8. Walk more rather than driving
9. Go to the library to do community activities for kids over the summer
10. Use online banking to allocate funds to different ‘pots’
11. Disconnect ‘saved’ bank cards – to deter yourself from easy spending
12. Scour yellow sticker sections of supermarkets – consider what you can buy and freeze
13. Bulk buy products like shampoo, detergent and shower gel – and track usage so you know when to restock

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