One city, many voices

WOULD you say that you have a good relationship with money? Like many people, my relationship with money has not always been positive. I’ve taken out loans, had credit cards, overdrafts, etc. Fortunately, I turned my financial fortunes around and cleared all of my debt but for many this is not the case, which worryingly came to light when the pandemic hit in 2020.

When lockdown first happened I was self-employed. All of my work literally stopped overnight. For me that was a really big wake-up call. It was then that I decided that I was going to use that time to learn about money.

I watched a lot of YouTube videos and listened to lots of podcasts. I talked to a couple of friends about what they did in terms of investing their money. I tried (and I’m still trying) to learn as much as I can.

Based on my own experiences, here are some tips to help other people get to grip with their finances:

Keep a record of every single penny you spend.

Know how much is in every account (I check mine every single day)

Make time each week to check the health of your finances and make the necessary adjustments if you need to

Have a financial plan for a minimum period of six months

Have an emergency fund. This is a MUST - your future self will thank you one day

Safeguard your financial future, whether that’s through pensions, property, investing

Get a financial advisor – it’s a worthwhile investment to have someone in your corner who knows how the land lies financially.

Make sure you reward yourself. Don’t go crazy but don’t deny yourself treats either. The whole point of working hard is to live well and enjoy life.