Learning about (and some version of 'sorting out') my pension is big on my list this year, so I'm very much looking forward to hearing what you're learning about this subject!. I think I need to do some moving around of my money/opening new accounts this year too. It feels like a money 'admin' year for me, going back to basics, as I'm coming off the back of the past 2-3 years where I had a lot of outgoing money to deal with (buying a house, getting married, paying off my car!).
I feel like what I most need to get my head around is saving for retirement. I don’t feel confident that pensions are secure investments and would like to better understand the landscape of options.
Claer is great! I’m 10x more likely to listen to a podcast with her as a guest.
I think only a small number of people in the UK have got on board with *not* using ‘Tribe’ anymore - there are even tonnes of yoga studios and fitness studios called ‘Tribe’ which is a bit… blergh. Similarly, even relatively-progressive people in the UK might use the term ‘oriental’ which is very much not-okay on the other side of the pond (as I understand it!).
Great review! My biggest, craziest goal is to learn how to make enough money through the business I started or other freelance/self employment/gig work things so I never have to work 9-5 again. But realistically, and more practically, I want to learn how to roll over 2 401ks I have from previous employers.
Long-time reader, first-time commenter :) just wanted to say thank you for these posts! As an American who moved to the UK in 2019, then moved back to the US last year, I'm finding your insight fascinating! I found the internal currency conversion difficult & essentially tried to reset to thinking in GBP. The investment/pension conversation felt very different (higher employer matching rates, assumption that minimum contributions would cover retirement costs vs. a more general fear or need to invest more/in other places in the US - I'm sure this also relates to public healthcare smh) as well as the advantages of credit cards (no crazy bonus points sign ups, hopefully less credit card debt?). Don't get me started on me not being able to have my own bank account because I didn't have a UK place of employment (could only open an account with my male partner who had a local job). Best wishes for this journey!!
after several very happily boring years of money, this year I'm sorting through the logistics of an inheritance (would rather have the person back) and a few big expenses. I'm trying to both clean up the smaller "leaky" spending I slipped into doing mindlessly, and also be okay with pulling the trigger on purchases that will make my life better and, truly, are why I'm saving that money anyway. So that's all on my plate to wade through.
But the big thing I want to learn this year is, what's up with my HSA?? I've heard tell I can use it as an retirement investment but that feels like so much paperwork to keep track of for literal decades. But, I have one at my current job, so I should really figure out how to best use it. Thanks Cait!
I am enjoying reading your perspective on life and finances in the UK, including this review. Claer is great; I always read her FT columns.
On the more emotional/social side of things, I would recommend “We need to talk about money” by Otegha Uwagba, which is more of a memoir. It touches on “taboo” subjects such as class and home-buying privilege in the UK.
I think insurance is something that British people don’t spend a lot of time thinking about - certainly relative to people in North America. (Or that’s my impression at least.) Though I agree, a personal finance book should definitely cover it!
Someone told me about Personal Liability Insurance in Germany (“in Germany, you are fully liable for any damages you cause to third parties, unintentional or not”) - which blew my mind at first; but that’s because I’m a Brit and we don’t think about such things 😅
Hi Cait, I've been thinking that I wanted to ask this, but felt like it maybe it felt kinda mean, but now that you have brought up the use of 'tribe' which is... absolutely not good...I think it seems okay. I would be really interested to know why you refer to yourself as an ex-pat rather than just straight up as an immigrant, which is what anyone is who has moved countries. When I lived abroad it made me sick that white people were ex-pats, anyone not white? Well they were an immigrant. I now really have an issue with ex-pat as it's a club that only certain people seem to be able to join and once I realised what a loaded word it is, giving a status and a differential that is neither necessary not deserved, well to me it absolutely goes in the same bin as 'tribe'.
I want to learn how good it feels to really stick to a budget and save regularly - something that has been really challenging for several reasons in the last few years. So far things are going to plan, and I’m privileged to have some circumstances that will help me in being able to save quite a bit regularly this year. Money is definitely emotional! I love Claer’s podcast, would be great to hear you on it having a chat with her Cait!
Great review! As a person moving closer to retirement age, I wonder what questions I need all myself and spouse. Due to a debilitating situation, my husband has been declared disabled. As long as we prove through his Dr that this is still the case, he can remain "employed" at the major shipping company he's been employed with for over 37 yrs. OR her can take retirement. With that comes a different set of concerns, namely health and dental insurance. We're not yet being forced to make that decision. But would it be better one way or another? Taking his "government" disability and me continue to work in my career until retirement? Or go ahead and take retirement, which pensions will be less due to his young age, but he'll also continue to collect disability? If I could advise any young person at all, I'd tell them to know from the start what you need to know for your future and how to be better prepared! There are no guarantees, and accidents happen that will knock one off course! Thank you, Cait!
I want to learn how to best plan my finances (but a house, save for retirement), as a self- employed person
Learning about (and some version of 'sorting out') my pension is big on my list this year, so I'm very much looking forward to hearing what you're learning about this subject!. I think I need to do some moving around of my money/opening new accounts this year too. It feels like a money 'admin' year for me, going back to basics, as I'm coming off the back of the past 2-3 years where I had a lot of outgoing money to deal with (buying a house, getting married, paying off my car!).
I feel like what I most need to get my head around is saving for retirement. I don’t feel confident that pensions are secure investments and would like to better understand the landscape of options.
Claer is great! I’m 10x more likely to listen to a podcast with her as a guest.
I think only a small number of people in the UK have got on board with *not* using ‘Tribe’ anymore - there are even tonnes of yoga studios and fitness studios called ‘Tribe’ which is a bit… blergh. Similarly, even relatively-progressive people in the UK might use the term ‘oriental’ which is very much not-okay on the other side of the pond (as I understand it!).
I want to learn how to make more money
Great review! My biggest, craziest goal is to learn how to make enough money through the business I started or other freelance/self employment/gig work things so I never have to work 9-5 again. But realistically, and more practically, I want to learn how to roll over 2 401ks I have from previous employers.
Long-time reader, first-time commenter :) just wanted to say thank you for these posts! As an American who moved to the UK in 2019, then moved back to the US last year, I'm finding your insight fascinating! I found the internal currency conversion difficult & essentially tried to reset to thinking in GBP. The investment/pension conversation felt very different (higher employer matching rates, assumption that minimum contributions would cover retirement costs vs. a more general fear or need to invest more/in other places in the US - I'm sure this also relates to public healthcare smh) as well as the advantages of credit cards (no crazy bonus points sign ups, hopefully less credit card debt?). Don't get me started on me not being able to have my own bank account because I didn't have a UK place of employment (could only open an account with my male partner who had a local job). Best wishes for this journey!!
after several very happily boring years of money, this year I'm sorting through the logistics of an inheritance (would rather have the person back) and a few big expenses. I'm trying to both clean up the smaller "leaky" spending I slipped into doing mindlessly, and also be okay with pulling the trigger on purchases that will make my life better and, truly, are why I'm saving that money anyway. So that's all on my plate to wade through.
But the big thing I want to learn this year is, what's up with my HSA?? I've heard tell I can use it as an retirement investment but that feels like so much paperwork to keep track of for literal decades. But, I have one at my current job, so I should really figure out how to best use it. Thanks Cait!
Learn a balance between being overspending and extreme frugality
I am enjoying reading your perspective on life and finances in the UK, including this review. Claer is great; I always read her FT columns.
On the more emotional/social side of things, I would recommend “We need to talk about money” by Otegha Uwagba, which is more of a memoir. It touches on “taboo” subjects such as class and home-buying privilege in the UK.
I think insurance is something that British people don’t spend a lot of time thinking about - certainly relative to people in North America. (Or that’s my impression at least.) Though I agree, a personal finance book should definitely cover it!
Someone told me about Personal Liability Insurance in Germany (“in Germany, you are fully liable for any damages you cause to third parties, unintentional or not”) - which blew my mind at first; but that’s because I’m a Brit and we don’t think about such things 😅
Hi Cait, I've been thinking that I wanted to ask this, but felt like it maybe it felt kinda mean, but now that you have brought up the use of 'tribe' which is... absolutely not good...I think it seems okay. I would be really interested to know why you refer to yourself as an ex-pat rather than just straight up as an immigrant, which is what anyone is who has moved countries. When I lived abroad it made me sick that white people were ex-pats, anyone not white? Well they were an immigrant. I now really have an issue with ex-pat as it's a club that only certain people seem to be able to join and once I realised what a loaded word it is, giving a status and a differential that is neither necessary not deserved, well to me it absolutely goes in the same bin as 'tribe'.
I want to learn how good it feels to really stick to a budget and save regularly - something that has been really challenging for several reasons in the last few years. So far things are going to plan, and I’m privileged to have some circumstances that will help me in being able to save quite a bit regularly this year. Money is definitely emotional! I love Claer’s podcast, would be great to hear you on it having a chat with her Cait!
Great review! As a person moving closer to retirement age, I wonder what questions I need all myself and spouse. Due to a debilitating situation, my husband has been declared disabled. As long as we prove through his Dr that this is still the case, he can remain "employed" at the major shipping company he's been employed with for over 37 yrs. OR her can take retirement. With that comes a different set of concerns, namely health and dental insurance. We're not yet being forced to make that decision. But would it be better one way or another? Taking his "government" disability and me continue to work in my career until retirement? Or go ahead and take retirement, which pensions will be less due to his young age, but he'll also continue to collect disability? If I could advise any young person at all, I'd tell them to know from the start what you need to know for your future and how to be better prepared! There are no guarantees, and accidents happen that will knock one off course! Thank you, Cait!
I want to learn more about investing.
I would like to learn: how to feel more secure about my financial situation