Tag Archive: personal finance


November 2011 marked a one year anniversary of my first steps into the investing world. In my final two years at university I copiously researched investing (risk tolerance, where to invest effectively for tax purposes etc) and finally decided to take the plunge three months into my first job out of university. November 2011 has also marked some important steps in progressing my finances. As I’ve mentioned in previous articles – personal finance management does not stop. You must continue to stay on top of your situation and ensure your money is making money for you whilst you sleep. Complacency and personal finance should never be said in the same sentence.

What are the three steps I’ve taken this month?

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The Money Diaries @ I Will Teach You To Be Rich: Based on New York Magazine’s Sex Diaries. A collection of stories from real people about their spending habits over seven days, anonymized and posted here.

When renting is smarter than buying @ Get Rich Slowly: This a topic that many people feel strongly about. Myths such as ‘you’re throwing money away’ tend to transpire when the discussion gets underway. Sometimes it can make more sense to rent.

Extreme Early Retirement in Practice @ Get Rich Slowly: I’m always keen for young people and graduates especially to take their pension and retirement seriously. If you’re not contributing to your pension yet when do you expect to start? This article will help to put things into perspective.

Why We Save @ The Simple Dollar: The simplicity of everything we do. Trent’s 5 year old is saving for a Nintendo DS. If a 5 year old can save surely anyone can?

I have a diverse group of friends. What I love about having a diverse group is that I get to discuss a variety of topics and we have some great debates. One topic that comes up frequently in conversation is Money. This is a topic that I naturally enjoy discussing because it’s a hot topic but let’s not forget that it is still a table topic taboo in British culture. We’re all feeling the squeeze with inflation rising to 5%, pay freezes and the dream of buying a house becoming ever more distant. View full article »

Week 4 brings you level 4 of Personal Finance: The Advanced Level. The person who has moved into the Advanced Level has moved to the upper half of the Personal Finance scale and is close to reaching a state where minimal effort is needed. If you have reached this level this will be demonstrated by a healthy emergency fund (3-6 months living expenses dependent on circumstances), you have a long term savings plan and you’ve started to familiarise yourself with financial jargon. Most of this will come from preliminary research into investing in stocks and shares. View full article »

This is part II of the Levels of Finance which discusses the steps that I took to get to where I am today. Last week I wrote about the realisation and the start of researching into better money habits. The Learner builds on what they’ve learnt as a Fresher from their initial research. View full article »

Over the past few weeks I’ve been reflecting on my journey through personal finance. It started when I googled “save money” back in 2003 when I was 15. Since then a lot of things have changed. My mindset is geared towards maximising the income I receive from my savings and I’m keen as always to find a good deal.  View full article »

Saving money needs a new image

How is it that flash cars, clothes and houses have got a favourable image? They are symbols of money, status and power but they can’t always have been associated in this way. What is the most powerful industry in controlling consumer’s habits? Advertising.

Over the past few weeks, I’ve become more aware of my surroundings on my commute. First, as I wait at the station there are a number of billboards for me viewing, then on the actual commute there are plenty of adverts on the walls of the train and then finally going through Waterloo station it’s advertisement central. I’ve seen Iggy Pop and his “saving time is saving money” car insurance adverts around 1000 times since I started working (7 months ago). His image and the purple background of the advert is practically burned into my memory. I’m convinced that investing in Henderson/Jupiter/[insert investment bank here] will give me ridiculous returns on my money without forgetting that the small print (which is actually quite big on billboards) states that I could lose the total amount that I invest.

I hate looking at these adverts because I feel as though they busy my brain. Whilst I’m trying to arrive at work refreshed I feel bogged down by these everyday adverts which offer me no real applicable advice. So why do they stick with me? This may be stating the obvious but advertising is designed to make you feel you need something when you might not. On occasion I’m reminded by a Sainsbury’s advert that I need to pick up milk after work but that really is ON occasion.  They’re also extremely powerful because I see them everyday, five days a week if not more. Over time they become burned into my memory like Iggy Pop’s car insurance.

I’m keen to combat this control over consumers that advertising companies possess. I want to use this technique to communicate the opposite message: Saving Money is Cool. It’s a simple message but if there was enough money pumped in by the government or companies keen to do their bit as Corporate Social Responsibility then I have no doubt that people will be left with the image of their own gold pot and the message that saving now is cooler than spending now. If it took off I truly believe that we would have a nation who were more financially responsible.

After a few weeks of searching the internet for money-saving tips you are more than likely to come across the phrase “automate” your finances. What does this mean though? Automating finances is just what it says on the tin. By setting up direct debits from your current account you take out the ‘you’ from the occasions and let the banks do the work. You might set-up a direct debit for bills, a standing-order for rent but you can also use it to save before you’ve even touched your pay packet. View full article »

Working Girls

Currently, BBC Three is coming to the end of a four-part series called Working Girls. The show follows two unemployed women who spend a week of work experience with a top businesswoman in the UK. The idea is to encourage these women to become independent and come off of benefits or to stop relying on sources of income that they have not earned themselves. View full article »

My dream home

I’ve lived in rented accommodation for just over 4 years now. I moved to London when I was 18 and fresh out of sixth form. I went to UCL for four years, graduated in September 2010 and have been working in London since the end of August 2010. View full article »

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