Informed Choice Radio - financial peace of mind with Martin Bamford

What happened when a financial journalist Googled ‘getting rid of stuff’ and decided to spend twelve months buying nothing?

In this episode of Informed Choice Radio, I speak to the personal finance journalist Michelle McGagh.

Six months ago, Michelle embarked on a personal challenge to dramatically reduce her spending and buy nothing other than the essentials.

In this interview, we talk about what inspired this challenge, the consequences of stepping out of the consumer rat race, and how Michelle reduced the number of her possessions by 80%.

Welcome to the year of buying nothing with Michelle McGagh, in episode 085 of Informed Choice Radio.

You can get in touch with Michelle on Twitter @mmcgagh

Some questions I ask

-What inspired such a dramatic lifestyle choice? (05:09)

-What's it like living with someone who is free to spend money on anything, when you've chosen not to spend? (10:04)

-Do you risk becoming a bit of a hermit, when you're not spending money on going out? (12:36)

-Have you ever come close to breaking your spending rules? (13:24)

-What's the plan for all of the money you have saved during this challenge? (15:28)

-What happens at the end of the year? Have you planned an epic shopping trip? (16:10)

Useful links mentioned in this episode

-Buy Nothing Day

-Stuffocation: Living More With Less by James Wallman

-The Minimalists Podcast

-Skint London

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Martin and Informed Choice

Martin Bamford is a Chartered Financial Planner, Chartered Wealth Manager and SOLLA Accredited Later Life Adviser. As Managing Director of Informed Choice, the award-winning firm of Chartered Financial Planners in Surrey, he is responsible for nearly £200m of client assets.

Martin is the author of several bestselling personal finance books and produced his first feature-length documentary in 2014, about the post-war Baby Boomer generation in retirement.

“Bamford excels at making even the dullest topics interesting” – Pensions Management

Visit www.icfp.co.uk to find out more about Informed Choice, or follow us on Twitter at www.twitter.com/informedchoice

 

Direct download: ICR085_Michelle_McGagh.mp3
Category:investing -- posted at: 2:00am UTC