The Secret Spenders visited the Fitzgibbon family in Kent, where spending habits did not change, even though they were one salary lower than usual. The family of four hoped to save money on building an attic that would give their youngest daughter a little more space, but at around £ 35,000 it wouldn’t be easy.
TV presenter Anita Rani, financial expert Peter Komolafe and house finance expert Anna Whitehouse approached the family to find out where they could save money and maybe make some extra money.
The family has an annual income of about £ 39,000 thanks to the work of Dad Ian Fitzgibbons as an IT engineer.
However, their household income has almost doubled and the family has not yet changed their spending.
Kerrie Fitzgibbon’s mother lost her job during the pandemic and was particularly concerned about her husband’s spending when she shared her story in today’s episode of Secret Spenders on Channel 4.
She said: “It’s a bit shopaholik. He has his interests, but their precious interests. He still wants to get nice things like we both make money, but we don’t make money. I want to be able to save money. “
These interests include collecting vinyl records, train memorabilia, pampering daughters and auction sites.
One surprising revelation was the family’s spending on a transportation museum.
Mrs. Fitzgibbon said, “We went as a family once and it’s none of my business, so I said, ‘Get me out of here.’
DO NOT OVERLOOK:
Although she was only in the museum once, the family had a VIP ticket that cost her £ 2,000 a year.
Neither pair knew that tickets were taking so much from their budgets, and Mrs. Fitzgibbon said, “If I had known, it would have been canceled a long time ago!”
However, Mr Komolafe was most worried about his obsession with the auction site, where Mr Fitzgibbon spent around £ 100 a month.
He said, “You know what it’s like when you offer, the logic disappears and you end up spending more than you actually intended.”
When asked how many vinyls he has, Mr. Fitzgibbon replied, “I’ll be shaken when I think, probably 200, 300 plus,” because he only spends 50 to 100 pounds a month for this collection alone.
He said that he first enjoyed his collecting habits as a child with his parents, and hoped that he would pass on similar happy memories to his own family.
Another weak spot for spending in the family revolved around their two daughters because Mrs. Fitzgibbon had some health complications with her daughter Molly, who was bleeding during the birth.
Mrs. Fitzgibbon explained, “I was holding Molly, she was literally a few hours old, and I suddenly thought, ‘You have to get Molly fast.’ My world revolves around them. From the first day I held her, it was very ‘Whatever I can give you, you have’, but I want to give them everything. ”
As a result, both parents tried to say no to their daughters, one of whom has a relatively expensive West End obsession.
Together, including extracurricular activities, the couple spent £ 420 a month for their daughters.
By ruling on hobbies and impulsive spending for all family members and setting budget limits for people like Mr. Fitzgibbons’ habit on eBay, financial experts shared what they could save.
The pair hoped to be between £ 5,000 and £ 10,000 by the end of the year.
However, if they took into account all the advice provided by the experts, they could actually save a remarkable £ 17,260.
Mr Fitzgibbon concluded: “The amount of money we could potentially save and make from this is phenomenal!”