What are some of the things that we are most afraid of or most dread when it comes to money? What is lifestyle creep? How to plan for your finances in 2024?

In this episode of The Wallet, I interview Laura Newman, Head of NatWest’s Specialist Client Advice and Investment Services. We discuss the financial challenges and opportunities for 2024, such as inflation, interest rates, lifestyle creep, and wealth management. Laura shares her insights and tips on planning, overcoming obstacles, and growing wealth.

Are you familiar with the name Jordan Belfort? If not, you might recognise him as the infamous 'Wolf of Wall Street'. Belfort's journey in the financial world is nothing short of exhilarating — starting from his humble beginnings as a door-to-door salesman to becoming the mastermind behind Stratton Oakmont, a fraudulent brokerage firm that swindled millions from unsuspecting investors.

Talking about money is often awkward in relationships, and one big decision for couples can be whether and how to combine their finances. Some couples prefer to keep their money separate, while others opt for a joint account or a combination of both. There is no right or wrong way to manage your finances as a couple, as long as you are both comfortable and transparent with each other.

Money is often considered a taboo topic among friends, but it doesn’t have to be. Talking about money with your friends can help you learn from each other, support each other, and achieve your financial goals together.

Keith Gill, aka RoaringKitty and DeepFuckingValue, was a financial analyst and online trader who challenged Wall Street with GameStop, a retailer on the verge of bankruptcy. He shared his trades on Reddit, attracting a crowd of followers who bought GameStop shares, driving up the price and hurting hedge funds that had shorted the stock.

At our event in Hove, women gathered to explore the world of financial planning, both personally and for their businesses. The resounding message was clear: financial planning is the key to unlocking financial independence and security.

Overpaying your mortgage can be a good financial decision depending on your individual circumstances. Mortgage overpayments are at a 20-year high in the UK, as a result of interest rate hikes. While the prospect of reducing interest payments and achieving homeownership freedom is appealing, it's crucial to strike a balance between long-term financial goals and immediate financial needs. In this guide, we explore key questions to ask yourself before deciding to overpay your mortgage, addressing everything from the terms of your current mortgage deal to the size of your emergency fund.

In this episode, I speak to Martha Lane Fox, the co-founder of lastminute.com, Europe’s biggest travel and leisure website. She started the company in 1998 with Brent Hoberman, and sold it in 2005 for a whopping £577 million when she was only 31.

Today, we’ll be looking at Patrick Foster’s story. Patrick had a promising career as a professional cricketer, until gambling came into the picture. In this podcast, he shares his journey from being a sports star to a compulsive gambler who ended up in £250,000 of debt, revealing how he got hooked on betting, lost his job and his friends, and how he tried to escape his addiction by moving to a different city and becoming a teacher.

We’re used to hearing about stocks, credit or commodities being at the centre of bubbles, but never a flower. Today, we’ll be looking at tulip mania - a period in the 1630s when the prices of tulip bulbs in the Netherlands soared to unprecedented levels, driven by a speculative frenzy. I’ll be talking to Anne Goldgar, an American historian and academic, who argues that tulip mania was not a widespread frenzy that affected the whole society, but rather a limited phenomenon - and that accounts of the subsequent crash may be more fiction than fact. However, there are key takeaways from this story that we, as investors, can learn from.

In today’s episode, we cover one of America’s most prominent cases of financial abuse. Brooke Astor was a well-known figure in New York high society and one of the 20th century's great philanthropists. You'll hear from Brooke's grandson, Philip, about the personal financial crime that unfolded within his own family. He started his own investigation, questioning staff and realised that a significant amount of money has been moved around and legal documents have been altered.

📺How much money would you actually need for retirement? How do we overcome the mental block when it comes to investing in our future? It can be difficult to envision ourselves 20, 30, 40 years from now. This means that all too often, we don’t take the steps we need to take to benefit our future selves.

While we’re living longer, the State Pension doesn’t offer us enough of a buffer. We’re therefore faced with a sometimes daunting personal responsibility to save and invest while trying to eventually achieve our dream retirement.

Here’s a summary of our interactive recording with Becky O’Connor (Director (VP) Public Affairs at PensionBee), Emma Maslin (Money Coach and Founder of The Money Whisperer) and Emilie Bellet (Founder of Vestpod).

Investing in stocks and shares can be a rewarding way to grow your money over time, but it also involves some risks. How much risk are you willing to take with your money? And how does that affect your investment strategy? These are important questions to ask yourself before you start investing, as they can help you choose the right investments for your goals and preferences. Today, we will explain what investment risk tolerance is, how to determine yours, and why it matters for your investment strategy.

Welcome to ‘What on Earth are We Doing With Our Money’, a series where our community shares their financial journeys, hopes, and aspirations.

Welcome to ‘What on Earth are We Doing With Our Money’, a series where our community shares their financial journeys, hopes, and aspirations.

📈 In this episode, we delve into the world of investing. Join us as Helena Wardle, Founder of Money Means and Partner and Chartered Financial Planner at Smith and Wardle, shares insights and strategies to bolster your investing confidence and broaden your portfolio. Together, we'll explore the significance of diversification and learn how to strike the right balance between risk and return. In a high-interest rates environment, we'll address the dilemma of whether to prioritise mortgage repayments or continue investing. 

In this episode, with Chartered Financial Adviser Lisa Conway-Hughes, we talk about vital strategies for navigating this complex and emotional process, covering topics such as protecting your financial future, maximising savings allowances, securing insurance, and safeguarding against scams. We also explore the personal dynamics of inheritance, including factors that influence distribution decisions, such as close relationships, financial needs, and caregiving responsibilities.

Ever found yourself wondering if you're spending too much money? Let’s talk about "lifestyle creep."

You might not have heard of it before, but chances are you've experienced it at some point in your life. It's that gradual increase in your spending as your income goes up, which can lead to financial stress and hinder your long-term goals.

So, let's dive in and explore what lifestyle creep is, how to recognise it, and most importantly, how to deal with it.

📺 Are you wondering, "Should I work with a financial adviser? How do I find one that suits me? And how much does it actually cost?" Well, you're not alone. In a sometimes complex financial landscape, managing your finances effectively is crucial, and sometimes, getting help and support is essential. Today's episode is all about demystifying the world of financial advice. I recently had a fascinating conversation with Karen Barrett, the Founder and CEO of Unbiased, and she shared valuable insights on what you can expect from a financial adviser and how they can add value to your financial journey.

In this episode, we speak to Helena Wardle - Founder of Money Means as well as Partner and Chartered Financial Planner at Smith and Wardle - about finding that golden balance between money and our well-being, how to avoid lifestyle creep and still feel fulfilled, the best ways to avoid retail therapy and more.