Fempire Finance makes finance and money FUN and FEMININE. Typically with finance, you picture a middle aged man with a briefcase; whereas on Fempire Finance, you see Sex & The City memes.

We talk all about how you can actually save money during lockdown as a result of working from home, as there's no urge to buy workwear clothes, no commuting costs, no £3 daily coffees, and no urge to buy overpriced lunches.

Maya recommends if you've been furloughed or if your business has dried up to remember that this is only temporary, and there are always alternative ways to make money, especially online.

She also recommends to look at all the support options you've got, such as a mortgage holiday.

It's also important to view this as an opportunity where/if you can to work ON your business, as opposed to IN your business. As we've never been given this opportunity before, and probably will never be given it again.

It's also important to not pay off your debts now or make any rash decisions at this time; most payments can wait as companies are here to support us.

Saving strategies:

- Round up your purposes, e.g. if you spend £8, put the remaining £2 in your savings jar, and banks like Monzo can do this automatically for you.
- Or, whenever you go to the gym or workout at home in this case, or even do some chores, put a certain amount of money in your savings jar. This will motivate you to not only do the task, but save too, so it's a win win!
- Have saving competitions with your partner, friend, or relative, which makes saving so much more fun! Make the forfeit really bad so you'll do anything to not lose😉

Good debt vs. bad debt

Good debt is a investment into your financial future and should leave you better off in the long run, such as investing in your business. Sometimes a good debt might not repay financially, but repay in your mindset, which to me is far more valuable. I've found this through investing in coaches.

Bad debt is likely to make your financial situation worse in the long run, such as payday loans or luxury holidays.

How to prevent impulse buying:

- Shop with a list.
- Shop with physical cash, not your bank card.
- Think about what you already have.
- Set alerts every time you spend.
- Unsubscribe from store newsletters to take control of your money. I actually did this last year and didn't buy any clothes for the whole year, just from charity shops, which helped not only my bank account, but the planet too!
- Only shop with a clear head, that involves food shopping when you're hungry by the way😉.
- Don't buy something just for the saving if you don't actually need it! So it's best to avoid those reduced aisles or sale/reduction pages!
- Refrain from multi-packs or multi-buys if you don't actually need that much of one item.

I hope you enjoy the episode and let me know your feedback or if you have any questions!

P.S. when you're ready, book in a FREE 1:1 coaching session with me to see if I can help you with any problems you're facing right now.