A family of four were forced to live on less than £1 a day after both losing their jobs within months.
Ricky and Naomi Willis struggled to afford even basic items after racking up debts on payday loans and credit cards.
Now they want to help others.
READ MORE: Martin Lewis issues advice if you can't afford energy bills after 'depressing' hike
Their troubles began when Ricky lost his job as a machine operator at a printing firm and the following year Naomi lost her job in insurance.
With no money coming in, they quickly accumulated £43,000 in payday loan, credit card and catalogue debt, the Express reports.
When their car and fridge freezer broke down in the same week, their remaining savings were wiped out and their debt pile soared even higher.
Ricky said: “We knew the repayments would eat up everything, but had no choice. It just kept spiralling from there.”
The family of four hit rock bottom when Ricky realised they had to live on less than £1-a-day.
He continued: “We drew up a list and feeding our two daughters Daniella and Chloe was top, then nappies as Chloe was still a baby.
"Us eating came third. I felt like I had let my family down.”
Ricky and Naomi, 37, started their journey back to solvency by ruthlessly scouring their bank statements to cut back on all non-essential spending.
New research from low-cost broadband provider Plusnet shows the average householder pays £299 a year over the odds on their mortgage, £222 on fuel bills, £156 on broadband and £132 on TV packages.
They also spend £162 on car insurance and £84 on pet insurance when cheaper alternatives were available.
Naomi says: “We made sure we weren’t spending a penny on products or services we didn’t absolutely need. That saved us thousands of pounds a year.”
They set up individual payment plans with creditors, used money-saving apps like Freecycle, sold belongings and stuck to cheap meal plans.
Thanks to their frugal lifestyle, they became debt free in just four years.
Ricky and Naomi set up the Skint Dad blog in 2013 to help other people get their finances back on track. Now their money-saving tips are helping hundreds of thousands of followers as living costs skyrocket.
Naomi said: “It’s going to be a really tough year for a lot of households. It might seem impossible to weather the storm but there are things you can do to ease the pressure.”
Here are their top 12 money saving tips.
Be energy smart
Even simple measures can save money. Block drafts from doors, windows and even an unused chimney, lower radiator thermostats in unused rooms, and turn off appliances and lights when not in use.
Choose the right broadband supplier
Ricky said: “We pay £18.95 a month with Plusnet with no unnecessary bells and whistles."
Get cashback when shopping online
Use sites like TopCashback or Quidco. Airtime Rewards lets you double your cashback.
Check your bank account regularly
Check direct debits and standing orders and cut back on what you don’t need.
Beware TV subscriptions
Costs quickly add up.
Ricky said: "Do you watch many of the series or films on every service? If not, cancel and save," Ricky says.
Save on fuel
Check local fuel station prices online before filling up, or use loyalty schemes.
Use a meal plan
Planning weekly meals for your family will reduce the money you spend at the supermarket and lower food waste.
Use a slow cooker
This makes cheaper cuts of meat delicious and tender, and uses less energy than an oven.
Claim all tax benefits
Turn2us.org.uk lets you check you are claiming all state benefits available to you.
Select the right mobile phone provider
You can pay as little as £7 a month on a SIM-only deal, and often keep your old number.
Consider a side hustle
From online tutoring to party planning to ridesharing, this could be a great way to make extra cash.
Tackle any debts
Contact StepChange Debt Charity or National Debtline for free and impartial debt advice.
Joanna Carman, director at Plusnet, said: “Simple tricks to shop sensibly and avoid complicated offers can be a massive help at times like these.”
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