financial coach

Are WE the financial virus ?

Are you one of the many people who are finding the virus is good for their finances?

Whilst obviously many are struggling due to furloughed income or maybe not even being able to earn at all, there are lots of families still working and being paid full salaries .

With limited opportunity to spend and almost no option to eat out some are seeing their finances start to heal.

Those trips to Starbucks, buying a new dress, outfit, shoes  just because it’s this season’s colour or extracurriculars for the kids, new wardrobe, new kitchens , new cars ….. consumerism that we tell ourselves are all life’s essentials, essentials we are now managing without.

Enforced reductions in outgoings are meaning many are seeing their finance start to heal and recover.

Is it now time we recognise shopping is not the carefree past time we have been led to believe, but in fact it leads too many into debts which take years to clear, the emotional pick me up it often provides in that impulse purchase turns to mental anguish when the credit card statement hits the mat .

Are our spending habits our own personal financial virus? As we move into the new normal can we restore our relationship with money to health again?

So how can we help our relationship with money heal and repair? How can we use this enforced lockdown and the time in our new normal to benefit our future normal?

Here are 5 areas you may wish to consider to help you and your finances in your new normal.

1.  Read Books About Personal Finance

If you need help with your finances but aren’t sure where to start, seek financial wisdom from books written by experts. Educate yourself. 

There are many books out there on taking control of your finances, from how to get out of debt to how to build an investment portfolio. Books offer a great way to change your approach to managing money.

2. Plan a Monthly Menu

Planning your food will save you so much money. You’ll know by now that planning is a significant theme for me in helping you with your finances. 

3. Pay Off Your Debt

First things first, are you consciously aware of all your debt – or do you hide from the envelopes and the stick to your minimum payments?

4. Go on a spending Fast

It’s tempting during the lockdown to hit the online shopping, and I can tell you that I am on a first name basis now with our local delivery guys because everyone in my house is getting stuff delivered. But set yourself a goal not to buy anything new for a month and see how much you have left at the end of the month

5. Look At your Bank Account Every Single Day

Facing up to your finances is one of the hardest things to do – and the most important. It’s made even easier now because we have access to apps and online banking. So face up to it every single day, so you know where you are and how you are doing.

As a qualified and experienced financial advisor and financial coach I help you develop actionable daily habits to improve your finances. So make it a daily habit, like brushing your teeth. Think of it like good dental hygiene = good financial hygiene!

If you need someone who knows what to do, won’t judge you, and will ask those difficult questions and help you fix the problem – then please email me and let’s chat – email me now! chat@rachelrowley.co.uk

Let me help you Master Your Money and Live the Life you Deserve!