In this episode of the Mind Money Soul podcast, I’m going to be sharing how to avoid a lifestyle creep.

Lifestyle creep is when an individuals standards of living improves as their discretionary income rises and former luxuries become new necessities. The rise in discretionary income can happen either through an increase of income or in a decrease in costs. Essentially this means you have more ‘fun’ money to play with (things that aren’t going towards bills or debt) but instead of keeping the same lifestyle or investing/ saving your extra money, you choose to inflate your lifestyle to meet your pay check. 

Why is this a financial trap? It can totally derail your future plans (including retirement plans or clearing your debt) and prevent you from reaching your big happy goals. The dangerous thing is that it can start really small. You might choose the most expensive thing on the menu, or grab an Uber more than you choose to walk. All of these little purchases that you deem ‘necessities’ will become an integral part of your life. The issue isn’t with living a boujee lifestyle, it’s the fact that you're not putting a financial buffer in place and you’re not going to feel the financial effects of this increase of money. The key lesson is: having more money allows you to get closer to your big happy goal but you have to be intentional with that money. 

In this episode:

• Understanding the term ‘lifestyle creep’
• Why lifestyle creep is a financial trap
• How lifestyle creep starts small and filters up
• How to build wealth by saving and investing
• Why you need  to have a financial buffer
• What wealthy people do to protect and grow their money
• 3 tips on how to avoid lifestyle creep
• The importance of being intentional with your money
• The benefit of automating your finances
• Why you should set long term exciting goals

🎙️ Your host: Laura Ann Moore

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In this episode of the Mind Money Soul podcast, I’m going to be reviving a trend and sharing my financial ins and outs of 2024.

I’m kicking the episode off with positivity and inspiration by diving straight into my top 8 ‘ins’. My list is a real mix, from money dates and investing, to capsule wardrobes and Vinted. The word for 2024 is INTENTION. Are you spending and saving mindfully? Second hand marketplaces like Vinted are an amazing way to practise mindfulness by supporting sustainability, not spending an insane amount of money on fast fashion, and being intentional with your purchases.

I’ll also be sharing my top 6 ‘outs’ including buying things out of habit or impulse. If you can relate to this, the trick is to focus on the root problem, not the consequence. Emotional buying is a by-product of how you’re feeling about yourself, money and life. When you focus on the root cause, you’ll notice that the emotional spending will reduce and over time, stop. Again, it’s all about intention.

In this episode:

• Why you should date your money
• How to identify is you’re spending in alignment
• How to set personal financial goals that excite you
• Mantra: there is more than enough to go around
• The benefit of using a credit card to pay for flights
• How to track your spending with ease
• Why 2024 is the year you learn to invest
• How to create a capsule wardrobe 
• Stop spending money on people you don’t like
• How to stop avoiding your bank account
• How to take control of your finances
• Why you don’t need unnecessary consumption to feel whole
• How to change your relationship with Apple Pay

🎙️ Your host: Laura Ann Moore

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In this episode of the Mind Money Soul podcast, I’m going to be sharing why money dates are the ultimate tool for taking control of your money. 

A money date is the practise of regularly sitting down 1 on 1 with your money, spending time with it and going through all the information to analyse the past week or month, plan ahead for the following month and reflect on your relationship with money. This data will move you to the financial drivers seat, so that your money is no longer the one in control. Like I always say, data is knowledge, and knowledge is power.

You have to treat your money like you would treat a partner in a healthy, loving relationship. If you’re not going on date nights, spending quality time together or  connecting as a couple, you're not going to understand each other and the relationship will break down. It’s exactly the same with money. You need to date your money in order to show your money that you care, respect, love and are interested in it. Going on regular money dates will allow you to feel good about money, build wealth, explore your relationship with money, move closer to your big happy life goals, build financial resilience and improve your confidence. 

In this episode:

• What are money dates?
• Why money dates are so important
• Why you should be having a money date monthly
• Step by step guide on how to conduct a money date
• How to analyse what financially happened last month
• Ways to manage your money and plan ahead for the month
• Journal prompts to improve your relationship with money

🎙️ Your host: Laura Ann Moore

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In this episode of the Mind Money Soul podcast, I’m going to be sharing the 3 financial goals you NEED for 2024 and how to actually achieve them.

2024 in Numerology is an '8' year full of success, achievements and abundance, which is why when you think about your 2024 goals, it’s even more important to have a section focused on finances. Breaking your goals down into categories will allow you to be intentional with your life goals, which many believe is the key for success. 

Remember, we are all in control of our own destiny. We owe it to ourselves to put time and thought into carving out the direction of our year in order to create the life of dreams. This comes with intentionality, mindfulness and planning. So, take note as I share the steps and processes to achieving your financial goals.

In this episode:

• The importance of building an abundance mindset
• New level, new devil: how to work through mindset blocks
• Journal prompts to identify your biggest financial challenge
• 6 methods to change your money mindset
• The best way to create your emergency fund
• The perks of using a spending planner
• How to invest and build wealth in 2024

🎙️ Your host: Laura Ann Moore

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In this episode of the Mind Money Soul podcast, I’m going to be sharing my top 5 mindset shifts to clear your Christmas debt so that you can become debt free in 2024.

Sometimes Christmas can take you by surprise and you spend more than you think. Perhaps you went over budget, ran wild in the Boxing Day sales, spent money to deal with your emotions, or splashed out because ‘fuck it, it’s Christmas!’ You won’t be alone here.

If you’ve hit January in sheer panic and you’re counting down until your next pay check, I’ve got you! This episode is going to touch on the different attitudes and mindsets towards clearing your Christmas debt and how to think about debt moving forwards in order to make 2024 your best financial year yet.

In this episode:

• Why honesty is the best policy when it comes to debt
• How to own and deal with your debt on an emotional level
• Why clearing debt is a form of self care
• How to discover your joy by spending less money
• Power move: the art of delayed gratification 
• Why clearing debt isn’t easy, but is SO worth it

🎙️ Your host: Laura Ann Moore

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In this episode of the Mind Money Soul podcast, I’m going to be sharing 31 powerful money mantras. 

Welcome back to the first episode of 2024. I want this episode to be an episode that you come back to time and time again or whenever you are in need of some financial inspiration and motivation. This episode is one you can play at any time of day, whatever you’re doing. I want you to listen carefully to the words and truly embody them. 

Mantras hold great power. When you change how you think and talk, it starts to change how you feel. When you change how you feel about yourself and money, you'll find that naturally your behaviours begin to change. Why? Because your behaviours align with how you feel. This is the mindset that will help you create the future you deserve and desire. So, let’s make 2024 your best financial year yet.

Mantras include:

• Money comes to me easily and flows to me freely
• I attract abundance and prosperity everyday of my life
• I am a powerful money magnet
• Money comes to me easily and flows to me freely
• I am worthy of having and holding onto money
• I deserve to build wealth
• I am financially free

🎙️ Your host: Laura Ann Moore

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In this episode of the Mind Money Soul podcast, I’m going to be sharing the pros and cons of consolidating your pensions.

Every time you start a new job, you get enrolled into a new workplace pension. This means if you’ve changed your job multiple times, you’ll have pensions all over the place. In the UK there are nearly 20 billion pounds of unclaimed and lost pension pots! It’s really important that you avoid becoming part of this statistic by ensuring you have full visibility of your pensions. If you need help, you can use the free pension tracing service to track all of your pensions from different providers.

This is an incredibly nuanced topic, largely because there are so many different pension providers that offer different features, benefits and fees, and everyone is a bespoke combination of all of these things. If you’re interested, this is something I’d recommend chatting with a financial advisor who can ensure you’re making the most out of your pensions.  

In this episode:

• How to have full visibility and keep track of how your pensions are performing
• How to reduce paperwork and admin by consolidating your pensions
• Ways to save money on management and admin fees
• Why consolidating your pensions will provide greater options for investment 
• 4 reasons why you might choose to not combine your pensions
• 5 things to consider before consolidating your pensions
• Key takeaways and recap of the 4 part pension series

🎙️ Your host: Laura Ann Moore

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In this episode of the Mind Money Soul podcast, I’m going to be answering the rather large question of “how much should I be saving for my retirement?”. 

The short answer is, there’s no right or wrong way and it’s going to look different for everyone. Some financial experts offer a formula to help you calculate your pension which is handy, however I believe in order to work out how much you need to put away, you need to know what you’re working towards. How much do you actually want to retire on and what type of lifestyle do you want? Getting clear on these questions will help you understand how this transposes into financial habits in the now.

Remember, you do not have to get an exact amount - it can ebb and flow. Understanding pensions and having an idea of what retirement looks like for you is going to help you know if you’re on track. You can then work backwards and reverse calculate how much you should be saving or investing each month based on your ideal retirement and goal.

In this episode:

• A formula financial experts use to work out your pension
• How to reverse calculate how much you need in your pension 
• What RLS recommend as an annual retirement income
• How to work out your pension gap
• Ways to reach your retirement fund target
• What to do if you currently have £0 in your pension pot

🎙️ Your host: Laura Ann Moore

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In this episode of the Mind Money Soul podcast, I’m going to be sharing the benefits and the downfalls of different pension products, the other ways you can prepare for retirement and I’ll be comparing pensions vs. ISA’s. 

This is part 2 of the pension series and today I’m going to be answering the question “should I be saving money in a pension or an ISA?”. Remember, pensions are just one way that you can prepare for retirement - business, property and investment are the 3 main alternatives. It’s normal to feel overwhelmed and confused by your options, however when you understand the pros and cons, rules and features of each product, it will help you make a decision that is right for you. Remember, knowledge fuels power and allows you to make educated choices with confidence.

Ultimately, there is no right or wrong way on how to prepare for retirement and it’s going to look different for everyone. It’s about getting clear on when you want to retire, how much you want for retirement and understanding what option/s will work best for you. 

In this episode:

• Alternative ways to prepare for retirement
• A breakdown of the different types of ISA’s
• How you can withdraw money from a pension
• Pros and cons of paying into a pension
• The basics of tax relief explained
• Investing into a pension vs. the stock market

🎙️ Your host: Laura Ann Moore

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In this episode of the Mind Money Soul podcast, I’m going to be sharing the basics of pensions; why we need a pension, what they are and a breakdown of the different types. 

This is the first of a 4 part series on pensions, starting with an introduction to pensions. To put it simply, a pension is a tax-efficient way of saving money for your retirement. In the UK we have the state pension age and the average retirement age - they are two different things which often get muddled up and technically you can retire whenever you want!

Having a pension is just one way that you can fund your retirement, you can have other income streams (just like how having a salary is one of the many ways of making money). For most people, your retirement income is going to come from 3 main sources; state pension, personal and/or workplace pension, and other forms of income such as property and investments. With all pension schemes, your money is being invested on the stock market into pension funds. If you understand investing and how the stock market works, you will feel so much more confident in how you are building wealth over time for your retirement. 

In this episode:

• Why you need a pension to survive and fund life
• What retirement actually means 
• The state pension age vs. retirement age
• Pension 101: what is a pension?
• The different types of pensions 
• Understanding state, workplace and personal pensions
• How much you can pay into your pension

🎙️ Your host: Laura Ann Moore

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