Shows
Money ConfidenceMoney Confidence - How To Stop OverspendingOn this final episode of Season 1, Sarah and Georgia discuss why we overspend and how we can stop overspending and get out of cycles of debt.KEY TAKEAWAYSGeorgia passed her STEP exam in trusts and estates. An amazing achievement!Money is emotive. We tend to overspend when we are in an emotional state such as stressed, sad, lonely or even happy. Spending often helps us feel good about ourselves, even if it’s just in that moment. Many of us relate our self-worth to our net-worth. We need to sep...2022-12-3128 minMoney ConfidenceMoney Confidence - Timeless AdviceOn this episode Sarah shares some timeless advice from some notes she had written after reading some self-help books when she had finished University in her 20s.KEY TAKEAWAYSFear will never go away as long as you continue to grow. Over 90% of what we worry about never happens. We create our own reality.The beginning is the most important part of the work.Believe it can be done. Never give up. Help each other.Think for yourself.Never look back. You can't change t...2022-12-2119 minMoney ConfidenceMoney Confidence - 20 Tips To Improve Your Financial WellbeingOn this episode Sarah and Georgia discuss 20 things to think about when is comes to money and your wellbeing.KEY TAKEAWAYSStop thinking about money in terms of material things it can buy. Start thinking about the freedom and independence it can give you. The best thing money can buy is time and freedom. Freedom to live life on your terms, freedom from financial stress and freedom to do what you want and work for who you want.Money is a tool and not a goal in itself. Qu...2022-12-1427 minMoney ConfidenceMoney Confidence - 5 Questions To Ask Yourself About MoneyOn this episode Sarah talks about 5 questions you should ask yourself about money.KEY TAKEAWAYSBeliefs are assumptions we make about the world and are often developed early in life and passed down subconsciously through the generations. In early childhood you take everything as fact so your beliefs are based on how you perceive things and may not be logical.What are your core beliefs around money? We never really think about these beliefs or question them but when we do we learn a lot about ourselves and our behaviours...2022-12-0709 minMoney ConfidenceMoney Confidence - 9 Core Beliefs That Are Holding You BackOn this episode Sarah and Georgia talk about 9 common core beliefs around money that may be holding you back.KEY TAKEAWAYSWe all have our own individual relationship with money. Our own experiences, influences and environments have shaped our perception of money. Think about your early memories and experiences around money and the beliefs you attach to these.When we start to think about what we heard about money growing up, we start to realise why we think a certain way about money. We attach our own perceptions...2022-11-3019 minMoney ConfidenceMoney Confidence - How Not To Miss Out On Thousands Of Pounds Of Pension IncomeOn this episode Sarah and Georgia talk about how you can avoid missing out on thousands of pounds of pension income.KEY TAKEAWAYSIf you are a grandparent caring for grandchildren, you could qualify for National Insurance credits which can top up your income in retirement.An estimated 4 in 10 grandparents in the UK provide childcare for their grandchildren and many don't know about this perk which could add thousands to their State Pension over time.More and more grandparents will be entitled to the Specified Adult Childcare credits as the...2022-11-2416 minMoney ConfidenceMoney Confidence - How Much Pocket Money Should I Give My Child?On this episode Sarah and Georgia talk about how much pocket money you should give your child.KEY TAKEAWAYSThere's no right answer here, and it depends on how much you can afford and what you think is reasonable. There have been numerous surveys conducted which give a rough idea of how much parents are giving their children.A survey of NatWest Rooster Money users found that the average weekly pocket money in the UK was £6.14, with £3.21 a week for 4 year olds, increasing to £11.64 a week for 14 year olds.Research fro...2022-11-1719 minMoney ConfidenceMoney Confidence - 7 Ways To Increase Your Credit ScoreOn this episode Sarah and Georgia talk about what a credit score is, who the main credit reference agencies are in the UK, why your credit score is important and 7 ways to boost your credit rating. KEY TAKEAWAYSThere are three UK credit reporting agencies in the UK.Your credit score is a score which is calculated by credit reporting agencies and is meant to reflect how likely you are to repay credit on time.Credit scores are used by potential creditors and lenders to help them decide whether to...2022-11-0215 minMoney ConfidenceMoney Confidence - All About Pensions - REPEATDue to personal circumstances, we were unable to record this week's episode of the Money Confidence podcast. Here is a repeat of our most popular episode to date. KEY TAKEAWAYSA pension is one of the most tax-efficient ways to save for your retirement, but it can't usually be accessed before age 55. This will increase to age 57 in 2028.When you contribute to a pension, the government will give you tax relief on those contributions. If you make a contribution into your pension from your net pay (after tax and National Insurance has...2022-10-2615 minMoney ConfidenceMoney Confidence - 3 Main Ways To Pay Off DebtOn this episode Sarah and Georgia firstly discuss the breaking news and then they talk about the 3 main ways to pay off debt. Georgia then gives her tips for staying warm without having to turn your heating on.KEY TAKEAWAYSThere are 3 common methods for paying off debt: debt consolidation, the snowball strategy and the avalanche strategy.To start with, write down the different debts you have, the amounts that you owe and the interest rates on those debts.In brief, debt consolidation is where you combine several small debts...2022-10-1926 minMoney ConfidenceMoney Confidence - 5 Ways To Make Better Financial DecisionsGeorgia's back! On this episode Sarah and Georgia firstly discuss the Mini-Budget although most of what Georgia said was not family friendly so had to be cut out. They then discuss 5 ways to make better financial decisions.KEY TAKEAWAYSA study by the IFS found that households in every income distribution will on average lose more money from the freezes to the allowances, thresholds and benefits over the next 3 years, than they will gain from the tax-cuts announced in the Mini-Budget.Half a million more families will lose some or all of...2022-10-1218 minMoney ConfidenceMoney Confidence - The Mini-Budget And The Falling PoundOn this episode of the Money Confidence podcast, I talk about the Mini-Budget, what it means for you, why the pound is falling and how a falling pound may affect you.KEY TAKEAWAYSOn Friday 23rd September the Chancellor (Kwasi Kwarteng) delivered his Mini-Budget, which sent the pound falling to a record low against the dollar.I summarise the main tax cuts announced in the Mini-Budget as well as the potential tax savings.On Monday 26th September the pound fell to it's lowest level against the dollar of $1.03. This was...2022-10-0514 minMoney ConfidenceMoney Confidence - My Story Part 1On this episode of the Money Confidence podcast, it's just me, Sarah! Georgia is away for 2 weeks and last week I wasn't feeling too well. This week I'm sharing the first part of my story. I've never shared this before but I hope it helps others who may resonate with how I was feeling back then.KEY TAKEAWAYSListen to the episode to find out my story of what happened 7 years ago.It's OK not to know what you’re doing or to do things differently. There’s no shame or judg...2022-09-2812 minMoney ConfidenceMoney Confidence - 5 Ways To Help Save For ChristmasOn this episode of the Money Confidence podcast, Sarah and Georgia talk about 5 ways to help save for Christmas.KEY TAKEAWAYSChristmas can be a time of worry for a lot of people and studies have shown that 53% of people feel financially stressed when it comes to Christmas. Georgia's cat, Rex, joins us on this episode.Now you've decided to start saving for Christmas, let's take the first step and set up a savings account and label it your 'Christmas pot'. Make a list of of everyone you...2022-09-2124 minMoney ConfidenceMoney Confidence - How To Reduce Financial StressOn this episode of the Money Confidence podcast, Sarah and Georgia talk about how to reduce financial stress.KEY TAKEAWAYSIf you're worried about money then you're not alone. Money is a common source of stress for adults and Sarah and Georgia have both experienced this.Being on top of your finances can help you feel less stressed and less overwhelmed with the situation.The first thing you can do is to identify why you are feeling stressed or worried and to write these down.Look at the...2022-09-1417 minMoney ConfidenceMoney Confidence - 5 Ways To Reduce Your ExpenditureOn this episode of the Money Confidence podcast, Sarah and Georgia talk about ways you can reduce your expenditure.KEY TAKEAWAYSThere are lots of ways to reduce your expenditure and all the little cut backs you can make will really add up over the longer term.Review your direct debits and subscriptions and look at those you don't need.Shop around for cheaper deals. There's some good comparison sites that can help you with this.Look for offers, discounts and vouchers so you don't have to pay...2022-09-0724 minMoney ConfidenceMoney Confidence - 4 Ways Rising Interest Rates May Affect YouOn this episode of the Money Confidence podcast, Sarah and Georgia discuss how the rising interest rates may affect you.KEY TAKEAWAYSIncreasing interest rates is one way to try and control inflation as it raises borrowing costs and should encourage people to borrow and spend less. It can also encourage people to save more.However, many households will be squeezed further following the interest rate rise including some mortgage-holders.The Bank of England has warned the UK will fall into recession as it raised interest rates by the most...2022-08-3118 minMoney ConfidenceMoney Confidence - Four Tips For Managing Your Investments During Worrying TimesOn this episode of the Money Confidence podcast, Sarah shares her top tips for managing your investments during turbulent times.KEY TAKEAWAYSResist the urge to keep checking your investment portfolio every 10 minutes. You will see your investments rise and fall. If you're not used to seeing your investments fall then you may panic.Checking your investments all the time reinforces your worries. Just check it every month or every few months instead.Stick to your long term strategy and basic investment principles.Don't make decisions based on...2022-08-2412 minMoney ConfidenceMoney Confidence - What Is A Recession And What Does It Mean For You?On this episode of the Money Confidence podcast, Sarah and Georgia talk about what a recession is, how long a recession usually lasts and what it means for you.KEY TAKEAWAYSA recession is a significant, widespread and prolonged downturn in economic activity. There are different definitions of recession.Economists define a recession as an economic contraction starting at the peak of the expansion that preceded it and ending at the low point of the ensuing downturn.A recession is caused by different factors. Causes have included oil price shocks...2022-08-1718 minMoney ConfidenceMoney Confidence - Financial CoachingOn this episode of the Money Confidence podcast, Georgia asks Sarah questions about Financial Coaching.KEY TAKEAWAYSSarah trained as a Financial Coach on the course run by Catherine Morgan and is now certified.Financial Coaching is about helping you make better financial decisions where you facilitate the change.You can find Certified Financial Coaches on VouchedFor, which is a bit like Trustpilot. All reviews are independently verified.Financial advice is about looking at your financial objectives and circumstances and coming up with recommendations and solutions. However, coaching...2022-08-1017 minMoney ConfidenceMoney Confidence - The Different Roles In A Financial Advisory TeamOn this episode of the Money Confidence podcast, Sarah and Georgia first reveal the answer to the big question George asked last week. They then talk about the average day of an administrator, paraplanner and financial adviser.KEY TAKEAWAYSAdministrators are an integral role of the team and it's a good place to start in financial advice. You learn about the different platforms, systems and providers and start to learn technical knowledge used in financial advice.Paraplanning differs a lot between different companies but it can involve researching solutions, report writing and...2022-08-0324 minMoney ConfidenceMoney Confidence - Featuring George, Our Special GuestOn this episode of the Money Confidence podcast, Sarah and Georgia have their first ever guest - George. George doesn't work in financial services and thinks he is rubbish with money. He asks Georgia and Sarah some questions about finances that he's thought of.KEY TAKEAWAYSGeorge thinks he can never have enough money.There's lots of reasons you should get financial advice and it's not necessarily for rich people. Financial advice covers lots of different things such as mortgages, protection, investing and planning for your retirement.Financial advisers need...2022-07-2737 minMoney ConfidenceMoney Confidence - What To Expect From The Financial Advice ProcessOn this episode of the Money Confidence podcast, Sarah and Georgia talk about what you can expect from the financial advice process.KEY TAKEAWAYSAt the first meeting the adviser will carry out a fact find, which means that they will gather information on you, so that they can give you appropriate advice.The more accurate information you can provide them with, the better advice they can give.You will be asked questions such as what investments you have, what cash savings you have, your income and expenditure. It can...2022-07-2015 minMoney ConfidenceMoney Confidence - How To Find A Financial AdviserOn this episode of the Money Confidence podcast, Sarah and Georgia first talk about what money means to Georgia but then it gets a bit deep so they decide to talk about how to find a financial adviser and what questions to ask them.KEY TAKEAWAYSStart now, perfect later.Unbiased and VouchedFor are places you can find advisers.Independent advisers can advise from the whole of the market whereas tied advisers can only recommend certain products or product providers.Not every adviser is on VouchedFor or Unbiased...2022-07-1327 minMoney ConfidenceMoney Confidence - Jargon BustingOn this episode of the Money Confidence podcast, Sarah and Georgia bust some jargon that is used in financial services.KEY TAKEAWAYSISA stands for Individual Savings Account.AMC stands for Annual Management Charge.JISA stands for Junior Individual Savings Account.UFPLS stands for Uncrystallised Funds Pension Lump Sum. It's a ways to take funds from a money purchase pension as a lump sum (or series of lump sums).DFM stands for Discretionary Fund Manager.NEST stands for National Employment Savings Trust....2022-07-0619 minMoney ConfidenceMoney Confidence - Child BenefitOn this episode of the Money Confidence podcast, Sarah and Georgia talk about Child Benefit.KEY TAKEAWAYSChild Benefit is a benefit for people who have children. You can claim for each child under 16 or under 20 if they are in approved full-time education or training.This tax year, which is 2022/23, your eldest or only child will get £21.80 a week and all subsequent children will get £14.45 a week.If you or your partner earn over £50,000 a year then you may be subject to he high income Child Benefit tax charge. The amo...2022-06-2917 minMoney ConfidenceMoney Confidence - Ways You Can Pay Less Inheritance TaxOn this episode of the Money Confidence podcast, Sarah and Georgia talk about the different ways to reduce your potential Inheritance Tax (IHT) bill.KEY TAKEAWAYSOne way to potentially reduce your IHT bill is to make gifts while you're still alive. Every tax year you have a £3,000 gifting exemption which you can only carry forward one year if you don't use it.You can also make as many small gifts of up to £250 per individual per tax year, as long as you haven't used another exemption on the same person. So yo...2022-06-2218 minMoney ConfidenceMoney Confidence - The Story of Sarah and GeorgiaOn this episode of the Money Confidence podcast Sarah and Georgia were going to talk about ways to reduce your Inheritance Tax bill but as it's their launch day, they are talking about how they met and how the podcast began. KEY TAKEAWAYSIt's Wednesday the 18th of May 2022 and the podcast is launching at midnight tonight.We reveal the answer to the big question we left you with on our last episode.Georgia got a job while taking a year off from University and has been in financial s...2022-06-1524 minMoney ConfidenceMoney Confidence - Inheritance TaxOn this episode of the Money Confidence podcast, Sarah and Georgia answer the cliff-hanger question from last week’s episode before getting onto the main topic of the episode: IHT, or Inheritance Tax.KEY TAKEAWAYSInheritance Tax is a tax that is paid by your estate or your executors upon your death. It’s paid on your estate value above the tax-free threshold(s), which is the total amount of your assets minus your liabilities.Everybody has an Inheritance Tax Nil Rate Band which is £325,000 for the current tax year, which is a tax...2022-06-0812 minMoney ConfidenceMoney Confidence - 10 Questions On PensionsOn this episode Sarah and Georgia answer 10 common questions on pensions.KEY TAKEAWAYSA nomination of beneficiary in relation to a pension is where you want your pension to go upon your death, also known as an expression of wish. Make sure that you’ve nominated someone or a charity or organisation to receive your benefits upon your death.You can access your pension any time from the age of 55 for a defined contribution or a money purchase pension. This is increasing to age 57 from 2028. If you leave your employer the...2022-06-0121 minMoney ConfidenceMoney Confidence – PensionsOn this episode of the Money Confidence podcast, Sarah and Georgia talk about pensions.KEY TAKEAWAYSA pension is one of the most tax-efficient ways to save for your retirement, but it can't usually be accessed before age 55. This will increase to age 57 in 2028.When you contribute to a pension, the government will give you tax relief on those contributions. If you make a contribution into your pension from your net pay (after tax and National Insurance has been deducted), basic rate tax relief (20%) will be automatically added to your pension at...2022-05-2515 minMoney ConfidenceMoney Confidence – TaxOn this episode of the Money Confidence podcast, Sarah and Georgia talk about tax.… don't switch off! They make it interesting… or, as interesting as it can be! KEY TAKEAWAYSThere are many kinds of taxes. Most people know about Income Tax – the tax on your wages. The Personal Allowance is how much income you can receive that is tax free – this tax year (2022/23) it's £12,570, although this can change depending on disabilities or how much you earn.If your adjusted net income is £125,140 or more, your Personal Allowance is zero. In order to br...2022-05-1815 minMoney ConfidenceMoney Confidence – Lifetime ISAsOn this episode of the Money Confidence podcast, Sarah and Georgia talk about LISAs (Lifetime Individual Savings Accounts) which are a tax free way of saving money towards retirement or purchasing your first home. KEY TAKEAWAYSA LISA has to have been open for a year before you can use the funds towards the purchase of your first home. If you're thinking a LISA is for you and don't have the funds yet then it may be a good idea to open one up and put a pound in to start the clock.2022-05-1812 minMoney ConfidenceMoney Confidence – ISAsOn this episode of the Money Confidence podcast, Sarah and Georgia talk about ISAs (Individual Savings Accounts) which are tax free ways of saving money. KEY TAKEAWAYSThere are different types of ISAs: Cash ISAs and Stocks and Shares ISAs are the most common, and the ones we're talking about on this episode, but there are also Lifetime ISAs, which we'll talk about on another episode as well as Innovative Finance ISAs, which uses peer to peer lending and isn't covered by the Financial Compensation Scheme, so we're not going to talk about t...2022-05-1812 minMoney ConfidenceMoney Confidence – Saving StepsOn this episode of the Money Confidence podcast, Sarah and Georgia talk about how to start saving by building up habits to reach your financial goals. KEY TAKEAWAYSJust looking at your bank account is so important. It's so common that people get to the last week of the month and have £50 left and they panic and wonder how they could have spent that much money. If you write it all down and divide it up into categories (for example, essential expenditure (mortgage and bills), and discretionary expenditure (clothes, takeaway food and alcohol) yo...2022-05-1813 minMoney ConfidenceMoney Confidence – SavingWelcome to the Money Confidence podcast where your hosts Sarah and Georgia aim to educate you about money in a fun, simple way, to increase your confidence with money and the decisions you make around money. On this episode Sarah and Georgia talk about the basics of saving, and how you can start building habits. KEY TAKEAWAYSThere's not a lot of financial education in schools and as a result a lot of people are unsure about their finances and finances can be viewed as complicated and scary.You could split y...2022-05-1813 minMoney ConfidenceWelcome to the Money Confidence PodcastPODCAST DESCRIPTIONJoin us, Sarah and Georgia, as we help you master your finances and money mindset so that you feel more confident with money and the decisions you make around money. We talk all things money from investments, pensions and benefits to your mindset around money and steps we can take to improve your relationship with money. We aim to make it fun, educational and are with you every step of the way. Together, we've got this! ABOUT THE HOSTSSarah is a Chartered Financial Adviser and Certified Financial Coach a...2022-05-0900 min