Generations Working Together
How I repaid bank of mum and dad by sharing tech tips that helped them save £3k a year
New research from communications provider Plusnet shows 84% of Brits believe it’s important to teach children about the value of money. But its young people scouting the best value deals and sharing the knowledge rather than their parents.
Baby boomers are the generation synonymous with make do and mend, savings and avoiding waste. But it seems they are being taught a thing or two about being thrifty… by their millennial children.
The Plusnet research reveals young people find 10 good value deals per month - nearly twice as many as over 60s who find only six.
Among them is Aimee Wilkinson (35), from Leeds, who works in social media marketing. By sharing her tech knowledge with her parents to find the best deals online, she has helped them save over £3,000 a year.
Aimee, who lives near her parents Sandra and Steve in Leeds, said: “My dad introduced me to money early on and taught me the importance of saving, setting goals, and knowing when to treat yourself.
“My parents have supported me financially over the years and now I’m able to help them back. I thought it would be useful to apply the knowledge that’s second nature to people my age, to show them how to get the best deals online and use things like apps and technology to get more for their money.”
Aimee started by helping her parents run through their bills using a price comparison site to see where they could get better value.
As a result, they are switching to Plusnet’s £23.99 fibre broadband, which will save them £118 a year compared to their previous supplier.
“Having lived in rented flats before, I’m used to searching for the best deals on my bills. But my parents and a lot of their friends have stuck with the same providers for years.
“My dad runs his own property development business so having reliable broadband is essential and switching to Plusnet will save them over £100 a year.
“I also run a fashion blog and I’m building up my Instagram @stylebyaimz, so having fast reliable broadband isn’t a choice for me - it’s a necessity.”
Aimee also started sharing money saving apps with her parents, including Airtime Rewards, an app that lets users save money on their phone bill every time they use the card at certain retailers, and Swagbucks, an app that lets you earn cash by simply watching ads and completing online surveys.
She said, “All of my friends know about money-saving apps, but people my mum’s age group hasn’t heard of them so much. Since I set her up, my mum’s been saving money at places like Argos, Boots and Primark. Doing that combined with similar cashback sites and apps like Quidco, Groupon and Wowcher, she now saves around £480 per year.”
Joanna Carman, Director at Plusnet, said: “Our research shows that each generation has their own way of finding good value. Everyone is looking to get value for money now and younger people are using tech to lead the way. At Plusnet, we believe good value is more than just price, and for us it’s simple, reliable broadband with great customer service.”
The Wilkinson family also has a WhatsApp group where Aimee, her parents, her brothers Adam, 38, Matthew, 30, and sisters Chloe, 32, and Anna, 28, regularly share money saving tips, tricks, bargains and promo codes with one another. Aimee says the promo codes alone have saved her parents around £500.
Aimee said: “When it comes to saving money, it’s not just about shopping sensibly and setting monthly budgets, it’s also about knowing where to look for good deals, getting creative, being tech savvy, finding unusual ways to bring in extra income like selling things online or starting a side hustle doing something you love.
“I now use apps like idealo, GoCompare, and MoneySuperMarket when buying anything. I also share the links with the family if they’re looking to buy anything from home insurance to a new pair of trainers, as well as checking online reviews and news articles.”
Aimee also introduced her parents to websites to save money on holidays and getaways. These include package holiday listing sites Kayak and TravelSupermarket, sites to find flash deals on experiences and days out like Travelzoo and Secret Escapes and sites to find the best deals on flights like travel company website Skyscanner.
She said: “By using these websites, my parents have gone on two skiing holidays to the Swiss alps and a holiday to Santorini in Greece, saving around £1,150. The sites also let them filter holiday options by star-rating and board so they can remove things they don’t need and add value with 'freebies' like airport shuttles, parking and internet access.”
As well as saving on new buys, Aimee has also helped her mum make money from selling unworn clothes on Vinted and old furniture on eBay and Facebook Marketplace.
“When I moved into my new flat, I cleared out a lot of old stuff and put it on these sites. Since I started selling on there, I’ve made over £2,000. I got my mum set up on the site and she’s already earned £360 by selling clothes, old furniture and unopened cosmetics, and as well as saving £430 by buying things second-hand online herself.
“I really got into these kinds of apps when furnishing my flat and was able to find a practically brand-new TV stand for just £50 on Facebook Marketplace for instance.
“I’m so grateful to my parents for teaching me the importance of good value, and I love being able to show them new tips and tricks to help them get the most out of life as well.”
Plusnet was born in 1997 with a simple plan – to think and act differently from other communications providers and save consumers money. That's not changed since the day we launched; 25 years later we're still providing great value phone, broadband and mobile services nationwide, from our HQ in Yorkshire.
For more information visit: http://www.plus.net.