Money Musings

The latest views, tips and opinions

How to think about insurance – using logic

Here’s how you should think about insurance. First think about the severity of the risk you are protecting against and secondly consider the possible scenarios that will occur in the future. Severity of risk Is the event you are insuring against likely to have a...

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The best way to save for your children and grandchildren

Many of you wish to set aside some money to help your children when they get older. There is one way of saving for your children, which trumps any other available option. That option is to save into a personal pension. Many people don’t realise that you can save into...

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What is a good debt?

Many financial types, especially those who operate in the property space, talk about good debt. Debt that is used to buy assets that increase in price is described as being good. It’s good because you can buy more assets sooner than otherwise would have been the case,...

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Surprise! You’re Rich. Now what?

Sometimes people come into unexpected wealth through many possible sources, such as winning the lotto, selling a business they have been working on for years with little reward, or receiving an inheritance. The first impulse of many people is to run right out and buy...

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Financial Coach. Both a Financial Planner and Teacher

What is a financial coach? With all the descriptions of financial professionals out there from financial adviser, wealth manager, financial planner, financial consultant, wealth creator etc., why would I add to the noise and come up with a different job title? Well,...

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A good financial plan considers all factors

Most of us specialise nowadays so we can excel at a given topic, however when it comes to your personal financial plan, you need to ensure that you don’t let one factor (e.g. tax) outweigh other factors (such as investment risk) when considering your overall situation...

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The Paper Empire. The EU and your chance for Freedom

The EU has built the world's first paper empire and intends to expand it's influence over your lives and into other territories. With the forthcoming referendum on 23rd June gripping everyone’s attention and taking our focus away from more productive and enjoyable...

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Spending a million pounds and being a millionaire

Do you want to be a millionaire or to be able to spend a million? There’s a significant difference. The two terms are commonly misused as the same thing, but in fact they are polar opposites. Everyone talks about the national lottery and how he or she would love to be...

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Money equals time: a valuable commodity

Thinking about money can be confusing and boring. The math is enough to make your head hurt! If you’re not that financially inclined, then it may be useful to think about the relationship between money and time. Basically money equals time. First of all when you are...

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No excuses

The Chinese population have an average annual household income of approximately £5,800 a year and the average household saves approximately 30% of their income. So a Chinese household is putting away roughly £1,700 each year. They put us Brits to shame when it comes...

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A little financial poetry

Here's some financial poetry for you. It's a little different from my usual money musings, but I hope you enjoy it all the same and find it helpful for learning about your finances. With sincere apologies to Charles Mackay!   The headlong twit that wants to...

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