My Anxiety About Money Is Ramping Up (& Cost of Living)
My anxiety about money is kicking in again. It has nought to do with the (abstract) media screaming about the rising cost of living. My worry about money combines decreasing income and our regular monthly spending increasing. Let me tell you about it. (If you wish to hear about…
Becoming Debt Free and Five Life Changing Mental Shifts
Becoming debt free is as much a matter of mentality, or your beliefs and attitudes, as it is about numbers and spreadsheets. Don’t believe me? Hear me out and then decide whether you agree with me. And decide whether you are ready to transform how you see your life,…
Wealth Building is Impossible and Pointless Without Health
Wealth building is high on the list of priorities for us at The Money Principle. We believe in personal finance with a twist – we build sustainable wealth for a happier life, and take the friends of The Money Principle with us. We don’t lust after riches, Champaign-filled baths,…
How to avoid over-trading and making impulsive mistakes
The words ‘act in haste, repent at leisure’ should be front and centre in the minds of anybody who trades stocks, crypto, or any other asset – many traders, and particularly newcomers, don’t avoid over-trading and open positions at the wrong time simply because they have acted in haste…
How to Stop Overspending (& still enjoy life)
I had to learn how to stop overspending, and I didn’t even realise I had been doing it. Yes, I would have been seriously offended if you had asked me ten years ago whether I was overspending. In my mind, I was living modestly. Then I kept a spending…
Can You Inherit Debt? (& How to Protect Your Loved Ones)
Can you inherit debt and what happens to my debt after I die? These were the questions racing through my mind when we had £100,000 worth of consumer debt. I also knew we had already messed up our sons’ future royally. Morbid? Probably. Practical? You bet. I didn’t want…
How to Become Debt-Free or the Three Stages of Debt Repayment
You know that we just paid off all our consumer debt. We paid off all shamefully and inappropriately high amount of it n three years. Smooth sailing it was not and, looking back, how to become debt-free has three stages. Naturally, I published a post about it. I wanted…
Will debt affect getting a mortgage?
You need a mortgage to buy a house. You also likely have debt; after all, who doesn’t have debt these days? And the question you ask yourself is will debt affect getting a mortgage. I will give you the short answer first, and please forgive me for sounding like…
How Do I Find Money to Pay Off Debt?
There is one reason you are in debt – you spend more than you earn. It is not rocket science; it is a matter of first-grade arithmetic. If regularly spend more than you earn, you will be in debt. “Ah, now I understand’, you are thinking. ‘But if that…
Which Debt to Pay Off First?
After working out what debt you have, it is time to decide which debt to pay off first. There are different schools of thought, and various personal finance gurus will offer different counsel. I will not tell you what to do or which debt to pay off first –…
What Debt Do I Have (and five practical steps to work it out)
What debt do I have? Many readers ask this critically important paying-off debt question– having a clear picture allows you to calculate whether you can pay it off, and make decisions about specific ways to approach your debt and the order in which to tackle debts. Knowing how much…
Stocks and Shares ISA: Investing for Ordinary People
Do you have stocks and shares ISA? (If you don’t have one, you must open an ISA account promptly.) Statistically speaking, you probably don’t have stocks and shares ISA – in 2018-19, there were only 2.5 million investing ISA accounts in the UK. Furthermore, even if you have one,…