Shopping shocker (The Vidlers)

By THIS IS MONEY
Updated: 00:00 EST, 15 December 2005

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Janice and Steve Vidler run a tight financial ship - well at least workaholic Steve does. Janice on the other hand is a shopaholic with a wardrobe that is bursting at the seams.

The couple's dream is to move from Eastbourne to Milton Keynes to cancel out Steve's daily 200-mile commute and to be nearer their daughter.

Family is especially important for Steve and Janice as they have had to come to terms with the death of their 20-year-old son Nathan.

Steve is doing a good job of running the finances - much to Martin's delight he has two copies of his book. The Vidlers are underspending by £440 a year, but is there room for improvement? By moving their mortgage from their Virgin One current account deal, which has an unimpressive rate of 5.85%, to a 4.2% deal they can save £2,000 a year.

Martin introduces the couple to the concept of stoozing - borrowing thousands on a 0% credit card then investing it in a high-interest account. Janice and Steve aren't interested, but they do go for his suggestion of a cashback credit card that will earn them £350 a year if they pay their balance off each month. Steve buys a lot of DVDs and CDs. If he shops online for them he will save £100 a year.

Janice's clothes spending habit is more serious - in her wardrobe she has more than 700,000 clothing combinations. However, shopping is something she enjoys as it helps her cope with the pain of losing her son. Martin's advice is that Janice asks herself three questions every time she wants to buy something: Do I need it? Is it worth it? Can I get it cheaper?

Other savings include £600 on their home phone and mobile bills and £100 on changing bank accounts.

It's been a tough day. By looking at their finances, the Vidlers have been forced to address other more emotional issues. But by doing so they have opened up a new dialogue and saved £4,300 a year. Happily, the couple have started looking for a new home in Milton Keynes.