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Family shares 18 money-saving tips after they paid off almost $7000 in debt in 90 days

A mum-of-two has revealed how she overcame crippling debt in a matter of months, managing to turn her life around from almost becoming homeless to saving for her first home.

UK mum Morgan Woods and her husband Tom Brown, were facing homelessness in January last year after discovering their landlord had listed their Norfolk property on the market, The Mirror reports.

Compounding matters, the couple discovered they had almost $A7000 in credit card debt.

Mrs Woods said the debt wasn’t from anything expensive but from “clothes and food and stuff” the couple didn’t need. She admitted they were “quite big shoppers”.

Morgans Woods has come up with 18 tips to save money. Source: Instagram

She said the couple didn’t have any money to move either and nothing saved for emergencies.

But the mum kept her cool and treated it like a wakeup call.

Mrs Woods came up with 18 money-saving hacks to get her credit back on track.

And it worked – in three months she cleared the credit card debt, and in one year the couple now has more than $17000 in savings to put towards a house deposit.

 “These are simple money saving tips, but when they are done regularly you’ll be surprised the difference they can make,” Mrs Woods said.

Morgan’s 18 tips:

1. Create a budget – Creating a budget will tell you what you have available and where your money’s going.

2. Clip coupons – Use coupons from newspapers and receipts to save money.

3. Look for coupon codes – Search for coupon codes online for anything you might not find in a paper or flyer.

4. Make your own lunch – Take a packed lunch to work or school.

5. Use store loyalty cards – Some loyalty cards can have great incentives.

6. Get cashback – Some websites offer cashback on items, allowing you to save money you would be spending in stores.

Mrs Woods's tips helped her erase $7000 in debt. File pic. Source: Getty Images

7. Write a shopping list – Writing a shopping list can prevent you from buying the same thing twice.

8. Be realistic – If you don’t have money to go out to dinner or see a movie with a friend, just admit it. Suggest a cheap alternative.

9. Set a goal – Sometimes saving money seems pointless. By setting a goal, it will give the action meaning.

10. Buy items with discount stickers – Look out for discount stickers at your supermarket to save money.

11. Eat leftovers – If you have food leftover in the fridge or the cupboard, eat that before buying more items.

12. Get rid of unused memberships – If you aren’t using a subscription or membership for something cancel it.

13. Borrow – Instead of buying something, think of whether you can borrow that item from a friend.

14. Use your library – Libraries have digital catalogues, saving you money from buying DVDs, and of course there are books too.

15. Unplug electrical items – Unplugging chargers and other items when they’re not in use can save money on electricity.

16. Shop around – Look around for the cheapest price instead of always going with the first option.

17. Meal plan – Plan out your meals for the following week and plan around what you already have instead of making trips to the shops.

18. Only buy what you need – Really think about your purchases. If you don’t need something then don’t buy it. Don’t get caught up in spending frenzies.