Turning passion into profit

Turning passion into profit

So many of us have things we’re passionate about, but assume we have to fit in around the edges of sensible, earning lives. But over the last year or more – with Covid and Lockdown – everybody’s routines have been disrupted. And some of that disruption has proved really fruitful.
 
We’ve been forced to stop, and look at what we’re doing.
 
One Lockdown success story is Hanri van Wyk’s. Hanri, a long-term client of mine, has....

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Financial support during COVID19

Our relationship with money is challenging at the best of times. But right now, with reduced salaries, business losses, savings being depleted and stock markets falling sharply, it's testing the financial health and anxiety levels in all of us. While there's a lot of support and help out there, it's not always easy to navigate when we're emotionally charged.

Dr George Callaghan and Simonne Gnessen were asked to put together a webinar to help people through this difficult period, in particular to recognise that they have substantial personal resources and energy they can draw on during this challenging time. It's aimed at employers, employees and self employed business owners. 

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Digital banks helping people manage money mindfully

Digital banks helping people manage money mindfully

Do the names Monzo, Starling, Atom Bank and Revolut mean anything to you?

I often discuss with my clients how these type of digital banks help make money management more accessible and fun than a traditional bank by using your smart phone to track your spending. 

These digital banks offer easy-to-use budgeting tools, instant notifications when you spend and straightforward ways to save. And this is all available at your fingertips, via your mobile phone.   

They’re also helping to create conscious, mindful spending. 

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What’s your attitude to money teaching your kids?

What’s your attitude to money teaching your kids?

If you want your kids to grow up with a healthy attitude to money, the first place to start is to look at your own habits and behaviour with money.

Our beliefs around money - both conscious and unconscious - are mostly informed by what we learn, experience and observe as we grow up. So how you deal with money will undoubtedly influence how your children manage their money as adults. 

I’ve recently been working with a client, Sophie, on her money story and looking at how this feeds into her existing relationship with money. We explored her early experiences with money and began to gain insight into previously unconscious beliefs that had been getting in the way of the results she wants to achieve. Through this work, she slowly began to see how she'd been reinforcing old beliefs through some of the decisions and actions she'd taken. 

As a child, Sophie's parents had gone from running a successful family business, with trappings of wealth, to being declared bankrupt. The family had to move out of the house they owned into rented accommodation. She was able to stay at the school she’d always attended but became increasingly aware of her different financial status compared to her peers.

She recalled one time the embarrassment of having to tell her teacher she wasn’t able to afford a school excursion. And another being ridiculed by other pupils for wearing her summer shoes for school in winter months. 

Sophie's money story was one of scarcity and now, in adulthood, she found herself giving her children, aged six and nine, conflicting messages about money.

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Self-assessment and tax relief on charitable donations

Self-assessment and tax relief on charitable donations

While December is a month of splurging, January is typically associated with cutting back – whether that’s on food, alcohol, or spending.

If one aim this year is to improve your financial situation, increasing income is just as important as reducing spending. One area often overlooked is finding ways to claim everything you’re entitled to. This is especially important if you’re one of more than 10 million people completing their self-assessment tax return ahead of the 31 January deadline. 

Self-assessment 

Self-assessment is a system used by HMRC to collect tax. If you’re an employee, tax is usually collected automatically from your monthly salary and shows up on your payslip. But if you’re self employed, or have additional sources of income such as savings interest or rental income, you have to declare your income to HMRC and offset against that any expenses that attract tax relief. The more tax relievable expenses, the less tax you have to pay, which means more money in your pocket.

So when you’re completing your tax return it pays to make sure you’re claiming all the tax relief you’re entitled to. 

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Could a money coach solve your money problems?

Could a money coach solve your money problems?

Flic Everett, 46, is in debt, has no pension and does not own her own property, so she put her trust in me to help her get a grip on her finances, and to improve her relationship to money. 

This article in the FeMail gives you Flic’s account of what she got out of our sessions and from the work she prepared in advance of us meeting. It also gives you insight into what goes on in a coaching session and some of the exercises I use.

Read the article here

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sowing the seeds for financial success

sowing the seeds for financial success

This month our inboxes are overloaded with motivational messages, pinging at you like a hyperactive personal trainer: Lose weight! Get fit! Stop smoking! Start training! Write that book! Sort out your money! I'm advocating a calmer, gentler approach to achieving your financial goals; scaling down intentions to a manageable level. If you set yourself up to succeed, you'll be rewarded with an upward spiral of belief and trust in yourself.

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Finances on separation

Finances on separation

The process of divorce or separation forces you to make big financial decisions at a time of intense emotional upheaval. There is an urgent need for clarity, understanding and clear planning to ensure those decisions are made well, as they could have a big impact on your future.

The financial side of divorce can be a daunting process, especially as many of us struggle to understand where our money goes at the best of times. There may be financial issues – such as pensions, investments, debts or a family business – that you have never really understood, and now decisions need to be made about how to share these. Even apparently straightforward questions, such as ‘how much do you need to live on?’ are complex when on the cusp of a big life change.

Financial coaching provides support and guidance in understanding money, and so can be particularly helpful for navigating the financial aspects of divorce and facilitating discussions between couples.

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What are we giving our children at Christmas?

What are we giving our children at Christmas?

I was chatting to my hairdresser the other day, having the conversation we’re all having at this time of year: “You all set for Christmas? Done your shopping yet?” She said she was all ready, excited for her young children aged 7 and 10, and revealed that her budget was £500 per child.

I left the hairdresser reeling a bit from this figure, and the wider implications of that kind of spend. It set me thinking about what we’re actually giving our children at Christmas. Every parcel under the Christmas tree is wrapped not just in sparkly paper and ribbons, but in many layers of belief and attitudes and values. While the actual presents may soon be forgotten, these extra layers often stay with people for their whole lives – affecting how they deal with money, love and giving in adulthood.

It's these beliefs and attitudes...

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‘Retail therapy’ not a myth—we spend when emotional

‘Retail therapy’ not a myth—we spend when emotional

By Marianne Curphey
Published: 15 April 2014

Think about the last time you went shopping for no particular reason. Perhaps it was a sunny Saturday afternoon, maybe just after hearing some excellent news. Or maybe it was a rainy, cold day, and you had just been through a breakup. Whether you're fuelling your good disposition or aiming to make yourself feel better, your mood has more impact on your spending than you may think. But there are ways to fight the urge to splurge.

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Smoothing your financial ride

Smoothing your financial ride

Suddenly it’s December again and Christmas is coming hurtling towards us in a blur of sparkly lights and parties and last minute shopping, making excessive demands on our budgets. That’s how it often feels – to have come suddenly at us, even though December follows November each and every year.

One of my clients, Anna, is taking Advanced Driving lessons and her instructor had said that the most common word in accident reports was ‘suddenly’: ‘suddenly the van came hurtling round the corner’; ‘the car ahead braked suddenly’. Anna was learning that Advanced driving skills are all about anticipation - looking well ahead, adjusting your behaviour to ensure a smooth ride. Things rarely happen ‘suddenly’ if you’re anticipating well. She realised that ...

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