But there’s one big problem…

But there’s one big problem…

It all depends on what you’ve got put away.

It wasn’t easy but, these change meant that, in just under six years, I was out of debt.

Welcome back to Me and My Money, Metro’s series taking a peek into the nation’s wallets and bank accounts.

This week we meet Ambrina Taylor, a 47-year-old money blogger and mum, who lives in a London rental property with her two children and partner, Paul.

After facing a series of obstacles including more than £20,000 of debt, navigating divorce and walking away from her business, she now makes around £3,000 a month sharing her expertise to her 75,000 folllowers through her Instagram account.

Hi Ambrina, tell us about yourself and your history with money

Growing up, I remember my parents were always stressed about bills. 

I went to the University of Westminster when I was around 18, to study psychology, and then did a second undergraduate degree in physiotherapy at the University of East London, but accumulated mountains of student debt, because I didn’t know how to manage my money.

Most of the time I wasn’t using my loan to live, I’d buy books with it but I also paid for a breast reduction and bought clothes. 

I worked part-time as a waitress in a cafe too, so I had money coming in, I just had more going out.

How did debt continue to build?

I moved in with my ex-husband aged 18 and got my first job as a physiotherapist aged 27. By then I owed £6,000 towards student loan and credit cards. My former partner worked in construction but payment could be irregular.

We managed until we bought our first house in London in 2006. Despite our debt we scraped together a deposit of 10%, but we were spending more than we brought in.

The house was decorated in Laura Ashley and I regularly splurged on days out or used credit cards.

Then I gave birth to my son Jake, now 17, in 2008, and ten months later I had my daughter Olivia, now 16. 

When did you realise things had got out of hand?

Sometimes I’d be out with the children and my card would get declined and it would bring me back to reality.

One day in 2017 I tried to get petrol for the car. I prayed the card would go through but it didn’t and I had to leave my phone with the staff so they knew I’d come back with the £5.

I’d never felt shame and humiliation like it before – and so much guilt because I felt I’d failed my children. Enough was enough.

At home, I sat down and calculated our debt. I had thought it was £10,000, but it was actually £21,000 and we were already making debt repayments of £1,000 a month.

Instead of feeling upset, that gave me a boost, because I realised we’d have much more money around when we’d paid off the debt.

I stayed in debt for so long because I thought everyone else was doing well. But I had to realise, no one was coming to rescue me, I had to do it myself.

How did you tackle paying it all off?

I settled on the ‘snowball’ approach pioneered by Dave Ramsey, involving paying off the debts smallest to largest, moved all the debt to interest-free credit cards and cut out all non-essentials. 

This included new clothes, haircuts, trips out and even activities the children were doing which I felt a huge amount of guilt about. That was the worst part of the journey. There were times when I wondered if I was doing the right thing, but the children got involved and helped out. They’d colour in our debt chart on the fridge and were a part of everything we did.

We cleared the debt in eight months and I earnt extra money through side hustles like completing surveys.

When we cleared it, it was Christmas time 2017 and we took the kids to Bluewater shopping centre and picked names of disadvantaged children off the wishing tree and bought presents for them. It was wonderful to use the money we now had to do something lovely for someone else. The kids still talk about it and I feel really proud that we did that.

What was your biggest financial challenge?

After the debt, my separation from my partner. We ran a successful doggy day-care business but I left in 2023.

It was a blow to my finances but by then, my social media account was growing in popularity.

I didn’t start off that way, but I wanted to share the journey because being in debt is lonely and soon brands started reaching out to work with me, including my dream money-saving brand Plum, in 2023.

Sometimes being self-employed was a worry, I wondered how I’d cope paying the rent on the small flat I’d moved to, paying my bills and paying towards the mortgage on my ex’s house. 

But I made it work – something would always drop into my inbox. Now I can earn around £3,200 a month, although my income is variable. 

Splurge or spend?

Travel is my biggest splurge – we travel a lot now from 24-hour day trips abroad to longer holidays.

Money isn’t everything. It can become everything when you’re in this job, but it isn’t everything. When I’d paid off the debt, I wanted to hoard every penny when it came in, but now I know what interests me and it’s seeing the world with my kids so I have learnt how to spend again.

Has your experience had an impact on your children? 

The children have learned they can’t just have what they want, they have to save money, and having seen my struggles, I’m sure they don’t want that for themselves.

Jake particularly is good at earning and saving money, but they haven’t taken on my frugality completely, they say I’ve put them off Primark whenever I go in because I used to drag them in there so often, but instead they both use Vinted for clothes and will always look for a deal.

What would you say to others struggling with debt?

Take a day, go through your bank statements and work out where money is coming in and going out.

The whole debt-free community on social media, including Facebook pages and other Instagram accounts is very supportive and you never feel alone. 

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Welcome back to Me and My Money, Metro’s series taking a look at the UK’s spending and saving habits.

This week we meet Danielle Taylor*, 26, who is a single mother to a 4-year-old son who has a rare genetic condition that means he needs round-the-clock support.

Danielle, who lives in Greater Manchester, hopes to be able to work when her son starts school full-time from September.

Here, she explains how she manages without being able to earn an income.

Hi Danielle, tell us about yourself and your son

My son, Clayton, was born with a rare genetic condition that means he may never walk or talk. He also can’t eat and had a feeding tube fitted last month.

I’m a single parent with very little support, although I do get help from my family nearby and charities when I can. I’ve tried to apply for respite care, to give me a break, but I’ve been told Clayton’s needs aren’t high enough, although I think it’s more because of his young age.

Clayton is currently at pre-school, attending three hours a day term time. This will go up to standard school six-hour days when he starts reception at the same school in September.

I’m counting down the days, to be honest, because I’m hoping the longer days will give me a better chance at finding work – although my employer would have to be flexible and understanding of my situation. Because of Clayton’s condition, he needs 24/7 care all the time and he has various hospital appointments.

I don’t mind what kind of work I do. When I was younger I used to want to work with children with disabilities, helping them with sports and activities. But now I have a child with a disability myself, I want a break from caring for other people.

Talk us through your monthy income and spending

Because I don’t earn an income from work, I rely on benefits. I get Universal Credit of just over £1,000 a month and Clayton gets £740 through the Disability Living Allowance (DLA).

This takes my total monthly income to £1,769, which typically pays the bills on my two-bedroom bungalow with not much to spare. Our rent of £432 a month is covered by the local authority and paid directly to the landlord.

My energy bill is around £250 a month, water £70 and I spend around £150 to £200 a month on food. I eat a lot of convenience food because Clayton is nil by mouth so I tend to make it easy for myself, but I’m aware I could spend less by doing more food prep. Clayton has prescribed milk and water through his feeding tube.

We find the money ok to manage on – it covers the bills and extras that Clayton wants or needs. He likes being outdoors, swimming and bubbles.

We have a taxi provided by the council to take him to school and back, but otherwise transport costs can be high for me as I tend to take taxis after having a bad experience on a crowded bus when there wasn’t enough space for Clayton’s adapted pushchair.

What are your biggest splurges?

I’m currently having driving lessons so that I’ll be able to drive us around. The lessons cost £345 for a block of 10 and I have a two-hour lesson every fortnight.

If I need to make any large purchases, I have the option to borrow the money. I’m signed up to Creditspring, a regulated responsible lender that doesn’t charge interest on its loans. I pay £10 a month to borrow up to £300 twice a year.

I recently borrowed £250 to buy Clayton an adapted ball pit and I’m currently paying the loan back at £50 a month. Clayton loves sensory experiences so it’s the best purchase I’ve got for him. He bangs his head a lot and this one has extra padding so it reduces the risk of him hurting himself.

What are your biggest financial challenges?

Clayton’s dad has never met Clayton since the day he was born. He just didn’t want to have kids. He was in the army and was worried he would be tied down. The relationship didn’t work out and I went it alone. He does not give any financial support and I’ve not been able to get anywhere legally.

When Clayton was little, he needed blood testing from his father to try to establish the genetic issue. I tried to persuade him to do a blood sample but he refused. I’ve also tried to go through the Child Maintenance Service (CSA) to claim financial support from Clayton’s dad. But the CSA said that because he has a common name and they didn’t know his address because he travelled with the army, I couldn’t get anywhere.

It’s disgraceful that men can get away with this.

I’d like to continue fighting for Clayton’s dad to support him but I don’t know where to go next. My next priorities are to pass my driving test and to get a job so I can earn money to give us better experiences.

*Surname changed.

It’s all down to a misunderstanding about interest.

It’s all down to a common misunderstanding about interest.

Children develop money attitudes before age ten, here’s a breakdown of the advice you should be sharing.

From side hustles to saving challenges, everyone is trying to earn more money where they can.

Recent research from Chase Bank revealed that 69% of UK adults have even changed their spending habits to try and save as much as possible.

But it seems that some tried-and-tested hacks can actually drain your bank account, rather than fill it up.

Curious to find out if you’re making any of these financial mistakes? Here are six money ‘hacks’ probably best avoided.

Buying in bulk without reading the small print

‘Bulk buying can be a great way to save money, but only if you’re smart about it,’ Matthew Sheeran, money saving expert at Money Wellness, tells Metro.

‘People buy 3-for-£10 meat deals or bulk fresh fruit thinking they’re getting a bargain but end up throwing some away. A 5kg bag of rice might seem smart at £6, but not if it sits in the cupboard for years unused.’

Sheeran explains that big packs often look like better value, but unless you check the unit price, you might end up paying more. For example, a 4-pack of loo roll could work out at 20p a roll, while the 12-pack labelled as ‘value’ might actually be 25p per roll.

‘Always compare cost per 100g, per item or per roll, not just the headline price,’ Matthew adds.

Craft queen? Making things yourself could be costing you more

OK, in no way are we discouraging people from giving up their hobbies, but sewing and knitting will probably cost you more than buying your clothes from a high street store.

To unpack (or unravel), knitted sweaters on ASOS range between £20 to £40. To knit your own standard medium-sized jumper, you’d need 12 balls of wool.

Though you can get cheap balls for as little as £1.50, veteran knitters recommend higher quality wool. This is because it survives washing machines and is less likely to pull or bobble. In this instance, you’re looking at around £3.50 a ball. Meaning a medium jumper would cost you £42. For a large, it’s 13 balls, equating to £45.50.

My mum and grandma can attest to the cost, despite gifting my sister and I Ron Weasley-style handmade jumpers most Christmases. (Not complaining, I will never not get excited about a woolly patchwork number.)

Yellow stickers at the supermarket

Who isn’t a sucker for discounted items at the supermarket? From cuts of meat to veg to freezeable ready meals, it can be hard to resist a ‘good’ deal.

If used correctly they can be a lifeline for struggling households. In fact, consumer watchdog Which? recently revealed that approximately 40% of British households buy yellow sticker items to save on groceries as the cost of living continues to rise. However, there are times when money can be wasted.

Firstly, cheap prices (especially typically high-priced foods like steak) are harder to avoid. This means you’re more likely to pick up items you didn’t enter the supermarket for, therefore accidentally going over budget.

Secondly, purchasing lots of discounted food (mainly fresh veg) means you either have to eat it all over the next night or two, or it goes off in the back of the fridge. People who have already caved and stashed packets of yellow sticker items in their freezer for future meals will probably have less space to store them. Though not done on purpose, this can lead to food and money wastage.

In terms of clothing or tech products, just because something is on sale doesn’t mean you need to buy it. And, if you are tempted, take a second to research the average price of the item. It might not be as discounted as the store is making you believe.

Buying weekly meal kits, not whole shops

We get it. After a long day at work, the last thing some of us want to do is spend hours preparing dinner only to devour it 10 minutes later. In this respect, meal kits can be really handy: the ingredients and instructions are there, and they’re often quick and healthy meals to make.

Companies like Hello Fresh and Gusto know how to draw you in, too. With photos of perfectly curated-looking meals and 50% off your first order, you feel like you’re winning.

But, when you start ordering them on a weekly basis, things start to add up. At Hello Fresh, four meals a week for two people is currently priced at a reduced rate of £19.74. The original cost is £39.49. For a family of four, with five meals per week, it’s £34.99, down from £69.99.

At Gusto, you then get 40% off your second box, and 20% for the next two months. Once the sale period is over, five meals for two people are currently £44.75 per week.

According to Money Saving Expert, an average weekly grocery shop for a couple is £62. This also includes food for breakfast and lunch. Therefore, alongside a meal kit, you’ll need to shop for your other two daily meals.

DIY repairs without proper knowledge

Again, we’re not knocking anyone for giving something a go. But in terms of saving money, there’s a time and a place for amateur DIY. If the task is complex, involves safety risks, and specialised tools (like electrical or plumbing work), it’s best to hire an expert.

The initial cost might be more expensive than you were anticipating, but at least you can guarantee a professional job done. Watching a few YouTube videos on how to rewire your whole house doesn’t count as experience. Plus, if you make a mistake trying to save a few quid, it’ll cost you a lot more in the long run.

If you do need house or car repairs, it’s vital to have an emergency fund.

Growing your own food

Wholesome? Yes. Healthy? Yes. Cheaper than going to the supermarket? Questionable.

Metro’s Lifestyle Editor Rachel Moss spent £100 ‘on dirt alone’ the first year she created a veg patch in her garden. And though she grew a mountains of courgettes, the squirrels ate the strawberries, the slugs decimated the lettuce, and the carrots and aubergines were miniscule.

‘Three years later I’ve invested in nets and slug traps, learned a lot and had more success, but you still can’t predict the weather,’ she warns. ‘At this point it’s still a hobby, not a money-saver.’

Sheeran expands on this, noting that the setup can be pricey.

‘Compost, fertiliser, seeds, planters, tools — it’s easy to spend £50 to £100 before you’ve even planted anything,’ he says.

While Sheeran says that’s fine if you’re growing lots of or more expensive veg, but if you’re growing a few lettuces or carrots, it might cost more than buying them in the supermarket.

Amazon, IKEA, and B&Q offer basic planters from as little as £15 to £60. Larger products can be as much as £140. Soil prices vary based on type, quantity, and supplier, but you can expect to pay anywhere from £2.50 to £40.80 per bag or £9.60 to £29.95 per tonne for loose loads. 

On Amazon, a 20kg bag of general purpose fertiliser is £24.99, while pest control depends on the type of product. A simple bug spray might cost you £10, but a bird and pest repeller device could be £50.

Instead, ‘start small, reuse what you’ve got, and don’t overspend on fancy kits,’ says Matthew.

He recommends old buckets or washing-up bowls, as these make great planters if you drill holes in the bottom. Also, check local Facebook groups, Marketplace, next door or community allotments.

‘People often give away seeds, tools or even compost for free,’ he adds.

Ultimately, Matthew says, whether you’re bulk buying or growing your own, the trick is to ask yourself: do I really need this much? Have I checked the unit price?

A little thought upfront can make a big difference to your budget.

Whether you apportion £20 notes into physical envelopes or use a number of different savings accounts, putting your money into different ‘pots’ makes saving more successful.

‘I drive a 14-year-old Nissan Micra that has definitely seen better days.’

‘I drive a 14-year-old Nissan Micra that has definitely seen better days.’

It’s not as scary – or high – as you might think

It wasn’t easy but, these change meant that, in just under six years, I was out of debt.

It’s all about changing your strategy to fit your changing needs.

‘Frugality is about being grateful,’ she says.

Think of it as a timeout, not a time-off.

The current retirement age sits at 66 in the UK, but depressingly, it’s expected to go up even higher.

And in even more miserable news, the latest forecasts suggest pensioners in 2025 will be £800 per year worse off than those today — unless things change. It’s why Work and Pensions Secretary Liz Kendall has announced a review into the state pensions age.

But if you don’t want to wait for your state pension to kick in, exactly how much money do you need to retire?

Based on the current retirement age of 66, or earlier if you’re lucky, investment management company Fidelity has revealed the recommended amount of savings you’ll need by age 30 to achieve financial freedom after retirement.

Note that said age will rise to 67 between 2026 and 2028. It’s then scheduled to increase again to 68 between 2044 and 2046.

How much do you need to save by age 30?

To be able to pack in work for good and live a comfortable life, you’ll need to have saved one times your annual salary by your 30th birthday, according to Fidelity. To explain, if you’re on £30k by 30, that’s how much you’ll need to have stashed away in the bank. If you’re on £40k, that’s what you should have saved. If you’re on £50k, you’ll need around that amount to maintain your lifestyle. You get the picture.

Sounds daunting, right? Especially when the majority of our wages go on rent or mortgage, bills and food. The news gets worse if you live in London, as the average tenant spends roughly 44.5% of their take-home pay on rent.

So, if you decide to pursue this retirement fund route, it means you can say goodbye to holidays, meals out, or any other simple pleasures for the foreseeable.

Also note that the longer you’re in your job, you’ll likely be climbing the ladder and chasing better pay. So be mindful that whenever your salary increases, you’ll have to increase the amount you put into your savings each month.

How much do I need to save each month to earn £30k by 30?

Of course, it all depends on your current age, salary, and how much you have in the bank right now.

But say you’re 21 with no savings and have a goal of reaching £30k by the time you’re 30. This means you have nine years to save. Every year, you’ll need to deposit £3,333.33. That equates to £277.78 monthly.

Now you’ve seen the average savings, you’ll likely have to save a little less monthly to reach your goal. That is, if your current finances align with the above. But again, if we’re going by the £30k by 30 mark, those between 18 and 24 should theoretically only need to save £26,364.

For 25 to 30-year-olds, based on the average savings, the amount you’d need to save is £26,252.

How much is the State Pension?

As of April 6 2025, the new State Pension increased by 4.1%. So, those eligible for the full amount will receive £11,973 per year. That’s just £230.25 per week. This is compared to £221.20 a week for the 2024/25 tax year.

To qualify for this, you’ll need 35 years of National Insurance Contributions.

Those receiving the basic State Pension will get less. For the 2025/26 tax year, this number is £176.45 a week. That equates to £9175.40 per year.

People earning the basic State Pension will usually need 30 years of National Insurance contributions.

If you have at least 10 qualifying years on your National Insurance record, you typically get a portion of the State Pension. Those with gaps in their National Insurance record will be able to make voluntary contributions to increase their State Pension amount.

This article was originally published in June 2025.

The current retirement age sits at 66 in the UK, but depressingly, it’s expected to go up even higher.

And in even more miserable news, the latest forecasts suggest pensioners in 2025 will be £800 per year worse off than those today — unless things change. It’s why Work and Pensions Secretary Liz Kendall has announced a review into the state pensions age.

But if you don’t want to wait for your state pension to kick in, exactly how much money do you need to retire?

Based on the current retirement age of 66, or earlier if you’re lucky, investment management company Fidelity has revealed the recommended amount of savings you’ll need by age 30 to achieve financial freedom after retirement.

Note that said age will rise to 67 between 2026 and 2028. It’s then scheduled to increase again to 68 between 2044 and 2046.

How much do you need to save by age 30?

To be able to pack in work for good and live a comfortable life, you’ll need to have saved one times your annual salary by your 30th birthday, according to Fidelity. To explain, if you’re on £30k by 30, that’s how much you’ll need to have stashed away in the bank. If you’re on £40k, that’s what you should have saved. If you’re on £50k, you’ll need around that amount to maintain your lifestyle. You get the picture.

Sounds daunting, right? Especially when the majority of our wages go on rent or mortgage, bills and food. The news gets worse if you live in London, as the average tenant spends roughly 44.5% of their take-home pay on rent.

So, if you decide to pursue this retirement fund route, it means you can say goodbye to holidays, meals out, or any other simple pleasures for the foreseeable.

Also note that the longer you’re in your job, you’ll likely be climbing the ladder and chasing better pay. So be mindful that whenever your salary increases, you’ll have to increase the amount you put into your savings each month.

How much do I need to save each month to earn £30k by 30?

Of course, it all depends on your current age, salary, and how much you have in the bank right now.

But say you’re 21 with no savings and have a goal of reaching £30k by the time you’re 30. This means you have nine years to save. Every year, you’ll need to deposit £3,333.33. That equates to £277.78 monthly.

Now you’ve seen the average savings, you’ll likely have to save a little less monthly to reach your goal. That is, if your current finances align with the above. But again, if we’re going by the £30k by 30 mark, those between 18 and 24 should theoretically only need to save £26,364.

For 25 to 30-year-olds, based on the average savings, the amount you’d need to save is £26,252.

How much is the State Pension?

As of April 6 2025, the new State Pension increased by 4.1%. So, those eligible for the full amount will receive £11,973 per year. That’s just £230.25 per week. This is compared to £221.20 a week for the 2024/25 tax year.

To qualify for this, you’ll need 35 years of National Insurance Contributions.

Those receiving the basic State Pension will get less. For the 2025/26 tax year, this number is £176.45 a week. That equates to £9175.40 per year.

People earning the basic State Pension will usually need 30 years of National Insurance contributions.

If you have at least 10 qualifying years on your National Insurance record, you typically get a portion of the State Pension. Those with gaps in their National Insurance record will be able to make voluntary contributions to increase their State Pension amount.

This article was originally published in June 2025.

The Chancellor has set out plans to encourage people to invest their savings.