Your Personal Finances — sorted.
At the end of January we held our #Finimized: New Year, New Finances event at Campus London! It was an evening filled with delectable sliders, cold beer, and even better company.
Jason Butler — one of the top 100 financial advisers in the UK, Financial Times columnist, author, speaker, and investor — came out to speak on personal financial wellbeing. Right in time to satisfy all your “New Year, New You” desires! He spoke on his experience as a financial adviser and shared lessons learned through tangible and relatable stories.
Jason enjoyed engaging the audience right off the bat. He started off with a theoretical game — how would you feel after winning the lottery? To which people answered “happy”, “thrilled”, and my personal favorite: “relieved”. Then he shared a story about a couple that won the lottery but lost their ticket, and sadly never saw a penny. A shame… The point? Welcome to the real world. Save up and make yourself an emergency fund. 😉
His charisma carried its way through the room in a conversation that made saving sound like fun! But how do you motivate yourself? His favorite strategy: download a face aging app. When you look at yourself 20+ years down the road, you will understand the importance of having your finances sorted.
It all starts with saving for an emergency fund . Once you have that, you can start investing. And don’t jump for sexy right away! Make sure to go for low-risk first, like index tracking funds. Then you can up your appetite for riskier investments. 🙌
It’s similar to training for an athletic event, Jason related. When you’re training, it’s sexy to run a marathon but it takes consistent dedication of “boring” runs and sit ups to build up muscle.
Some key takeaways that Jason shared were:
Spend less than you earn
Save the difference
Invest in a diversified portfolio of great companies
Be very patient
Sounds easy, right?
Jason suggested making a budget, and sticking to it. That’s what creates happiness! When you know you’re secure in your finances you’ll have that easy breezy beautiful aura about you. 😉 A helpful tip here, Jason says, is to have a buddy to keep you accountable. And not the kind of buddy that will encourage your purchase of Jimmy Choo’s “because you deserve it”. (You catch my drift.)
For the Q&A, the audience came forth with several great questions, some motivated by the possibility of free Finimize socks. My favorite asked about irrational spenders and how to get on track. The Instagram epidemic plays a huge role in this. Too many people are spending money on things they don’t need to impress people that don’t care. The answer is to get to the root cause of why the overspending is happening. Find out what’s truly important to you on a regular basis, then budget for only that.
We had a great mix of people join us with various backgrounds. A CEO of a fashion-tech company chatted to me about launching his website, while others in attendance ranged from Deloitte Analysts to art collectors. What a great night!
P.S. Are you located in the US? Join us at our first ever event in Boston (and the US!) on Feb. 16th. Grab a spot here!
~Anna, Community at Finimize