She’s the queen of thrifty thinking and was living mortgage-free before she reached 40. We caught up with Money Mum Gemma Bird for budget tips, Christmas savings and how to teach kids the value of money.
You’ve spoken about how getting divorced and living back with your mum at 29 inspired you to get your life on track. Now happily married and with an Insta following of over 488k — what is your favourite thing about being Money Mum?
“I love having the chance to talk to so many people online and make them aware that it is OK to not have loads of money. What’s important is that we get people talking about money and sharing any deals to be found. I’m all about raising awareness and spreading the word.”
Were you always financially savvy?
“Yes, I think I was. From the age of seven I remember picking up pennies on the way to school — it was just the way I was brought up. We had to save for everything. I didn’t grow up with a lot of money around me, so putting a little aside was always important.”
You paid off your mortgage by the time you were 37 — were there any sacrifices made to get there?
“During my 20s and up until turning 37, I put every penny of the small amount I earned into investments. I took risks, bought properties, and eventually earned the financial freedom I always wanted. I’ve since moved, so I have taken on a mortgage again, which I am trying to pay off. Me being me, I have already set up an overpayment plan!”
You’re famous for sharing money-saving hacks. Do you ever splurge?
“I like the odd treat — for example, every couple of years I might buy myself a designer handbag — but only if it’s something I really want and certainly not every year. Treating yourself is important. We work hard for our money, and that’s the purpose of working — to enjoy some nice things, have financial freedom as much as you can and not have to worry as much about paying the bills.”
You sing the praises of having regular ‘no spend days’ — what would your perfect one involve?
“Covid taught us we don’t have to spend to enjoy ourselves. The most important thing is seeing other people. For me, that might be seeing a friend and having them over for dinner and a movie. No-spend days are great to help you set goals and save. They switch your mindset and help you realise you don’t have to buy everything to have a good time. It’s about learning a saving pattern. Many of us find it difficult to manage money. Thankfully, it is something I am good at — especially seeing as I’m not good at most things!”
Are your children aware about the value of money?
“100%, as I teach them about financial freedom. Bronte’s only six, so it’s a case of making sure she is aware that things cost money and giving her choices. Even if I am somewhere like Poundland, I will tell a little white lie and say, “Mummy can only afford to buy you one thing,” so it makes her aware she can’t have everything. With my son, Brody, I give him a set amount of pocket money — and when it’s gone, it’s gone. I never replace it.”
You meet so many interesting people in your job — when were you the most starstruck?
“When I first started Money Mum, I was starstruck with everybody. I’ve calmed down now, but I would say the wow moment for me was when I met Steven Bartlett on the red carpet. I’m a massive fan of his podcast — Diary of a CEO — and it was so cool to meet him.”
Speaking of the red carpet, you always look glam. What’s your secret?
“I don’t look amazing most of the time, trust me — in fact, most of the time I look terrible! I do try to look after my skin, though. I always use a cleansing balm to take my make-up off at night and then double cleanse with a facial wash for oily- to acne-prone skin, as I’ve always suffered with spots. I also try to use a weekly face mask of some kind, be it a mud mask, Garnier sheet or Elemis, when I’m treating myself. At my age, night cream is also so important. It doesn’t have to be expensive. I like a lot of the L’Oréal night creams, which seem to work for me.”
You’ve been refreshingly vocal about your mental health, in particular anxiety and depression. Do you have any tips for others suffering?
“I wish — but there is no magic fix. I suffer with it daily. Even this morning I woke up with this pit in my stomach and felt like I didn’t want to get up. The only thing that ever makes me feel better is seeing other people. Changing the environment I am in — maybe getting outside and going for a walk or even watching something on TV to take my mind off it. Some days I just can’t get myself out of it, and I tell myself that it will go — and it will also come back. That’s my normal. I’m always going to have good days and bad, probably for the rest of my life, and it is something I am learning to accept.”
One last question. With Christmas here, what is your top tip for keeping costs as low as you can?
“Christmas is just one day — a roast and a few presents. If you are on a strict budget, just buy for the children in the family. Charity shops are a must to have a look around, especially for anyone under the age of eight, as they do not care if something comes in a box. Pretty much all of Bronte’s things come from charity shops. It’s only when kids get older — like my son’s age — they start asking for expensive things like an iPad, and that’s when clubbing together comes in. We say things like, “If Mummy and Daddy put a set amount in, maybe you could ask your Nans to also contribute? It is only one day — so before you max out your credit card, ask yourself this: is it really worth getting in debt for one hour of opening pressies in the morning? Hold your nerve. Christmas will be over quicker than you think!”
Follow Gemma for more money-saving tips at www.instagram.com/moneymumofficial
