0:00:02 > 0:00:04Whether you are a spender or a saver,
0:00:04 > 0:00:07we could all do with making the most of our cash.
0:00:08 > 0:00:12So, we've found simple advice for you to do just that,
0:00:12 > 0:00:15and taken it to people right across the UK.
0:00:15 > 0:00:19Whatever help you need with your finances, we are right on the money.
0:00:22 > 0:00:24Hello and welcome to Right On The Money,
0:00:24 > 0:00:27the show that helps you free up extra cash by giving you
0:00:27 > 0:00:29bags of tips and expert advice.
0:00:29 > 0:00:31And do you know what the best bit is, Denise?
0:00:31 > 0:00:35- Tell us, Dom.- Becoming more money-savvy isn't even hard.
0:00:35 > 0:00:38In fact, a few simple lifestyle changes can pay dividends.
0:00:38 > 0:00:42Here's what's coming up in today's show.
0:00:42 > 0:00:46We tackle the spending habits of a woman who loves to splash the cash
0:00:46 > 0:00:48and give her a crash course in haggling.
0:00:48 > 0:00:51You've got to be hard. You got to keep to a price and then you get
0:00:51 > 0:00:54- the right deal. - My heart just beats fast.
0:00:55 > 0:00:56It's not easy.
0:00:56 > 0:00:58- It's not easy.- You need more practice, I think.
0:00:58 > 0:01:02And we tell you exactly how every nook and cranny in your house could
0:01:02 > 0:01:04make you a tidy bit of cash.
0:01:04 > 0:01:08We've got about five people's worth of storage items here,
0:01:08 > 0:01:11which I'm probably making about £150 a month.
0:01:14 > 0:01:16Now, if you've lost a loved one,
0:01:16 > 0:01:18you'll know that getting back on your financial feet can be
0:01:18 > 0:01:21a difficult and exhausting experience,
0:01:21 > 0:01:24especially if that person was the one who'd dealt with looking after
0:01:24 > 0:01:28- the bills.- So let's see what we can do to help one widow regain control
0:01:28 > 0:01:30of her spending habits.
0:01:32 > 0:01:35Home for Yorkshire lass Carol Bowes is this house in Bradford,
0:01:35 > 0:01:37where she lives with son Ian.
0:01:38 > 0:01:40We do have a really nice relationship.
0:01:40 > 0:01:45We're sort of friends now as well but he'll always be mine - my baby.
0:01:47 > 0:01:49Ian isn't the only man in her life.
0:01:49 > 0:01:52Her other son, Philip, lives nearby.
0:01:52 > 0:01:56Carol was married to husband Peter for 23 years.
0:01:56 > 0:02:00But then, four years ago, Peter died suddenly at the age of 50,
0:02:00 > 0:02:04leaving Carol a widow.
0:02:04 > 0:02:09From getting the diagnosis of the illness to passing away
0:02:09 > 0:02:15was within six weeks or so. So it was hard to cope with.
0:02:15 > 0:02:18And I just felt that I had to be strong for them.
0:02:18 > 0:02:20Of course it was difficult.
0:02:20 > 0:02:24But I've kind of drawn that strength from Mum as well
0:02:24 > 0:02:27that allowed me to carry on with school.
0:02:29 > 0:02:33Not only did Carol have to cope with losing a loving partner but the man
0:02:33 > 0:02:36who had been in charge of the family finances.
0:02:36 > 0:02:40He was the one that got us on to our new energy tariff.
0:02:40 > 0:02:44He was the one that used to go and look at the buildings and contents insurance.
0:02:44 > 0:02:46All of those sorts of things.
0:02:46 > 0:02:51So, all of that, really, you know, put a lot of extra stress on me.
0:02:53 > 0:02:57And it has been difficult doing everything on my own, really.
0:02:59 > 0:03:00After Peter died,
0:03:00 > 0:03:04Carol decided to take early retirement from her managerial job.
0:03:04 > 0:03:08Now she's back working part-time but earning far less than before.
0:03:08 > 0:03:12Therefore, you'd think Carol had tightened the purse strings,
0:03:12 > 0:03:13but you'd be wrong.
0:03:15 > 0:03:18If I see something nice that I want, then I'll think, "I deserve it.
0:03:18 > 0:03:21- "I've worked hard."- She goes on girly holidays.
0:03:21 > 0:03:24When you turned 50, if you don't mind me saying,
0:03:24 > 0:03:25I think you went on about three.
0:03:25 > 0:03:27- Five.- Five.
0:03:28 > 0:03:32And I'm worried that on her new, lower income,
0:03:32 > 0:03:36if she carries on doing that, she'll go, "Where is this money gone?"
0:03:37 > 0:03:41Carol is worried that if she continues spending like there's no tomorrow,
0:03:41 > 0:03:44soon there will be nothing left of her retirement nest egg.
0:03:44 > 0:03:46We don't want that to happen,
0:03:46 > 0:03:51so we've sent in personal finance expert Simon Reid to hatch a plan.
0:03:51 > 0:03:53You've had quite a tough time of it, haven't you?
0:03:53 > 0:03:57Yes, it has. It's been pretty stressful over the past few years.
0:03:57 > 0:04:01And this, after your husband died,
0:04:01 > 0:04:06finances came to the fore because he used to do all the finances, didn't he?
0:04:06 > 0:04:10He sort of was the one that just had that ability to do that.
0:04:10 > 0:04:12So we'll take a good look at your finances and come up with some great
0:04:12 > 0:04:14solutions to put you back in control of your money.
0:04:14 > 0:04:18- How about that?- I know I need that kick up the bum, really.
0:04:18 > 0:04:20- Thank you.- Let's get started.
0:04:20 > 0:04:21Great!
0:04:22 > 0:04:26Simon decides to get straight to work back at Carol's place by tackling an
0:04:26 > 0:04:31immediate problem - her household bills that are running out of control.
0:04:31 > 0:04:34First off, a surprisingly high phone bill.
0:04:35 > 0:04:38I noticed there were an awful lot of 0845 numbers on there.
0:04:38 > 0:04:41What's going on? That's really expensive.
0:04:41 > 0:04:43Yeah, my fault. I'm to blame for that one.
0:04:43 > 0:04:45- It's Ian.- Come on, Ian!
0:04:45 > 0:04:48- We're all ears.- When I was sorting out my car insurance,
0:04:48 > 0:04:53my previous insurance company made an error and it took me three
0:04:53 > 0:04:56or four different phone calls in order to sort the error.
0:04:56 > 0:04:59Here's the thing. Calling 0845 numbers is expensive.
0:04:59 > 0:05:02It's premium rate numbers.
0:05:02 > 0:05:04The answer is to not call them.
0:05:04 > 0:05:06They have people you can talk to online.
0:05:06 > 0:05:10It's called live chat. They have the same people who might be on the phone,
0:05:10 > 0:05:13except they're just on the end of the line on the computer,
0:05:13 > 0:05:14and they tell you what they're doing.
0:05:14 > 0:05:17It just saves those expensive phone calls which, I have to tell you,
0:05:17 > 0:05:20I think are a complete rip-off.
0:05:20 > 0:05:22Simon's not wrong there.
0:05:22 > 0:05:26Dialling a premium rate 0845 number can rack up a hefty bill,
0:05:26 > 0:05:29particularly if you're dialling from a mobile.
0:05:29 > 0:05:32But logging on to a company's live chat service is free.
0:05:32 > 0:05:34Talking about rip-offs,
0:05:34 > 0:05:37your broadband, TV package seems very expensive to me.
0:05:37 > 0:05:40I thought I'd got it as cheap as I could, actually.
0:05:41 > 0:05:43Do you know how much you're paying a month?
0:05:43 > 0:05:45It's about £47 a month.
0:05:45 > 0:05:48I found a couple other deals online.
0:05:48 > 0:05:53You could get basically the same deal for around £20 a month.
0:05:53 > 0:05:55Oh, gosh! That's a massive saving.
0:05:55 > 0:05:57That's saving you more than £300 a year.
0:05:58 > 0:06:00By changing their broadband,
0:06:00 > 0:06:03Simon has fast-tracked Carol and Ian
0:06:03 > 0:06:05to their first saving of £312 a year.
0:06:05 > 0:06:08And if Ian avoids calling premium rate numbers,
0:06:08 > 0:06:10they would save even more.
0:06:10 > 0:06:13A great start to Carol's money-saving marathon.
0:06:13 > 0:06:17However, Simon has stumbled across an obstacle that could slow her down.
0:06:17 > 0:06:21He's discovered Carol's little cash machine habit.
0:06:21 > 0:06:25How much do you take out from the cashpoint every month?
0:06:25 > 0:06:29It's hard to know exactly because I just come and really take cash when
0:06:29 > 0:06:31- I need it.- OK.
0:06:31 > 0:06:36So we've had a look at that and we reckon you spend £500.
0:06:36 > 0:06:39- Now, that's a lot of money. - Yes.
0:06:39 > 0:06:41That's £6,000 a year.
0:06:41 > 0:06:45- Where's it going, Carol? - Well, that's interesting.
0:06:45 > 0:06:48I'm not really sure myself now, where it's going.
0:06:48 > 0:06:51Come on, Carol. Surely you've got a Scooby-Doo.
0:06:51 > 0:06:55I'm going to give you a diary and you're going to write down every
0:06:55 > 0:06:56time you spend anything on cash.
0:06:56 > 0:06:58So when I come back in a week's time,
0:06:58 > 0:07:01we can find out where all that money's going.
0:07:01 > 0:07:03Are you going to take on this challenge for us?
0:07:03 > 0:07:06Yes, I will, because I need to do it. Yes, thank you.
0:07:06 > 0:07:08- Good luck with it.- Thanks.
0:07:08 > 0:07:10Spending diary sorted.
0:07:10 > 0:07:14It's back to the house where Simon wants to put his energy into getting
0:07:14 > 0:07:16Carol a better gas and electricity deal.
0:07:17 > 0:07:20Do you know how much you're paying every year at the moment?
0:07:20 > 0:07:24I know each year I'm probably paying about £1,200.
0:07:24 > 0:07:27If you switch to another supplier, to a better deal,
0:07:27 > 0:07:29how much do you reckon we could save you?
0:07:29 > 0:07:32Well, I'd like to think at least a couple of hundred, if you could.
0:07:32 > 0:07:38Every month, 250,000 customers across the UK switch energy companies -
0:07:38 > 0:07:42saving an average of £250 each over a year.
0:07:42 > 0:07:45Time for Carol to save some more money.
0:07:45 > 0:07:49We reckon we could save you £255.87.
0:07:49 > 0:07:51Right. That is a big saving.
0:07:51 > 0:07:53It's a big saving.
0:07:53 > 0:07:56For 12 years, you've been on the same company, on the same tariff.
0:07:56 > 0:07:57- Yes.- If you made that saving earlier,
0:07:57 > 0:08:01how much are we talking about? We're talking about thousands of pounds.
0:08:01 > 0:08:03Yes. Yeah. Absolutely.
0:08:03 > 0:08:06Keep comparing and make sure you're always on the best deal because the
0:08:06 > 0:08:10savings, literally, hundreds of pounds every year.
0:08:10 > 0:08:14And Simon has got one more nugget for Carol, if she's up for it.
0:08:14 > 0:08:16You have to be prepared to haggle.
0:08:16 > 0:08:17It's not just always about going online.
0:08:17 > 0:08:21It is sometimes about ringing people up and saying, "Can you match this?"
0:08:21 > 0:08:23- Yeah.- And you never know.
0:08:23 > 0:08:26- If you don't try...- It doesn't come easy, haggling.
0:08:26 > 0:08:30With another £255 saved,
0:08:30 > 0:08:33Simon's decided to tackle Carol's fear of haggling head-on.
0:08:33 > 0:08:38He's taking Carol and Ian to a car-boot sale with one simple instruction.
0:08:38 > 0:08:42I'm not allowing you to leave this stall until you've got a better deal.
0:08:42 > 0:08:43- Understand?- Right.
0:08:43 > 0:08:46So, the first thing you do is try and find something
0:08:46 > 0:08:50you want to haggle over. That's quite a nice dog's-tooth blouse.
0:08:50 > 0:08:51I wear a lot of black and white.
0:08:51 > 0:08:53So, let's have a chat.
0:08:53 > 0:08:56I just wondered how much this was?
0:08:56 > 0:08:58- £12.- £12?
0:08:58 > 0:09:02- What do you think, Carol? Is that a bargain?- What about £3?
0:09:02 > 0:09:05£3.50.
0:09:05 > 0:09:09How about we meet halfway? £3.25.
0:09:09 > 0:09:13- Yeah.- Sounds OK to me but watch and learn, Carol.
0:09:13 > 0:09:15So, shall I show you how I would have done that?
0:09:15 > 0:09:17- Please.- OK.
0:09:17 > 0:09:19- Will you take £1.50?- No.
0:09:19 > 0:09:22- £1.75?- No.
0:09:22 > 0:09:26£3.50. £3.50 and it's yours.
0:09:26 > 0:09:28I'll tell you what.
0:09:28 > 0:09:29I think it would really suit me.
0:09:29 > 0:09:33So I'll give you £2.50 for it.
0:09:33 > 0:09:35Right now. Here we go. I've got the cash in my pocket.
0:09:35 > 0:09:37You'll have the cash in your hand in seconds.
0:09:37 > 0:09:40£2.50.
0:09:40 > 0:09:41- Thank you very much. - Thanks very much.
0:09:41 > 0:09:44You know, you've got to be hard. You've got to keep to a price
0:09:44 > 0:09:48- and then you'll get the right deal. - My heart just beats fast.
0:09:48 > 0:09:50It's not easy. It's not easy.
0:09:50 > 0:09:53- You need more practice, I think. - I do.- You need more practice.
0:09:53 > 0:09:56And there's no time like the present.
0:09:56 > 0:09:58How much is that car?
0:09:58 > 0:10:01£2. £2, yeah?
0:10:01 > 0:10:03Would you accept 50p for it?
0:10:04 > 0:10:06Er...
0:10:06 > 0:10:08- Yeah.- I think I've got a deal there.
0:10:08 > 0:10:11That's fantastic! Shake hands?
0:10:12 > 0:10:16- Thank you very much!- Do you know what? I couldn't have done that better myself.
0:10:16 > 0:10:19It's estimated that almost half of us have managed to knock down
0:10:19 > 0:10:21the price of something by haggling.
0:10:21 > 0:10:25Whether you want to pay less for a toy car, or brand-new motor,
0:10:25 > 0:10:28putting in a cheeky offer will pay dividends.
0:10:28 > 0:10:32So, what does Ian think about his mum's new-found skills?
0:10:32 > 0:10:35I definitely think what you've been showing her today has been really
0:10:35 > 0:10:38vital and I think it's definitely going to help her going forward in the future.
0:10:38 > 0:10:42I've been looking on from a distance as well and I've picked up a few
0:10:42 > 0:10:44things that I hope to try myself.
0:10:46 > 0:10:48Simon's first visit is nearly over.
0:10:48 > 0:10:51But before he goes, he wants to tackle her biggest problem -
0:10:51 > 0:10:56the family home. Carrol feels that she can't move forward with her life
0:10:56 > 0:10:59without selling the house she shared with her late husband, Peter.
0:10:59 > 0:11:03But, after six months on the market, it's still unsold.
0:11:03 > 0:11:05It needs to go back to a family again.
0:11:05 > 0:11:08It's been a lovely family home and it just needs to go back to somebody
0:11:08 > 0:11:09that can enjoy the space.
0:11:09 > 0:11:12I'm just rattling around at the moment.
0:11:12 > 0:11:16Carol's house is on the market for £269,000.
0:11:16 > 0:11:18With no buyers in sight,
0:11:18 > 0:11:22Simon has called in property makeover expert Anita Richards.
0:11:22 > 0:11:26After casting a creative eye over Carol's soft furnishings,
0:11:26 > 0:11:28she's ready to deliver her verdict.
0:11:29 > 0:11:34So, this to me, I'm no expert but, this, to me, seems like a lovely house.
0:11:34 > 0:11:36Why isn't it selling, Anita?
0:11:36 > 0:11:38It's lovely. It's spacious,
0:11:38 > 0:11:41but I have to say, it's a little bit dated.
0:11:41 > 0:11:46So, you need to up your game a bit and give it some house wow,
0:11:46 > 0:11:49to really get the buyers interested.
0:11:49 > 0:11:51So, one of the things is to depersonalise.
0:11:51 > 0:11:57You've got lots of beautiful photographs of your family but,
0:11:57 > 0:12:00it's your family, your house, it distracts people.
0:12:00 > 0:12:04And, really, you want them to be looking at this house, these rooms,
0:12:04 > 0:12:06where they could live.
0:12:07 > 0:12:10Getting your house ready to sell doesn't have to cost a lot.
0:12:10 > 0:12:15Sometimes, just a modest and cheap change can make all the difference.
0:12:15 > 0:12:19I think Anita wants more than a few cushions plumped, Simon.
0:12:21 > 0:12:24Carol has agreed to take on board Anita's advice.
0:12:24 > 0:12:28However, in part two, we'll discover whether the prospect
0:12:28 > 0:12:31of leaving the family home is too much.
0:12:31 > 0:12:36The temptation just to stay is great and it would probably be the
0:12:36 > 0:12:38easier thing to do.
0:12:38 > 0:12:41Um, I'm not really thinking about leaving.
0:12:42 > 0:12:43Sorry.
0:12:45 > 0:12:47It will be hard to leave.
0:12:51 > 0:12:54And Carol will be joining us a little bit later to discuss
0:12:54 > 0:12:56the whole experience and how she's getting on.
0:12:56 > 0:12:59But, first, Simon's here, along with Sharon,
0:12:59 > 0:13:01who's going to tell us what she decided to do,
0:13:01 > 0:13:03so that she didn't have to downsize.
0:13:03 > 0:13:05Going back to Carol, Simon.
0:13:05 > 0:13:10You can understand why she got upset at the thought of downsizing that
0:13:10 > 0:13:12house which she'd lived in with her husband.
0:13:12 > 0:13:13Of course. This is a home.
0:13:13 > 0:13:16This is where there were lots of happy memories.
0:13:16 > 0:13:18It is an emotional attachment.
0:13:18 > 0:13:20But you have to be practical and pragmatic.
0:13:20 > 0:13:21She needs the money now.
0:13:21 > 0:13:24That means moving on and downsizing.
0:13:24 > 0:13:26And, to be honest, moving on can actually
0:13:26 > 0:13:28help the grieving process as well.
0:13:28 > 0:13:31Sharon, you decided to do something a bit different.
0:13:31 > 0:13:34I did. I decided to rent out rooms in my house.
0:13:34 > 0:13:37When my family left home, I was left with a four-bedroomed house,
0:13:37 > 0:13:41which I love, in an area that I love, too.
0:13:41 > 0:13:46So my option was to begin to take in lodgers or house-sharers,
0:13:46 > 0:13:49so that's what I did and I've been doing that now for probably the last
0:13:49 > 0:13:51seven or eight years.
0:13:51 > 0:13:55- That way, of course, you haven't had to downsize. You still got the home you love.- Exactly.
0:13:55 > 0:13:58What sort of ground rules do you put in place to make sure you get the right sort of person, though?
0:13:58 > 0:14:01You do vet. You choose somebody that you think you will get on with.
0:14:01 > 0:14:04You advertise and you talk to them by e-mail.
0:14:04 > 0:14:06Then they visit the house.
0:14:06 > 0:14:10And if I like the person, and I think we'll get on, on the day they move in,
0:14:10 > 0:14:15I call it a contract but it's more a statement of expectations.
0:14:15 > 0:14:19It just says what they get for their money, what I will provide,
0:14:19 > 0:14:21how I expect things to be.
0:14:21 > 0:14:24They know already that the rent is paid on a certain day.
0:14:24 > 0:14:28They know that it's their responsibility to tidy up after themselves.
0:14:28 > 0:14:29Do you spend time together?
0:14:29 > 0:14:31We do, actually, yes.
0:14:31 > 0:14:34We have been known to share a bottle of wine of an evening,
0:14:34 > 0:14:38round Coronation Street or whatever, something like that.
0:14:38 > 0:14:40So, yes, we do.
0:14:40 > 0:14:44It's all well and good making a profit but what about that all-important tax?
0:14:44 > 0:14:45Well, the good news is,
0:14:45 > 0:14:49you can earn up to £7,500 a year from renting
0:14:49 > 0:14:51out a room without paying any tax,
0:14:51 > 0:14:56which should be enough for most homes to be able to do so without having any huge tax demands.
0:14:56 > 0:14:58That's over £600 a month.
0:14:58 > 0:14:59So I bet, in your case,
0:14:59 > 0:15:02you could rent this out and not pay a penny in tax.
0:15:02 > 0:15:04Well, that's the aim.
0:15:04 > 0:15:08Myself and people I know aim to keep below the 7,500.
0:15:08 > 0:15:12So you can do that by spreading over two tax years,
0:15:12 > 0:15:15or you can make sure the amount you charge doesn't go above that level.
0:15:15 > 0:15:18- You sound pretty savvy to me. - Oh, thank you.
0:15:18 > 0:15:20SHE LAUGHS
0:15:20 > 0:15:22It's obviously not just about the extra money,
0:15:22 > 0:15:27which is obviously very helpful but, when you might go on holiday,
0:15:27 > 0:15:29for example, you're able to...
0:15:29 > 0:15:31Someone can feed the animals, or the house is going to be safe.
0:15:31 > 0:15:34There's a lot of perks that come with having people in your house.
0:15:34 > 0:15:38I think so. I feel very comfortable going on holiday,
0:15:38 > 0:15:41especially with the house-sharers I have now.
0:15:41 > 0:15:43I was on holiday in February.
0:15:43 > 0:15:46I felt very comfortable leaving them on their own.
0:15:46 > 0:15:49- It worked.- The extra income is obviously useful.
0:15:49 > 0:15:50What has it enabled you to do?
0:15:50 > 0:15:54It's enabled me to go on holiday and it also helps with the household
0:15:54 > 0:15:56bills, especially in the winter.
0:15:56 > 0:16:00It's expensive to heat a house all through the winter,
0:16:00 > 0:16:01so it certainly helps with those,
0:16:01 > 0:16:05the household bills and general maintenance of the house.
0:16:05 > 0:16:08- It's very useful.- Thanks, Simon. Thanks, Sharon.
0:16:08 > 0:16:12Now, renting out your spare room is a brilliant way to make extra cash.
0:16:12 > 0:16:14But what if you don't fancy sharing a house
0:16:14 > 0:16:16with a complete stranger full-time?
0:16:16 > 0:16:20Well, there are plenty of other things you can do to make money from your home.
0:16:20 > 0:16:25So, pin your ears back because this next film has got plenty of top tips.
0:16:27 > 0:16:30For Claire, like many working mums,
0:16:30 > 0:16:32mornings are the busiest time of the day.
0:16:32 > 0:16:36- Which cereal would you like? Rice Krispies?- Shreddies.
0:16:36 > 0:16:38- Please, Mummy!- And, today,
0:16:38 > 0:16:42Claire has an extra incentive to get everyone out of the house on time.
0:16:42 > 0:16:44Violet, it's not piano practice time.
0:16:44 > 0:16:46Come on. We have to go.
0:16:46 > 0:16:47It's going to school time.
0:16:47 > 0:16:49Bye!
0:16:49 > 0:16:50- Phew.- Made it!
0:16:50 > 0:16:53So, this morning, I have a guest arriving.
0:16:53 > 0:16:57It's a little bit unusual because I've never met this person before.
0:16:57 > 0:16:59Ooh, a mystery guest!
0:16:59 > 0:17:01It will be interesting and fun to meet a new person,
0:17:01 > 0:17:03but I've no idea what they'll be like.
0:17:03 > 0:17:05So, why on earth is Claire
0:17:05 > 0:17:09opening up the family home to a complete stranger?
0:17:09 > 0:17:12I rent out my kitchen and my living room-dining area,
0:17:12 > 0:17:15to people as a working space,
0:17:15 > 0:17:19so they can come and book the space on an hourly basis.
0:17:19 > 0:17:22And, right on cue, here comes her new client.
0:17:22 > 0:17:26- Hi.- Hello, Lavinia. Lovely to meet you.- Lovely to meet you, also.
0:17:26 > 0:17:27Thank you.
0:17:27 > 0:17:30Claire is one of a growing band of householders getting the
0:17:30 > 0:17:32most out of their bricks and mortar.
0:17:32 > 0:17:36So, while she's out at work, her kitchen is making money.
0:17:36 > 0:17:39You're very welcome to help yourself to tea and coffee.
0:17:39 > 0:17:45I've spent the last year using my house to make money through renting out working space to people.
0:17:45 > 0:17:48- So, here's your table to work at today.- Perfect.
0:17:51 > 0:17:55I generate between £500 and £1,000 a month.
0:17:55 > 0:17:59Well, that's a tidy sum, and not too much hassle,
0:17:59 > 0:18:02even when you've got your hands full, like Claire.
0:18:02 > 0:18:06This is a really easy way to make money because your house is sitting here anyway,
0:18:06 > 0:18:11and there's very little preparation or management that I need to put in to make that happen.
0:18:11 > 0:18:16It's just about clearing up the family life and converting it into a
0:18:16 > 0:18:17working environment.
0:18:17 > 0:18:21So, what's it like for the person who's rented out your kitchen table?
0:18:21 > 0:18:24Today, financial wellbeing coach Lavinia has paid £22
0:18:24 > 0:18:27to do just that.
0:18:27 > 0:18:29Well, it fits with one's budget.
0:18:29 > 0:18:32So, if I wake up one morning and I feel like, OK,
0:18:32 > 0:18:36I don't want to work from home, then I can just,
0:18:36 > 0:18:40you know, look online and find a
0:18:40 > 0:18:45home kitchen or a home that I want to work from, and it's within budget.
0:18:45 > 0:18:49But the idea of having strangers in your house might not appeal to everyone.
0:18:49 > 0:18:51Certainly, at first, I was nervous about
0:18:51 > 0:18:54strangers coming to the house and me having not met
0:18:54 > 0:18:59them beforehand but it doesn't feel very different to letting tradespeople
0:18:59 > 0:19:02or workman in your house to work for the day in your absence.
0:19:03 > 0:19:06Claire has signed up with an online company that offers to take the
0:19:06 > 0:19:11headache out of the whole process by finding and vetting clients and
0:19:11 > 0:19:12sorting out payments.
0:19:12 > 0:19:15It's one of a growing number of similar businesses.
0:19:17 > 0:19:20Everyone's happy and it seems like it's been a productive day for Lavinia,
0:19:20 > 0:19:24and a financially rewarding one for Claire.
0:19:24 > 0:19:27There's something really nice about being in someone else's home.
0:19:27 > 0:19:30It's just a different energy, you know?
0:19:30 > 0:19:32And it's comfortable as well.
0:19:32 > 0:19:34- Hi!- Did you had a good day? - Oh, yeah, I've had an awesome day.
0:19:34 > 0:19:39You can generally find a home that's close to your home,
0:19:39 > 0:19:40so you're not having to travel far.
0:19:40 > 0:19:42- Thank you for coming.- Thank you. - Lovely to meet you,
0:19:42 > 0:19:45- You also. OK?- I look forward to seeing you again.- You, too.
0:19:45 > 0:19:47- Take care. Bye.- Bye-bye.
0:19:47 > 0:19:50Hopefully, Lavinia might become a regular customer.
0:19:51 > 0:19:55Renting out a space in this way is part of what's known as the sharing
0:19:55 > 0:19:59economy, and it's booming.
0:19:59 > 0:20:03So, the sharing economy is the term used to describe people making money
0:20:03 > 0:20:06and saving money from the assets that they own -
0:20:06 > 0:20:08their house, their car,
0:20:08 > 0:20:09their boat, their pet -
0:20:09 > 0:20:13and the skills that they have in order to change the way
0:20:13 > 0:20:15that they work and earn.
0:20:15 > 0:20:20It's estimated to be worth over £7 billion in the UK alone.
0:20:20 > 0:20:23What can you do with your home in the daytime?
0:20:23 > 0:20:26I think people are getting really creative about how they can make
0:20:26 > 0:20:28their home work harder for them,
0:20:28 > 0:20:31to help them to earn money when they're not in it.
0:20:31 > 0:20:34And don't worry if you haven't got a lovely kitchen to double up
0:20:34 > 0:20:38as a work space. There are still ways of getting your house to earn its keep.
0:20:38 > 0:20:44And that's exactly what another sharing economy entrepreneur has done.
0:20:44 > 0:20:46So, the website is really simple to use.
0:20:46 > 0:20:49If you've got a spare room, or a cupboard, or a garage,
0:20:49 > 0:20:53you can just list your space on our website.
0:20:53 > 0:20:55What you'll find is people in your area will be looking for space,
0:20:55 > 0:20:58and they'll be typing their postcodes into our search
0:20:58 > 0:21:02and your space will pop up and that space can be booked.
0:21:02 > 0:21:05It's like a dating agency for storage.
0:21:05 > 0:21:09And someone who found true love, I mean extra cash, via the site,
0:21:09 > 0:21:14is Jan Rees, who had plenty of space in his loft going spare.
0:21:14 > 0:21:16So, here is where we are storing stuff, up in our loft.
0:21:16 > 0:21:22We've got about five people's worth of storage items here.
0:21:22 > 0:21:26People typically are paying roughly, on average, say about £5 a week.
0:21:26 > 0:21:31So I'm properly making about £150 a month overall.
0:21:31 > 0:21:34150 quid a month for shoving some boxes away?
0:21:34 > 0:21:38Now that's what are I call cash in the attic.
0:21:38 > 0:21:43Shaff came up the idea when faced with his own storage problem.
0:21:43 > 0:21:47I lived in a small bachelor pad by myself and my girlfriend moved in
0:21:47 > 0:21:50with me. I thought this would be the most wonderful day of my life.
0:21:50 > 0:21:53But when she turned up, she turned up with a van full
0:21:53 > 0:21:56of clothes and boxes and shoes and hair straighteners.
0:21:56 > 0:21:59I thought, "How are we going to get all this in our flat?"
0:21:59 > 0:22:02Things became more pressing when a baby came along.
0:22:02 > 0:22:06So, instead of just moaning, Shaff took to the streets.
0:22:06 > 0:22:10We made flyers and posted through the letterboxes of our neighbours
0:22:10 > 0:22:12and said, "Have you got any space we can rent?"
0:22:12 > 0:22:16People got back to us and they said, "Yes, you can rent our spare room,
0:22:16 > 0:22:17"or our attic."
0:22:17 > 0:22:19And so that's what we did.
0:22:19 > 0:22:22Three years on, it's now a thriving business.
0:22:22 > 0:22:25If you've got a little bit of space in your loft,
0:22:25 > 0:22:29like a quarter of your loft, you can make about £10 to £20 a week on that.
0:22:29 > 0:22:33So, overall, about £1,500 to £2,000 a year is the average.
0:22:33 > 0:22:35If you've got more space, if you wanted to rent out your garage,
0:22:35 > 0:22:39and a shed, then you can make up to £4,000, £5,000.
0:22:39 > 0:22:42Now, if you want to make a star out of your bijou residence,
0:22:42 > 0:22:46you can always list your pad on websites used by film and TV
0:22:46 > 0:22:49companies as filming locations.
0:22:49 > 0:22:52Or what about something a bit more theatrical?
0:22:52 > 0:22:53My name's Oliver Langdon.
0:22:53 > 0:22:55I'm the artistic director of Kilter Theatre.
0:22:55 > 0:23:01We devise site-specific plays in unusual, challenging locations.
0:23:01 > 0:23:04And now it's time for curtain up at Oliver's latest production,
0:23:04 > 0:23:07set in this Bristol basement flat.
0:23:07 > 0:23:11Today, the audience are going to meet outside on the pavement in front of
0:23:11 > 0:23:15the property and they'll be escorted around the property from room to room
0:23:15 > 0:23:17to follow the action.
0:23:17 > 0:23:20Wow! This looks like the most true-to-life set I've ever seen.
0:23:22 > 0:23:24Bottle of vodka for scene one.
0:23:25 > 0:23:26And a bag of groceries.
0:23:27 > 0:23:29And that's just about it.
0:23:29 > 0:23:32And, if you don't mind your favourite sofa doubling up
0:23:32 > 0:23:37as the stalls, you could have a financial hit on your hands.
0:23:37 > 0:23:39We're renting this property for a few weeks
0:23:39 > 0:23:43and the owner of the property stands to earn a few thousand pounds.
0:23:43 > 0:23:45Now that IS some serious dosh.
0:23:45 > 0:23:48And the whole event is getting rave reviews.
0:23:48 > 0:23:49Thought it was brilliant.
0:23:49 > 0:23:51Really, really great. Exciting.
0:23:51 > 0:23:54It was really great to be that close to the actors,
0:23:54 > 0:23:57particularly within a naturalistic environment of a house.
0:23:57 > 0:23:59Yeah, it was great. It was a really good way to see a play.
0:23:59 > 0:24:01It's gone really well.
0:24:01 > 0:24:02The audience has just left.
0:24:02 > 0:24:06They're buzzing, full of conversation about the experience.
0:24:06 > 0:24:07Left the flat in a bit of a mess,
0:24:07 > 0:24:09so it's time for us to start tidying up.
0:24:09 > 0:24:11Now, that's the magic of theatre.
0:24:11 > 0:24:15And another brilliant way to make your hard-earned home
0:24:15 > 0:24:16work hard for you.
0:24:21 > 0:24:23It seems that things we have lying around our homes,
0:24:23 > 0:24:27and in some cases other people's, can be worth some serious money.
0:24:27 > 0:24:32Right now, I'm with two super-savvy recyclers,
0:24:32 > 0:24:33Jan Woolley and Cat Fletcher.
0:24:33 > 0:24:37Jan, explain to me, what is upcycling and what is it
0:24:37 > 0:24:38that you do?
0:24:38 > 0:24:42Upcycling is taking something that maybe didn't have a use for before
0:24:42 > 0:24:45and doing something like reupholstering or painting it
0:24:45 > 0:24:46and making it into something beautiful.
0:24:46 > 0:24:49Are you talking about the sort of things people might
0:24:49 > 0:24:51take to the dump or throw in the garage, or in some cases,
0:24:51 > 0:24:53- even fly-tipping?- Possibly.
0:24:53 > 0:24:55- Yes, yes.- Can I question, Jan,
0:24:55 > 0:24:59whether all this effort actually reaps its rewards?
0:24:59 > 0:25:02- Can you make serious money? - You can do, yeah. You certainly can.
0:25:02 > 0:25:04Many people out there are doing it.
0:25:04 > 0:25:07Some people start from a hobby and enjoy it so much that turn it
0:25:07 > 0:25:10into a business. They're just good at it.
0:25:10 > 0:25:11So, you can do it,
0:25:11 > 0:25:15especially if you develop your own style and your own creativity.
0:25:15 > 0:25:17- Yeah.- If you try not to copy people, that's great.
0:25:17 > 0:25:19Just take inspiration from other people.
0:25:19 > 0:25:21Yeah, you can do. Yeah.
0:25:21 > 0:25:23So, Cat, tell me what you do.
0:25:23 > 0:25:26What I do is intercept discarded objects and keep them from going to
0:25:26 > 0:25:28landfill, incineration or recycling.
0:25:28 > 0:25:32One of the ways I do that is via the website that I help run called,
0:25:32 > 0:25:33Ilovefreegle.org
0:25:33 > 0:25:37And it just means, if you've got something at home you no longer need or want,
0:25:37 > 0:25:40you can list it on to your local Freegle group and then you will
0:25:40 > 0:25:44undoubtedly find someone nearby to you that is happy to come and
0:25:44 > 0:25:46collect that item and they'll re-use it.
0:25:46 > 0:25:50With a name like that, the secret is it must be something that's free?
0:25:50 > 0:25:52- Absolutely.- You can't sell it on there?
0:25:52 > 0:25:53No. You can't sell it on.
0:25:53 > 0:25:54So, everything's free.
0:25:54 > 0:25:57- Can I be blunt about this?- Yeah.
0:25:57 > 0:26:01Is there anything on there that actually has any real good value
0:26:01 > 0:26:04- or is it all old tat?- It is not old tat at all.
0:26:04 > 0:26:09So, in the UK we consume 600 million tonnes of new products every single
0:26:09 > 0:26:12year. Only 115 million get recycled.
0:26:12 > 0:26:14So, there's a lot of stuff in-between there
0:26:14 > 0:26:16that's getting hoarded,
0:26:16 > 0:26:18or getting upcycled, or getting reused.
0:26:18 > 0:26:22And it's just a really wide range of things available.
0:26:22 > 0:26:25So, Cat, is your house full of stuff that you've upcycled?
0:26:25 > 0:26:28My house is full of stuff that I've found for free.
0:26:28 > 0:26:31- Yeah.- Out of skips, on the street, from friends.
0:26:31 > 0:26:34I literally don't buy anything new at all for my house.
0:26:34 > 0:26:37Everything has a story. That's probably the lovely thing about reusing.
0:26:37 > 0:26:40Kat, you love it, don't you? It is a fun, enjoyable job for you both, isn't it?
0:26:40 > 0:26:41It is a fun, enjoyable thing.
0:26:41 > 0:26:44You can save money and you can feel good at the same time.
0:26:44 > 0:26:47There you have it. Two super-savvy ladies loving what they do.
0:26:47 > 0:26:50And Denise is finding out if people here in Halifax market
0:26:50 > 0:26:52are super-savvy, too.
0:26:52 > 0:26:56Yes, I'm going to find out whether people are wise owls or ostriches
0:26:56 > 0:27:00burying their head in the sand when it comes to their personal finances.
0:27:00 > 0:27:01Hello. Excuse me.
0:27:01 > 0:27:04- Hi.- Hello. Can I just ask a quick question?
0:27:04 > 0:27:08- Yes.- Would you describe yourself as a wise owl or an ostrich
0:27:08 > 0:27:12when it comes to managing your finances?
0:27:12 > 0:27:14- A wise owl.- A wise owl?
0:27:14 > 0:27:17Really? Why's that, then?
0:27:17 > 0:27:19Well, because I'm in business, self-employed,
0:27:19 > 0:27:21you have to know what's happening with your finances
0:27:21 > 0:27:24and you've got to be on top of things all the time.
0:27:24 > 0:27:26I think it'll be a wise owl.
0:27:26 > 0:27:28- Of course you are.- Of course I am.
0:27:28 > 0:27:31I can't do with messing about with money, can we?
0:27:31 > 0:27:32THEY LAUGH
0:27:32 > 0:27:35You don't like the stress of it, so you always stay on top of your finances?
0:27:35 > 0:27:41Ah, yes. Never overspent. Never have to, never will do,
0:27:41 > 0:27:45because it's stupid. You're left with debts.
0:27:45 > 0:27:46Tell me why you're an ostrich.
0:27:46 > 0:27:48Because I spend my money as soon as it comes.
0:27:48 > 0:27:50Burns a hole in my pocket.
0:27:50 > 0:27:52- Really?- Yes, definitely.
0:27:52 > 0:27:54- At least you're honest.- Yeah!
0:27:54 > 0:27:58And what do you think it would take for you to turn yourself
0:27:58 > 0:28:02- into a wise owl?- Putting it in my bank and just keeping it in the bank.
0:28:02 > 0:28:05Keeping it in the bank. But you know what you need to do?
0:28:05 > 0:28:09Get yourself a spending diary and log every spend that you make.
0:28:09 > 0:28:10That will probably help you.
0:28:10 > 0:28:11- OK.- Yeah?- Yeah.
0:28:11 > 0:28:13Thanks for being so honest.
0:28:13 > 0:28:16Oh, no. Don't you run away from me, I'm quicker than you.
0:28:16 > 0:28:17We know you are. Yeah.
0:28:17 > 0:28:19We know you're quicker than us.
0:28:19 > 0:28:22Tell me, how would describe yourself when it comes to managing your
0:28:22 > 0:28:26finances? You can both pick one very carefully.
0:28:26 > 0:28:27Oh, definitely a wise owl.
0:28:27 > 0:28:29I'm a wise owl as well.
0:28:29 > 0:28:31Both wise owls - that's a good combination.
0:28:31 > 0:28:34- Yeah, it is.- What's hers is mine and what's mine is my own.
0:28:34 > 0:28:36We're not married, so it's all right.
0:28:36 > 0:28:38THEY LAUGH
0:28:40 > 0:28:43Well, it seems the good people of Halifax
0:28:43 > 0:28:45are wise owls when it comes to their finances.
0:28:45 > 0:28:47Keep up the good work.
0:28:51 > 0:28:52Earlier on, we met widow Carol,
0:28:52 > 0:28:56who's finding it hard to adapt to her changed circumstances.
0:28:56 > 0:28:59Let's see if our money man Simon has managed to make a difference.
0:29:01 > 0:29:03Four years ago, Carol Bowes was
0:29:03 > 0:29:07left devastated after the sudden death of her husband, Peter.
0:29:07 > 0:29:09Since then, she and son Ian have
0:29:09 > 0:29:12been struggling to juggle the family finances.
0:29:13 > 0:29:17Obviously, there was the emotional side of things, you know,
0:29:17 > 0:29:22when he passed away. And I just felt as though everything was on my shoulders.
0:29:22 > 0:29:24I do worry about my mum.
0:29:24 > 0:29:27I do worry about how she's going to make the transition.
0:29:27 > 0:29:30If she's going to make a correct transition and she's not going to
0:29:30 > 0:29:35end up going into debt by carrying on her old ways on a lower income.
0:29:35 > 0:29:37On his first visit,
0:29:37 > 0:29:41personal finance expert Simon Reid saved Carol hundreds of pounds by
0:29:41 > 0:29:45tackling the household bills and giving her a crash course in haggling.
0:29:45 > 0:29:47You've got to be hard. You've got to keep to a price,
0:29:47 > 0:29:49and then you'll get the right deal.
0:29:49 > 0:29:51My heart just beats fast.
0:29:51 > 0:29:54It's like... It's not easy.
0:29:54 > 0:29:57And he gave her a spending diary to fill in for a week.
0:29:57 > 0:30:00Now he's back to see how she got on.
0:30:00 > 0:30:05How much do you think you spend a week doing this?
0:30:05 > 0:30:08I think I've spent about £100 a week.
0:30:08 > 0:30:10OK.
0:30:10 > 0:30:11I've totted up all the figures here.
0:30:11 > 0:30:16In fact, you've spent nearer £170
0:30:16 > 0:30:20- which just goes to show how quickly we go through this money.- Yes.
0:30:20 > 0:30:22Even though you say you had to spend all this money,
0:30:22 > 0:30:24it tots up very quickly.
0:30:24 > 0:30:27- I notice you have a meal here, it's £30.- Mmm.
0:30:27 > 0:30:31You do that quite a lot. That ends up to a lot of money.
0:30:31 > 0:30:34A lot of my spending does involve meeting people.
0:30:34 > 0:30:36I've got this big circle of friends.
0:30:36 > 0:30:40We know you're not going to find it so easy in the coming few years,
0:30:40 > 0:30:43so you have to think about what parts of your lifestyle you want to
0:30:43 > 0:30:46continue spending on, and where you can do cutbacks.
0:30:46 > 0:30:49Is there a way of cutting back on that by maybe,
0:30:49 > 0:30:51just entertaining at home, or something like that?
0:30:51 > 0:30:55Simon thinks if Carol is really serious about saving money
0:30:55 > 0:30:58she's going to have to make some sacrifices.
0:30:59 > 0:31:03If you want to spend a large part of your income on nice things,
0:31:03 > 0:31:07that's fine, but then you have to accept we can't maybe afford some of
0:31:07 > 0:31:09the other things. We all have a choice.
0:31:10 > 0:31:14If Carol agrees to cutting down eating out to just once a week,
0:31:14 > 0:31:18she'll save an impressive £3,060 a year.
0:31:18 > 0:31:20But, since the death of husband Peter,
0:31:20 > 0:31:23family and friends have never been so important to Carol.
0:31:23 > 0:31:26It's time for Simon to meet them at one of their regular haunts -
0:31:26 > 0:31:29a theatre in Bradford.
0:31:29 > 0:31:32So, Carol, you've brought me to meet two of your friends here.
0:31:32 > 0:31:35Hello, Marie. Hello, Emma. Thanks for talking to us.
0:31:35 > 0:31:39Now, you've been through quite a tough time in recent years.
0:31:39 > 0:31:44Presumably, having your friends on hand has helped you through that.
0:31:44 > 0:31:47Yes. I wouldn't have got through it without my friends.
0:31:47 > 0:31:52I was saying earlier on about having to be strong and letting the boys know I was OK.
0:31:52 > 0:31:55But, having my friends there meant there were times I didn't have to be
0:31:55 > 0:31:58OK because I could let go with my friends.
0:31:58 > 0:32:01It's that support network that's so important, isn't it?
0:32:01 > 0:32:03- Yes.- Definitely.
0:32:03 > 0:32:06Carol's friends have clearly been a lifeline for her.
0:32:06 > 0:32:08But now it's time to talk money.
0:32:08 > 0:32:11So, how often do you go out together a month?
0:32:11 > 0:32:13Sometimes it can be twice a week.
0:32:13 > 0:32:16Sometimes it can be a lunchtime and an evening.
0:32:16 > 0:32:20I don't know how much you might expect to spend on a night out at a
0:32:20 > 0:32:23theatre. Are tickets £50, or...?
0:32:23 > 0:32:25If you get a good seat, more than that.
0:32:25 > 0:32:28If you don't...
0:32:28 > 0:32:29I think, these days, it's a minimum of 50.
0:32:29 > 0:32:32A minimum of 50. And then you're going to be spending money on drink,
0:32:32 > 0:32:36and maybe food at the same time?
0:32:36 > 0:32:38We like Prosecco now and again, don't we?
0:32:38 > 0:32:42Let's drink to friendship, future, and fun at the theatre.
0:32:42 > 0:32:45- Yes, great.- Cheers.- Cheers.
0:32:46 > 0:32:50But Simon wants to put the spotlight on a way Carol can still enjoy the
0:32:50 > 0:32:52theatre without paying £50 a pop.
0:32:52 > 0:32:54Time to meet Megan.
0:32:56 > 0:32:57- Hi, Megan.- Hi.
0:32:57 > 0:33:00So, here at the Bradford Playhouse we have a volunteer programme,
0:33:00 > 0:33:04which is basically getting people like you, who love theatre,
0:33:04 > 0:33:08involved in working front of house and backstage for the theatre.
0:33:08 > 0:33:11You can get involved by ushering,
0:33:11 > 0:33:16which means you get to watch the show, and help out at box office,
0:33:16 > 0:33:19working behind the bar, helping out backstage,
0:33:19 > 0:33:21or even on stage, if you want.
0:33:21 > 0:33:23Oo. That would be a challenge.
0:33:23 > 0:33:26If you want to just do one evening a month,
0:33:26 > 0:33:29or if you wanted to do one evening a week, you're more than welcome.
0:33:29 > 0:33:31That's really interesting, that.
0:33:31 > 0:33:34- I didn't really know about that but it's certainly definitely something to think about.- Yes.
0:33:34 > 0:33:37It would be well worth... We'd love to have you.
0:33:37 > 0:33:40- It's something you'll follow up?- Yes, I think I will actually.
0:33:40 > 0:33:41Might we see on stage?
0:33:41 > 0:33:44I think I'll probably do more front of house
0:33:44 > 0:33:49- than stage work but, yes, they can come and see me at the front of house.- Yeah, yeah.
0:33:49 > 0:33:53Cutting down on theatre trips and joining Megan's club
0:33:53 > 0:33:57means that Carol could save another £2,400 a year.
0:33:57 > 0:33:59Bravo, Simon!
0:33:59 > 0:34:03Many theatres around the country run similar volunteering schemes.
0:34:03 > 0:34:07So, if you love the smell of grease paint but want to save some cash,
0:34:07 > 0:34:10check out the ones in your local area. And, for an encore,
0:34:10 > 0:34:14Simon has another clever way for Carol to claw back some cash.
0:34:14 > 0:34:18She tends to pay for her holidays and favourite pampering treatments
0:34:18 > 0:34:21on her credit card, which has got Simon thinking.
0:34:23 > 0:34:24You have a cashback card, don't you?
0:34:24 > 0:34:27- Yeah.- So, by using the card to pay for regular expenses,
0:34:27 > 0:34:29- you make a bit of money on top.- Yes.
0:34:29 > 0:34:31Which is a wonderful and really clever thing to do.
0:34:31 > 0:34:35So, what's your cashback rate on your card at the moment?
0:34:35 > 0:34:37At the moment, it's about 0.5%
0:34:37 > 0:34:39About 0.5%. So, if you're spending £800 a month,
0:34:39 > 0:34:42that means you're getting £4 cashback a month.
0:34:42 > 0:34:46Brilliant stuff! That's £4 extra for doing nothing - for smart spending.
0:34:46 > 0:34:50But you if switch to a card which paid a much higher rate and there's
0:34:50 > 0:34:54a deal at the moment where you can get 5% for the first three months,
0:34:54 > 0:34:57that would give you £40 month.
0:34:57 > 0:35:01Over three months' period, you end up with £100 more in your pocket.
0:35:01 > 0:35:03- Yes.- Which has got to be worth doing, isn't it?
0:35:03 > 0:35:07Yes, it has. Yeah, it's just making that effort to do it, isn't it?
0:35:08 > 0:35:12Come on, Carol, a simple switch could make you £100.
0:35:12 > 0:35:15Remember though, to avoid high interest charges,
0:35:15 > 0:35:20always pay your credit card bill in full at the end of every month.
0:35:20 > 0:35:23And there's one other thing Simon's been helping Carol with,
0:35:23 > 0:35:25trying to get her house sold.
0:35:25 > 0:35:29A week ago, he asked property makeover specialist Anita
0:35:29 > 0:35:32to take a look at why it wasn't selling.
0:35:32 > 0:35:34Anita had a few simple suggestions,
0:35:34 > 0:35:39like decluttering and buying bright new cushions and curtains to help
0:35:39 > 0:35:40speed up the sale.
0:35:40 > 0:35:44I really am surprised and amazed at how lovely they do look.
0:35:44 > 0:35:47And I just wish I'd have done it quite a while ago now.
0:35:47 > 0:35:52UK homeowners make on average £78,000 when they downsize.
0:35:52 > 0:35:56And that's exactly how Carol plans to secure her retirement.
0:35:56 > 0:35:58And there's been a development,
0:35:58 > 0:36:01because she's already got someone booked in to look around.
0:36:01 > 0:36:02Yeah, yeah, it's really good news.
0:36:02 > 0:36:05I've got a potential buyer coming round.
0:36:05 > 0:36:07They're having a look and see what they think and give me some
0:36:07 > 0:36:10feedback and you never know they might want to buy it!
0:36:10 > 0:36:12- Nice to meet you. - Thank you very much.
0:36:12 > 0:36:16So having viewed Carol's crib, what's Judy's verdict?
0:36:16 > 0:36:20- I'm downsizing...- I think it's lovely, she's maintained it well.
0:36:20 > 0:36:24I think upstairs, the bathrooms and bedrooms are fabulous.
0:36:24 > 0:36:30Judy sounds impressed and it seems our house seller has learnt a few tips along the way.
0:36:30 > 0:36:33It's opened my eyes again for the future,
0:36:33 > 0:36:35so that when I get my new house,
0:36:35 > 0:36:38I'll be able to bring all of the things I learnt from here and
0:36:38 > 0:36:41enhance the new one, so I'm quite excited about it, really.
0:36:42 > 0:36:45Result. If the house sells,
0:36:45 > 0:36:49Carol will have laid the foundations for a secure financial future.
0:36:49 > 0:36:52But before that, Simon has made plenty of savings
0:36:52 > 0:36:55to help get Carol's house in order.
0:36:55 > 0:36:57He brought the curtain down on her weekly theatre trips,
0:36:57 > 0:37:00switching to a new TV and broadband package,
0:37:00 > 0:37:03and signing up with the new energy provider.
0:37:03 > 0:37:05Being clever with her cashback credit card
0:37:05 > 0:37:08and cutting back on those expensive nights out
0:37:08 > 0:37:13could save Carol £6,135.
0:37:13 > 0:37:15Good work, Simon.
0:37:15 > 0:37:18I do feel more confident going forward.
0:37:18 > 0:37:21I knew that you could do savings before,
0:37:21 > 0:37:24but I think it's motivated me more when you actually can see the
0:37:24 > 0:37:27difference and you can see the amount of money that you can save.
0:37:27 > 0:37:30I'll be doing that year on year from now on.
0:37:30 > 0:37:33Knowing where money is, where she can save money
0:37:33 > 0:37:37and how she's spending it, I feel more of a supportive son,
0:37:37 > 0:37:39because nobody wants to see their own mother struggle.
0:37:39 > 0:37:44So it's motivated me to press her on the issues and make sure that she's
0:37:44 > 0:37:46OK and help her out as best as I can.
0:37:46 > 0:37:49And what would husband Peter think of it all?
0:37:49 > 0:37:53I think Pete'll probably be looking down and just laughing and saying,
0:37:53 > 0:37:55come on, just get on with it now.
0:37:55 > 0:37:56I think that's probably what he'd be saying.
0:37:56 > 0:38:00- He'd definitely be laughing at the boot sale.- Yes.
0:38:00 > 0:38:02- Yeah, definitely. - Yeah, he'd be saying...
0:38:02 > 0:38:04- He'd have loved seeing you do that.- Yeah.
0:38:13 > 0:38:16I'm delighted to say that Carol is here along with Simon.
0:38:16 > 0:38:21Carol, I guess the question we all want to know is have you managed to sell that house yet?
0:38:21 > 0:38:23No, it hasn't sold yet.
0:38:23 > 0:38:27- OK.- I have taken it off the market, but for a very good reason.
0:38:27 > 0:38:30I took on board the advice that Anita had given
0:38:30 > 0:38:35and I've been focusing recently on getting some improvements done outside the house.
0:38:35 > 0:38:39I've had the roof repaired and the patio that she was telling me about
0:38:39 > 0:38:42that was looking a little bit grubby and the paint was coming off,
0:38:42 > 0:38:45so I've had all of that retiled and repainted.
0:38:45 > 0:38:48So when all that's done, is your intentions to get it back on the market?
0:38:48 > 0:38:52Yes, it is. What I'm going to do next is I'm going to start looking
0:38:52 > 0:38:56at the bedrooms and the advice she gave me was to obviously declutter,
0:38:56 > 0:39:00depersonalize even further, but to actually make things more neutral.
0:39:00 > 0:39:04You know, I can sort of take great pleasure in sorting that out,
0:39:04 > 0:39:08getting it really into a better place to put it on the market.
0:39:08 > 0:39:12And do you think along with Simon's advice and with Anita's, it's what you needed,
0:39:12 > 0:39:15it was a bit of a life laundry, a bit of a wake-up,
0:39:15 > 0:39:19and you need to change a few things and improve in a few areas, you know?
0:39:19 > 0:39:21It is, because you always think you've got a lovely home,
0:39:21 > 0:39:24and everybody tells you, all your friends and your family tell you that.
0:39:24 > 0:39:28But I think it just needs that independent look that someone will
0:39:28 > 0:39:31come and actually be honest with you, but in a constructive way,
0:39:31 > 0:39:33so they're not criticising,
0:39:33 > 0:39:36but what they are saying is for a very small amount of money,
0:39:36 > 0:39:40and just a bit of time, you can actually make a big difference.
0:39:40 > 0:39:44Yes. What was the biggest surprise of this meeting Simon and Anita?
0:39:44 > 0:39:48What do you think shocked you the most about what you were saving?
0:39:48 > 0:39:53I think it was the fact that I was just spending without really
0:39:53 > 0:39:55recognising what it was going on.
0:39:55 > 0:39:59And keeping the diary was a little bit of an eye-opener.
0:39:59 > 0:40:03So you were telling me earlier about your haggling for a new car?
0:40:03 > 0:40:06Yes, yeah, I've just recently found myself in a situation
0:40:06 > 0:40:09where I've needed to look for a new car.
0:40:09 > 0:40:13And I found myself listening to those tips that you gave me,
0:40:13 > 0:40:16had your voice there on my shoulder and in my head.
0:40:16 > 0:40:18That's a scary thought.
0:40:18 > 0:40:22But you know, the car dealer sort of started off with a figure.
0:40:22 > 0:40:25I stuck to the original price that I had wanted,
0:40:25 > 0:40:27and eventually I did get it.
0:40:27 > 0:40:32So I was really pleased about that because even my son was impressed
0:40:32 > 0:40:34with how I'd done the haggling.
0:40:34 > 0:40:37It sounds to me like you've been on an incredible journey
0:40:37 > 0:40:40and come a long way in a short space of time.
0:40:40 > 0:40:42What have you learnt from the show?
0:40:42 > 0:40:44Being confident,
0:40:44 > 0:40:47and about of dealing with the issues that I'm facing at the moment around
0:40:47 > 0:40:51selling the house, and I now know with the estate agents,
0:40:51 > 0:40:55what I need to look for, how I need the literature presented,
0:40:55 > 0:40:56all of that sort of thing.
0:40:56 > 0:41:00So I'm going to be far more savvy when I'm putting it on the market
0:41:00 > 0:41:02again and choosing who I'm going to do that with.
0:41:02 > 0:41:06But then the other area is the confidence with the bills,
0:41:06 > 0:41:10and knowing that you just have to try, you just have to push,
0:41:10 > 0:41:13and every bill that comes in, always try and get that reduced,
0:41:13 > 0:41:15sometimes you win, sometimes you won't,
0:41:15 > 0:41:18but just to try at least get the things reduced.
0:41:18 > 0:41:19You've really taken control, haven't you?
0:41:19 > 0:41:23Yes, yeah, and I'd say it's that, the confidence to deal with that,
0:41:23 > 0:41:25that's the thing that's come across mostly.
0:41:25 > 0:41:27And Carol, at the end of the film,
0:41:27 > 0:41:30I mean, you know, I'm struck by your comments,
0:41:30 > 0:41:35that you said your husband would be really proud of you as well.
0:41:35 > 0:41:37You know, looking at what you've achieved so far,
0:41:37 > 0:41:39how does that make you feel?
0:41:39 > 0:41:41Yeah, he'd have probably just thought, oh, you know,
0:41:41 > 0:41:45she wouldn't be able to do this and a few years ago I would have struggled, as I said.
0:41:45 > 0:41:51But, yeah, he'd be thinking good on you, girl. You're doing all right.
0:41:51 > 0:41:52Thank you both.
0:41:52 > 0:41:56Now Carol here wrote to us after watching last year's programme,
0:41:56 > 0:41:58seeing the difference we made to other people's lives.
0:41:58 > 0:42:01So if you fancy getting one of our experts around to sort out your
0:42:01 > 0:42:04finances, send us an e-mail to...
0:42:07 > 0:42:09Meanwhile, here are some other ways
0:42:09 > 0:42:11you could end up with a bit more cash in your pocket.
0:42:14 > 0:42:18Our website has everything you need to sort out your spending.
0:42:18 > 0:42:21We've teamed up with the Money Advice Service
0:42:21 > 0:42:24to bring you easy-to-use money-saving tools to plan your
0:42:24 > 0:42:28budget, calculate the cost of your car or credit cards,
0:42:28 > 0:42:30and give your money a complete health check.
0:42:30 > 0:42:33Download them at...
0:42:38 > 0:42:42Well, Simon's still with us to answer some questions from people that we've met today.
0:42:42 > 0:42:46Dan wants to know what is a lifetime ISA and should he be getting one?
0:42:46 > 0:42:49Well, a lifetime ISA is a government scheme
0:42:49 > 0:42:51that encourages people to save.
0:42:51 > 0:42:53It's available to anyone under the age of 40.
0:42:53 > 0:42:57And you can save up to £4,000 a year in it.
0:42:57 > 0:42:59So far so good but there's a great bonus.
0:42:59 > 0:43:02The government will give you 25% extra of anything you save in the year.
0:43:02 > 0:43:05So if you save £4,000, you'll get an extra £1,000 from the government.
0:43:05 > 0:43:08That sounds great, but there are some restrictions.
0:43:08 > 0:43:10You must use it for either buying a home,
0:43:10 > 0:43:13ie you're a first-time buyer and you put it towards your deposit,
0:43:13 > 0:43:15or you save it for your pension.
0:43:15 > 0:43:18If you need it earlier for any reason at all,
0:43:18 > 0:43:21then you'll lose the 25% plus there'll be a penalty charge.
0:43:21 > 0:43:24So you must be absolutely clear why you want it,
0:43:24 > 0:43:26and you're going to use it for the right purpose,
0:43:26 > 0:43:28otherwise it'll be a costly mistake.
0:43:28 > 0:43:30OK. Now Jack's a worried man,
0:43:30 > 0:43:33he says my girlfriend is moving into my house.
0:43:33 > 0:43:36Will she have any rights to my property?
0:43:36 > 0:43:37He's a man full of love, isn't he?
0:43:37 > 0:43:39At least he's checking first.
0:43:39 > 0:43:42Look, the fact is when you move in with someone else,
0:43:42 > 0:43:45you have no rights to their property at all.
0:43:45 > 0:43:47So Jack shouldn't worry,
0:43:47 > 0:43:51but if she starts giving him money towards a home,
0:43:51 > 0:43:52if there's an implied agreement,
0:43:52 > 0:43:55if she thinks she's paying towards a mortgage,
0:43:55 > 0:43:59then maybe she may have a claim on him in the future if they split up
0:43:59 > 0:44:00and she leaves.
0:44:00 > 0:44:05So what I would say to him, or anyone in this position, is draw up a simple agreement.
0:44:05 > 0:44:09Draw up the fact that someone's just coming in to share your home, they have no rights.
0:44:09 > 0:44:11And both parties should be happy with that,
0:44:11 > 0:44:14because they don't want to fight about it later.
0:44:14 > 0:44:17Be careful, Jack. Get a contract signed, take no money.
0:44:17 > 0:44:19Some top tips there, my man.
0:44:19 > 0:44:22Thank you very much. And also a big thank you to all our guests today.
0:44:22 > 0:44:24And not forgetting you at home too.
0:44:24 > 0:44:26So until next time...
0:44:26 > 0:44:28Keep saving.