Money Mages' Personal Finance Grimoire

Money Mage’s Complete Personal Finance Grimoire. Life giving spells for making more money, saving and investing, and retiring early.

  • What is an Emergency Fund?

    Most households can’t save. An FCA survey in 2018 states 41% households would struggle with an unexpected bill of £100. 10% of households are ‘in difficulty’. Having missed credit commitments or domestic bills in the last 3 months[]

    Fiscal policy is encouraging households to spend not save. Spare household income is so low, people are on the precipice of a... [[continue reading]]

  • Is P2P a Safe Investment?

    FundingSecure the pawnbroker-come-peer-to-peer lending platform has failed. Their founders mostly cashed out 12 months ago[]. This is the second UK-based P2P failure in 2019, with Lendy failing in May.

    If you are an investor with FundingSecure, you are now locked out of your account. You have no idea if you’ll get your money back. You’ll have to wait... [[continue reading]]

  • 8 reasons Financial Independence is for Everyone

    It wouldn’t be unfair to say that Financial Independence is like champagne socialism. Especially FIRE - Financial Independence, Retire Early,

    The privileged, white, well-off, middle classes. Sitting on their mountain of wealth. Preaching to those beneath them to enjoy living off unbranded tins of beans.

    The reality of the less-well-off is quite different. Like wondering if you are going to... [[continue reading]]

  • Protect your holiday & avoid another Thomas Cook

    It’s been a bad couple of years for the travel industry. Six tour operator collapses and thirteen airline collapses in 2018[].

    It’s terrible for the 9,000 employees of Thomas Cook who haven’t been paid their final salary. They’ll now have to claim via the Insolvency Service and wait weeks to get what they are due.

    It’s also terrible for affected... [[continue reading]]