Your source for weekly Financial Education and all things money 📍
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#15 - What are SIPPs & How Do They Work? With @allourbestintentions
Tara from @allourbestintentions joined me on this podcast episode to discuss SIPPs.
A SIPP, or Self Invested Personal Pension, is one option available for us in the UK to invest for the long-term. These differ to Workplace Pensions (which is what I currently have), so we first started by talking about the difference between the two.
Tara then talked us through how the pension tax relief works, as well as the basics of what SIPPs are and who they are for.
We also discussed the various SIPP providers that are available for us in the UK and gave some tips to help people decide which is the best provider for themselves.
Listen to the podcast for full details!
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#14 - Passive Income & Side Hustles With @pandabossanna
Anna from @pandabossanna joined me on this episode to talk about passive income streams and side hustles.
Building up passive income streams, whether that's through investing or a side hustle, is a goal that many people have so that they can be 'free' from working a 9-5 job.
We started off the podcast by defining passive income and how it compares to active income. Anna and I also touched on the reality of building passive income streams in that they require a lot of upfront work by us which is why it's important to think long term.
We then segwayed into talking about side hustles and how starting a side hustle in something you're interested in is a great way to build up passive income streams as we can monetise through ad revenue, affiliate schemes, and more.
Listen to the episode for the full details!
#13 - From Saver To Investor With @laura_ann_moore
Laura joins me on the podcast to discuss how she saved £15,000 and then £25,000, before taking the plunge to making her first investment in 2020.
Many people are in a similar position where they are able to save money but struggle to get started investing, whether that's out of fear or out of procrastination, or a bit of both.
In this episode we talk through Laura's journey of how she managed to save huge sums of money even on a relatively low salary. We then discuss how she started to educate herself on investing before making her first investment. As well as finishing the episode by touching on how she feels now that she is an investor and whether she plans to keep investing going forward.
Listen to the podcast for more details.
#12 - What Are Index Funds & Why They Beat Active Funds With @mrmoneyjar
Timi from @mrmoneyjar becomes the first person to make his second appearance on The Making Money Simple Podcast to discuss all things index funds.
Timi starts us off with the basics and breaks down exactly what index funds are, before we move onto discussing the pros and cons of using index funds when investing. Ultimately, index funds 'track the market' and are low cost in comparison to active funds that try to 'beat the market' and are higher fee. Aside from this pro, other pros include that index funds are very passive and hands-off investments with the goal being to buy consistently, and buy and hold for the long term, to one day live off of our investments.
We move onto discuss index funds vs active funds in more detail, drawing on Jack Bogle's wisdom from The Little Book of Common Sense Investing which showed that over a 45+ year period 80% of active funds didn't only not beat the market... they no longer existed.
Listen to the full episode as we discuss index funds and active funds in detail and explain why index funds are the easiest, and arguably the best, way to invest for the long term.
#11 - The Art Of Money Discipline With @mravocadough
Mr Avo joined me on this episode of The Making Money Simple Podcast to discuss money discipline.
The conversation was free flowing and we discussed a range of topics, from opportunity cost, to instant vs delayed gratification, to lifestyle inflation, to how to set yourself up for success on payday.
In particular, we talked about frugality and how it is important to strike a disciplined balance. Whilst having an avocado toast on the weekend won't be too detrimental to your wealth building journey, daily expenditures can certainly rack up over the course of the year.
It's important to strike a healthy balance between treating yourself but also investing for the future. As ultimately the goal of investing is to one day build up your 'nest egg' to a point where you can do whatever you like on a daily basis.
Listen to the full episode for more details.
#10 - Everything You Need To Know About ISAs
In this 15 minute episode I break down everything you need to know about ISAs. ISAs are the best way to grow your money as all of the gains are tax-free!
The things covered in this episode include:
- The basics - what are ISAs, how they work, the £20k annual allowance and how this works
- 4 types of ISA - Cash, Innovative, Stocks & Shares, Lifetime
- I look at S&S ISAs and Lifetime ISAs in more detail, including the different approaches to S&S ISAs and which Lifetime ISA is best for your situation
- How many ISAs you can contribute to each year
- 2 ways to switch your ISA
- ISAs vs Pensions
And a lot more. Listen to the entire episode to up your ISA knowledge!