Tara from @allourbestintentions joined me on this podcast episode to discuss SIPPs.
A SIPP, or Self Invested Personal Pension, is one option available for us in the UK to invest for the long-term. These differ to Workplace Pensions (which is what I currently have), so we first started by talking about the difference between the two.
Tara then talked us through how the pension tax relief works, as well as the basics of what SIPPs are and who they are for.
We also discussed the various SIPP...
Anna from @pandabossanna joined me on this episode to talk about passive income streams and side hustles.
Building up passive income streams, whether that's through investing or a side hustle, is a goal that many people have so that they can be 'free' from working a 9-5 job.
We started off the podcast by defining passive income and how it compares to active income. Anna and I also touched on the reality of building passive income streams in that they require a lot of upfront work by us...
Laura joins me on the podcast to discuss how she saved £15,000 and then £25,000, before taking the plunge to making her first investment in 2020.
Many people are in a similar position where they are able to save money but struggle to get started investing, whether that's out of fear or out of procrastination, or a bit of both.
In this episode we talk through Laura's journey of how she managed to save huge sums of money even on a relatively low salary. We then discuss how she started to...
Timi from @mrmoneyjar becomes the first person to make his second appearance on The Making Money Simple Podcast to discuss all things index funds.
Timi starts us off with the basics and breaks down exactly what index funds are, before we move onto discussing the pros and cons of using index funds when investing. Ultimately, index funds 'track the market' and are low cost in comparison to active funds that try to 'beat the market' and are higher fee. Aside from this pro, other pros include...
Mr Avo joined me on this episode of The Making Money Simple Podcast to discuss money discipline.
The conversation was free flowing and we discussed a range of topics, from opportunity cost, to instant vs delayed gratification, to lifestyle inflation, to how to set yourself up for success on payday.
In particular, we talked about frugality and how it is important to strike a disciplined balance. Whilst having an avocado toast on the weekend won't be too detrimental to your wealth building...
In this 15 minute episode I break down everything you need to know about ISAs. ISAs are the best way to grow your money as all of the gains are tax-free!
The things covered in this episode include:
- The basics - what are ISAs, how they work, the £20k annual allowance and how this works
- 4 types of ISA - Cash, Innovative, Stocks & Shares, Lifetime
- I look at S&S ISAs and Lifetime ISAs in more detail, including the different approaches to S&S ISAs and which Lifetime ISA is...
Oli joined me on this podcast episode to draw comparisons between the UK and Australian financial systems.
I asked Oli a range of questions from taxes to investing to property, to see how the financial system works in practice in Australia.
First, we discussed the tax efficient account that you can use in Australia - the superannuation - and then drew comparisons to how this is similar to what we have in the UK in pensions and ISA's.
We then moved on to discuss the tax system in Australia,...
Katie from @thepennymix and I discussed all things income protection in this podcast episode.
This is a product that I had absolutely no knowledge on, so I spent twenty minutes firing questions at Katie!
If you also have no knowledge of income protection then this podcast episode is the perfect beginners guide.
Firstly, we discussed what income protection actually is. I mistakenly assumed that it was only necessary for older people, however Katie made it clear that income protection is...
Brennan from @budgetdog and I discussed all things debt in this podcast episode.
We first talked about how Brennan paid off $76k of debt in a single year by being 'intentional'.
We then moved onto talking about debt payoff strategies. The two main strategies being the snowball method and the avalanche method. We agreed that for the majority of people the snowball method is the way to go due to the positive psychology effects of paying off debt.
We then talked about how to have to right...
The start of the year is the perfect time to look at your personal finances.
In this short episode I will give you four tips on how you can do this.
These four tips are:
- Set goals
- Open your banking apps
- Track your net worth
- Automate your finances
I delve into each tip in more detail in the podcast.
Ato from @savvywallet and I discuss getting on the property ladder as a first time buyer
We talked about the two key elements - the mortgage and the deposit.
For both the mortgage and the deposit the best thing you can do is to increase your income. This means you can get a larger mortgage and also save quicker for the deposit. Throughout the podcast we also share other tips such as budgeting and buying your first house with someone else.
We also go through the Help To Buy ISA and Lifetime...
Ola from @allthingmoney_ and I discuss all things budgeting (see what I did there?).
Ola shared two of her top budgeting tips and I shared two reasons why we all need to have a budget.
Ola's tips included taking physical cash out when she was a student to know how much she was spending, as well as using a budgeting app.
My main reasons for budgeting where that through budgeting we are able to achieve our financial goals, as well as being able to understand exactly where our money is going...
Timi from @mrmoneyjar and I discuss the lessons we've learnt from the goat himself, Warren Buffett.
If you've been living under a rock and don't know who Warren Buffett is, he is the founder and CEO of Berkshire Hathaway and one of the richest people on the planet. He is arguably the most famous (and one of the most successful) investors in history.
In this podcast episode Timi gives three non-financial lessons he's learnt from Buffett, and I give three financial lessons.
David from @thepfcoach and I go head-to-head to discuss all things relating to credit card.
We first discuss our personal views on credit cards - David isn't a fan and no longer uses credit cards, whereas I am a big fan of credit cards.
After pitching our respective views, David and I go on to discuss the main benefits of credit cards, main drawbacks, whether understanding credit cards are key to becoming financially educated (spoiler: we both say yes), then finishing up on when you should...
Firstly, thank you for tuning in and welcome to Episode #1 of The Making Money Simple Podcast!
This podcast will provide bitesize 20 minutes episodes on all things money and financial education.
Over the coming weeks and months you can expect episodes:
- Credit Cards
To name a few of the key topics this podcast will focus on.
#1 - Why You Need Financial Education
What Is Financial Education?
Financial education is...