But can the rest of us do something similar, especially those with mortgages and childcare costs?

Here are 10 ways that will, at the very least, go some of the way to ditching your debts and achieving financial freedom.

Overpay your mortgage

You could knock tens of thousands of euro off your mortgage and become mortgage-free much earlier than originally planned by overpaying it.

You can overpay your mortgage by paying a lump sum off it. This is known as a lump sum overpayment.

Alternatively, you can pay more each month. This is known as regular overpayments.

A useful way to work out how much money you could save and how many years you could shave off your mortgage term is to input some figures into the ‘Extra mortgage payment calculator’ on the website of the Competition and Consumer Protection Commission.

Suppose you have 25 years left on your mortgage. You have €180,000 left to pay over the next 25 years. If you overpay by €350 each month you could shave close to 10 years off the mortgage term, and save almost €26,000 in interest repayments. Now that is worth considering.

Bash your credit card debt away

One way to do this is to apply for a personal loan with a credit union.

Typical annual interest rates on a credit union loan are 9pc. Speak with your local credit union. Once you meet criteria and demonstrate your ability to repay any loan, it should be able to help and can work out a payment schedule that works for your budget, says Kevin Johnson, chief executive of the Credit Union Development Association (CUDA).

Ditch the brands

Pre-pandemic research found that the average household spends around €100 on food at home. Doubtless, this figure will have risen since.

Brands are the problem. If you buy supermarkets’ own labels they are often up to 50pc cheaper than premium labels and often you are not compromising on quality, says Paul Bailey of the Irish League of Credit Unions.

Look at your shopping list and see where you can trade down, he says. The league reckons the potential could be up to €1,000 over a year.

Avoid food waste

The average family could save €700 a year by taking simple steps to reduce their food waste, according to the Environmental Protection Agency. Vegetables, fruit and salad are the foods that are thrown out most often.

Top tips include storing potatoes in a dry, dark place; keeping tomatoes in the open air; storing carrots loose in the bottom drawer of the fridge; and keeping strawberries in the fridge with their green tops on.

Save on energy costs

Household energy bills are set to rise by up to €300 over the next couple of months.

We may have 11 suppliers competing for our custom in this market but almost all of them have raised their prices, with some announcing two rises.

Your best bet is to make sure you are not on a high tariff. Households should switch to a cheaper supplier to save money, especially with price rises being announced.

It is quick and easy to switch and can all be done online in minutes. Someone paying standard rates and who switches supplier could save well over €400 a year on average on their combined gas and electricity costs.

Switch motor insurance provider

When it comes to insurance loyalty is punished rather than being rewarded. That is why it is imperative that people don’t simply accept the renewal price given by their current insurer.

Pricing and quotes can vary wildly from person to person, and insurer to insurer, says Jonathan Hehir of brokerage Coverinaclick.ie. Either call all of the direct insurers for a quote or get a broker to get quotes from those insurers on your behalf. You can easily save €200 or more by getting better value cover.

Make simple energy-saving switches in the home

Turn off the lights when you are not using them, get in the habit of only using the heating when you actually need it. Only wash your clothes on full loads and turn appliances off rather than leave them on standby.

The Irish League of Credit Unions reckons you could shave €200 off your annual electricity bill by being more conscious of the electricity you are using.

Ease up on the takeaways

The lockdowns have shown us how much we spend on indulgences. Of course we need to treat ourselves now and again and support local businesses, but we also need to make sure we do not spend too much on the likes of takeaways.

Studies from before the pandemic show the average household spends a €90 a month on takeaways and fast food. Focusing more on dining in could yield significant savings over time. Some estimates indicate potential annual savings of €1,000 by cutting down on takeaways.

Draw up a budget

Every household should have some form of financial plan or budget in place. However, the form and or detail of this plan will change depending on the household.

So set a budget based on how often you get paid and stick to it. Don’t underestimate the power of a good budget, said Kevin Johnson of CUDA.

Stop paying money for stuff you don’t need

We are talking here about coffee, bottled water and lunches. There are cheaper alternatives to takeaway coffees and bought lunches. Throw into the mix gym membership that is not used. Cutting down here could save you over €600 a year.