Find a penny, pick it up…

For those out there worried about feeling the credit crunch, perhaps it’s about time to have a look at Kath Kelly’s interesting take on frugal living, as explained in her novel How I Lived a Year on Just a Pound a Day. Having realised that there was no way she could afford a decent present for her brother’s wedding on a part-time teacher’s salary, Kath Kelly put herself through this tight regime for 12 gruelling months… and she loved it!

Rather than staying in and watching television for an entire year, Kelly admits that it was actually a lot of fun to go out on a budget, even though it means that you have to be a little creative with your evenings out. In a BBC interview, she adds that ‘My social life improved. I was out almost every night. My friends thought I would be sitting by the TV or in a library and it would be boring.’ Gallery openings, free buffets and product launches were all the types of events she frequented, and cycling everyday and buying clothes at second-hand markets provided even more opportunity to meet people.

Kath Kelly’s account of her year of living thriftily is more an amusing tale than a “how-to” guide, yet it provides a lot of handy ideas for looking out for spare change, reductions and bargains. It’s not the type of savings that will pay off your homeowner loan, debt consolidation loan or Individual Voluntary Arrangement (IVA), but it’s a simple way to ensure that more of your hard-earned stays in your pocket. Her message is ultimately that loose change and free stylist haircuts won’t fix a poor credit rating or a declined credit card, but it will change the way you view and value money.