Informed Choice Radio - financial peace of mind with Martin Bamford

There are a handful of books which have genuinely inspired me to live a better life.

I've always thought that the measure of a good book is not how many times it is read or even recommended, but how many times you gift it and share the wisdom with others.

My guest on the podcast today is James Wallman, author of the groundbreaking book Stuffocation: Living More With Less.

Stuffocation is one of those rare books that makes a lasting impact, is regularly re-read, and I'm pleased to gift to my friends.

James is a journalist, trend forecaster, speaker, and author.

He has written for GQ, the New York Times, the FT, and advised clients such as Absolut, BMW, Burberry, and Nike. James wrote the futurology column in T3 magazine and was editor of The Future Laboratory's forecasting publication.

In Stuffocation, James shares intriguing insights on psychology, economics and culture, resulting in a vital manifesto for change.

The book has inspired those who have read it to be happier and healthier, and to live more, with less.

In today’s episode of Informed Choice Radio, I speak to James about defining Stuffocation, the mental and physical health consequences of having too much stuff, some of the barriers preventing people from experientialism, buying things to facilitate experiences, whether the tide is turning for consumerism, and much more.

Welcome to Stuffocation with James Wallman, in episode 165 of Informed Choice Radio.

Some questions I ask:

-How would you define Stuffocation?

-What was the inspiration behind writing this book?

-Are there mental and physical health consequences from having too much stuff?

-What are some of the main barriers preventing people from experientialism?

-Is the tide turning for consumerism?

-What are some of the future trends that most excite you?

Useful links mentioned in this episode:

-Stuffocation: Living More With Less by James Wallman

-James on Twitter

-The Future Is Here

Thank you for listening!

To get new episodes of Informed Choice Radio sent directly to your device as soon as they are published, you can subscribe on iTunes or Stitcher

Your reviews on iTunes are incredibly helpful and really appreciated. We get notified about each one; please leave a note of your name and website URL so we can mention you in a future episode.

Direct download: ICR165_James_Wallman_Stuffocation.mp3
Category:investing -- posted at: 1:30am UTC

I’m a parent to three wonderful children.

As all three grow up, we are very aware of the importance of teaching them about money.

There’s slightly more pressure on me to do a great job at this, as a parent and a Financial Planner!

In this episode of Informed Choice Radio, I share 10 important money lessons to teach your kids.

This covers budgeting, delayed gratification, making choices, and much more.

To get you started, click here for the comprehensive checklist of all 10 lessons and some valuable notes (it’s FREE!). Get my detailed checklist here!

Click here to download the free PDF

Personal finance news update

-Tens of thousands of grandparents could be missing out on National Insurance credits worth £231 a year when they retire.

-House price inflation is on the rise, at 6.7% for the year to the end of November.

-Lenders have reported a growing number of borrowers who are facing difficulties repaying loans and overdrafts at the end of last year.

-Rich Kids of Instagram wannabes are taking advantage of credit and rented schemes to replicate lavish lifestyles portrayed on social media, according to new research.

-Over a third of Brits are worried about falling victim to fraud, according to new research.

Aftershow links

Confidently Speaking

Jigsaw 10k

Too Much of a Good Thing: How Four Key Survival Traits Are Now Killing Us by Lee Goldman

Get answers to your personal finance questions

Do you have a personal finance or investing question for Martin?

Email martin@icfp.co.uk or ask on Twitter @martinbamford.

You can call our dedicated podcast voicemail line on 020 8144 2745 with your question or visit www.icradio.co.uk/voicemail to leave an online voice message.

Help us spread the word!

Thank you for listening to this episode of Informed Choice Radio. Please use the comments section below to share any feedback you have.

If you enjoyed this episode, please share it by using the social media buttons on this page.

If you enjoy the show, please subscribe in iTunes and write us a review! Reviews really help us stand out from the crowd and reach more listeners.

Latest iTunes reviews

“Business podcasts are often an amateurish sideline, but this is a notable exception. Clearly a labour of love for Bamford, who never does anything by halves, Informed Choice Radio stands apart through a combination of slick production, high-quality guests and incisive questioning. A top-drawer podcast.” – Brian Walters

“Picked this up with the Dan Hannan interview and took it from there. Currently back-listening to the last few. Very clear and easy to listen to. Keep them coming please.” – tomt_techman

 

Direct download: CR164_10_Most_Important_Money_Lessons_for_Your_Kids.mp3
Category:investing -- posted at: 1:30am UTC

My guest on the podcast today is Professor Tim Jackson, author of Prosperity without Growth.

Tim is Professor of Sustainable Development at the University of Surrey. He's also a Director of the Centre for the Understanding of Sustainable Prosperity (CUSP). His 2010 TED Talk, An economic reality check, has been watched more than a million times.

Tim has been at the forefront of international debates about sustainable development for over two decades. He's worked closely with the UK Government, the United Nations, and numerous private companies and NGOs to bring social science research into sustainability.  His research interests focus on the economic and social aspects of the relationship between people’s lifestyles and the environment.

Tim's landmark work is the book Prosperity without Growth: Foundations for the Economy of Tomorrow, first published in 2009.  Tim's piercing challenge to conventional economics openly questioned the most highly-prized goal of politicians and economists alike: the continued pursuit of exponential economic growth. His findings provoked controversy, inspired debate and led to a new wave of research building on its arguments and conclusions.

A new edition of Prosperity without Growth was published last month, at a launch to coincide with Professor Jackson's appointment as a 2016 Hillary Laureate.

In today's episode of Informed Choice Radio, I speak to Tim about what sparked his interest in sustainability, why our current model of economic success is so flawed, the dilemma of growth (to trash the planet or crash the system), whether technology is the solution to all of our problems, how humanity can flourish with sustainability, the right measure of success, and much more.

Welcome to Prosperity without Growth with Tim Jackson, in episode 163 of Informed Choice Radio.

Some questions I ask:

-What first sparked your interest in sustainability?

-Why is our current model of economic success so flawed?

-Is there a compromise in the battle between economic and ecology?

-What choice is offered by the dilemma of growth; trash the planet or crash the system?

-Will technology ever catch up and offer solutions to finite resources?

-How can humanity flourish?

-Is the way in which we measure economic success part of the problem?

-Can a solution can from evolution, or is a revolution required?

-Does change need government backing or will a grassroots movement be enough?

Useful links mentioned in this episode:

-Centre for the Understanding of Sustainable Prosperity

-Prosperity without Growth: Foundations for the Economy of Tomorrow by Professor Tim Jackson

-Tim Jackson on Twitter

Thank you for listening!

To get new episodes of Informed Choice Radio sent directly to your device as soon as they are published, you can subscribe on iTunes or Stitcher

Your reviews on iTunes are incredibly helpful and really appreciated. We get notified about each one; please leave a note of your name and website URL so we can mention you in a future episode.

Direct download: ICR163_Professor_Tim_Jackson_Prosperity_without_Growth.mp3
Category:investing -- posted at: 2:00am UTC

I've got a confession to make. On Thursday 23rd June 2016, I visited the polling station and, like every other adult in this country, answered a question; Should the United Kingdom remain a member of the European Union or leave the European Union? And like the majority of others who voted in this referendum, I voted to leave.

I wasn't always in the leave camp. In the months leading up to referendum day, I devoted a huge amount of time to reading, debating and doing my best to understand the issues. As part of Cranleigh Chamber of Commerce, I helped to arrange and host two panel debates on the subject. I also attended a panel debate hosted by on of my professional bodies, the Chartered Institute for Securities & Investment.

The more I learnt about the European Union, the more I swayed towards Leave. The biggest single factor in making up my mind was reading Why Vote Leave by my guest on the podcast today, Daniel Hannan.

Dan Hannan is a writer and journalist.  After 17 years as a Member of the European Parliament, campaigning for British withdrawal from the EU, he succeeded in abolishing his job in the Brexit referendum on 23 June 2016.

He is the author of nine books, including New York Times bestseller 'Inventing Freedom: How the English-Speaking Peoples Made the Modern World', and Sunday Times bestseller 'Why Vote Leave'.

His latest book, and the subject of our conversation today, is 'What Next: How to get the best from Brexit'.

In today’s episode of Informed Choice Radio, I speak to Dan about why the experts got it wrong, how we should aim to have freest possible trade with our European allies, understanding the difference between a free trade area and a customs union, why the Prime Minister would be crazy to share her negotiating strategy, whether we are still on track to trigger Article 50 by the end of March, and much more.

Welcome to What Next for Brexit? With Daniel Hannan, in episode 162 of Informed Choice Radio.

Some questions I ask:

-Did you originally become an MEP with the goal of the UK leaving the EU?

-Why did all of the experts get it so wrong?

-How can we get the best deal from Brexit?

-What's the difference between a free trade area and a customs union?

-Does Theresa May have a plan for Brexit?

-Where does the balance of power lie in the upcoming negotiations?

-Will Brexit be a smooth ride?

-How long is the uncertainty over Brexit likely to continue shaking investment markets?

-Are we still on track to trigger Article 50 by the end of March?

-What's your one concern about how we might get Brexit wrong?

Useful links mentioned in this episode:

-Dan on Twitter

-What Next: How to get the best from Brexit

Thank you for listening!

To get new episodes of Informed Choice Radio sent directly to your device as soon as they are published, you can subscribe on iTunes or Stitcher

Your reviews on iTunes are incredibly helpful and really appreciated. We get notified about each one; please leave a note of your name and website URL so we can mention you in a future episode.

 

Direct download: ICR162_Daniel_Hannan_What_Next_for_Brexit.mp3
Category:investing -- posted at: 2:00am UTC

Today on the podcast, I'm sharing some thoughts on How To Make More Money By Doing Less.

One of my personal goals for 2017 is to do less. This isn't about being lazy, but wanting to make more of my time.

After all, we all have finite time and it’s so easy to fill with ‘being busy’.

So I gave some thought to how we might make more of our wealth by doing less. Here are some ideas.

To get you started, click here for the comprehensive checklist of all 5 points and some valuable notes (it’s FREE!). Get my detailed checklist here!

Personal finance news update

-The spending power of the average UK household rose by nearly £600 in the last financial year. Disposable income for the typical UK household rose to £26,332 after taxes, according to the ONS.

-The price of petrol and diesel in the UK has risen to its highest since July 2015. This follows a three-pence-a-litre increase during December.

-Younger generations are due to inherit more than their predecessors, but with greater inheritance inequality. New research by the Institute for Fiscal Studies found the wealth of older generations has risen by an average of 45% over the past ten years.

-New research from Gocompare has found that, on average, people now manage over 30 accounts across all aspects of their lives. These range from online banking and shopping, to gym memberships and subscriptions for home entertainment.

-Millions of credit card holders face a New Year financial hangover because they aren’t clued up about their credit card. The new research from MoneySuperMarket reveals two thirds of credit card holders don’t keep a close eye on how much they spend on credit and only check their statement at least once a month.

Get answers to your personal finance questions

Do you have a personal finance or investing question for Martin?

Email martin@icfp.co.uk or ask on Twitter @martinbamford.

You can call our dedicated podcast voicemail line on 020 8144 2745 with your question or visit www.icradio.co.uk/voicemail to leave an online voice message.

Help us spread the word!

Thank you for listening to this episode of Informed Choice Radio. Please use the comments section below to share any feedback you have.

If you enjoyed this episode, please share it by using the social media buttons on this page.

If you enjoy the show, please subscribe in iTunes and write us a review! Reviews really help us stand out from the crowd and reach more listeners.

Direct download: ICR161_How_To_Make_More_Money_By_Doing_Less-MP3_for_Audio_Podcasting.mp3
Category:investing -- posted at: 1:30am UTC

Are you part of Generation Cherry? This is the generation who benefited from free education and abundant employment opportunities, often with a gold-plated final salary pension too. They could afford to buy houses, but today find themselves asset rich and cash poor.

My guest for this episode of Informed Choice Radio is Tim Drake, author of the new book Generation Cherry.

Generation Cherry has been described as a toolkit for the new era. It’s full of practical steps for avoiding “retirement” and the grey slide towards death.

In the book, Tim explains why it’s so important to develop a fresh outlook on life. He details how to rethink our priorities, recognise our blessings, and take advantage of today’s new work landscape, rather than feeling trapped by it.

At its centre is an understanding that to live a life of meaning, variety and fulfilment, we need to take responsibility for how we think, feel, and act as individuals. We must build a grounded self-confidence – something that’s possibly wobbling at this point.

Generation Cherry will guide you through embracing Enlightened Thrift, something I discuss with Tim in this conversation.

In this episode of Informed Choice Radio, I speak to Tim about the key challenges faced by Generation Cherry today, steps we can take to regain conscious control, why longevity is a really positive development, not the bad news story portrayed by the press, and much more.

Welcome to Generation Cherry with Tim Drake, in episode 160 of Informed Choice Radio.

Some questions I ask:

-How do we define Generation Cherry? Is this the same cohort as the Baby Boomers?

-Can you describe the concept of enlightened thrift?

-What are some of the key challenges faced by Generation Cherry?

-How can people in this generation take positive, conscious control?

-Do you place an equal weight on each of the four autonomies?

-Why is improved longevity so often framed in such a negative light?

Useful links mentioned in this episode

Generation Cherry on Amazon

Tim Drake’s website

Tim on Twitter

Thank you for listening!

To get new episodes of Informed Choice Radio sent directly to your device as soon as they are published, you can subscribe on iTunes or Stitcher

Your reviews on iTunes are incredibly helpful and really appreciated. We get notified about each one; please leave a note of your name and website URL so we can mention you in a future episode.

Direct download: ICR160_Tim_Drake_Generation_Cherry.mp3
Category:investing -- posted at: 1:30am UTC

My guest for this episode of Informed Choice Radio is Sophie Robson.

Sophie is a consultant at MRM Communications, part of a multi-disciplined public relations consultancy in London. They provide award-winning communications solutions for companies, organisations and individuals operating in and around the financial services sector.

Sophie is author of MRM’s annual Young Money Report. We chat today about the fourth edition of this report, titled “Generation Austerity: Brexit and Beyond.”

The report examines the attitudes to finance of 1,00 18 to 25 year olds who have grown up in the dark shadow of austerity.

The study considers the views of young people on a range of topics including pensions and benefits, advice and access, saving and spending, and investing and the economy. It also features contributions from key industry experts across the financial services sector.

In this episode of Informed Choice Radio, I speak to Sophie about why this generation is known as Generation Austerity, how disengagement extends from voting apathy to personal finances, some of the financial barriers faced by Generation A, and what the research means for the future of financial services.

Welcome to Generation Austerity: Brexit and Beyond with Sophie Robson, in episode 159 of Informed Choice Radio.

Some questions I ask:

-Why are we calling this Generation Austerity?

-How is disengagement with politics linked to a lack of engagement with personal finances?

-What are some of the financial barriers faced by this generation?

-Did you discover anything about access to financial advice for younger people?

-What are the retirement ambitions for Generation A?

Useful links mentioned in this episode

Young Money Report

MRM London

Sophie on Twitter

Thank you for listening!

To get new episodes of Informed Choice Radio sent directly to your device as soon as they are published, you can subscribe on iTunes or Stitcher

Your reviews on iTunes are incredibly helpful and really appreciated. We get notified about each one; please leave a note of your name and website URL so we can mention you in a future episode.

Direct download: ICR159_Sophie_Robson_Generation_Austerity_Brexit_and_Beyond.mp3
Category:investing -- posted at: 1:30am UTC

As we head into a New Year, it’s important to revisit our relationship with money.

What I’ll share with you in this episode isn’t personal finance or investment tips, but a series of 7 questions you need to ask yourself to change your relationship with money.

Set aside some time to ask each of these, with your spouse or partner if necessary, and consider how your relationship with money could improve as a result of better understanding of each of these areas.

To get you started with this important exercise, click here for the comprehensive checklist of all 7 questions and some valuable notes (it’s FREE!). Get my detailed checklist here!

Click here to get the checklist

Useful links mentioned in this episode

The Seven Stages of Money Maturity: Understanding the Spirit and Value of Money in Your Life by George Kinder

Meaningful Money Podcast

The Financial Wellbeing Podcast

The Number: What Do You Need for the Rest of Your Life, and What Will It Cost? by Lee Eisenberg

The One-Page Financial Plan: A Simple Way To Be Smart About Your Money by Carl Richards

The Financial Wellbeing Book by Chris Budd

Money Life Live

Personal finance news update

-The top paid executives had earned more by Wednesday this week than typical workers earn in an entire year. Dubbed ‘Fat Cat Wednesday’ in the press, the High Pay Centre think tank said it was an important reminder of the unfair pay gap in the UK.

-Levels of household debt have risen to the highest level since the global financial crash of 2008, according to the latest official figures. The Bank of England data has shown personal debt rising by 10.8% in the year to 30th November 2016, rising to £192.2bn.

-The government has claimed that thousands of homes for first-time buyers will be built this year. 30 different areas in England are due to receive funding from the £1.2bn “Starter Homes Land Fund” for new property developments on brownfield sites.

-More than a million over-45s have fallen victim to email scams, according to Aviva’s latest Real Retirement Report. The report also also highlights that the experience of being targeted via email is 22% more common among this age group than by phone.

-MoneySuperMarket’s annual insight into the nation’s financial stress levels shows over 11 million people cite daily money worries as their main cause of stress.

Aftershow links

Misbehaving: The Making of Behavioural Economics by Richard H Thaler & my book review

Ego is the Enemy: The Fight to Master Our Greatest Opponent by Ryan Holiday

Cranleigh BIG Awards 2017

Get answers to your personal finance questions

Do you have a personal finance or investing question for Martin?

Email martin@icfp.co.uk or ask on Twitter @martinbamford.

You can call our dedicated podcast voicemail line on 020 8144 2745 with your question or visit www.icradio.co.uk/voicemail to leave an online voice message.

Help us spread the word!

Thank you for listening to this episode of Informed Choice Radio. Please use the comments section below to share any feedback you have.

If you enjoyed this episode, please share it by using the social media buttons on this page.

If you enjoy the show, please subscribe in iTunes and write us a review! Reviews really help us stand out from the crowd and reach more listeners.

 

Direct download: ICR158_7_questions_to_change_your_relationship_with_money_in_2017.mp3
Category:investing -- posted at: 1:30am UTC

My guest for this episode of Informed Choice Radio is Maria Nedeva.

Maria is the founder and blogger behind The Money Principle.

As you will hear in this interview, back in 2009 Maria and her husband discovered they had £100,000 in consumer debt, accumulated through a combination of the global financial crisis, reduction of income, financial ignorance and an absolute refusal to engage in sound money management practices.

Maria had reached a crisis point but, and this is the reason her story is so compelling, managed to turn it all around. In three years, they had repaid all of the consumer debt. A couple of years later, and they have saved a sizable pot of money for the future.

As well as being a money blogger, Maris is a Professor at a well-respected business school. She has a PhD, teaches creativity and innovation, and talks to Prime Ministers about wise ways to spent their country’s money on science.

In this episode of Informed Choice Radio, I speak to Maria about her incredible journey into and out of debt, why you have to reach a crisis point in order to take control, the difference between an emergency fund and a freedom fund, how frugality sucks but frugalartisty works, and much more.

Welcome to Money Principle with Maria Nedeva, in episode 157 of Informed Choice Radio.

Some questions I ask

-How did you get into £100,000 of consumer debt?

-Was being a Professor at a business school helpful in understand how to get out of debt quickly? 

-Was being in so much debt the wakeup call you needed?

-What makes the biggest difference when repaying debt; cutting expenditure or increasing income?

-What's the balance between debt repayment (frugality) and satisfaction with your life?

-Can you explain to our listeners what you call the game of wealth?

Useful links mentioned in this episode

-Maria on Twitter

-The Money Principle website

Thank you for listening!

To get new episodes of Informed Choice Radio sent directly to your device as soon as they are published, you can subscribe on iTunes or Stitcher

Your reviews on iTunes are incredibly helpful and really appreciated. We get notified about each one; please leave a note of your name and website URL so we can mention you in a future episode.

 

Direct download: ICR157_Maria_Nedeva_Money_Principle.mp3
Category:investing -- posted at: 1:30am UTC

Have you set your goals and made resolutions for 2017 yet?

In this episode of Informed Choice Radio, I share the process I use to establish goals and give them the best possible chance of succeeding.

This involves reflecting on 2016, establishing goals for 2017, and using some techniques to make those goals ‘stick’ during the next twelve months.

Useful links

Reflecting on 2016

Books read in 2016

Chris Guillebeau annual review process

Setting goals for 2017

Get answers to your personal finance questions

Do you have a personal finance or investing question for Martin?

Email martin@icfp.co.uk or ask on Twitter @martinbamford.

You can call our dedicated podcast voicemail line on 020 8144 2745 with your question or visit www.icradio.co.uk/voicemail to leave an online voice message.

Help us spread the word!

Thank you for listening to this episode of Informed Choice Radio. Please use the comments section below to share any feedback you have.

If you enjoyed this episode, please share it by using the social media buttons on this page.

If you enjoy the show, please subscribe in iTunes and write us a review! Reviews really help us stand out from the crowd and reach more listeners.

Direct download: ICR156_Setting_goals_for_2017.mp3
Category:investing -- posted at: 1:30am UTC