Bubele’s Let’s Talk Money virtual event series took place in April 2020. For those that could not make the last two talks here is a short recap of what went on:
1) Money mindset with Fanny Snaith, Money Coach
Fanny reminded us that the feelings we have about money during lockdown are magnifying what was there all along.
– Start to address your relationship with money by creating a money story – how were your parents with money, what are your beliefs around money?
– Use the money archetypes to identify your behaviours with money so that you can start to address them. Are you always doing work for free? Do you stymie investing in yourself for fear of overspending? Identifying our self-limiting behaviours are the first step to addressing them and changing habits.
2) Practical financial tips in lockdown with Lisa Caplan, financial planner and former head of financial advice, Nutmeg
– Lisa highlighted the importance of short-term liquidity (ie. cash). She reminded us that banks are expected to be kind with overdrafts and credit cards. Always have conversations with institutions/landlords as arrangements can often be found.
– You can save the money you will not be spending on going out.
– Do: look ahead and make sure there’s enough cash to eat and live. Don’t: look at your investments too often.
– Self-care for investors: don’t mourn paper losses, think long term, focus on what you can control
– Lisa listed the help available, furlough scheme, self-employed scheme etc. and answered many questions on who is able to access certain support. eg. those who claim universal credit can take a national insurance credit. Otherwise we should continue to contribute to national insurance.