Monday, 9 November 2015

Money Talk: Lessons Learnt (Part 2)

Bienvenue à Paris!
This weekend was another working weekend spent taking yet more clients to some of the top hotels in Paris. As the host to 30 clients I must say it was somewhat knackering, but hey, no complaints from me. Firstly, I get to see some fantastic places, and secondly I believe this job is a blessing from God so only gratitude here.

Speaking of work, as young professionals we are often thought of as having plenty of disposable income by virtue of our fancy job titles. After all we work don't we? Many of us have no kids and therefore no responsibility, so what could we possibly be doing with all our money? At SoulJouner's Story we understand that being a young professional does not necessarily mean loads of money in the bank. For starters, a lot of us are still paying off our student loans, and let's not even start with the season train ticket! BUT this blog is the positivity zone, and we like to offer solutions that will enrich your life. 

La folie à l'hotel 
These tips are not the usual, 'don't spend more than you earn' lark, but is advice that is specific to my experiences.
So here is part two of Money Talks: Lessons Learnt.

1. ALWAYS read the small print. I can't stress this enough. Signing on the dotted line before establishing the facts can be very expensive. In 2011, I made a provisional booking for coach hire for a trip I was organising for my youth group. This meant that they had my card details but had not charged me anything yet. The trip got cancelled for reasons I couldn't control. Simple, right? Except, when I tried to cancel my provisional booking with coach company, I was told it was too late to cancel, and that the company was going ahead with the £400 charge to my card. What a massive blow.

Un petit morceau a manger
2. Whether by diary, post-it notes or reminders on your phone, ALWAYS make a note of due dates for bill payments and subscription 'cancel-by' dates. My last point is a case in point example.

3. Do not lend money you couldn’t afford to live without if it were not to be paid back on time, or at all. (On the flip side, do not borrow money you know you will not be able to pay back). This was a lesson I learnt thanks to an ex boyfriend of mine. A few years ago, when I was a little less wiser than I am now, I lent a man I was in a relationship with a sum of money. (No need to disclose the amount) I struggled to figure out how I'd make ends meet that month, besides it was quite a sum! But, he asked nicely and promised that payback would be prompt and without protest, and so I obliged. You see where I'm going with this...

Le pain quotidien
4. Do not bury your head in the sand! I have no specific example to tie to this point. However, I can say that there are times when I have been too busy to open the envelope from my bank, or even too scared to after after too much spending. This never helps, as you deny yourself control over your finances.Worst still, you may withdraw more than you have in your account or exceed your overdraft limit, which will only result in more charges! Keep track of your finances. There are some banking apps that can even alert you if you are approaching your limit. Find out!

As I said these are all my own from my personal experiences and I am not a qualified financial advisor. If you are in serious financial trouble or would just fancy some advice from a professional, you should consult the likes of Money Saving Expert or The Money Advice Service. If you'd like to read part one of Money Talk, please click here. I will conclude this series with SoulJourner's Story's Moneyfesto©, so keep your eyes peeled!

On a last note, what do you all think about the government offering universities the opportunity to raise their tuition fees above the £9000 a year they are currently charging?

Merci beaucoup!

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