Are you concerned about not earning enough money? Do you often feel you are not in complete control of your personal finances? Money may or may buy happiness, but worrying about not having enough of it is surely bad for your well-being.
Money expert and award-winning journalist Laura Whateley’s work Money: A User’s Guide (2018) is a The Sunday Times bestseller. This book provides a comprehensive guide to understanding how money works in modern societies and all its crazy complexities. And unlike the boring finance guides out there, this one keeps it real and might just challenge how you think about money. Whether you wanna rethink your spending habits or change the system, this has it all.
Follow us as we take you through tips on how to make informed choices about your personal finances. Let's begin by addressing the biggest financial issue of our generation - housing.
Summary
Money: A User’s Guide simplifies complex finance-related topics like housing, credit scores, mortgages, pension plans, and investment funds and empowers you to make smart and healthy choices about personal finance. The brilliant user guide equips you with tools to understand how financial products work. Your relationship with money impacts your mental health, sense of security, and even close relationships. Taking control of your money and expenses empowers you to lead a happy and peaceful life.
Learn how to navigate the housing market with mortgaging strategies!
Here's the scenario: Housing prices are surging higher. Should you apply for a mortgage, banks typically will not lend you more than 4-5 times your annual salary. So, homes are quickly becoming unaffordable for a lot of people relative to their incomes. To put things into perspective, here's a stat for you from the 2018 report on housing prices in London: it's 16 times higher than the average salary of 25 to 34-year-olds. And the situation is even worse in...
Improving your credit score improves your chances of getting loans!
Aware of the importance of your credit score? If not, here's what you need to know. While you dream of owning that picture-perfect house, financial watchdogs are already chronicling your every money move; keeping tabs as you pay or default on obligations - from bills to loans to gauge whether or not you can repay loans on time. By consistently paying on time, you build a strong credit history that says “I’m reliable!” Banks then view great credit scores and see...
Managing Debt Through Mindful Spending and Strategic Repayment
Debt problems have gained more power over many than they actually have. What if we told you every debt situation has solutions? Even if it seems impossible right now, taking control of the mess is within reach. So, how do I start, you ask? Well, simply understanding the different debt types and best practices for managing them will win half the battle for you. Then, you can prioritize tackling the most toxic debts first. For example, student loans should not cause...
Master the art of effective and well-timed budgeting!
Managing your money and budgeting properly is critical, but it's not always easy or intuitive. And, no! it's not gonna be easier "if only you had more money"! The main deal is about being efficient with what you have. The key word is efficient. Not stingy! You do not need to lower the quality of your life to manage your money. You're allowed to indulge yourself. What is not allowed is spending money mindlessly. Get the point? Now, let's see...
Why put money in investment funds?
Investing money over at least 5-10 years provides superior returns when compared to savings in cash. Unexpected, isn't it? Here's what the deal is: your savings account is... well, just saving. And since inflation is literally off the charts, you are losing money because of that. Simply put, the growth rate of your savings is slower than the growth of the currency. You need to catch up! Financial experts suggest putting money in an investment fund as the better alternative.Maybe...
Start the pension plan early!
With rising life expectancy and uncertainty around the future state pension system, young people today need to engage with long-term retirement savings early on. Blah, boring! Yes, we hear you. But we also know the average 25-year-old woman today can expect to live to age 91 and has a 19% chance of reaching 100. So odds are your retirement years will be quite lengthy. But, making use of tax breaks and employer contributions during your working life is your best...
An open discussion about finances is the key to a healthy relationship!
Imagine a scenario where your partner asked you to move in. You are excited about the development. But before you move in, they ask you to pay for rent. Is it fair to ask for a share in the bills when you are basically helping them to pay off the mortgage on a house they own? There is no right or wrong answer here. Each couple handles finances differently. But the mature thing to do is to have that awkward...
Navigating well-being, emotions, and finances
Ever hidden a bank statement straight in the trash to avoid facing your spending truth? We've been there. Financial hang-ups plague most people at some point. And they seriously mess with your mental health. A study shows that people with out-of-control debt are 33% more likely to battle anxiety or depression! How sad is that?Turns out, all those debates on "money cannot buy happiness" had at least one thing that wasn’t right. Our relationship with money does affect emotions; there's...
Investing for Positive Change With Socially Responsible Finance
Have you ever wondered if your hard-earned dollars are funding industries that don't align with your values? It's a fair question. After all, who wants their money going to companies that jeopardize public safety or the environment? Yet many people are unwittingly investing in such companies through their pensions. For instance, some UK pension funds own shares in American gun manufacturers. So while we're speaking out against issues like school shootings, our money is funding the companies that sell guns....
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About the Author
Laura Whateley is an award-winning journalist and The Times' consumer champion writing the agony aunt column, 'Troubleshooter', and 'Millennial Money' in the Saturday Money section. She also specialises in affordable travel, property, and interiors for The Times and has written for The Sunday Times, the Guardian, the Observer, Dow Jones and Moneywise magazine. She grew up in the West Country and studied PPE at the University of Warwick before moving to East London. Money is now a Sunday Times bestseller.
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