I was delighted to make my debut on Vogue.co.uk last week. It’s really encouraging that major fashion titles are now taking the subject of money seriously! I was quoted alongside three other excellent female financial voices – Simonne Gnessen, the founder of Wise Monkey Financial Coaching, Sarah Porretta, director of strategy and insight at the Money and Pensions Service and Helen Saxon, banking and insurance editor at Moneysavingexpert.com. Here is a taster of what we said in this excellent piece by Susan Devaney…
More money, more problems. It doesn’t really stack up, does it? The late (and great) Notorious B.I.G. apparently felt some pressure as he accumulated one mansion after another, but can it have rivalled that experienced by today’s millennials, for whom getting a foot on the property ladder can feel all but impossible?
While buying a house isn’t everything, having a thorough grasp of your spending habits is certainly a good place to start – and a new decade is a great opportunity to adopt a new monetary mindset generally. To get the ball rolling (and make opening a bank statement a little less daunting), British Vogue asked four female financial experts for tips to help you start saving, stop stressing, and develop a healthy relationship with money.
Why we should save more
“A great way to think about saving is that it offers three things: security, reward and choices,” Iona Bain, the founder of Young Money Blog, tells Vogue. “It’s safe in the bank and you should get a little reward in the form of interest, which compounds and adds to your balance. But most importantly, it gives you way more choices in the future. People who are weighed down in debt and short-term spending have limited options, but active savers can sleep at night, and live their lives knowing their money is safely tucked away for them to use when they really want or need it. It’s still your money, remember! Just put it to one side to help ‘future’ you.”