Something that has only dawned on me with wisdom is the importance of protecting our financial future. When I started working, I was paid an absolute pittance but managed to have a pretty decent life with my meagre earnings. Of course it was because I was spending every penny and not saving anything at all. As I got older and started thinking about buying a house, my financial behaviour had to change enormously to make this happen. Loans had to be cleared, credit card balances paid off and a lovely healthy credit rating established. It took time and a second job in the evening at one stage, but I eventually got there. A bit like Monica Galetti from Masterchef who had some pretty tricky financial issues when she first moved to London.
Monica Galetti talks about becoming a chef
I've been working with FSCS recently and I’m a fan of their “Protecting Your Future” campaign to make people aware of the protection that they offer your money (up to £85,000) if anything happens to your bank. And let’s face it, there’s been turbulent times recently in the banking sector. I know that I’d like my money to be protected should the worst happen to my bank. It’s a completely free scheme and so far it’s helped over 4.5 million people, paying out more than £26 billion in compensation.
We've got into the habit of saving for things we really want to do, like very special holidays, or this year’s project : replacing the bathrooms. After almost 15 years, I think it’s time for a much needed makeover and I’m finally going to get the bathroom of my dreams with lots of streamlined storage and amazing water pressure in my shower. Is it time for you to give your finances a healthcheck and set some goals? I’d love to hear about them.
In association with FSCS