One size doesn't fit all- 'The Money Files'

One size doesn’t fit all.

Introducing the Money friends money files

The other week I wrote a blog about car boot sales and my love of them. They are my go to when I need to declutter and earn some pennies but I appreciate they are not for everyone.

There are so many posts and things on the internet telling you what you should be doing; which side hustles (some posts say do them all) and how to budget with techniques such as a 50-30-20 or the 40-40-20, but the truth is nothing works for everyone and you have to find what feels right for you.

One of our clients for example said they would never fill in another survey online again as they found it so boring – I don’t mind a survey every now and then.

My advice is find out what works for you and just having money management on the mind is the start.

With this in mind we are going to launch the money files – each month we will ask people from various walks of life their tips. Some people will disagree with but I think that understanding what works for others or doesn’t can sometimes help us find our way.

So I am going to start:

Who am you? – 41 year old single mum of two girls (13 and 8). I have recently been very brave and left the big corporate world as a Commercial Finance director to set up two businesses both supporting and helping people.

What does money mean to you? -  I would say that I am not overly money motivated and have never been one to strive to the next pay bracket. I see money as a tool and an enabler. I like to think that if I can make it work for me it can give me some freedom.

What did your parents teach me about money?: - two things really – 1 to work hard and 2 – don’t get into debt. They are both linked in a way. I have always worked hard and I worked hard for what I really wanted. Having said that recently I have come to learn that you can work too hard, as I was unhappy in my job and trying to work myself out of it. I am happier now and working less – but also earning less. But I am happier and more in control

What is your greatest money tip for anyone? – have a plan and know your numbers. I don’t like the word budget as I think people think that is a complicated thing. I would start with just knowing two numbers which anyone can start with. Know your income and know your expenditure – from there you can expand.

What would you try and teach the younger generation? – you don’t need to have everything straight away. So prioritise and understand the value of things. Also go your own way and dare to be different.

I think it is really sad that we live in a have it now culture. I think if some money management was taught in schools I would like to think that maybe this would change – but you never know. Peer pressure seems to be huge.

What is your little luxury that you spend money on? – well I love a book shop and a brand new book. They are my weakness – I probably have two years worth of books to read before I buy another one. My big weakness is holidays – I love to travel. These don’t have to be expensive and I also budget and shop around.

What would you say to the government at the moment? – selfishly don’t take away the single person discount of council tax!!!! But the main one is to campaign for more financial education in schools.

I hope you enjoyed this – this will be put on Instagram monthly and I hope even if you get one nugget out of it then its worth it. I love finding out how other people do things but maybe that is because I am a nosey cow!!!

Thanks

Laura and Nicola x