Money Mages' Personal Finance Grimoire

Where should I keep my Emergency Fund?

With interest rates on cash savings accounts now tending towards 0%, it’s becoming more difficult to decide where to keep your Emergency Fund.

There are competing concerns - keeping up with inflation, but also as close to instant access as possible.

An Emergency Fund is a critical tool in keeping your finances healthy. But if you don’t look after... [[continue reading]]

What is a Share Option?

Share Options are the Option to buy Shares in a company for a particular price, the strike price.

Share Options are often provided as an incentive when working at non-public companies. They are especially common in technology firms. They often form part of your package you negotiate when you join a private company, depending on the company and your seniority.

Ultimate Batch Cook Chilli Con Carne

The other-MM and I love to batch cook. We batch cook on a Sunday once every month or so. It creates healthy meals we can enjoy all week.

Not only that, they are cheap to prepare. With portions less than a £1

I recently posted about how we batch cook, and a few of you asked for recipes -... [[continue reading]]

September 2020 Savings Report

Welcome to our September Savings Report.

This report marks 12 months since the first-ever Money Mage Savings Report. If you’re a regular reader of these reports you know they are average. Trite. Maybe even a bit boring.

I don’t apologise for that.

Our net worth has increased over 25% since last September, and that is the lesson you... [[continue reading]]

Should I overpay my Mortgage?

With cash saving rates so low, everyone is asking: Where do I put my savings? Should I overpay the mortgage instead?

Keeping in cash is less and less attractive as inflation erodes your cash’s buying power as the years go by.

One obvious answer is to overpay your mortgage. If your mortgage interest rate is greater than your savings... [[continue reading]]