Money guru reveals her six simple secrets to getting rich

A money guru has revealed her simple secrets to getting rich, including writing your monthly budget on the back of an envelope and setting up standing orders for & # 39; yourself & # 39 ;.

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Jasmine Birtles, from London, who is the founder of the Money Magpie money site, talks to Vernon Kay at the HeyCar podcast about the steps needed to be financially more secure.

The money wizard revealed that she set up the site in 2008 because she wanted people to be more honest about their money.

Jasmine, who also finds it a shame that money matters are not taught at school, shared her other tips on budgeting, investing, and how living under your means and investing in the rest could make you rich.

A money guru has revealed her simple secrets to becoming rich, including living under your means and writing your budget on the back of an envelope. Stock photo

A money guru has revealed her simple secrets to becoming rich, including living under your means and writing your budget on the back of an envelope. Stock photo

Splashes the money

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& # 39; I can give you in one sentence how you can become rich in the long term, and it is just to live under your means and invest the rest. And that's it then.

& # 39; If you do that for a few decades, you have money. You may not be very rich, but you do have some money. & # 39;

& # 39; It's all about balance – I had a nice family member who would be generous, but she would put something aside every month and when she retired, she had a healthy balance. & # 39;

Jasmine Birtles (photo), the founder of the Money Magpie money site, talks to Vernon Kay in the HeyCar podcast about the steps needed to be financially more secure.

Jasmine Birtles (photo), the founder of the Money Magpie money site, talks to Vernon Kay in the HeyCar podcast about the steps needed to be financially more secure.

Jasmine Birtles (photo), the founder of the Money Magpie money site, talks to Vernon Kay in the HeyCar podcast about the steps needed to be financially more secure.

Buy what you love

& # 39; When it comes to spending less, it's about thinking about what you like, spending it, but saving on things that, if you're honest with yourself, you can actually do without.

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& # 39; Some people say & # 39; don't get that coffee on the way to work & # 39; but if that coffee excites you and allows you to work, do it. & # 39;

To invest

& # 39; What we need is a pension fund – it will pay you to live if you stop working. The pile of money that you put aside must grow so that you can live from it.

& # 39; A pension is just a form of investing, but it's great as the government adds – you can invest £ 40,000 a year in it.

& # 39; The best way to do this and actually the easiest way is to put your money in funds, stock funds.

Jasmine, who also finds it a shame that money matters are not taught at school, shared her other tips on budgeting, investing, and how living under your means and investing in the rest could make you rich.
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Jasmine, who also finds it a shame that money matters are not taught at school, shared her other tips on budgeting, investing, and how living under your means and investing in the rest could make you rich.

Jasmine, who also finds it a shame that money matters are not taught at school, shared her other tips on budgeting, investing, and how living under your means and investing in the rest could make you rich.

& # 39; So this is like a kind of fund is like a bag in which they put lots of shares, lots of different companies, and then you invest in the whole bag.

& # 39; Some companies will do well, some will not. And it comes out on average. & # 39;

Standing orders – for yourself

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& # 39; Standing orders are your friends, you set it up at the start of the month. In short, when you pay for your gas, electricity and broadband and whatever, you set a standing order for yourself.

& # 39; And if I & # 39; say a & # 39; standing order. I'd say a few. So you set one up if you get your money in before you even think about spending it, it puts that money in a savings account for you, maybe in a share capital, an ISA, maybe in a pension like your freelance . & # 39;

Jasmine Birtles, from Money Ekster, spoke with host Vernon Kay on the HeyCar podcast

Jasmine Birtles, from Money Ekster, spoke with host Vernon Kay on the HeyCar podcast

Jasmine Birtles, from Money Ekster, spoke with host Vernon Kay on the HeyCar podcast

Finding the best mortgage

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& # 39; Read what it is and what different varieties you can get – then you can decide what is best for you. The first thing is to decide what to get – just an interest or a repayment mortgage?

& # 39; If you borrow money, you really want to pay it back – and with a repayment mortgage you do that, and you also pay the interest. If you choose the other, you never really own the property & # 39 ;.

Budget

& # 39; You can do it on the back of an envelope – write down two columns – one for the ins and outs.

& # 39; Even if you get an idea of ​​your spending – at least you have an idea to play with every month. & # 39;

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