With her devastating looks and spicy reactions to unfortunate candidates on television, Baroness Karren Brady does not like to suffer from fools
This week in our How to get Rich series, We have received tips from City Fund managers who are in charge of billions of pounds, showing you how to increase the value of your home and create a retirement pot that will last a lifetime.
We have assisted you in aligning your financial skills from investing in the stock market to adjusting your spending pattern to save thousands of euros & # 39; s per year.
The final installment of today is about using your ability to help your children and grandchildren.
Here we speak with Baroness Karren Brady, vice president of the West Ham Football Club, who is best known as one of Lord Sugar & # 39; s trusted assistants at BBC & # 39; s The Apprentice.
It reveals ways to support your children in their career and finances – without giving them a free ride.
With her blown glances and spicy reactions to unfortunate candidates on the TV show, it is clear that Karren does not like to undergo fools.
But outside Lord Sugar's boardroom, she is a champion of young business people – especially women – and wants to show the next generation ways to move forward.
Called twice the First Lady of Football, Karren is worth an estimated £ 85 million and could undoubtedly pay for everything her children ever wanted. But she is convinced that the only way to learn the value of money is to make it yourself.
& # 39; I didn't go to college and I felt that if I had, I would have been really proud to pay for it myself
& # 39; Both children have paid their own college prizes.
& # 39; I didn't go to college and I felt that if I had, I would have been really proud to pay for it myself.
& # 39; I didn't think it was good to take away the gift they could give themselves. & # 39;
But Karren admits that she has helped her daughter Sophia, 23, a model with more than 30,000 followers of Instagram, if needed.
& # 39; My daughter has her own job, her own flat and she is completely independent. Yes, I contributed to her rent. But with regard to all her bills and her living expenses and everything else, I am not contributing to that.
& # 39; It's pretty hard to exist in London and she lives in a very modest one-bedroom apartment, not a penthouse. & # 39;
& # 39; If you work hard for your money, you learn to make sacrifices and are not frivolous with it. & # 39;
Family values: Karen and his daughter Sophia, 23, a model with more than 30,000 Instagram followers
Carts & # 39; s tips to pass on to children
- You must realize your value in order to insist on pay increases and promotions.
- A good work ethic will take you far. Lord Sugar is in his 70s, but he is still the first person in the office and the last to leave.
- Don't be afraid to say that you are ambitious. You need a spark, a fire to bring you in.
- Ambitious does not have to be ruthless. One of the mottoes I've lived by is that you never look down on people unless you help them.
- Be assertive and stand up for the things you believe in – it will show other people that you respect yourself.
- Only by meeting challenging situations will you find out what you are capable of.
- Visit Karren & # 39; s website strongfemaleleadership.com for more advice on how you can improve your career.
Karren, who celebrated her 50th birthday this year, grew up in Edmonton, North London, and went to a local comprehensive school until her father Terry's printing business started. After this she switched to a boarding school.
She admits that she was initially embarrassed when he picked her up at the gates of the local secondary school in a Rolls-Royce. But Terry and Karren's Italian mother, Rita, taught her not to be ashamed of the wealth of the family.
Nevertheless, she started on her own path to wealth at the age of 19, when, just after leaving school, she followed the filthy advertising world as an intern at Saatchi & Saatchi.
She fought hard to prove herself and shot up through the ranks, where she soon got a new job on LBC radio, where she won a £ 2 million deal for the Daily Sport and Sunday Sport to advertise at the station.
Her company got the attention of the press, then publisher David Sullivan, who offered her a job, and at the age of 20 she became company director.
When she saw an advertisement announcing the sale of the Birmingham City Football club, which was put on the market by the recipients, Karren convinced Sullivan to buy the club.
Today's latest episode in our series is about using your ability to help your children and grandchildren
While working there she met her husband Paul Peschisolido, one of the star players of the team.
She was a director at the age of 23 and four years later, when she had her daughter Sophia, Karren took only three days off in a famous way for maternity leave, something she now regrets.
When the club was presented on the stock exchange in 1997, Karren became the youngest director of a UK-listed company at the age of 27. A few years later, she had her son Paolo, who is now 20, studying, studying politics and journalism.
& # 39; If I could talk to myself at that age, I think I'd say a career would last a lifetime, so it's important to find a balance in it & # 39 ;, says Karren.
After negotiating the sale of Birmingham City for £ 82 million in 2009, Karren joined the board of West Ham United a year later and is still his vice-president.
She established her fame on TV's The Apprentice, first as one of Lord Sugar's interviews, where the participants were grilled in the final stages of the series.
She took the place of Margaret Mountford, as one of Lord Sugar's assistants in 2009.
Then former prime minister David Cameron made Karren a living companion in 2014 and took the title Baroness Brady of Knightsbridge.
She is passionate about closing the pay gaps between women and men. She says: & # 39; More than 40% of UK companies have no senior management women at all, which is just terrible.
& # 39; Much comes down to gender bias and unconscious bias, but it's also about trust. Your value and self-worth are interconnected. & # 39;
Useful budgeting tips for when they fly the nest
By LAURA WHATELEY
Sticking to spending limits is much easier if you pay in cash or if you avoid using contactless cards. Nowadays it is far too easy to tap and go and completely lose sight of the expenses.
Mobile apps such as Moneydashboard and Yolt show you where you might waste money. Once you know where your money is being wasted, it is much easier to cut back.
Tips: Laura Whateley is author of Money A User & # 39; s Guide, 4th Estate, £ 7.99
Urge your children to put away a three-month profit in a rainy day fund and to save in advance for vacations instead of paying on credit.
Teach them to always pay off their most expensive debts. Opening a credit card and paying in full every month is a great way to prove that they are responsible and will help them get a mortgage in the future.
Don't let your worries about college costs keep your children from studying. You only pay it back if you earn more than £ 25,725 a year and the debt is written off after 30 years.
When your children or grandchildren start working full-time, explain how important it is to start a pension. They may be tempted to opt out of spending more money, but say they miss out on free money from their employer and the government to help raise pensions.
Teach your children the value of investing. It may sound frightening, but if they start early and save little and often, they will have a lot of time to grow their money and to drive away bumps along the way.
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