A woman who used to spend almost £10,000 a year on nights out has revealed how she has transformed her finances - and now she saves £6,000 by slashing her outgoings.
Lynsey White, 25, said her spending started getting out of hand after she moved from her family home in Yorkshire to a flatshare in London in 2019.
Keen to make friends, she realised her casual nights out were actually costing up to £800 a month - equivalent to £9,600 a year.
Lynsey, a parliamentary researcher, said: “It wasn’t until one particularly hungover morning last summer that I suddenly felt the need to check my spending.
“I felt sick to my stomach when I realised how much of my salary was going towards partying. All that money and I had literally nothing to show for it. I knew it had to stop.”
Lynsey cut back the nights out and swapped them for nights-in with friends at her flat in Clapham.
This meant she was no longer spending £30 on Ubers, £10 on club entry fees and £14 on expensive cocktails.
Lynsey added: “Although I still love a night out I reserve it for special occasions now.
“I’ve realised that bringing the party to your home beats queuing for twenty minutes for a drink at a bar or waiting in the cold for a cab.”
Cutting her nights out also prompted Lynsey to reassess her other finances and has made changes that add up to around £6,000 a year collectively.
Before she was paying £42.99 per month on a broadband and TV bundle deal, spending money towards TV channels she never watched.
After a quick online search, she decided to ditch the bundle deal she was on and moved to a mobile sim-only plan and broadband with Plusnet.
She now pays just £6 for unlimited calls and texts and £22.99 for unlimited fibre broadband, saving her £408 a year in total.
Lynsey added: “I think people my age can be quite blase about money. We think about the here-and-now and instant fun rather than long-term planning.
“I don’t need any bells or whistles, and switching to Plusnet took me about fifteen minutes, but will save me nearly a grand a year in the long run.
“I’m from Yorkshire, so naturally I always like finding a good deal. Doing a few minutes of research shows if you’re overpaying on your broadband, insurance or energy supplier.”
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Living in a flatshare and going out all the time meant Lynsey was living off food delivery apps and meal deals costing £140 a month - nearly £1,700 a year.
But she has since deleted these apps and started cooking from scratch.
“I batch cook big dishes of things like curries and stews at the weekend then freeze them so I always have something tasty to eat when I get in,” she continued.
“It’s such a small change but I reckon it will save me around £1,300 a year.
Lynsey also used store-specific vouchers and promo codes for all her Christmas shopping, shaving £180 off the cost of gifts for family and friends.
“It can be as simple as typing the name of the store you’re shopping in and the words ‘promo code’ to see what’s available,” she said.
“I think it’s all about changing the way you think about money. Now if I’m out and I see something I fancy, I spend a couple of minutes on my phone to make sure there are any better deals available.
“All of these switches aren’t massive by any means, but they have definitely been life-changing for me, particularly as a young person juggling rising bills as well as student loan payments and rent. I’d urge anyone my age to do the same.”
Joanna Carman, Director at Plusnet, said: “Whether it’s a night out or paying your bills, it may seem like a few pounds extra here and there, but that can quickly add up.
“Lynsey is far from alone, Plusnet’s research shows younger people in particular don’t believe they are any good at getting value for money.
“But by sticking to simple, good value deals and avoiding jargon and complicated language you can save thousands of pounds per year.”
