EXCLUSIVE: Bank of Dave’s DAVE FISHWICK reveals his ultimate guide to saving hundreds through some very canny hacks

Lancashire-born millionaire Dave Fishwick understands the value of money. 

Having left school at the age of 16 with no qualifications, the 53-year-old started out as a building labourer on just £27.50 a week. 

He began doing up old cars to sell on the side, before moving on to vans and buses. He is now the biggest minibus trader in Britain.

Dave founded the Bank of Dave 14 years ago to support his local community in Burnley, despite fierce opposition from the high street banks.

He was appalled at how big banks often refused to lend to those most in need within the communities they should serve. Two hit movies have been made about his extraordinary life, both starring actor Rory Kinnear.

The latest – Bank of Dave 2 – was released last month on Netflix and charts his battle against payday lender loan sharks. He has also released a TV documentary series, Dave Fishwick: Loan Ranger.

Dave still works a 16-hour day at the Bank of Dave office in Burnley and lives just outside the town with his wife of 30 years, Nicky, enjoying a pie for his tea and a pint at The Talbot pub He still likes to drive a hard bargain and save money where he can.

Here, Dave shares his tips and tricks to help you get your finances in better order. From buying groceries on a Friday to wearing a pair of prescription glasses to haggle, he says you’ll save hundreds of pounds…

Spend with cash – not a card

I am a great believer in cash and concerned by how the banks encourage us to use cards for spending rather than notes and coins. 

Card use just helps them justify why bank branches are being closed in such large numbers.

I fear that at the current rate of closure, with more than 50 banks and 300 ATMs closing on average every month, there will no branch network or free cash machines within a few years – unless we keep using cash.

Spend with cash and you never fall into debt – you’ll only run out of money. This means you should not have to pay exorbitant rates of interest on credit cards or fall victim to loan sharks that make their fortunes on misery.

When you hand over bank notes and coins, the money feels far more real than simply swishing a bank debit or credit card over a machine reader – so you will think harder about what you spend. Every £1 you save is £1 you no longer need to earn.

Consider borrowing from a credit union

Do not just think of going to a high street bank if you want to borrow money – consider a credit union as well.

These are not-for-profit financial cooperatives which provide savings, loans and a range of services to their members.

They are owned and controlled by members. They can also provide help if you are among the one in ten rejected by a bank when asking to borrow money.

The unions are regulated by the Financial Conduct Authority and put money back into the community.

Put on prescription glasses to haggle It’s time to understand the art of haggling.

I know we aren’t used to haggling in this country and few automatically find it easy, but it is essential that you master the skill if you want to save money – whether you’re trying to get a deal on a kitchen or double-glazed windows from big firms.

Looking people in the eye is a trick you need to master when attempting to strike the best deal. 

If you find that hard, go to the pharmacy and buy yourself a cheap pair of spectacles for a few pounds where the prescription is a couple of grades too strong.

It will give you the confidence to look people in the eye because you are not properly focusing. Just putting on specs creates a barrier to give you confidence when you speak.

I know it sounds silly but it works if you put on the glasses the moment you start to haggle. I wear a pair when haggling and I’ve even found it helps when trying to negotiate when I’m on the phone!

Knock a fifth off a big-ticket item

Offering half of what’s on a price tag might be seen as an insult by the seller and do you more harm than good.

But if you start with a phone call and offer to pay an amount that is perhaps a fifth off a big-ticket item – so £4,000 for new carpets that are listed at £5,000 – this sounds about right.

You might have to compromise, but next go to see them in person and start with this better offer – haggling once again for a lower price. This way you get two chances at getting the best price.

Of course, it’s not going to work in the supermarket but it’s a great idea for shops where they offer discount sales, such as DIY stores and garden centres.

Don’t buy groceries Monday to Thursday

Budgeting for the weekly shop is a tricky business – but if you refuse to buy groceries between Monday and Thursday then is it possible to knock more than £100 off the shopping bill every month.

Do the big shop on a Friday – meat, vegetables and fruit – and enough milk and bread to get you through a whole week. 

You can still pop to the shops over the weekend for extras and luxuries, such as drinks, but once Monday comes around that’s it. You will just have to get by on what is left in the fridge and cupboards.

Take on the one penny challenge

As a couple you can save more than £10,000 over eight years to help fund a deposit for a house or other major purchases – just by taking the penny challenge.

The idea is to put a 1p coin into a jam jar on day one (start tomorrow if you like).

The next day make it 2p, the following day 3p and continue throwing in an extra penny each day until at the end of the year you are putting in £3.65.

In one year you will save £667.95 or £1,335.90 as a couple. 

Over five years you will both have put aside a total of £6,672.20. You’ll hit £10,672.60 after eight years and it’s a painless way of saving.

Master one-to-one small talk

Young people in particular are increasingly using the internet and smartphones to talk to each other – and this means they are losing the art of face-to-face communication. 

This also leads to them missing out on a golden chance to save money. Meeting someone in person with any financial transaction is always best. 

Be polite and courteous and try to understand there is a need for trust. So, if you fancy a jacket in Zara which you’ve seen online, you go into the store and ask the assistant to help you find it.

You might say you prefer to see items of clothing in person and how much you appreciate their help.

When they tell you it’s no longer available in your size, they have already warmed to you. As such, when you ask if there are any other jackets they think might work in your size and they pick out one you like, you’ve got a winning buy.

Get a second job you actually enjoy

There was no easy way for me to get wealthy.

I was not one of those people who had rich parents to help me out – nor did I go to a fancy public school where I could build connections from a network of wealthy friends that look after each other.

At one point I was holding down three jobs – doing up cars for next to nothing to sell at local garages, going to a market to sell T-shirts and at night being a DJ. 

It was not easy and there was little time for sleep, but that is how I began to earn the money needed to grow a business.

If you want to save, then earning more money is a great way to do this – and this is where a second job helps. 

There is nothing quite like good old-fashioned hard work if you want to succeed. Work in an area that interests you. Do you like cars? 

Ask if you can help at the local garage. Enjoy going to the pub? Enquire at the bar about a part-time job.

And don’t think this just applies to young people. As you wind down towards retirement you may want a second job to top up your pension.

What about doing a few hours’ paid gardening at the weekend if you’re stuck in an office all week? Charge £20 for three hours over 48 weeks of the year and you’ve made £2,880 and probably lowered your blood pressure to boot.

And if you’re retired already and want some extra cash, see what part-time jobs you can pick up.

Whether it’s in the local pub or cafe or helping out at a community centre, they will add pounds to your pocket and keep you active.

Harness the power of friendship

Never underestimate the importance of friendship.

You might start by popping into a butcher’s and seeing photos or postcards behind them on the wall. Why not ask about what these pictures are doing there and the history behind them? 

This is not about just trying to get the best deal but sharing being part of the same community. 

Maybe you can help them one day with something that you do or perhaps they might think of you – keeping that last leg of lamb aside for that Sunday roast.

Build trust with traders and it will save you money over time. You do not need to launch head-first into business. 

Try to talk about other matters first. What kind of day they are having, the weather, family – anything rather than why you are there. Then ask about the price.

If they become your friend, they will be more willing to help.

Talk to a loved one about any debt

The misery I’ve seen caused by people falling into debt is heart-breaking. I’ve seen people lose everything – jobs, families and even their lives.

I once met someone who had set fire to himself because he could see no way out. This should never be allowed to happen.

Unfortunately, banks rarely want to know and this forces many into the arms of loan sharks.

Anyone who feels their finances are on a downward spiral must share what is going on with loved ones at the earliest possible moment before it gets out of control.

The Bank of Dave is there to provide support but there are also charities that can also offer free help, such as Citizens Advice, StepChange and National Debtline.

Talking to someone face to face will make all the difference. Charities can deal with lenders on your behalf to come up with a budget plan for repayment. Once you take control of your money, you can pay off debts and start that savings plan.

• As told to Toby Walne