DescriptionOn 21 February 2023, Riddell Hall had over 100 women gather from the WIB and Lean In Networks to Spring Clean their Finances with the help of Dr Elaine Stewart and Aine Gallagher FCA (QUB) and Cathy Brennan (Resourceful Planner).
We are living through continuing uncertain times, with the rising cost of about almost everything, interest rates increasing and all of us feeling the squeeze - a workshop to focus our minds was just what the money saving expert would have prescribed us. There are two key elements that allow people to manage their finances well, financial literacy and financial capability. The gap lies in the confidence to utilise both of these together.
During the workshop, the attendees took part in a poll that outlined their money personality showing that understanding one's relationship with money underpins how it is spent or saved. One key point outlined was how our well-being can impact how we interact with money and critically how we save.
Shockingly, women have TEN TIMES less than men in their pension pots!!! Thankfully there are lots of tools especially digital apps that can track your expenses, roundup change and create various visual savings pots. The key thing to do is use them and reassess these every month. By setting aside a few hours for a monthly 'laundry day' of your finances, you could:
💸 Review spending & saving
🛒 Shop around for better deals
👵 Pull together your pension pots
📱 Research reviews on visual saving apps
📊 Check your Annual Percentage Rate (APR) to help understand the cost of borrowing.
|21 Feb 2023
|Queen's Business School
|Degree of Recognition