On 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 TAKEAWAYS

George 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 at least the level 4 diploma and they can also become Chartered which is the level 6 qualification.

You can put £20,000 a year into an ISA, across the different types of ISAs and they grow tax-free.

We tend to say invest for at least 5 years in a Stocks and Shares ISA. Markets go up and down and past performance is not a guide to future performance.

Salary sacrifice is when the pension payment is made from your gross pay so you also save on National Insurance.

The UK inflation rate at the moment is 9.1%. It was 2.1% last year.

An easy way to measure inflation is to compare prices today with prices in the past.

BEST MOMENTS

'George thinks he can never have enough money.'

'Next year is going to be a saving year.'

'This is my 15 minutes of fame.'

'How much you need to save into your pension very much depends on your individual circumstances. It depends on how much you are likely to spend in retirement. It can be good to do cashflow modelling.'

'Automatic enrolment and salary sacrifice are not the same thing. Automatic enrolment is when your employer automatically enrols you into a pension scheme, which is normally after your probation period.'

'My children have entered the room. I never know where they are because they're crawling in. They're crawling into the room.'

'I remember when a chomp was 10p.'

'Wilkinson rebranded to Wilko in 2012.'

'The price of fuel at the moment is crazy.'

ABOUT THE HOSTS

Sarah is a Chartered Financial Adviser and Certified Financial Coach and Georgia is a Senior Paraplanner. Together, they have over 20 years experience in financial services and are on a mission to educate others about money in a fun and non-jargon way. They will help you master your finances and money mindset so that you feel more confident with money and the decisions you make around money. They talk all things money from investments, pensions and benefits to your mindset around money and steps you can take to improve your relationship with money. They aim to make it fun, educational and are with you every step of the way. Together, you've got this!

The information given in this podcast is for your entertainment and should not be construed as financial advice. No liability can be accepted for any individuals relying on this information without seeking specific advice and guidance. As always, take independent financial advice before making any investment decisions. Our discussions are based on tax and legislation in England which may change.

CONTACT METHOD

E: [email protected]

W: https://www.thegoodmoneycoach.com

IG: https://www.instagram.com/sarah_talks_money/ 

LI: https://www.linkedin.com/in/sarah-blyth-chartered-financial-planner-and-coach/ 

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