A mum from Somerset has shared her money-saving tips that led her to save £400 a month on food and build a £5,000 emergency savings fund. Louisa Willcox, a mother of two kids, aged six and 10, has been through financial challenges, including income fluctuations due to maternity leave and stepping back from work to care for her children post-surgeries. Despite these obstacles, Louisa and her husband managed to create financial stability through conscious spending changes.
Louisa emphasises the importance of involving the whole family in budgeting and financial decisions. They focused on reducing food expenses by switching to supermarket own-brand products, planning meals, and avoiding pre-made meals. Batch cooking, using an air fryer and slow cooker, has been key to saving money and time. Louisa highlights the impact of involving children in homemade versions of takeaways, teaching them financial responsibility.
Developing a spending plan and identifying priorities played a crucial role in Louisa’s financial journey. By cutting unnecessary expenses, redirecting funds to savings, and aligning priorities, they built a £5,000 emergency fund over time. Louisa advocates for ‘pocket money’ for personal spending, a ‘family spend amount’ for treats, and consistency in sticking to financial plans.
Louisa’s story demonstrates that with conscious spending and small daily changes, significant savings can be achieved. By being mindful of expenses, involving the whole family, and setting realistic financial goals, individuals can work towards financial stability. Louisa encourages financial literacy from a young age and suggests starting small to build savings over time.
To hear more about financial literacy and money-saving tips, Louisa hosts a podcast focused on ADHD and money, along with a YouTube channel dedicated to financial education. She believes that making sacrifices and being conscious about spending can lead to long-term financial benefits. Louisa’s journey serves as a testament to the power of small changes in achieving financial stability and savings.
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