Emma Knights Money Journey: Anniversary EpisodeBusiness Brilliance
These episodes of the Money Compass podcast were published on 29th July 2021. You can listen again by heading to our Episodes page, or on your favourite podcast player.
We have released three new Money Journey episodes to celebrate the 1-year anniversary of our Money Compass Podcast. Julie, Becky and Emma interview each other and give their own Money Journey stories.
Becky’s Top Tips
- It’s important to teach children at a young age about borrowing money and repaying it. Never be afraid of saying no, it will stand them in good stead for the future
- If someone else can do something you can definitely do it too
- When you receive your income save what you can afford to
- Choose your career path carefully, university isn’t for everybody
- Live within your means
- Take small steps on the property ladder and overpay when you can afford to.
Julie’s Top Tips
- Money doesn’t make your childhood. You can still have a very rich life with lots of memories and experiences without spending a lot of money
- Save hard to achieve your goals
- Don’t be limited by your roots and where you came from. Once you meet people from other backgrounds the opportunities are endless -expose yourself to these opportunities!
- If you have more than one opportunity to try something at the same time do whichever is best for you, put yourself first
- Be savvy – by volunteering there are opportunities for free or reduced priced trips and holidays
- When you’re single and have debts it can feel a much greater burden than when you have debt with another person. Consider the debts you are building up and how you will repay them
- Be paid your worth, don’t undersell yourself. Be recognised for the value you bring to your employer or business, it is more important than you may realise
- Planning your exit strategy from your business is so important to enable you to you fulfil your retirement
- Enjoy life in the lead up to retirement, don’t leave everything until you retire as you don’t know what the future will hold.
Emma’s Top Tips
- Your attitude and behaviour towards work will have a significant influence over your children and future generations. Consider the impact you have
- Being independent and saving for your goals will give you one of the greatest sense of achievements
- If you take the wrong path in your educational choices it’s not too late to change direction, no matter what anyone else thinks!
- If you’re put into a potentially difficult financial situation but you have a strong work ethic you’ll be able to work your way out of it
- When helping your children remember to protect both yourself and them often by loaning money rather than gifting. It can be really beneficial, otherwise your wealth could be lost through relationship break ups
- If you can’t afford to buy something outright think carefully about whether you can afford to finance it and whether the monthly repayments are affordable