Our personal finance and consumer expert has revealed how she turned her finances around and became an expert saver after starting off as a self-confessed “spendaholic”.

Jane Hawkes, who advises the public on how to get the most bang for their buck on the www.ladyjaney.co.uk website, says growing up when money was tight was a catalyst for spending once she started earning herself.

Speaking during Talk Money Week the reformed spendaholic is encouraging people to open up about their finances and use her tricks to turn themselves from spenders to savers.

“When my sister and I were little, money was tight. My mum was a master of careful budgeting - although we never wanted for anything,” says Jane. “But five loaves and two fishes can only go so far!

“So although being careful with money should have come quite naturally, being brought up in a straight jacket of frugality pushed me into being exactly the opposite. When I started to earn my own money from part time jobs, I should have been encouraged to pay into the family kitty rather than then starting to spend as I did.

“My boyfriend at the time was a dreadful influence. Born into a much more affluent family, he encouraged my spending habits as a lot of my extravagant expenditure was because of, and for the benefit of, him.

“Instead of spend, spend, spending in my late teens and twenties, I should have been thinking about saving for the future. But why would I, when spending was just so much more fun? There was no bigger thrill than a new pair of shoes or another little black dress to add to my already fabulous collections.

It wasn’t until it was all laid out in front of me, when I went through my finances with a money-savvy partner after years of avoiding those conversations, that I knew I could not continue like this.

Here Jane explains she turned from a spendaholic into a savings champion – and how you can, too.

Document your spending

In the days pre budgeting apps and laptops, I started religiously recording my incomings and outgoings in a little notebook. It helped me see exactly what was going in and out- and what I was paying for that shouldn’t be.

Nowadays I have a spreadsheet workbook for all my accounts, which means that every penny is accounted for. And because all direct debits and standing orders are deducted at the beginning of the month regardless of when they go out of my account, then I always know how much I have left to play with.

Being able to easily view and track my finances means that I am a lot more financially disciplined in terms of what I spend my money on. I haven’t used my overdraft in years and I now even have savings accounts with more than £1 in them!

Make credit cards work for you

Instead of using credit cards as another overdraft, I use them as I do my debit cards by ensuring I record all purchases into my beloved spreadsheets when they are made so that they do not come as a shock when the bill comes in!

I also go for cards which offer cashback so I spend and get money for spending. Admittedly it’s not thousands of pounds of cashback otherwise that would be defeating the object as I would be spending more to get more, but it’s certainly adds a nice little bit of glitter to my purchases.

Identifying triggers

Identifying why you spend is a really important stage in the process of changing your ways.

For me it was pleasing others such as my boyfriend at the time, who loved to spend and always splashed the cash with extravagant gifts and gestures.

Spending can be used as a temporary coping mechanism for anxiety or low self-esteem because it gives you a temporary buzz. But soon after, the worry creeps in if you’ve spent money you cannot afford.

It’s important to find alternatives for the times when you do feel that. Now I take the dogs for a walk or try to do something constructive, like plan a zero spend week and channel that desire to spend elsewhere.

Avoid impulse purchases

We’ve all done it. I certainly did – I used to sneak new things into my wardrobe because I knew that I shouldn’t have been spending. That’s why I’ve tried to adopt a 30-day spending rule.

If spot something that is a ‘must have’, I make a mental note of it or even add to basket but don’t buy it yet. I then wait 30 days (or at least seven!) and if I still want it - and can afford it - then I can get it.

In the meantime, I think of how I can make money before I spend it. For example, if a new dress is on the cards priced £30, how can I raise that amount? This also helps payday splurges become a thing of the past.

Set realistic goals and be accountable for them

If you are looking to curb your spending, set realistic, achievable goals. Rome was not built in a day. I couldn’t have paid my debts off all off in one go however hard I tried but bit by bit, I chipped away at the debt and now am firmly out of the red and determined to stay there.

Having a budget buddy in a new partner really helped me stick to the plan and hold self to account for spending too.

Getting the most for my money

There’s the old saying that if you look after the pennies then the pounds will look after themselves. To me, that means making sure that anything you spend your hard-earned money on is 100% worth it, especially if it’s something you’ve worked hard to save up for.

Under the Consumer Rights Act 2015, a product should be of satisfactory quality, as described and fit for purpose and a service should be delivered with reasonable care and skill.

So here I am, a reformed spendaholic with a new love of saving. Who would have thought that being frugal would be so much fun!