This website use cookies and similar technologies to improve the site and to provide customised content and advertising. By using this site, you agree to this use. To learn more, including how to change your cookie settings, please view our Cookie Policy
Pocketmags Digital Magazines
US
Pocketmags Digital Magazines

Mastermind your plan

We talk to four experts in finance, work, love and health, and ask them the secrets to ‘living it large’ in all areas of our lives

Wealth

Ann Wilson, financial guru and writer of ‘The Wealth Chef’ has some inspiring advice for adopting a proactive mindset about money.

1 STOP JUDGING YOURSELF. ‘There’s so much shame around debt, but we need to tackle it in a less charged way. One of the most insidious things about owing money is that borrowers go into “hiding”. Contact every debt provider you have and see if you can bring down interest rates. Remember, it’s just a call-centre person at the other end of the phone and, quite frankly, they’re not interested in you. If they won’t negotiate, tell them you’ll take your debt elsewhere. Debt earns banks a lot of money. You do hold power here. As a priority, focus on one debt at a time and throw everything you have at it’, she says.

2 EMBARK ON A TREASURE HUNT. ‘Try to accurately assess your wealth “co-ordinates”: what is coming into, and going out of, your bank account every month? What you need to tackle in this step is your fixed costs, not your disposable income. Make a list of your direct debits and call every provider and ask them if you can have a better price.’ Wilson says. ‘If this is unsuccessful, shop around for a cheaper deal. Again, you can take your business elsewhere.’

READ MORE
Purchase options below
Find the complete article and many more in this issue of Psychologies - No. 150
If you own the issue, Login to read the full article now.
Single Issue - No. 150
$3.99
Or 399 points
Annual Digital Subscription
Only $ 2.31 per issue
Including 12 Back Issues free!
SAVE
37%
Was $29.99
Now $29.99
6 Month Digital Subscription
Only $ 2.61 per issue
SAVE
29%
$16.99
Or 1699 points

View Issues

About Psychologies

The latest issue of Psychologies is now available to download.
Ways to Pay Pocketmags Payment Types
At Pocketmags you get Secure Billing Great Offers HTML Reader Gifting options Loyalty Points