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Buying a home

What Are You Willing To Give Up To Buy Your First Home?

July 19, 2017 by
saving a deposit

With property prices rising a little higher as each year passes, saving a deposit has never been so difficult. If you want to buy your own place, you need to make a few sacrifices here and there. Not gonna lie, you’ll need unsubscribe from that ASOS mailing list, live off beans on toast, and decline so many nights out that your mates forget who you are.

According to a survey from My Voucher Codes, 64% of respondents would stop going on holidays to save more money for their own home, 62% would stop going to the pub and ordering takeaways, and 41% would stop paying for gym membership.

I asked some friends what they’ve given up to get on the property ladder… Continue Reading

Buying a home Money

Here’s Why We All Need To Be Money Saving Optimists

July 18, 2017 by
money saving optimist

I recently read a Huffington Post article on the importance of being optimistic when it comes to climate change.

Solitaire Townsend, founder of Futerra argues that in order to save the planet, we need to think positively rather than assuming the end of the world is nigh.

She says: “It seems that human beings have an uncanny habit of making true what we believe. Whether that’s a belief in economic crashes, our own career trajectories or global climate meltdowns.

“If we believe the worst will happen then we are subconsciously demotivated to prevent it. Whereas, if we hope for the best, then we’ll work, invest, convince others and, in preparing for victory, we’ll create it.”

“If we believe the worst will happen then we are subconsciously demotivated to prevent it.”

I think the same can be said for saving money. Not a day goes by without the internet telling us we’ll never be able to save money, buy our own homes or even retire. Look at this quote from Cosmopolitan earlier this year

 

cosmopolitan housing crisis quote

Don’t get me wrong, the housing crisis is bad, but when websites like Cosmopolitan are telling us to give up on our dreams of home ownership and kiss goodbye to financial security, is it any wonder why so many young people don’t bother saving for the future?

Young people are constantly bombarded with scary facts and figures that make it seem like the odds are stacked against us. We’re so often told that we’ll never be able to buy our own homes so we don’t even try. It’s not helping.

We need to be encouraged and nurtured and hugged all the way to the bank. Instead of being bombarded with tales of woe, we need to be pointed in the direction of thrifty recipes, profitable side hustles, and high interest current accounts. We need to be given more success stories showing that people – from a multitude of backgrounds – can and do buy their own homes every day.

Dya know what? Even if some of us can’t save enough to buy our own homes, saving at least something can tremendously transform our lives.

Having a healthy savings account can enable us to quit jobs that make us unhappy, travel the world, invest in education, protect ourselves from unexpected financial emergencies and retire at a reasonable age. Savings are fun and empowering and life-changing! But we don’t hear much about this side of things because the media’s too busy scaring us.

Instead of telling us how bad the situation is, tell us what we can do to fix it and how these changes can transform our lives.

I’m definitely guilty of being a little negative on this blog from time to time, so I’m determined to change my ways and be more lovely and encouraging. I’ll probably still swear a lot though.

What do you think? Are you tired of being bombarded with scary money stories or do you think these sobering stats are important? Let me know in the comments. 

 

Here's Why We Need To Be Money Saving Optimists

Ask Jenni Debt

Ask Jenni: “My Girlfriend Kept £30,000 Of Debt A Secret. What Should I Do?”

June 6, 2017 by

Welcome to ‘Ask Jenni’, a new blog series where I try to help you resolve your big money dilemmas. This week, let’s have a chat with Claire who made a nightmare discovery when having a spring cleaning session…

Hi Jenni.

My girlfriend (28) and I have been together for 2 years and we recently started renting a small flat together in London. Over the weekend I decided to have a huge sort out while my girlfriend was at work. While tiding the wardrobe, I found a handful of bills that showed she’s in over £30,000 worth of debt from credit cards, store cards and payday loans. When she came home, I confronted her about the debts. It didn’t go well. She’s mad at me for looking through her stuff and refuses to talk about the debt. She says there’s nothing she can do about it right now because she’s living pay cheque to pay cheque as it is.  Since we first got together, she’s always found enough money to go on nights out and treat herself to new clothes though. 

I’ve always been sensible with my money and aside from my student loan, I don’t have any debts at all. I don’t want her finances to ruin mine, but I also don’t feel right breaking up with her over money. Every other aspect of our relationship is perfect so I feel like I should help her. But I’m annoyed that she kept this from me for so long and I don’t know how to fix the problem. From looking at the statements, it seems like most of the debt was accumulated before she and I met.

Claire, 25, London.  Continue Reading

Money

3 Common Obstacles That Stop People Starting Their Own Businesses

June 4, 2017 by
common business obstacles

Starting a business has long been an attractive concept. In fact, around 600,000 new businesses are launched in the UK each year. With self-employment offering a whole host of benefits from flexible working hours to a real sense of ownership and achievement, it’s easy to see why entrepreneurship is such a popular venture. However, despite the countless rewards that can come with running your own business, many people struggle to get their ideas off the ground due to these common obstacles. Continue Reading

Money

Labour’s Manifesto: Here’s How The Labour Party Plans To Change Your Life

May 11, 2017 by
polling station general election

This morning, Labour’s 2017 general election manifesto was allegedly ‘leaked’ to the press, making Labour supporters like me practically keel over with excitement.

As one guy on Twitter pointed out, even if Labour only managed to do half the things in its manifesto, the country would be a much better (and fairer) place than it is now.

I’ll run through some of the key takeaways from what the press claims to be Labour’s new manifesto: Continue Reading