Anna from @pandabossanna joined me on this episode to talk about passive income streams and side hustles.

Building up passive income streams, whether that's through investing or a side hustle, is a goal that many people have so that they can be 'free' from working a 9-5 job.

We started off the podcast by defining passive income and how it compares to active income. Anna and I also touched on the reality of building passive income streams in that they require a lot of upfront work by us which is why it's important to think long term.

We then segwayed into talking about side hustles and how starting a side hustle in something you're interested in is a great way to build up passive income streams as we can monetise through ad revenue, affiliate schemes, and more.

Listen to the episode for the full details! 

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More investing:

📝 Download my free investing guide to help you start investing - https://www.makingmoneysimple.co.uk/Free-Investing-Guide

📕 Get my book Stop Waiting, Start Investing (available as a physical, digital and audiobook) - https://www.makingmoneysimple.co.uk/swsi-book

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⚠️ Disclaimers: I am not a financial advisor and this does not represent financial advice, it is for entertainment purposes only. Please seek professional advice to get the best information for your personal situation. When investing, your capital is at risk and you may get back less than invested. Past performance does not guarantee future results.

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📥 Get in touch: https://www.makingmoneysimple.co.uk/contact

Laura joins me on the podcast to discuss how she saved £15,000 and then £25,000, before taking the plunge to making her first investment in 2020. 

Many people are in a similar position where they are able to save money but struggle to get started investing, whether that's out of fear or out of procrastination, or a bit of both.

In this episode we talk through Laura's journey of how she managed to save huge sums of money even on a relatively low salary. We then discuss how she started to educate herself on investing before making her first investment. As well as finishing the episode by touching on how she feels now that she is an investor and whether she plans to keep investing going forward. 

Listen to the podcast for more details!

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More investing:

📝 Download my free investing guide to help you start investing - https://www.makingmoneysimple.co.uk/Free-Investing-Guide

📕 Get my book Stop Waiting, Start Investing (available as a physical, digital and audiobook) - https://www.makingmoneysimple.co.uk/swsi-book

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⚠️ Disclaimers: I am not a financial advisor and this does not represent financial advice, it is for entertainment purposes only. Please seek professional advice to get the best information for your personal situation. When investing, your capital is at risk and you may get back less than invested. Past performance does not guarantee future results.

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📥 Get in touch: https://www.makingmoneysimple.co.uk/contact

Timi from @mrmoneyjar becomes the first person to make his second appearance on The Making Money Simple Podcast to discuss all things index funds.

Timi starts us off with the basics and breaks down exactly what index funds are, before we move onto discussing the pros and cons of using index funds when investing.

Ultimately, index funds 'track the market' and are low cost in comparison to active funds that try to 'beat the market' and are higher fee.

Aside from this pro, other pros include that index funds are very passive and hands-off investments with the goal being to buy consistently, and buy and hold for the long term, to one day live off of our investments. 

We move onto discuss index funds vs active funds in more detail, drawing on Jack Bogle's wisdom from The Little Book of Common Sense Investing which showed that over a 45+ year period 80% of active funds didn't only not beat the market... they no longer existed. 

Listen to the full episode as we discuss index funds and active funds in detail and explain why index funds are the easiest, and arguably the best, way to invest for the long term.

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More investing:

📝 Download my free investing guide to help you start investing - https://www.makingmoneysimple.co.uk/Free-Investing-Guide

📕 Get my book Stop Waiting, Start Investing (available as a physical, digital and audiobook) - https://www.makingmoneysimple.co.uk/swsi-book

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⚠️ Disclaimers: I am not a financial advisor and this does not represent financial advice, it is for entertainment purposes only. Please seek professional advice to get the best information for your personal situation. When investing, your capital is at risk and you may get back less than invested. Past performance does not guarantee future results.

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📥 Get in touch: https://www.makingmoneysimple.co.uk/contact

Mr Avo joined me on this episode of The Making Money Simple Podcast to discuss money discipline.

The conversation was free flowing and we discussed a range of topics, from opportunity cost, to instant vs delayed gratification, to lifestyle inflation, to how to set yourself up for success on payday.

In particular, we talked about frugality and how it is important to strike a disciplined balance. Whilst having an avocado toast on the weekend won't be too detrimental to your wealth building journey, daily expenditures can certainly rack up over the course of the year.

It's important to strike a healthy balance between treating yourself but also investing for the future. As ultimately the goal of investing is to one day build up your 'nest egg' to a point where you can do whatever you like on a daily basis.

Listen to the full episode for more details.

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More investing:

📝 Download my free investing guide to help you start investing - https://www.makingmoneysimple.co.uk/Free-Investing-Guide

📕 Get my book Stop Waiting, Start Investing (available as a physical, digital and audiobook) - https://www.makingmoneysimple.co.uk/swsi-book

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⚠️ Disclaimers: I am not a financial advisor and this does not represent financial advice, it is for entertainment purposes only. Please seek professional advice to get the best information for your personal situation. When investing, your capital is at risk and you may get back less than invested. Past performance does not guarantee future results.

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📥 Get in touch: https://www.makingmoneysimple.co.uk/contact

In this 15 minute episode I break down everything you need to know about ISAs. ISAs are the best way to grow your money as all of the gains are tax-free!

The things covered in this episode include:

- The basics - what are ISAs, how they work, the £20k annual allowance and how this works

- 4 types of ISA - Cash, Innovative, Stocks & Shares, Lifetime

- I look at S&S ISAs and Lifetime ISAs in more detail, including the different approaches to S&S ISAs and which Lifetime ISA is best for your situation

- How many ISAs you can contribute to each year

- 2 ways to switch your ISA

- ISAs vs Pensions

- And a lot more

Listen to the entire episode to up your ISA knowledge!

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More investing:

📝 Download my free investing guide to help you start investing - https://www.makingmoneysimple.co.uk/Free-Investing-Guide

📕 Get my book Stop Waiting, Start Investing (available as a physical, digital and audiobook) - https://www.makingmoneysimple.co.uk/swsi-book

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⚠️ Disclaimers: I am not a financial advisor and this does not represent financial advice, it is for entertainment purposes only. Please seek professional advice to get the best information for your personal situation. When investing, your capital is at risk and you may get back less than invested. Past performance does not guarantee future results.

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📥 Get in touch: https://www.makingmoneysimple.co.uk/contact

Oli joined me on this podcast episode to draw comparisons between the UK and Australian financial systems.

I asked Oli a range of questions from taxes to investing to property, to see how the financial system works in practice in Australia.

First, we discussed the tax efficient account that you can use in Australia - the superannuation - and then drew comparisons to how this is similar to what we have in the UK in pensions and ISA's.

We then moved on to discuss the tax system in Australia, specifically income tax and capital gains tax (which doesn't exist!). When it comes to income tax both the UK and Australia have similar approaches.

We also touched on financial education in schools in Australia, or the lack of, and then finished by with a discussion on the housing market and getting on the property ladder in Australia. 

Through our twenty minute chat Oli and I discovered that the UK and Australia were more familiar than we thought.

Listen to the podcast episode to hear all of the details!

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More investing:

📝 Download my free investing guide to help you start investing - https://www.makingmoneysimple.co.uk/Free-Investing-Guide

📕 Get my book Stop Waiting, Start Investing (available as a physical, digital and audiobook) - https://www.makingmoneysimple.co.uk/swsi-book

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⚠️ Disclaimers: I am not a financial advisor and this does not represent financial advice, it is for entertainment purposes only. Please seek professional advice to get the best information for your personal situation. When investing, your capital is at risk and you may get back less than invested. Past performance does not guarantee future results.

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📥 Get in touch: https://www.makingmoneysimple.co.uk/contact

Katie from @thepennymix and I discussed all things income protection in this podcast episode.

This is a product that I had absolutely no knowledge on, so I spent twenty minutes firing questions at Katie! 

If you also have no knowledge of income protection then this podcast episode is the perfect beginners guide.

Firstly, we discussed what income protection actually is. I mistakenly assumed that it was only necessary for older people, however Katie made it clear that income protection is important no matter what age you are as we never know what could happen. 

We then moved onto talk about how it works in practice, when a claim would begin and then stop, whether a claim would affect your premium going forward, as well as the fees/premiums that would be involved in an income protection policy. I then asked Katie about the providers that offer income protection and how the fees/premiums differ between small and large providers. 

Katie shared some crazy stats - one being that the average claim is seven years!

Listen to the full podcast episode to increase your education on income protection. 

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More investing:

📝 Download my free investing guide to help you start investing - https://www.makingmoneysimple.co.uk/Free-Investing-Guide

📕 Get my book Stop Waiting, Start Investing (available as a physical, digital and audiobook) - https://www.makingmoneysimple.co.uk/swsi-book

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⚠️ Disclaimers: I am not a financial advisor and this does not represent financial advice, it is for entertainment purposes only. Please seek professional advice to get the best information for your personal situation. When investing, your capital is at risk and you may get back less than invested. Past performance does not guarantee future results.

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📥 Get in touch: https://www.makingmoneysimple.co.uk/contact

Brennan from @budgetdog and I discussed all things debt in this podcast episode.

We first talked about how Brennan paid off $76k of debt in a single year by being 'intentional'.

We then moved onto talking about debt payoff strategies. The two main strategies being the snowball method and the avalanche method. We agreed that for the majority of people the snowball method is the way to go due to the positive psychology effects of paying off debt.

We then talked about how to have to right mindset to get your debt paid off, with Brennan giving us some specific tips on how you can frame your mindset in the right way to firstly get your debt paid off and then stay debt free.

Finally, we briefly touched on if Brennan is now 'anti-debt' and about the way that people use credit cards to get cashback. 

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More investing:

📝 Download my free investing guide to help you start investing - https://www.makingmoneysimple.co.uk/Free-Investing-Guide

📕 Get my book Stop Waiting, Start Investing (available as a physical, digital and audiobook) - https://www.makingmoneysimple.co.uk/swsi-book

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⚠️ Disclaimers: I am not a financial advisor and this does not represent financial advice, it is for entertainment purposes only. Please seek professional advice to get the best information for your personal situation. When investing, your capital is at risk and you may get back less than invested. Past performance does not guarantee future results.

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📥 Get in touch: https://www.makingmoneysimple.co.uk/contact

The start of the year is the perfect time to look at your personal finances.

In this short episode I will give you four tips on how you can do this. 

These four tips are:

- Set goals

- Open your banking apps

- Track your net worth

- Automate your finances

I delve into each tip in more detail in the podcast.

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More investing:

📝 Download my free investing guide to help you start investing - https://www.makingmoneysimple.co.uk/Free-Investing-Guide

📕 Get my book Stop Waiting, Start Investing (available as a physical, digital and audiobook) - https://www.makingmoneysimple.co.uk/swsi-book

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⚠️ Disclaimers: I am not a financial advisor and this does not represent financial advice, it is for entertainment purposes only. Please seek professional advice to get the best information for your personal situation. When investing, your capital is at risk and you may get back less than invested. Past performance does not guarantee future results.

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📥 Get in touch: https://www.makingmoneysimple.co.uk/contact

Ato from @savvywallet and I discuss getting on the property ladder as a first time buyer

We talked about the two key elements - the mortgage and the deposit.

For both the mortgage and the deposit the best thing you can do is to increase your income. This means you can get a larger mortgage and also save quicker for the deposit. Throughout the podcast we also share other tips such as budgeting and buying your first house with someone else.

We also go through the Help To Buy ISA and Lifetime ISA and talk about which government scheme is better.

As well as ending on talking about gifted deposits, which can be another useful tool to help you get on the property ladder.

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More investing:

📝 Download my free investing guide to help you start investing - https://www.makingmoneysimple.co.uk/Free-Investing-Guide

📕 Get my book Stop Waiting, Start Investing (available as a physical, digital and audiobook) - https://www.makingmoneysimple.co.uk/swsi-book

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⚠️ Disclaimers: I am not a financial advisor and this does not represent financial advice, it is for entertainment purposes only. Please seek professional advice to get the best information for your personal situation. When investing, your capital is at risk and you may get back less than invested. Past performance does not guarantee future results.

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📥 Get in touch: https://www.makingmoneysimple.co.uk/contact