0:00:02 > 0:00:04Whether you're a spender or a saver,
0:00:04 > 0:00:08we could all do with knowing how to make the most of our cash.
0:00:09 > 0:00:13So we've found simple advice for you to do just that, and taken it
0:00:13 > 0:00:15to towns and cities right across Britain.
0:00:17 > 0:00:21Whatever help you need with your finances, we are Right On The Money.
0:00:23 > 0:00:25Hello, and welcome to Right On The Money,
0:00:25 > 0:00:28the series that's all about bolstering your bank account
0:00:28 > 0:00:30without putting in too much effort.
0:00:30 > 0:00:32Today, we are in Nottingham, home of Robin Hood
0:00:32 > 0:00:36and his Merry Men who were dab hands at getting hold of money themselves.
0:00:36 > 0:00:39But don't worry, we're not going to advise you to rob from the rich
0:00:39 > 0:00:40to give to the poor.
0:00:40 > 0:00:42But here's what you can expect on today's programme...
0:00:44 > 0:00:48She can carry a tune, but are her finances hitting the wrong note?
0:00:48 > 0:00:52We'll see if we can get this busy mum closer to buying her own home.
0:00:52 > 0:00:56Because anything is possible when you believe it is.
0:00:56 > 0:01:01And I believe that owning my own property is achievable.
0:01:01 > 0:01:04And as we look at why loyalty doesn't pay,
0:01:04 > 0:01:06the people of Nottingham
0:01:06 > 0:01:09tell us exactly what they think about companies
0:01:09 > 0:01:10who charge us too much.
0:01:10 > 0:01:12We're supporting you, we're bringing money
0:01:12 > 0:01:15into your business, stop treating us like idiots.
0:01:18 > 0:01:20Now, Nottingham is also a city of invention.
0:01:20 > 0:01:23Traffic lights, tarmac, HP sauce
0:01:23 > 0:01:25and ibuprofen all came from here.
0:01:25 > 0:01:28Now, every new idea could do with a bit of encouragement,
0:01:28 > 0:01:32but coming up next is a mum who is a whizz at giving other
0:01:32 > 0:01:35people motivation but could do with a bit of it herself
0:01:35 > 0:01:39when it comes to securing her financial future.
0:01:39 > 0:01:41This is Wonder Woman Yvonne,
0:01:41 > 0:01:44a high-achieving entrepreneur, always on the go,
0:01:44 > 0:01:47from the odd bit of hairdressing...
0:01:47 > 0:01:50Your hair's really grown since the last time I saw you.
0:01:50 > 0:01:54..to running a life coaching and motivational speaking business...
0:01:54 > 0:01:58You've got a dream. Make it happen. It's up to you.
0:01:58 > 0:02:02..and training a very successful gospel choir.
0:02:02 > 0:02:05# That tonight's going to be a good night... #
0:02:05 > 0:02:09Yvonne makes the most of every opportunity that comes her way, and
0:02:09 > 0:02:14one reason why she's so driven is the tough life she had growing up.
0:02:14 > 0:02:18I'm one of five siblings and my mother died when I was 11 years old.
0:02:18 > 0:02:21When she died, everything fell apart.
0:02:21 > 0:02:24And then I left home at 15. Then I lived
0:02:24 > 0:02:29on the streets for a few days, so I've experienced homelessness.
0:02:29 > 0:02:33Slowly, Yvonne got her life back on track and started a family.
0:02:33 > 0:02:37She's determined to ensure her three kids don't miss out on the things
0:02:37 > 0:02:41she didn't have, but while she's helped her sons buy their
0:02:41 > 0:02:45first home, she's never got on the property ladder herself.
0:02:45 > 0:02:49I'm a single parent. I'm a small-business owner.
0:02:49 > 0:02:51How can I buy a house?
0:02:51 > 0:02:55You know, I've had debt problems in the past as well,
0:02:55 > 0:02:57so how can somebody like me
0:02:57 > 0:03:02buy a house? And I just thought it wasn't something that I could do.
0:03:02 > 0:03:04So, the moment has arrived for Yvonne
0:03:04 > 0:03:06to get her own house in order.
0:03:06 > 0:03:09And under the government's Right to Buy scheme, she'd love to
0:03:09 > 0:03:13finally buy the council house she's rented for the past 15 years.
0:03:15 > 0:03:17It's scary, don't get me wrong,
0:03:17 > 0:03:21I've never done this before, but I'm ready to rock and roll.
0:03:21 > 0:03:23Ready to give it my best.
0:03:23 > 0:03:24Also ready to rock and roll
0:03:24 > 0:03:27is personal finance expert Simon Read
0:03:27 > 0:03:31who's on a mission to keep Yvonne's cash flow on the right track.
0:03:32 > 0:03:36What do you need to do to be able to buy your own home?
0:03:36 > 0:03:40Um, I think I need to really just be able to afford it.
0:03:40 > 0:03:43THEY LAUGH
0:03:43 > 0:03:44Yeah, and believe that I can.
0:03:44 > 0:03:48Cos it was something that I didn't believe that I could ever do.
0:03:48 > 0:03:50And you ended up homeless for a time as well?
0:03:50 > 0:03:53- So having a home is really important to you.- Definitely.
0:03:53 > 0:03:56Definitely, definitely, definitely.
0:03:56 > 0:04:03You know, it's the thought of losing my home is the worst thought ever.
0:04:03 > 0:04:08- I think I probably fear that more than death.- Well, Yvonne,
0:04:08 > 0:04:11fortunately, this personal finance expert has a plan to
0:04:11 > 0:04:14give your house deposit a good kick-start.
0:04:14 > 0:04:18He's found a way you can make some easy money
0:04:18 > 0:04:20literally on your own doorstep.
0:04:21 > 0:04:24Yvonne's got not one, not two,
0:04:24 > 0:04:28but three parking spaces she could potentially rent out.
0:04:28 > 0:04:31And as she lives round the corner from Luton airport,
0:04:31 > 0:04:33there should be no shortage of takers.
0:04:33 > 0:04:34Ka-ching!
0:04:36 > 0:04:40- Did you know you can make money out of car-parking spaces?- No, I didn't.
0:04:40 > 0:04:42- LAUGHS:- Sounds odd, doesn't it? - Yes, it does.
0:04:42 > 0:04:45You know, if you have a free car-parking space, you can
0:04:45 > 0:04:47- effectively rent it out. - Really?- Yeah.
0:04:47 > 0:04:50- Now, you're quite near to an airport.- I am. And a train station.
0:04:50 > 0:04:52And a train station. We've talked to an online agency
0:04:52 > 0:04:54which manages these things
0:04:54 > 0:04:57and knows the prices and how much you could charge.
0:04:57 > 0:04:59They reckon that you could get...
0:04:59 > 0:05:02- Are you ready for this? - I'm grounding myself.
0:05:02 > 0:05:05For these two car parking spaces, you could earn...
0:05:05 > 0:05:07- £2,000 a year.- Really?
0:05:07 > 0:05:10£2,000 a year for something you've already got, you don't
0:05:10 > 0:05:12have to do anything else, you sign up with an agency,
0:05:12 > 0:05:15- they sort it all out for you. - That would be brilliant.
0:05:15 > 0:05:17And do you know, there's lots of ways where you can make extra
0:05:17 > 0:05:19money actually by doing very little?
0:05:19 > 0:05:23Yeah. I like this idea. I really like it.
0:05:23 > 0:05:25So, Yvonne could be set to
0:05:25 > 0:05:28rake in an extra £2,000 a year
0:05:28 > 0:05:30by renting out two parking spaces.
0:05:30 > 0:05:34Because the council currently owns the house, if she wants to do
0:05:34 > 0:05:37it straight away, she'd have to check with them first.
0:05:37 > 0:05:40But if she achieves her goal of buying the property,
0:05:40 > 0:05:43that extra cash could soon be in her pocket.
0:05:45 > 0:05:50Let's see if we can get her even closer to affording that deposit.
0:05:50 > 0:05:53Juggling her busy workload takes a lot of effort and coordination,
0:05:53 > 0:05:56and to do that, Yvonne likes to get out of her house
0:05:56 > 0:05:59and plough through it all in the local cafe.
0:06:01 > 0:06:02Why go to a cafe, Yvonne?
0:06:02 > 0:06:06It's a nice, peaceful place so I can get a lot done.
0:06:06 > 0:06:08So when you go to work in a cafe, even though
0:06:08 > 0:06:11you're paying nothing to sit in the cafe,
0:06:11 > 0:06:15- you're paying for your refreshments, for any food you buy...- Yes.
0:06:15 > 0:06:18- So, that gets quite expensive, doesn't it?- It can do.
0:06:18 > 0:06:22- If you are spending £20 a week in a cafe every week...- Yeah.
0:06:22 > 0:06:24..that's £1,000 a year.
0:06:24 > 0:06:26- Wow.- It's a lot of money, isn't it?
0:06:26 > 0:06:29- It is.- A lot of money just for the convenience of sitting in a cafe.
0:06:29 > 0:06:32- What I'm going to suggest to you is we find somewhere else...- OK.
0:06:32 > 0:06:35..where you can get a nice location.
0:06:35 > 0:06:38- There's other things going on, but you don't have to pay anything.- Ah.
0:06:38 > 0:06:41OK. I'm up for that, that sounds good.
0:06:41 > 0:06:47I didn't realise that it would be that big a spend.
0:06:47 > 0:06:50Ah, but fear not.
0:06:50 > 0:06:54Simon's got just the place to work without spending any money.
0:06:54 > 0:06:55The local library.
0:06:55 > 0:06:58And if you're worried that that might be a bit stuffy, well,
0:06:58 > 0:07:01a chat with head librarian Alex
0:07:01 > 0:07:04reveals just how much libraries have changed.
0:07:04 > 0:07:08So, Alex, what can the library offer somebody like me
0:07:08 > 0:07:14who need quiet-ish space and to do my normal daily work.
0:07:14 > 0:07:17What we try to do is obviously make it a welcoming environment.
0:07:17 > 0:07:18It's still free access for everybody,
0:07:18 > 0:07:20so you aren't getting charged for anything.
0:07:20 > 0:07:24My experience of libraries is like ,"Shh. Keep quiet."
0:07:24 > 0:07:26We are trying to get rid of the shoosh code.
0:07:26 > 0:07:29Obviously, we do know that some customers still want a quiet
0:07:29 > 0:07:32area to study, to relax, and take time out,
0:07:32 > 0:07:34so we do have a designated area for that,
0:07:34 > 0:07:35but the majority of the library,
0:07:35 > 0:07:38the first two floors are available to talk and things like that.
0:07:38 > 0:07:42That's really, really good. It will be quite handy for somebody like me.
0:07:42 > 0:07:45Hang on a second, with a motivational speaking business
0:07:45 > 0:07:47and a gospel choir to orchestrate,
0:07:47 > 0:07:50Yvonne's mobile phone hardly stops ringing.
0:07:50 > 0:07:52Isn't that a no-no in a library?
0:07:52 > 0:07:54What is the policy on phones ringing?
0:07:54 > 0:07:56I'm quite happy for a phone to ring.
0:07:56 > 0:07:59If you're in the quiet room or in a designated quiet study area,
0:07:59 > 0:08:03we would ask you to take that call downstairs in the more social area.
0:08:03 > 0:08:06You can even take your food and drink into these social areas.
0:08:06 > 0:08:08So if Yvonne brought her own lunch,
0:08:08 > 0:08:11she could slash her annual
0:08:11 > 0:08:13spend by about £700.
0:08:13 > 0:08:15On top of that, while she's here,
0:08:15 > 0:08:18Yvonne spots another potential saving.
0:08:18 > 0:08:22She regularly holds motivational seminars, so could the library's
0:08:22 > 0:08:26conference rooms work out cheaper than the usual venue she rents?
0:08:26 > 0:08:29How much is it for, say, two hours?
0:08:29 > 0:08:32How much would it cost me to hire your facilities?
0:08:32 > 0:08:36It's rented on an hourly basis, so a two-hour basis would be £25.
0:08:36 > 0:08:39This is obviously cheaper the more hours you would have as well.
0:08:39 > 0:08:43Wow. That's half of what Yvonne currently pays.
0:08:43 > 0:08:47And as she's planning to expand her business, switching to the library
0:08:47 > 0:08:48would save around £600 a year
0:08:48 > 0:08:51if she held two seminars a month.
0:08:54 > 0:08:55Simon catches up with Yvonne
0:08:55 > 0:08:59in the library's theatre to find out what she thinks.
0:08:59 > 0:09:02And it looks like the bright lights have gone to his head.
0:09:02 > 0:09:06So here we are, ladies and gentlemen, boys and girls,
0:09:06 > 0:09:08but most of all, Yvonne.
0:09:08 > 0:09:12- You're still at the library...- Yeah. - ..in this wonderful theatre space,
0:09:12 > 0:09:16- what have you learned today? - You get free Wi-Fi.- Free Wi-Fi.
0:09:16 > 0:09:19The rates are quite cheap as well in terms of
0:09:19 > 0:09:21- if I wanted to have a conference. - Yes, there's conference rooms.
0:09:21 > 0:09:24There's conference rooms. There's this beautiful theatre.
0:09:24 > 0:09:29- There are areas that I can speak in. - Yeah.- I can answer my phone.- Yeah.
0:09:29 > 0:09:31My phone can ring in the library.
0:09:31 > 0:09:33So you can take business calls,
0:09:33 > 0:09:37- deal with the pressing needs of the day.- Definitely.
0:09:37 > 0:09:40Libraries across the country have had to adapt and change
0:09:40 > 0:09:42in the past few years,
0:09:42 > 0:09:46so it's worth checking out what the ones in your area have got to offer.
0:09:46 > 0:09:50It's pretty much a very cool place AND, the most important thing,
0:09:50 > 0:09:52it's for half the cost.
0:09:52 > 0:09:55So you can save an awful lot of money by coming here rather
0:09:55 > 0:09:57- than going to the cafes.- Yes.
0:09:57 > 0:10:00- Definitely.- So, the question is, Yvonne,
0:10:00 > 0:10:04- will you do it?- Yes, I will.
0:10:04 > 0:10:08For Yvonne, using the local library as a workplace as well as a base
0:10:08 > 0:10:12for her expanding business would give another £1,300
0:10:12 > 0:10:13towards her deposit.
0:10:15 > 0:10:18And there are more savings to be made even closer to home.
0:10:20 > 0:10:23Because Yvonne is so busy building up her business
0:10:23 > 0:10:25and running her gospel choir,
0:10:25 > 0:10:29it doesn't leave much time for cooking elaborate family meals.
0:10:29 > 0:10:32As a result, she often goes for convenience,
0:10:32 > 0:10:36spending nearly £2,000 a year on takeaways.
0:10:36 > 0:10:37But Yvonne and her daughter, Thea...
0:10:37 > 0:10:40- Hello, ladies.- Hi!
0:10:40 > 0:10:42..are about to find out how easily
0:10:42 > 0:10:45and cheaply anyone can knock up
0:10:45 > 0:10:48a tasty and quick family meal at home.
0:10:48 > 0:10:51Showing them the way is celebrity chef Aldo Zilli.
0:10:51 > 0:10:56I'm here today to explain to you and show you some short cuts
0:10:56 > 0:11:01- into making great food with very little money.- OK.
0:11:01 > 0:11:04- Are you up for that? - I'm absolutely up for that.
0:11:04 > 0:11:07As Yvonne rustles up a quick sauce, Aldo demonstrates
0:11:07 > 0:11:12just how easy it is to make pasta from scratch in minutes.
0:11:13 > 0:11:17I've got my eggs and my flour.
0:11:17 > 0:11:19I've put olive oil in here
0:11:19 > 0:11:20and a little bit of salt.
0:11:20 > 0:11:22Seems a doddle so far.
0:11:24 > 0:11:26And you keep your rolling pin in the freezer.
0:11:26 > 0:11:29It's always good, so it doesn't stick anywhere.
0:11:29 > 0:11:31Now, I'm no Cordon Bleu chef,
0:11:31 > 0:11:34but that's definitely starting to look like pasta to me.
0:11:36 > 0:11:39So there's the shape. Very rustically cut.
0:11:40 > 0:11:42OK? Don't need to dry this at all.
0:11:42 > 0:11:44As soon as you make it, you can cook it, basically.
0:11:44 > 0:11:46How long does the pasta take to cook?
0:11:46 > 0:11:50The pasta takes two minutes to cook. Once the water is boiling, OK?
0:11:50 > 0:11:51you put the pasta in.
0:11:51 > 0:11:54As soon as the water comes back to boil,
0:11:54 > 0:11:56then your pasta's ready.
0:11:56 > 0:11:58OK, so it's not long at all.
0:11:59 > 0:12:02I'm going to pour all of this in there,
0:12:02 > 0:12:05including a little bit of water and then you get your pan...
0:12:07 > 0:12:09- Toss it, sorry. - THEY LAUGH
0:12:09 > 0:12:13And in just ten minutes, it's ready.
0:12:13 > 0:12:14Voila!
0:12:14 > 0:12:16- Voila!- Voila!
0:12:16 > 0:12:18Voila indeed!
0:12:18 > 0:12:22Yvonne won't always have a celebrity chef on hand to help,
0:12:22 > 0:12:23so the question is,
0:12:23 > 0:12:27will she be convinced she can whip up tucker like this back at home?
0:12:27 > 0:12:30So, Aldo, I'm stuffing my face here,
0:12:30 > 0:12:32I'm enjoying this food so much.
0:12:32 > 0:12:36But I want to know, you know, how much would this cost really,
0:12:36 > 0:12:38you know, maybe to feed four people?
0:12:38 > 0:12:41All of that would probably cost a pound a portion.
0:12:41 > 0:12:43That's a bargain.
0:12:43 > 0:12:47So, it seems those takeaways really could become a thing of the past.
0:12:47 > 0:12:50The thing that's really blowing my mind is the fact it was like
0:12:50 > 0:12:52so quick to make.
0:12:52 > 0:12:55Now, we can run to the shop and buy pasta,
0:12:55 > 0:12:58but it just seems a lot quicker to do it yourself, if you know how to.
0:12:58 > 0:13:00Well, it's quicker than running to the shop, that's for sure.
0:13:00 > 0:13:03If Yvonne halved her takeaway spending
0:13:03 > 0:13:07from £150 to £75 a month, over a year,
0:13:07 > 0:13:09that would be a saving of £900.
0:13:11 > 0:13:15But Simon's only just warming up, and later in the programme,
0:13:15 > 0:13:18he's going to tackle Yvonne's expensive champagne habit
0:13:18 > 0:13:21with a test to tickle her taste buds.
0:13:21 > 0:13:24Is it worth her forking out for the finer fizz?
0:13:24 > 0:13:27- Are you sure, now?- No, I'm not sure. - HE LAUGHS
0:13:27 > 0:13:30- So what I propose to do... - BOTH:- Is taste them all again!
0:13:30 > 0:13:33THEY LAUGH
0:13:34 > 0:13:37And we'll be chatting to Yvonne later in the programme.
0:13:37 > 0:13:39But first off, Sarah Pennells is here along with Kelly Eroglu,
0:13:39 > 0:13:43who, in a moment, well tell us how her family of four manages to
0:13:43 > 0:13:46feast like kings but on a shoestring budget.
0:13:46 > 0:13:49Now, Sarah, Yvonne, she certainly likes a treat or two, doesn't she?
0:13:49 > 0:13:52Absolutely, and there's nothing wrong with treating yourself.
0:13:52 > 0:13:54But is there a way of doing that on a budget, though?
0:13:54 > 0:13:57Well, I think if you are treating yourself, you've got to work out
0:13:57 > 0:13:59what your real priorities are.
0:13:59 > 0:14:01What's the thing you really love and where can you compromise?
0:14:01 > 0:14:04So it might mean getting different brands.
0:14:04 > 0:14:06It might mean staying in more and cooking in your own kitchen
0:14:06 > 0:14:09rather than going out for meals. Or it might just mean you spend
0:14:09 > 0:14:11a bit more time being creative and doing hobbies
0:14:11 > 0:14:14rather than maybe going to the cinema and things like that.
0:14:14 > 0:14:16Yvonne, you know, she's got some real problems,
0:14:16 > 0:14:19but she's saving for a house.
0:14:19 > 0:14:21Does it help to actually have a goal in mind
0:14:21 > 0:14:23when you're trying to save money?
0:14:23 > 0:14:26I think it's a huge help to have a goal, whatever it is you're doing.
0:14:26 > 0:14:29So, whether you are saving for a deposit for a house,
0:14:29 > 0:14:31or trying to become debt-free, I think
0:14:31 > 0:14:34it's really important to focus on what that means for you.
0:14:34 > 0:14:36So, what will having a house mean for you?
0:14:36 > 0:14:38How will it transform your life?
0:14:38 > 0:14:40What will being debt-free mean to you?
0:14:40 > 0:14:42The goal is the real motivator,
0:14:42 > 0:14:44and that's the thing that will keep you on track.
0:14:44 > 0:14:48Now, Kelly, you perform what I can only describe as a miracle,
0:14:48 > 0:14:53because you manage to feed your family for the entire week for £20.
0:14:53 > 0:14:56And you're going to really quite high-end supermarkets too.
0:14:56 > 0:14:59Basically, it's all about time and being organised.
0:14:59 > 0:15:01Going in to the supermarkets at the right time.
0:15:01 > 0:15:05I tend to go to the reduced aisles. They have a specific reduced bench.
0:15:05 > 0:15:09I'll always pick up the high-end meats, the steaks, the fish,
0:15:09 > 0:15:12the salmon, so we always have a really good high quality meal.
0:15:12 > 0:15:14If I didn't buy the reduced product,
0:15:14 > 0:15:15it would cost me an absolute fortune
0:15:15 > 0:15:17and I wouldn't be able to do it
0:15:17 > 0:15:19because I don't have a luxury budget.
0:15:19 > 0:15:21When is the best time to get all those bargains?
0:15:21 > 0:15:22A really good rule of thumb is
0:15:22 > 0:15:25if you go in and you speak to a friendly-looking member of staff,
0:15:25 > 0:15:28they'll always tell you when the reduction times are.
0:15:28 > 0:15:30Presumably, though, it's been reduced because it has a very
0:15:30 > 0:15:32short shelf life, otherwise, why would they reduce it?
0:15:32 > 0:15:35Basically, sell-by-date means when they are supposed to sell it by.
0:15:35 > 0:15:38Use-by-date is the one you're supposed to watch.
0:15:38 > 0:15:41If something doesn't smell right or doesn't look right, bin it.
0:15:41 > 0:15:43- So what kind of savings are you making?- Oh, my gosh.
0:15:43 > 0:15:45Over the last four or five years,
0:15:45 > 0:15:47I'd worked out around about £18,000.
0:15:47 > 0:15:49- Wow.- Which is a hell of a lot because
0:15:49 > 0:15:51previously, for my two children and myself,
0:15:51 > 0:15:54I would have spent something in the region of £90 or £120
0:15:54 > 0:15:58a week, and the majority of that was convenience foods.
0:15:58 > 0:15:59Give us some Kelly's tips.
0:15:59 > 0:16:02Ooh, well, I've got a really good website.
0:16:02 > 0:16:04If you go on there, I've got all my reduction times
0:16:04 > 0:16:05in the different supermarkets
0:16:05 > 0:16:08and hints and tips and different things on there to help you
0:16:08 > 0:16:10- on that journey to saving money. - Tell me now. I want to know now.
0:16:10 > 0:16:13Oh, one of the main tips is to go in with an open mind.
0:16:13 > 0:16:15So don't go in there thinking you want to make spaghetti bolognese
0:16:15 > 0:16:18that night. Go in, see what they've got, and work with that.
0:16:18 > 0:16:22Recently, I bought corn-fed organic chicken. It was £18.
0:16:22 > 0:16:26Who would pay this? I just don't know. £2.20, I picked it up for.
0:16:26 > 0:16:28Three meals out of that, so that was fantastic.
0:16:28 > 0:16:31I paid £1.55 for two sea bass.
0:16:31 > 0:16:33Had some left over rice from the weekend.
0:16:33 > 0:16:34I jazzed it up a bit with a bit of chorizo,
0:16:34 > 0:16:36some different herbs, some tomatoes,
0:16:36 > 0:16:39popped it in, stuffed sea bass, less than a pound per person.
0:16:39 > 0:16:41Are you taking all this in, Sarah?
0:16:41 > 0:16:42Every single word. Really good tips.
0:16:42 > 0:16:44Yeah? You're going to be following some of this,
0:16:44 > 0:16:46- I think, aren't you?- Absolutely.
0:16:46 > 0:16:48I mean, I do think, before you go anywhere near a supermarket,
0:16:48 > 0:16:51you should check your own cupboards. That's my first tip.
0:16:51 > 0:16:53Because, otherwise, you end up buying stuff you already have.
0:16:53 > 0:16:56And if you've got things like vegetables that are looking
0:16:56 > 0:16:58a little bit tired, a bit more mature than maybe
0:16:58 > 0:17:00they should be, chuck them in a stew or a soup.
0:17:00 > 0:17:02Put it in the freezer if you can't eat it now.
0:17:02 > 0:17:04That way, your money will go further.
0:17:04 > 0:17:05Thank you very much, ladies.
0:17:05 > 0:17:09Now, my old mum used to say that loyalty always pays.
0:17:09 > 0:17:11But, unfortunately, when it comes to big companies,
0:17:11 > 0:17:15too often that isn't the case. In fact, the opposite can be true.
0:17:15 > 0:17:20It's something that drives personal finance expert Richard Fenton mad.
0:17:20 > 0:17:22So, here's his guide to stop you losing out.
0:17:25 > 0:17:29So this really has to be one of my absolute biggest bugbears.
0:17:29 > 0:17:30The way that too often,
0:17:30 > 0:17:32big companies take your loyalty for granted.
0:17:32 > 0:17:36And for my money, it's especially the case with insurance companies.
0:17:36 > 0:17:39They make it sound like they're doing you a favour when they write
0:17:39 > 0:17:43to you offering to automatically renew your policy for another year.
0:17:43 > 0:17:44But they're not.
0:17:47 > 0:17:49So that renewal letter comes through the door.
0:17:49 > 0:17:52So helpful, I'd forgotten the home insurance was about to run out.
0:17:52 > 0:17:54So what do I do?
0:17:54 > 0:17:56The sensible thing to do would be to look and see
0:17:56 > 0:17:58if the cost of the policy has gone up.
0:17:58 > 0:18:00And in most cases, it probably has.
0:18:02 > 0:18:04Not that this increase has always been made clear.
0:18:04 > 0:18:08They'll typically tell you the new rate, but not the old one.
0:18:08 > 0:18:11And they'll say, "Don't worry. You don't need to do a thing."
0:18:11 > 0:18:13Of course, they don't want you to do a thing
0:18:13 > 0:18:15because if you check what you paid last year,
0:18:15 > 0:18:19you'd see that your car or home premiums have most likely rocketed,
0:18:19 > 0:18:22sometimes by as much as a quarter.
0:18:22 > 0:18:23These kinds of auto-renewals
0:18:23 > 0:18:27cost the average householder almost £200 a year,
0:18:27 > 0:18:30and the real sting in the tail is that the company you've
0:18:30 > 0:18:33stuck with may well be charging you up to four times as much
0:18:33 > 0:18:36as a new customer would pay for the same policy.
0:18:37 > 0:18:39And it's all down to marketing.
0:18:39 > 0:18:43New customers get a better deal to entice them over. So shop around.
0:18:43 > 0:18:45And then YOU become the new customer
0:18:45 > 0:18:47and you're the one that's being enticed.
0:18:47 > 0:18:50Car insurance is the classic example.
0:18:50 > 0:18:546 million cars have their cover renewed automatically
0:18:54 > 0:18:57every year without their owners checking a single other quote to see
0:18:57 > 0:18:59if they can find a better deal.
0:18:59 > 0:19:01And that means motorists could be losing out
0:19:01 > 0:19:05by as much as £1.2 billion a year.
0:19:06 > 0:19:11But if you haggle, it's a whole different story, my friends.
0:19:11 > 0:19:13Only the other day, I had one chap come to me
0:19:13 > 0:19:17and he'd managed to save himself £100 on his breakdown cover
0:19:17 > 0:19:21just through one simple call and a little bit of haggling.
0:19:21 > 0:19:24The good news is that challenging rising renewal quotes
0:19:24 > 0:19:27is about to get a whole lot easier as insurers are being told
0:19:27 > 0:19:32they should now show the previous year's price alongside the new one,
0:19:32 > 0:19:34giving customers the choice to cancel.
0:19:34 > 0:19:37But that's not enough for Kalpana Fitzpatrick.
0:19:37 > 0:19:40She writes an online blog about saving money.
0:19:40 > 0:19:42And she believes that companies should be much
0:19:42 > 0:19:46clearer on what we are signing up to right from the off.
0:19:48 > 0:19:51- So how widespread is this? - It's everywhere, basically.
0:19:51 > 0:19:54It's your car insurance, if you're signing up for free trials,
0:19:54 > 0:19:56it's gym membership.
0:19:56 > 0:19:58Do you think companies are deliberately making it
0:19:58 > 0:20:01difficult for people to realise what they're signing up to
0:20:01 > 0:20:04and to ultimately get away from it in the end?
0:20:04 > 0:20:06I think companies have a moral responsibility
0:20:06 > 0:20:07to their consumers here.
0:20:07 > 0:20:09If they are going to take a payment out,
0:20:09 > 0:20:11they should give them some sort of notice.
0:20:11 > 0:20:13But we have had cases where
0:20:13 > 0:20:15this hasn't been happening, unfortunately.
0:20:15 > 0:20:18And consumers are being caught out and it's putting them
0:20:18 > 0:20:20out of pocket of hundreds of pounds here.
0:20:20 > 0:20:21Especially when it's insurance policies.
0:20:21 > 0:20:24So what advice would you give to consumers to avoid getting
0:20:24 > 0:20:26trapped in these auto-renewals?
0:20:26 > 0:20:28I think it is up to the consumer here to be proactive
0:20:28 > 0:20:31and take responsibility.
0:20:31 > 0:20:34Open up your e-mails, open up your mail and see what it's saying
0:20:34 > 0:20:36because sometimes people don't realise that these
0:20:36 > 0:20:39payments are coming out of their account. And as soon as you put your
0:20:39 > 0:20:42bank details in, that's when you're in that danger zone, I'd say.
0:20:42 > 0:20:44That's when the alarm bells start ringing.
0:20:44 > 0:20:45Absolutely, absolutely, yes.
0:20:45 > 0:20:48Once the money comes out, it's really hard to get it back.
0:20:48 > 0:20:50So what have we all learnt?
0:20:50 > 0:20:53Don't rely on companies to manage your finances for you.
0:20:53 > 0:20:58Do your research. Check your e-mails. Haggle.
0:20:58 > 0:21:00And take responsibility for your own renewals.
0:21:03 > 0:21:04I'm with James Daley
0:21:04 > 0:21:07who campaigns on behalf of the consumer for shorter
0:21:07 > 0:21:09and fairer Ts and Cs.
0:21:09 > 0:21:12James, there are stories in the paper, particularly the
0:21:12 > 0:21:15older generation now who are letting these auto-renewals just
0:21:15 > 0:21:17go on and on and on and they're actually wasting
0:21:17 > 0:21:18hundreds of pounds a year.
0:21:18 > 0:21:21Well, yes, and unsurprisingly, that's caught the attention of
0:21:21 > 0:21:23the regulator who's starting to take the view
0:21:23 > 0:21:25that it could be exploitation and
0:21:25 > 0:21:27insurers are really under pressure to be a bit fairer with
0:21:27 > 0:21:29customers, and at the very least, write to them
0:21:29 > 0:21:32and get in touch with them if they've been with them for years
0:21:32 > 0:21:34and say, "Hey, you've been with us five years, ten years,
0:21:34 > 0:21:37"you could be paying way too much for your insurance."
0:21:37 > 0:21:39And that's what you've got to be really careful of.
0:21:39 > 0:21:41The only way to make sure you're getting a good deal is to
0:21:41 > 0:21:44shop around every year, which is a pain, I know, but you have to do it.
0:21:44 > 0:21:47Now, as far as the terms and conditions are concerned,
0:21:47 > 0:21:49the stuff that we all hate, you've been looking at them
0:21:49 > 0:21:52and there are some real humdingers out there, isn't there?
0:21:52 > 0:21:54Oh, I mean, it's an absolute minefield.
0:21:54 > 0:21:56Some of them are longer than George Orwell's Animal Farm,
0:21:56 > 0:21:58longer than The Lion, The Witch And The Wardrobe.
0:21:58 > 0:22:02We're talking 40,000 words for an insurance policy document and,
0:22:02 > 0:22:04of course, they're not even a fraction
0:22:04 > 0:22:05as interesting as those novels.
0:22:05 > 0:22:07I've brought one long for you today, James,
0:22:07 > 0:22:13this is just ten pages of 114-page contract from a UK bank.
0:22:16 > 0:22:20Mind your feet. I'll tell you what, it's very lengthy, isn't it?
0:22:20 > 0:22:23Well, I know that one. It's actually over 70,000 words long.
0:22:23 > 0:22:25It's just unacceptable. There's no excuse for it.
0:22:25 > 0:22:29What we want are shorter documents, written in a language that
0:22:29 > 0:22:32everybody can understand, and we don't think that's too much to ask.
0:22:32 > 0:22:36I totally agree. OK, James, give our viewers some hints and tips.
0:22:36 > 0:22:38Well, if you're buying anything, but especially insurance or
0:22:38 > 0:22:42banking products, make sure you read any summary documents that they
0:22:42 > 0:22:46give you, but don't worry about these 40,000, 70,000-word Ts and Cs.
0:22:46 > 0:22:49The legislation, the rules and regulations
0:22:49 > 0:22:52make it really clear that anything onerous has to be
0:22:52 > 0:22:55made really clear to you before you enter into that agreement with them.
0:22:55 > 0:22:57So take some comfort from that,
0:22:57 > 0:23:01don't get bogged down in reading all this legal and financial jargon,
0:23:01 > 0:23:03but do keep your eyes open whenever you are buying anything
0:23:03 > 0:23:06because there's often some sneaky things hiding in there to trick you.
0:23:06 > 0:23:09I agree. James, I'm going to go and have a chat with some people
0:23:09 > 0:23:11in Nottingham. In the meantime, I'm going to give you
0:23:11 > 0:23:13a free cardiovascular workout.
0:23:13 > 0:23:15- You couldn't roll that up for me, could you?- Right, thank you.
0:23:15 > 0:23:18Cheers, buddy. Thanks a lot.
0:23:18 > 0:23:20I want to find out, when it comes to contracts,
0:23:20 > 0:23:22do the shoppers of Nottingham
0:23:22 > 0:23:25actually know what they're signing up to?
0:23:25 > 0:23:27When you signed up for your phone contracts,
0:23:27 > 0:23:31- did either of you read the Ts and Cs?- No, I didn't, no.- No.
0:23:31 > 0:23:35- Why not?- It's just long, innit? - Innit! It takes too long.- It is!
0:23:35 > 0:23:38- Well, they are, innit?- Yeah.- Yeah.
0:23:38 > 0:23:39Did you read the small print?
0:23:39 > 0:23:42- No.- You didn't read the Ts and Cs at all?- Not at all, no.
0:23:42 > 0:23:44- Tell me why not. - It's just too long, isn't it?
0:23:44 > 0:23:47It takes time and you just want to sign it and get it done.
0:23:47 > 0:23:51People rarely have time to go through the entire document.
0:23:51 > 0:23:52I don't.
0:23:52 > 0:23:56- I only go to it when I need to make a claim or anything like that.- Yeah.
0:23:56 > 0:23:58What about auto-renewal?
0:23:58 > 0:24:00Would you know what I'm talking about when I say that?
0:24:00 > 0:24:04- That's what I do, actually. - You are on auto-renew?- Yeah.
0:24:04 > 0:24:06Every year, I don't have to worry about it. They just take it out.
0:24:06 > 0:24:08Do you know, Colin,
0:24:08 > 0:24:11you really need to get one of our money makeover experts round to sort
0:24:11 > 0:24:14you out because we could probably save you an absolute fortune.
0:24:14 > 0:24:16Do you ever do auto-renew?
0:24:17 > 0:24:19- No.- Why is that?
0:24:19 > 0:24:2112 months seems like a nice period to review it
0:24:21 > 0:24:22and look at it and see if I can save any money.
0:24:22 > 0:24:25I'm hoping you're going to give me the right answer now.
0:24:25 > 0:24:26When you pay for your policy,
0:24:26 > 0:24:29do you pay for it in one lump sum or do you pay monthly?
0:24:29 > 0:24:32- No, no, monthly.- Oh, no! That was the wrong answer, Colin.
0:24:32 > 0:24:35HE LAUGHS Can I be rude and shake you?
0:24:35 > 0:24:37You've got to start shopping around.
0:24:37 > 0:24:41Do you do auto-renewal with your car insurance?
0:24:41 > 0:24:45Um, no. But I have been with the same company for about five years.
0:24:45 > 0:24:47And whenever they send me the renewal,
0:24:47 > 0:24:51I ring them up and tell I'm going to cancel, cancel, cancel.
0:24:51 > 0:24:54They tell me how important I am and then they lower the price.
0:24:54 > 0:24:56It would be advisable for you to phone around,
0:24:56 > 0:24:58even have a little bargain with the company,
0:24:58 > 0:24:59see if you can get that down,
0:24:59 > 0:25:02and if you can afford it, pay it in one lump some.
0:25:02 > 0:25:04Don't start paying these silly interest charges that they
0:25:04 > 0:25:05- put on top.- I didn't know that.
0:25:05 > 0:25:08And if you had a message for all the financial institutions,
0:25:08 > 0:25:11the banks, the gyms, everybody about these lengthy
0:25:11 > 0:25:13Ts and Cs, what would it be?
0:25:13 > 0:25:14We're supporting you, we're bringing
0:25:14 > 0:25:17money into your business, stop treating us like idiots.
0:25:17 > 0:25:21- Couldn't have said it better myself. - Thank you.- And there you have it.
0:25:21 > 0:25:25Not one person I've met today likes long and wordy Ts and Cs.
0:25:25 > 0:25:27So, come on, keep them simple.
0:25:30 > 0:25:34Now, do you dream of taking early retirement? I know I certainly do.
0:25:34 > 0:25:38Well, sadly for many, it seems that dream will never come true.
0:25:38 > 0:25:41A recent report suggested that today's youngsters may have
0:25:41 > 0:25:45to work into their 80s before they can afford to retire.
0:25:45 > 0:25:48But it seems some of you are desperate to give up work
0:25:48 > 0:25:50long before then.
0:25:53 > 0:25:57- 50. I think 50 is a good age to retire.- Yeah.
0:25:57 > 0:26:00I don't know, you'd be bored, though. He would be bored.
0:26:00 > 0:26:03He's saying 50 now, but he's a workaholic. He'd be bored.
0:26:03 > 0:26:05I'm a single mum,
0:26:05 > 0:26:06and have been for the last 13 years,
0:26:06 > 0:26:10so obviously I've got to think about when I'm old and grey.
0:26:10 > 0:26:14Hopefully, he might keep me, but I can't guarantee on him.
0:26:14 > 0:26:17So I've had to start putting money away.
0:26:17 > 0:26:21A pension? I couldn't tell you. I don't have a clue about a pension.
0:26:21 > 0:26:24Because I'm actually totally anti-pensions.
0:26:24 > 0:26:26I do try and plan for the future,
0:26:26 > 0:26:30but I wouldn't say pensions is something on my mind just yet, no.
0:26:30 > 0:26:32Myself? Set up a few more online businesses
0:26:32 > 0:26:34and just carry on doing that.
0:26:34 > 0:26:36I don't think the state pension is enough anyway,
0:26:36 > 0:26:39so I think people do have to save up themselves, really.
0:26:43 > 0:26:46Now, if you want to buy something special, you usually
0:26:46 > 0:26:49either save up for it or maybe pay for it using a credit card or loan.
0:26:49 > 0:26:52However, a growing number of people are asking others
0:26:52 > 0:26:55to pay for the things that they want.
0:26:55 > 0:26:58Joining me now are Olivia and Kasha who do just that.
0:26:58 > 0:27:02Now, Olivia, you run a website that helps people organise
0:27:02 > 0:27:04- something known as crowdfunding. - Yes.
0:27:04 > 0:27:06Crowdfunding is quite a new term.
0:27:06 > 0:27:09We've probably started to hear it in the last sort of two or three,
0:27:09 > 0:27:11four years. But actually it's not new.
0:27:11 > 0:27:14If you think about being in the church on a Sunday morning
0:27:14 > 0:27:17when the vicar comes round and everybody puts a few
0:27:17 > 0:27:21quid into a plate to fix the church roof, you are crowdfunding.
0:27:21 > 0:27:24There are websites that allow you to crowd fund for a creative project.
0:27:24 > 0:27:26If you're a band, and you want to release an album and you
0:27:26 > 0:27:30can't get onto a label, you can ask the wider community to support you.
0:27:30 > 0:27:33If you want to start a business, people can crowdfund that
0:27:33 > 0:27:34and they may get some kind of return.
0:27:34 > 0:27:37They may get a bit of equity in that business.
0:27:37 > 0:27:41And we heard a student from Ghana who wanted to study in the UK
0:27:41 > 0:27:45crowdfunding his tuition, his fees here in the UK.
0:27:45 > 0:27:46So you do hear those stories.
0:27:46 > 0:27:50And our website, Patchwork, is used for any occasion.
0:27:50 > 0:27:52For weddings or birthdays, Christmas
0:27:52 > 0:27:55to collectively buy a gift for somebody that they want
0:27:55 > 0:27:58rather than surprising them with 25 things that they don't.
0:27:58 > 0:28:01And, Kasha, what's your experience and how did you get involved?
0:28:01 > 0:28:05For my son's third birthday, we wanted to take him
0:28:05 > 0:28:09to the theatre to see The Lion King, so all the grandparents
0:28:09 > 0:28:14and aunts and uncles and friends who wanted to contribute did.
0:28:14 > 0:28:17He was at an age where friends still wanted to buy him
0:28:17 > 0:28:20something even though he wasn't having a birthday party,
0:28:20 > 0:28:23so it worked really well and we had a really wonderful day out.
0:28:23 > 0:28:25I don't know if I'm a little bit old-fashioned,
0:28:25 > 0:28:27but I'd feel a little bit embarrassed. Some people
0:28:27 > 0:28:31might feel just uncomfortable about the whole situation, set up.
0:28:31 > 0:28:35Yeah, I know and I wouldn't have been so presumptuous as to send
0:28:35 > 0:28:39an invite to a wide group of friends, so I kept it
0:28:39 > 0:28:42within a very select group of people,
0:28:42 > 0:28:44so it worked for that purpose.
0:28:44 > 0:28:47Just chatting to you both, it actually sounds like a really
0:28:47 > 0:28:51practical and sensible way to go about doing things, doesn't it?
0:28:51 > 0:28:55Yeah, well, I think we're living in quite tough times as well,
0:28:55 > 0:28:58and the economy not being great, people are sort of struggling.
0:28:58 > 0:29:01So it makes sense to spend the money that we do have collectively
0:29:01 > 0:29:03funding things that people really want and need
0:29:03 > 0:29:06and not buying each other a load of stuff that ends up in landfill
0:29:06 > 0:29:09just because we feel compelled to do it because it's someone's
0:29:09 > 0:29:12birthday or because it's Christmas or because it's their wedding.
0:29:12 > 0:29:15- Interesting stuff. Thanks, ladies. - Thank you.
0:29:15 > 0:29:18Now, earlier on, we met Yvonne who loves to spend on expensive
0:29:18 > 0:29:22treats but needs to cut back if she wants to achieve her property dream.
0:29:22 > 0:29:25Let's see if we've managed to help her out.
0:29:27 > 0:29:28Over the past few years,
0:29:28 > 0:29:32devoted mum Yvonne Sinclair has been busy with her hairdressing,
0:29:32 > 0:29:37running motivational courses and leading a gospel choir.
0:29:37 > 0:29:40Through sheer hard work, she's managed to put her sons on the
0:29:40 > 0:29:46property ladder, but that's been at the expense of buying her own home.
0:29:46 > 0:29:49I am a single parent, I'm a small-business owner,
0:29:49 > 0:29:52how can I buy a house?
0:29:52 > 0:29:56You know, I've had debt problems in the past as well,
0:29:56 > 0:29:58so how can somebody like me buy a house?
0:29:58 > 0:30:02And I just thought it wasn't something that I could do.
0:30:02 > 0:30:06Personal finance expert Simon Read has already come up with some
0:30:06 > 0:30:09great ways she can save up for a deposit.
0:30:10 > 0:30:12For these two car-parking spaces, you could earn...
0:30:12 > 0:30:15- £2,000 a year.- Really?
0:30:15 > 0:30:17Now Simon's back
0:30:17 > 0:30:21and he wants to reduce Yvonne's spending on luxury items to
0:30:21 > 0:30:25really boost her chances of putting away enough money for a deposit.
0:30:25 > 0:30:29Yvonne's cut back on what used to be an almost addictive
0:30:29 > 0:30:33spending on shoes, but she's still got around 100 pairs hidden away,
0:30:33 > 0:30:36and Simon thinks, on this one, she can turn
0:30:36 > 0:30:38a negative into a positive.
0:30:38 > 0:30:40So you've got all these shoes.
0:30:40 > 0:30:43- You keep them well...- Yes. - ..because you care about them.
0:30:43 > 0:30:48- Is there an opportunity to sell some of them?- Yes.- Do you sell them?- No.
0:30:48 > 0:30:50THEY LAUGH
0:30:50 > 0:30:52I give them away. Yeah. I could sell them.
0:30:52 > 0:30:54Could you think about that maybe?
0:30:54 > 0:30:57You know, through an online auction site or something like that?
0:30:57 > 0:30:59That is a really good idea, actually.
0:30:59 > 0:31:00Rather than giving them away.
0:31:00 > 0:31:03If you could sell 80 pairs of shoes, even if
0:31:03 > 0:31:06you only got a tenner per pair, how much money is that?
0:31:06 > 0:31:09- Can you do mental arithmetic?- No.
0:31:09 > 0:31:11- That would be £800.- £800, yeah. - £800.
0:31:11 > 0:31:15- Just from clearing out your wardrobe.- Hm. And clothes.
0:31:15 > 0:31:17- I think it's something to think about.- It is.
0:31:17 > 0:31:20- It's something to think about. - It is, it is, absolutely, actually.
0:31:20 > 0:31:22Now I'm gutted that I just threw some out.
0:31:22 > 0:31:25I literally just threw a bag of shoes out.
0:31:25 > 0:31:26But there's one pair of boots
0:31:26 > 0:31:28that Yvonne won't even dream of chucking away.
0:31:30 > 0:31:35These shoes, boots, are very significant to me.
0:31:35 > 0:31:38And I actually found these boots a couple of years ago
0:31:38 > 0:31:41when I was sorting some of my old shoes out to get rid of them.
0:31:41 > 0:31:47And I bought these shoes when I was 15 years old and I had left home.
0:31:47 > 0:31:49Some may say I ran away from home, but I left home.
0:31:49 > 0:31:52- This was really the start of your journey?- Yeah.
0:31:52 > 0:31:55After becoming homeless as a teenager,
0:31:55 > 0:31:59Yvonne vowed that one day she'd enjoy the finer things in life.
0:32:00 > 0:32:03And now every week, she treats the family to
0:32:03 > 0:32:07a bottle of bubbly as a motivation for working their socks off.
0:32:07 > 0:32:09If it's been a good week,
0:32:09 > 0:32:13she buys premium champagne at almost £35 a pop.
0:32:13 > 0:32:15Otherwise, she buys prosecco.
0:32:15 > 0:32:18But the big question is, can she tell the difference?
0:32:18 > 0:32:22To find out, Simon sets up a taste test challenge,
0:32:22 > 0:32:25joined by Yvonne's two sons, Nathan and Leon.
0:32:25 > 0:32:28What we are going to ask you to do is try
0:32:28 > 0:32:30and work out which is the cheap one, which is
0:32:30 > 0:32:34the cheap £4 cava, which is the expensive £33 champagne.
0:32:34 > 0:32:36We've also thrown into the mix a £13 prosecco
0:32:36 > 0:32:38and a £12 champagne.
0:32:38 > 0:32:41- So, Yvonne, I'd like you to go first.- OK.
0:32:41 > 0:32:43If you guys don't mind leaving the room,
0:32:43 > 0:32:44we'll call you back in when we're ready.
0:32:44 > 0:32:47- And we'll have a bit of fun with this.- OK.
0:32:47 > 0:32:48Yvonne gets tasting,
0:32:48 > 0:32:52and it looks like she has a clear idea of which is the fanciest fizz.
0:32:53 > 0:32:57- Then that way, that means that's that...- Yes.- That's that.
0:32:57 > 0:32:59- And that's that.- Are you sure now?
0:32:59 > 0:33:01- No, I'm not sure. - HE LAUGHS
0:33:01 > 0:33:04- So what I propose to do... - BOTH:- Is taste them all again!
0:33:04 > 0:33:05THEY LAUGH
0:33:05 > 0:33:08After some more, hm, essential tasting,
0:33:08 > 0:33:10- Yvonne sticks to her decision. - That's that...
0:33:10 > 0:33:12But before the results are revealed...
0:33:12 > 0:33:14- That is definitely champagne.- Ooh.
0:33:14 > 0:33:17..her sons have a go. Why not, lads?
0:33:17 > 0:33:18Eurgh.
0:33:18 > 0:33:20I believe that that one actually tastes
0:33:20 > 0:33:22like the most expensive champagne.
0:33:22 > 0:33:25- Yes.- It brought back a bit of a memory from when I was 18.- Yes.
0:33:25 > 0:33:28- When I had champagne and I didn't last the night.- Yes.
0:33:28 > 0:33:30- It was because of that.- And that reminds you of that night?
0:33:30 > 0:33:32Yes, it does.
0:33:32 > 0:33:36But will the mood fall flat when Simon reveals which fizz is which?
0:33:36 > 0:33:39And can any of them tell the difference between the best
0:33:39 > 0:33:41and the bargain booze?
0:33:41 > 0:33:43Nathan, you didn't get any right.
0:33:43 > 0:33:44Didn't think so.
0:33:44 > 0:33:47HE LAUGHS
0:33:47 > 0:33:51I will tell you, Nathan, the wine which you said was rank
0:33:51 > 0:33:56- and awful...- Yeah. - ..was the £33 champagne.
0:33:56 > 0:34:00The wine which you said, "Oh, this is champagne.
0:34:00 > 0:34:02"I remember it from my 18th birthday party.
0:34:02 > 0:34:06- "This brings back great memories..." - Did you say that, Nathan?
0:34:06 > 0:34:08..was the £4 cava.
0:34:08 > 0:34:11THEY LAUGH
0:34:11 > 0:34:15- Leon.- Hello.- You got one right.
0:34:15 > 0:34:17So I'd say to you as well, stick with the prosecco that you know.
0:34:17 > 0:34:18I definitely will.
0:34:18 > 0:34:21And now it's the turn of discerning mum Yvonne.
0:34:21 > 0:34:26Now, Yvonne, which did you think was the most expensive champagne?
0:34:26 > 0:34:30- It was the lighter-coloured one. - You thought it was the prosecco.
0:34:30 > 0:34:33The prosecco was the one that you thought was your favourite.
0:34:33 > 0:34:35So maybe there's a lesson there.
0:34:35 > 0:34:37If you switch to this brand, rather than that one,
0:34:37 > 0:34:39- you're saving £20 a bottle.- Well.
0:34:39 > 0:34:42And by the sound of it, you can enjoy it just as much. Yeah.
0:34:42 > 0:34:43Stick to the prosecco, Mum,
0:34:43 > 0:34:45it's going to be better for everyone.
0:34:45 > 0:34:48If you were to switch your habit from buying the expensive champagne
0:34:48 > 0:34:51to the cheaper prosecco every week,
0:34:51 > 0:34:52do you know how much you'd save in a year?
0:34:52 > 0:34:55- How much would I save in a year? - About £1,000.- Really?
0:34:55 > 0:34:58Yes, really, Yvonne.
0:34:58 > 0:35:01By switching to prosecco, which you seem to actually prefer,
0:35:01 > 0:35:03you'll still get the bubbles
0:35:03 > 0:35:05but save £1,000 a year.
0:35:05 > 0:35:06I'll drink to that!
0:35:06 > 0:35:09- That's delicious.- No!
0:35:09 > 0:35:12THEY LAUGH
0:35:12 > 0:35:14But Simon wants to keep those savings rolling in.
0:35:14 > 0:35:17So he hitches a ride with Yvonne in her car.
0:35:17 > 0:35:21Because she clocks up lots of miles every year, Yvonne needs
0:35:21 > 0:35:26a reliable motor, and up to now, she's been leasing her wheels.
0:35:26 > 0:35:28But her contract is coming up for renewal and
0:35:28 > 0:35:34if she wants to keep the car she's got, it will cost her £323 a month.
0:35:35 > 0:35:38And I guess it's... You've got a nice car, that's the going price.
0:35:38 > 0:35:42- I reckon we can save you money, though.- Do you?
0:35:42 > 0:35:46I think we can go to a dealer, get you a deal, so it will be cheaper
0:35:46 > 0:35:50in that, and a different car that you're going to fall in love with.
0:35:50 > 0:35:54- But can Yvonne give up her beloved Beemer?- Hey, Paul. Nice to see you.
0:35:54 > 0:35:57Hopefully, dealer Paul will be able to show her a new
0:35:57 > 0:35:59set of wheels at a cheaper price.
0:35:59 > 0:36:04I'm looking for something around the same price range as I'm paying now.
0:36:04 > 0:36:07Something sturdy, a bit racy,
0:36:07 > 0:36:11- something that will look nice as well.- Fantastic.
0:36:11 > 0:36:12- You've got something in mind? - Definitely.
0:36:12 > 0:36:15I'm going to leave you in Paul's hands, but remember,
0:36:15 > 0:36:16don't just get dazzled by the car.
0:36:16 > 0:36:19Think about the cost and the price and how much you're going to pay.
0:36:19 > 0:36:23- OK, definitely.- And negotiate hard. - Oh, definitely.- Good luck.
0:36:23 > 0:36:25- Come this way.- OK, thank you.
0:36:25 > 0:36:30And it took all of 1.2 seconds for Yvonne to fall in love.
0:36:30 > 0:36:31Yeah, I really like this.
0:36:31 > 0:36:34I like the look and the fact that it is convertible.
0:36:34 > 0:36:36And she hits the road for a test drive.
0:36:38 > 0:36:40SHE LAUGHS
0:36:42 > 0:36:45If Yvonne was to swap her current car for this new one,
0:36:45 > 0:36:49she would save herself £58 a month, which means a
0:36:49 > 0:36:52£2,784 saving over the four-year
0:36:52 > 0:36:54lease term. You see?
0:36:54 > 0:36:57It really pays off to shop around.
0:36:57 > 0:37:00Well, I think you need to go away and think about these figures.
0:37:00 > 0:37:03- To my mind, it sounds like a great deal but...- Yeah.
0:37:03 > 0:37:05I mean, I'd always look through the figures
0:37:05 > 0:37:08and read the fine print first.
0:37:08 > 0:37:09But it does, um...
0:37:10 > 0:37:13- On paper, it's a good deal, I think. - Yeah.
0:37:13 > 0:37:15You'd be right to check because,
0:37:15 > 0:37:18while leasing a car makes sense for Yvonne, it isn't always going
0:37:18 > 0:37:21to work out the most cost-effective way of getting a car.
0:37:21 > 0:37:25So check those terms and conditions before you commit.
0:37:25 > 0:37:30Well, Simon's saved Yvonne loads of cash so far, and she's hoping
0:37:30 > 0:37:34to put it towards a deposit so she can buy the council house she rents.
0:37:34 > 0:37:36But Yvonne is self-employed
0:37:36 > 0:37:39and she's afraid she might not be given a mortgage.
0:37:39 > 0:37:41So as a parting gift,
0:37:41 > 0:37:45Simon's invited along mortgage adviser David Hollingworth.
0:37:46 > 0:37:51If I was to say about chances, what do you think, knowing everything you
0:37:51 > 0:37:55know about me now, what do you think my chances are of buying a property?
0:37:55 > 0:37:58Well, I think it's get that track record of your income,
0:37:58 > 0:38:03that will give you the real pathway to success in buying this house.
0:38:03 > 0:38:05That's great news.
0:38:05 > 0:38:08David thinks that being self-employed won't stop Yvonne's
0:38:08 > 0:38:10dreams of buying her house.
0:38:10 > 0:38:13But there's a deposit to stump up first.
0:38:13 > 0:38:15Let's see how much Yvonne could squirrel away
0:38:15 > 0:38:18if she follows all of Simon's advice.
0:38:18 > 0:38:20Renting out her car parking spaces,
0:38:20 > 0:38:21swapping the local cafe
0:38:21 > 0:38:23for the local library
0:38:23 > 0:38:27and transferring her motivational speech business there, plus
0:38:27 > 0:38:29swapping champagne for prosecco and
0:38:29 > 0:38:31halving her takeaway spending
0:38:31 > 0:38:35would free up a total of £5,200.
0:38:35 > 0:38:37And if she signs up for a new car lease,
0:38:37 > 0:38:43that would be an extra £2,784 over the next four years.
0:38:43 > 0:38:45That should make the bank manager happy.
0:38:45 > 0:38:48As well as our Yvonne, of course.
0:38:48 > 0:38:51Simon has given me a lot of encouragement,
0:38:51 > 0:38:53and I think for me, that's a key thing.
0:38:53 > 0:38:58I'm a single parent, so being able to afford a mortgage on my own
0:38:58 > 0:39:01is really, really important, and he's given me some good tips.
0:39:01 > 0:39:03So I will be using them to increase my income
0:39:03 > 0:39:06and also increase my savings as well.
0:39:10 > 0:39:13And Yvonne is here along with Sarah Pennels.
0:39:13 > 0:39:15Now, Yvonne, it's great to see you.
0:39:15 > 0:39:17I know you're a lady that likes the finer things in life, so how are
0:39:17 > 0:39:21you feeling now that Simon's been to look at your finances?
0:39:21 > 0:39:22Yeah, I'm feeling great.
0:39:22 > 0:39:25He gave me some really good tips, so I'm utilising those
0:39:25 > 0:39:28and things are beginning to change already.
0:39:28 > 0:39:29So, yeah, I'm really happy with that.
0:39:29 > 0:39:32Sarah, cutting back on those little luxuries, things which,
0:39:32 > 0:39:35you know, a lot of people have got into bad habits with,
0:39:35 > 0:39:38can be quite a tough thing for some people to do, can't it?
0:39:38 > 0:39:41I think the key word there is habit cos it doesn't matter
0:39:41 > 0:39:43what it is that you consider as a luxury,
0:39:43 > 0:39:46once you've got used to that, it is something that you just think,
0:39:46 > 0:39:47"Well, this is what I do.
0:39:47 > 0:39:51"Once a week, I'll maybe have a drink with friends," whatever it is.
0:39:51 > 0:39:54And as you say, breaking any kind of habit can be difficult,
0:39:54 > 0:39:57but if you've got a really good motivation to do it,
0:39:57 > 0:39:59then that habit actually can be changed.
0:39:59 > 0:40:02Yvonne, talk to me about that champagne tasting experience,
0:40:02 > 0:40:05because I think a lot of people will be surprised by the results.
0:40:05 > 0:40:07Oh, definitely.
0:40:07 > 0:40:10The perception is that champagne is of higher quality,
0:40:10 > 0:40:14tastes better, but actually when it came down to the tasting,
0:40:14 > 0:40:17the prosecco won by leaps and bounds.
0:40:17 > 0:40:20So for me, it's prosecco all the way now.
0:40:20 > 0:40:23- So, yeah, I'll save myself a penny or two.- We like the sound of that.
0:40:23 > 0:40:27- Still having as much fun and saving money at the same time.- Absolutely.
0:40:27 > 0:40:30Yvonne, you are on the right path now.
0:40:30 > 0:40:34Well, for me, the experience was, "You can do it."
0:40:34 > 0:40:37And it's given me now a lot of inspiration cos
0:40:37 > 0:40:40I didn't believe that I could because of my age
0:40:40 > 0:40:43and because I'm self-employed, but Simon coming has given me
0:40:43 > 0:40:45an assurance that it's possible.
0:40:45 > 0:40:48I've always wanted to own my own property,
0:40:48 > 0:40:50but I had limiting beliefs about myself.
0:40:50 > 0:40:53But, you know, as I tell people about their goals and their dreams,
0:40:53 > 0:40:56I thought, "Well, how can I be telling other people
0:40:56 > 0:40:59"and not actually utilising what I'm telling them for myself?"
0:40:59 > 0:41:03And I believe that I can own my home, so it's going to happen.
0:41:03 > 0:41:07And what do your sons, your big boys, think of you
0:41:07 > 0:41:10and how you've changed your life?
0:41:10 > 0:41:13To see that Mum's doing it, for them, it's such an achievement.
0:41:13 > 0:41:15They're just proud of me
0:41:15 > 0:41:17and I'm really, really... I'm getting really emotional.
0:41:17 > 0:41:20- Your welling up, aren't you? - Yeah, I am.
0:41:20 > 0:41:23You know, I'm proud of them and they're proud of me,
0:41:23 > 0:41:26and it's just how we are. We ride and die together.
0:41:26 > 0:41:28You know, that's how we are as a family so...
0:41:28 > 0:41:31That's just great. Well done, Yvonne.
0:41:31 > 0:41:34Now, if like Yvonne, you'd like a little nudge in sorting
0:41:34 > 0:41:36out your finances, then e-mail us at...
0:41:39 > 0:41:41And we can't promise our experts
0:41:41 > 0:41:42will be able to come and help everyone,
0:41:42 > 0:41:46but on our website, we do have lots of tips and budgeting advice.
0:41:48 > 0:41:53Our website has everything you need to sort out your spending.
0:41:53 > 0:41:55We've teamed up with the Money Advice Service
0:41:55 > 0:41:58to bring you easy-to-use money-saving tools
0:41:58 > 0:41:59to plan your budget,
0:41:59 > 0:42:02calculate the cost of your car or credit cards
0:42:02 > 0:42:05and give your money a complete health check.
0:42:05 > 0:42:06Download them at...
0:42:10 > 0:42:13..where you can also take our interactive spending test.
0:42:13 > 0:42:15And you'll find plenty more tips
0:42:15 > 0:42:17and advice to keep your finances on track.
0:42:21 > 0:42:22Well, Sarah's still with us
0:42:22 > 0:42:25and we've got some questions for you from people we've met today.
0:42:25 > 0:42:27Yeah, and first up, it's Eric
0:42:27 > 0:42:30and he says he's been recently refused a car loan and wants
0:42:30 > 0:42:33to know whether his partner's bad credit history could be to blame.
0:42:33 > 0:42:37Well, first of all, all adults in the UK have a credit file.
0:42:37 > 0:42:39Now, these credit files only get linked
0:42:39 > 0:42:42if you have joint credit with somebody else.
0:42:42 > 0:42:46So if Eric has got a joint mortgage or joint bank account
0:42:46 > 0:42:49with his partner, then it will have an effect on his credit rating,
0:42:49 > 0:42:52even if he applies for something like a car loan just in his name.
0:42:52 > 0:42:54Many people think it only affects you
0:42:54 > 0:42:57if you apply for credit with somebody who's got that bad rating.
0:42:57 > 0:42:59So I think he should check his credit file,
0:42:59 > 0:43:03see what's on there. If his partner has got a bad rating, then
0:43:03 > 0:43:06that will affect him and it could affect him for some time to come.
0:43:06 > 0:43:08- Could be expensive, couldn't it?- Certainly could.
0:43:08 > 0:43:10Now, Janine says, "I've bought an expensive vacuum cleaner
0:43:10 > 0:43:13"from a shop that's now gone out of business.
0:43:13 > 0:43:16"It's stopped working. Can I get a refund?"
0:43:16 > 0:43:19In this case, if the shop's actually gone bust and has completely
0:43:19 > 0:43:22stopped trading, then they don't have any liability any more.
0:43:22 > 0:43:25I would suggest, if it's still within the warranty period,
0:43:25 > 0:43:27to go back to the manufacturer, and actually, even if
0:43:27 > 0:43:30it's outside the warranty, because in a situation like this,
0:43:30 > 0:43:32some manufacturers will go the extra mile.
0:43:32 > 0:43:36OK, thank you. And Ada. She's going on holiday to Spain.
0:43:36 > 0:43:37Take me with you, Ada!
0:43:37 > 0:43:40And she wants to know how she can avoid racking up
0:43:40 > 0:43:42big mobile phone bills.
0:43:42 > 0:43:44Well, there is good news
0:43:44 > 0:43:46if you're going on holiday anywhere in the European Union
0:43:46 > 0:43:49because there are strict limits on how much the mobile phone
0:43:49 > 0:43:52providers can charge. And those came down just a few months ago.
0:43:52 > 0:43:56And also there's a cap of 50 euros, which is about £35, on the
0:43:56 > 0:43:59maximum amount that you can be charged while you're on holiday.
0:43:59 > 0:44:00Now, there is a bit of a catch
0:44:00 > 0:44:03which is that you can opt out of this cap,
0:44:03 > 0:44:06so make sure that you don't do that before you go away.
0:44:06 > 0:44:09You can also buy extra data bundles which are often quite
0:44:09 > 0:44:11good value if you know roughly how much you might
0:44:11 > 0:44:15use your phone for either browsing or making calls while you're away.
0:44:15 > 0:44:18I think, generally speaking, some good advice is
0:44:18 > 0:44:21don't download films and anything that is really data hungry.
0:44:21 > 0:44:23Just check your e-mails and keep it to a minimum.
0:44:23 > 0:44:25That's right, if you're on holiday,
0:44:25 > 0:44:27use your phone for making calls and texts.
0:44:27 > 0:44:29If you want to go and see a film, go to the cinema.
0:44:29 > 0:44:30Tonnes of great advice there, Sarah.
0:44:30 > 0:44:32Well, that's about it from us in Nottingham,
0:44:32 > 0:44:35so thanks to all our guests and to you at home.
0:44:35 > 0:44:37And we'll be back with more money-saving advice next time.
0:44:37 > 0:44:39- Bye-bye.- Cheerio.