The Money Spot™ - UK Personal Finance

By: Heather Katsonga-Woodward
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  • Summary

  • I’m Heather. A massive personal finance fanatic. I love to answer people's questions on getting rid of debt, saving, stock market investing, property and retirement. Subscribe to this podcast if you want to: earn more, save more, invest more and have fun! No episodes in April, August and December - #SchoolHolidays #MumPodcast
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Episodes
  • #51 Lean Financial Independence on £7,000 a year before age 40

    #51 Lean Financial Independence on £7,000 a year before age 40
    Sep 14 2023
    In this inspiring podcast episode, we explore the remarkable story of Jon, a true financial maestro who has maintained an annual budget of under £7,000 since 2009. What makes his journey truly extraordinary is not just his modest income, but his ability to achieve financial independence. If Jon were to cease working today, his sustainable living wouldn't falter. So, how does he work this financial wizardry? Jon's secret lies in his meticulous tracking of expenses, not income. He openly admits to occasional years where his spending exceeded his earnings. However, his steadfast indifference to material desires, such as fashionable attire and dining out, allows him to keep his spending at a minimum. His rent, a mere £280 monthly, and a thrifty weekly food budget of around £20, all while maintaining a health-conscious, predominantly plant-based diet, highlight his financial prowess. In this episode, we explore the many reasons to admire Jon's simple yet financially savvy lifestyle. Join me as we uncover the inspiring lessons from his journey to achieving financial independence before the age of 40, all by reigning in his expenditure... Ask me a question: www.katsonga.com/coach.html Support the podcast: In $: www.buymeacoffee.com/TheMoneySpot In £: www.patreon.com/TheMoneySpot Your way: www.paypal.me/katsonga
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    44 mins
  • #50 Assume you won't get the State Pension when planning retirement

    #50 Assume you won't get the State Pension when planning retirement
    Jul 14 2023
    To include the State Pension or to ignore the State Pension, that is the question…when you’re retirement planning. If you’re a millennial (born between 1981 and 1996) or later, I’ve come to a bold conclusion: it’s best to assume you won’t receive a State Pension, when you’re planning how much to save for retirement. Let me explain why… While it's likely that some form of State Pension will persist, I believe there’s a good chance that it will become much less generous or that the state retirement age will increase even further. It is also possible that it will become means-tested so only the least well-off will receive it. Because the UK population is ageing and, as a result, the cost of the State Pension is increasing, one or all of these possibilities is almost inevitable. Listen to this episode to discover why it's most prudent for your financial plan to assume a State Pension will not materialise... Get resources and comment on LinkedIn: https://www.linkedin.com/pulse/state-pension-sustainable-so-assume-you-wont-get-when-heather Ask me a question: www.katsonga.com/coach.html Support the podcast: In $: www.buymeacoffee.com/TheMoneySpot In £: www.patreon.com/TheMoneySpot Your way: www.paypal.me/katsonga
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    11 mins
  • #49 You won’t believe how little you need to save to retire … if you start early!

    #49 You won’t believe how little you need to save to retire … if you start early!
    Jul 8 2023
    Retirement is a dream shared by many of us, but achieving it requires careful planning and early action. In this article, we’ll delve into the world of retirement savings and reveal exactly how much you need to save each month to retire comfortably. So, if you're aiming for financial independence but are possibly thinking it’s a pipe dream, buckle up and discover the key to retiring early! A little teaser: if you start saving at 22, to have £1 million by the time you are 68 you only need to save £195 each month if you're single...how much do you need to save each, if you're part of a couple and how much if you don't start until you're 55? Well listen to the podcast or go straight to the resources to find out. Get resources and comment on LinkedIn: https://www.linkedin.com/pulse/you-wont-believe-how-little-need-save-retire-start-heather Ask me a question: www.katsonga.com/coach.html Support the podcast: In $: www.buymeacoffee.com/TheMoneySpot In £: www.patreon.com/TheMoneySpot Your way: www.paypal.me/katsonga
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    13 mins

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