Hannah Armstrong, a 29-year-old woman from Victoria, grew up in a family dedicated to frugality, thanks largely to her mother, Cath Armstrong, who founded the ‘Cheapskates Club’ to share money-saving tips with Australians. Financial challenges struck the family when both parents lost their jobs, shortly before Hannah was born, forcing them to adopt a strict budget.
Hannah credits her upbringing with teaching her the value of money and the importance of saving. By age 25, she successfully purchased her first home in Gippsland, having saved a $55,000 deposit on a $270,000 property while working part-time as a customer service representative. Even during Covid, Hannah diligently stuck to a strict budget, which allowed her to save effectively.
Her method of money management is traditional and meticulous—she uses ten different bank accounts to categorise her spending and prefers cash for daily purchases, following the “cash stuffing” trend. Despite rising living costs, Hannah maintains a monthly grocery budget of $200 by cooking from scratch and shopping at farmers’ markets.
Hannah emphasises the importance of being financially prepared and advises others to avoid overspending when buying a home. Proud of her thrifty lifestyle, she believes it has fundamentally shaped her approach to finances and life.