I always do my food shop at three supermarkets! And that’s not my only frugal habit…

It’s funny how certain sayings stick with you. Growing up, my mum had one mantra that she lived by: “A penny saved is a penny earned.” It’s a phrase that’s stayed with me to this day. We moved from Cornwall to a modest house in Yorkshire when I was seven. Whilst I have loads of fond memories, luxury didn’t abound. The cooking facilities were archaic. Insulation barely existed. And the cherry on top… an outdoor toilet; an absolute thrill at 2am during the brisk Yorkshire winter!

The heating situation wasn’t much better either. I remember many nights huddled around the old-fashioned fire, trying to stay warm. And when things got really cold, my dad would even light it! My parents had certainly mastered the art of frugality, that’s for sure! Up until my teens, my wardrobe consisted almost entirely of hand-me-downs from my sister. For the record, she was six years older than me! In fact it wasn’t until I was fifteen, and started buying my own clothes, that I realised men’s zippers were on the other side!

Of course when I moved out at seventeen, with nothing more than a pillow and a toothbrush, those early budgeting lessons served me well. I learned quickly how to make my money stretch even further… For the first six months, I slept on the floor of my girlfriend’s parents’ barber shop. Let me tell you, waking up each morning with stray bits of hair stuck to your face is a sensation that lingers long in the memory (and on the tongue!)

Fast-forward a few decades, and thankfully my barber shop floor days are behind me. But even now, I’m still incredibly budget-conscious. Old habits die hard, as they say. Every week, I visit three different supermarkets to find the best deals. Maybe it’s my thrifty Yorkshire upbringing, but I can’t bear to pay over the odds for anything. Just yesterday, I saved myself £1 on carrots alone by shopping around. I was so happy I did a celebratory dance in the car park (okay; maybe dancing in the car park is a slight exaggeration)!

And it’s not just the food shop. The only reason I still drive my trusty Ford Mondeo is because it’s ridiculously economical. It gives me 700 miles on a full tank, which means I can avoid the fuel pumps for three glorious weeks at a time. Running a security business, it turns out, requires similar stringent budgeting – especially in the current climate. With the Autumn Budget looming and Sir Keir Starmer warning that it’s going to be “painful,” things are bound to get tougher.

Talk of an increase in employers’ National Insurance Contributions is rife.  On top of that, I’m keeping a close eye on the National Living Wage (NLW). In April 2024, the NLW jumped to £11.44 for those aged 21 and over. The Low Pay Commission now predicts next year’s rates could land somewhere between £11.82 and £12.39. Don’t get me wrong, we all want to pay our employees fairly. However, based on the current trajectory, the team at Advantage 1 estimates that the rate could rise by as much as 50% over the next six years.

This will clearly raise challenges, which is why we’re working tirelessly to find efficiencies and implement new cost-busting technologies. This approach will allow us to manage rising costs and continue delivering the same – if not better – service to our customers. Ultimately, it’s about striking that delicate balance between doing right by our staff, turning a profit and keeping our customers happy. And as you’ve seen, financial juggling is something I’ve had plenty of experience in throughout my life! Now if you’ll excuse me, I’m off to consult the BBC weather app to see if I can delay turning on the heating until December!

See you next week.