Cutting our bills by £7,000 helped us pay off our mortgage and retire early

MONEY saving is simple to Hayley Martin and her husband Pete. 

Their frugal lifestyle and bill cutting hacks have allowed them to retire early and live mortgage free at just 50 and 55. 

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“Everything we do to save cash is just common sense stuff,” Hayley told The Sun. 

“It looks like a tough kind of lifestyle but it has given us financial security for the future. 

“Not having to worry about money has also helped with our mental health and wellbeing – something you can’t put a price on.” 

We spoke to Hayley, who is a retired carer for children with autism, about her money saving tips as part of our Fix Your Finances series. 

Here we explain how she saved over £7,000 cutting bills to help you chop yours down too.

Car swap – Saving: £4,959 a year 

The couple swapped their Kia Sedona which cost £5,565 a year for a Smart Fortwo, saving themselves a massive £4,959 a year. 

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The savings were calculated by adding up their insurance, road tax, fuel and garage costs. 

Hayley says: “Our SmartCar looks a bit funny but we don’t care because we couldn’t believe how much cheaper it is to run. The savings are great. 

“We also cycle and walk places when we can to save on fuel costs. It saves us money and it’s healthier for you.” 

SIM-only phone deals – Saving: £360 a year 

Purchasing their mobile phone handsets outright shaved hundreds of pounds off their bills.

Pete uses a £179 Motorola GV bought in 2018 and pays £20 a month for his SIM-only deal.

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Meanwhile, Hayley carries around a £50 Doro and uses a pay as you go SIM.

This is compared to £50 a month Pete used to pay for a Samsung Galaxy Note, costing him £600 a year.  

“I bought my phone around three years ago and I’ve topped it up only about three times in those years,” said Hayley. 

“I only use it as an emergency phone so only top up £10 a time. We pay more for Pete’s as he has data and calls included.”

Switching energy deals – Saving: £240 a year 

Keeping an eye on their energy bills saves the family around £240 a year. 

Instead of rolling onto the standard variable tariff when their deal comes to an end, they switch to a cheaper fixed-rate one.

“We monitor energy deals all the time,” Hayley said. “We swap tariffs when the deals expire, sometimes we stay with the same provider if that’s where we can get the best one.

“At one point we were paying £85 a month for gas and electricity with E.on but switched tariff to £65 a month.”

Supermarket swap – Saving: £1,300 a year 

The couple never used to think about where they bought their food from, spending around £65 a week at their local Marks & Spencers. 

But swapping to a cheaper supermarket, such as Aldi or Tesco, has cut their grocery bills down to £40 a week. 

“We find meal planning stops us from impulse buying and bulk buying saves us money in the long run,” Hayley said. 

Cutting out the gym – Saving: £300 a year 

Hayley used to pay £360 a year for a gym membership but now she runs, walks and cycles to keep fit.

She enjoys playing badminton too and spends around £60 a year to hire a court to play with a friend. 

Hayley said: “I cancelled my gym membership and now get fit outdoors for free. 

“I keep it social too by joining up with my husband or friends. 

“Walking and cycling places instead of driving also saves us money on fuel and parking charges.”

Eating in – Saving: £400 a year 

Hayley and Pete have never been big on eating out and would spend around £500 a year in total. 

By treating themselves on special occasions has knocked this figure to around £100. 

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“Often, we’ll share a pot of tea if we’re out for lunch instead of getting one each,” Hayley said. 

“Fortunately, I’m not a big drinker so I tend to stick to tap water and Pete will have a beer.” 

Ditch fast fashion – Saving: £200 a year 

The retirees advocate buying quality clothes that will last and only replacing items when they absolutely need to be. 

It has helped them cut down their already small fashion expenditure down to just £50 a year each. 

“We don’t always go for the cheapest option,” explained Hayley. “I’ve got some clothes that have lasted me 20 years. 

“Rather than buying a new outfit for an event like a wedding, we will borrow an outfit from a friend instead of spending money on something we’ll only wear once.”

Total saving: £7,759 a year

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As part of our campaign to help you sort out your finances, we spoke to debt advisers who share their money saving secrets.

If you’re in debt then it can feel overwhelming to know where to start, which is why we’ve put together a guide to the tried and tested techniques to tackle it.

We also reveal how to save £2,530 in a day by cutting bills and giving your finances a makeover.

This post first appeared on thesun.co.uk