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Frederick shares his best piece of money advice for Talk Money Week.
Frederick is our Non-Executive Director & Coordinator and, money expert. He is passionate about teaching, sharing his knowledge and helping people become confident about their finances. Thanks to his work, we are building awareness and growing our community.
Frederick, thank you for all the wisdom that you have been sharing with us.
Why is talking about money important to you?
Frederick: Starting a conversation about money lets you evaluate your financial situation and set a clear vision for the future. In the end, having money will give you choices. So, setting up our short-term and long term goals is essential.
But it also makes you reflect:
“If I had some money saved in my bank account, what would I even do with it?”
or
“Am I spending my time in the right way?”
These are the questions you should be asking yourself.
How has your relationship with money changed over time?
Frederick: I have become better at managing my emotions and the external pressure when it comes to my finances. I don't allow the pressure of society to dictate to me how and when to use my money. I regularly assess my savings, assets, and my liabilities and consistently work on my financial goals. As a result of this, I have increased my savings and used my money for things that matter the most to me and my family.
"I run my own race."
What was the most significant financial breakthrough in your life?
Frederick: The day I decided to pay myself first. It was like an awakening to me. It was ten years ago that I decided to put aside 10% of my income every month. This money I save for my future. The only regret I have is that I haven’t started doing that earlier!
What is the single best piece of advice you’d give to someone that needs financial guidance?
Frederick:
“Live within your means and don’t compare your life with others.”
It’s important to be content with what you have and acknowledge that your journey has just started. Put your time into constantly growing your assets and improving your money management skills, but remember to be grateful for what you have already achieved.
How can we get talking about money with others?
Frederick: Money is a sensitive subject to many, so timing is crucial. I feel lucky because I have a platform to speak about it. I often see that people present an opportunity, and I jump straight to help them.
My wife and I, on the other hand, talk about money openly every week. We created a safe space at home where we can share our thoughts, ideas and goals. We give each other much support, and we grow together.
Where can we get help if we don’t feel safe talking about money?
Frederick: There are many organisations like Citizens Advice, National Debtline, Money & Pensions Service or Money A+E where people are willing to support you. At Money A+E, we have a team of expert advisors that suffered from financial hardships in the past. They do understand what others are going through and there is no judgement here. You don’t need to be scared to talk to us and the service is confidential.
How did Money A+E impact your life?
Frederick: Money A+E created many opportunities for my personal and professional development. I am passionate about supporting people in the area of finance. Money A+E provides me with the possibility and platform to do so.
Working for Money A+E motivates me to continually develop my teaching skills so I can be a support to my team and our service users.
For any enquiries contact us here.
