What will I learn about: how to secure a cheaper mortgage by saving at least a 10 percent deposit and strictly reining in your expenses before applying?

Discover how to secure a cheaper mortgage by saving at least a 10 percent deposit and strictly reining in your expenses before applying.

What will I learn about: why having no credit history can actually hurt you, and learn how to build a strong profile by paying off small credit card balances in full each month?

Understand why having no credit history can actually hurt you, and learn how to build a strong profile by paying off small credit card balances in full each month.

What will I learn about: protect your credit score from long-term damage by spacing out financial applications and aggressively contesting unfair marks on your report?

Learn how to protect your credit score from long-term damage by spacing out financial applications and aggressively contesting unfair marks on your report.

What will I learn about: the reality of debt management by seeing exactly how paying slightly more than the minimum monthly balance can save you thousands and clear your loans years faster?

Master the reality of debt management by seeing exactly how paying slightly more than the minimum monthly balance can save you thousands and clear your loans years faster.

What will I learn about: Uncover crucial financial insights, from how the Japanese turn budgeting into an art form to how your salary might secretly be funding unethical industries?

Uncover crucial financial insights, from how the Japanese turn budgeting into an art form to how your salary might secretly be funding unethical industries.

Money

A User’s Guide

Laura Whateley

★ 4.0 / 5(164 ratings)

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Categories:

Money & Investments

If You're Curious About These Questions...

You should listen to this audiobook

💡Did you know that the intimidating jargon surrounding your finances is often just a barrier to the simple strategies that could save you thousands?
💡Have you ever wondered why traditional advice on debt and pensions often fails millennials, and what you should be doing instead to actually get ahead?
💡What if you could stop feeling guilty about your spending and finally gain the confidence to make your money work for your future self?

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Key Takeaways from Money

✓Discover how to secure a cheaper mortgage by saving at least a 10 percent deposit and strictly reining in your expenses before applying.
✓Understand why having no credit history can actually hurt you, and learn how to build a strong profile by paying off small credit card balances in full each month.
✓Learn how to protect your credit score from long-term damage by spacing out financial applications and aggressively contesting unfair marks on your report.
✓Master the reality of debt management by seeing exactly how paying slightly more than the minimum monthly balance can save you thousands and clear your loans years faster.
✓Uncover crucial financial insights, from how the Japanese turn budgeting into an art form to how your salary might secretly be funding unethical industries.

Learning Tools

Reinforce what you learned from Money

Mind Map

Money

Housing & Mortgages+

Credit Scores+

Debt Management+

Budgeting+

Investing & Saving+

Pensions & Retirement+

Relationships & Finances+

Emotional Relationship with Money+

Ethical Investing+

Quiz — Test Your Understanding

Question 1 of 10

What deposit threshold does the author recommend reaching to secure substantially cheaper mortgage interest rates?

A. 5 percent
B. 10 percent
C. 15 percent
D. 20 percent

Question 2 of 10

According to the text, how do lenders generally view a borrower with no credit history?

A. They view them as a blank slate and offer average interest rates.
B. They view them as highly responsible for avoiding debt.
C. They view them as often worse than someone with a negative credit history.
D. They view them as eligible only for government-backed loans.

Question 3 of 10

What is recommended as a first step if you are struggling to make your debt repayments?

A. Declare bankruptcy immediately to wipe the slate clean.
B. Take out a new loan to cover the minimum payments.
C. Ignore the debt letters until you have saved enough money to pay them.
D. Contact your creditor to arrange a more manageable repayment plan.

Question 4 of 10

What is the primary goal of the Japanese budgeting method known as Kakeibo?

A. To imbue a sense of mindfulness into your everyday spending.
B. To eliminate all non-essential purchases from your life.
C. To rely entirely on physical cash rather than digital banking.
D. To invest a minimum of 50 percent of your income.

Question 5 of 10

How do investment funds primarily minimize risk for individual investors?

A. By guaranteeing a fixed return that outpaces inflation.
B. By heavily investing in a single, high-performing asset.
C. By giving investors a percentage stake in a diverse spread of assets.
D. By allowing individual investors to personally select each stock.

Question 6 of 10

Why is a pension generally a more lucrative way to save for retirement than a standard savings account?

A. Pension funds are completely immune to stock market crashes.
B. Pensions are essentially savings or investment accounts wrapped in a tax break.
C. You can withdraw money from a pension penalty-free at any age.
D. Employers are legally required to match 100 percent of your contributions.

Question 7 of 10

In couples' financial counseling, what does the technique of 'contracting' involve?

A. Signing a legally binding prenuptial agreement.
B. Keeping all finances completely separate to avoid arguments.
C. Agreeing that both partners must contribute exactly 50 percent to all bills.
D. Working together to set out a series of financial guidelines that both partners agree upon.

Question 8 of 10

How can incorporating a 'mood diary' into your household ledger improve your financial habits?

A. It allows you to claim mental health deductions on your taxes.
B. It automatically calculates how much 'fun money' you deserve each week.
C. It helps you identify emotional triggers for spending, such as shopping when exhausted.
D. It replaces the need for tracking exact monetary amounts.

Question 9 of 10

Why are experts increasingly viewing ethical investment funds as a safer and more lucrative option in the long run?

A. They are subsidized heavily by environmental charities.
B. Unethical industries are increasingly seen as risky due to mounting pressure for government regulation.
C. They guarantee higher dividend payouts than traditional funds.
D. They charge zero management fees to investors.

Question 10 of 10

According to the 50/20/30 budgeting technique, how should you allocate the 30 percent portion of your income?

A. To essential costs like rent and bills.
B. To paying off debt or saving.
C. To long-term retirement investments.
D. To everyday spending and non-essentials.

Money — Full Chapter Overview

1Recommendation
21 — You can secure a cheaper mortgage by saving a bigger deposit and cutting back on expenses.
32 — Boosting your credit score can help you get better loan and mortgage deals.
43 — However much debt you have, it doesn’t have to be unmanageable.
54 — You can budget well without reducing your standard of living.
65 — Putting your money into a fund is a safe way to grow your savings.
76 — The sooner you start a pension plan, the better.
87 — Talking about money regularly and openly can strengthen your relationship.
98 — Managing money also means managing your emotional relationship with it.
109 — Ethical funds can be a safer and more profitable choice for your money.
1110 — Final summary

Money Summary & Overview

Money (2018), the celebrated handbook to all things money, cuts through obscure financial jargon to explain personal finance in clear and straightforward terms. Brimming with actionable advice, it helps you finally tackle those pesky financial problems you’ve been avoiding for so long, from managing your debt to sorting out your pension. It’s time to take back control and feel good about your finances.

Who Should Listen to Money?

Millennials struggling to get by in a confusing and expensive financial system.
Cash-strapped people who are constantly fretting over their expenses.
Anyone who wants to ease financial stress and grow their wealth for the future.

About the Author: Laura Whateley

Laura Whateley is an award-winning journalist who specializes in consumer finance. She’s most notable for her money-themed agony-aunt column – written under the pseudonym “The Troubleshooter” – which she writes for The Times. She also writes on the subject of personal finance for other publications such as The Guardian, The Observer, Dow Jones, and Moneywise magazine.

Money

If You're Curious About These Questions...

Listen to Money — Free Audiobook

Key Takeaways from Money

Learning Tools

Mind Map

Quiz — Test Your Understanding

Money — Full Chapter Overview

Money Summary & Overview

Who Should Listen to Money?

About the Author: Laura Whateley

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