Do you avoid conversations around money because you don’t know what to do?
Well, here’s the secret: you don’t need to be an economist or an accountant to understand finance.
In the previous episode I outlined some of the principles everyone should know in a way which was simple and easy to understand, and on this episode, I am going to dive a little bit deeper.
Welcome to Whooshonomics 101.
I am going to give you a short, sharp overview of the five most important things you can do right now to protect yourself and your family financially for the long-term.
This is not about stocks, shares or investments. It is simply about knowing how to manage the money coming in and the money going out of your bank account. This podcast cuts through the jargon to give you practical tips and takeaways you can use to do this.
Listen and subscribe now.
Links & Resources:
Highlights from this episode:
(00:43) It’s all about the long game
(03:53) Interest bearing debt and credit cards
(07:25) How to get a better mortgage rate
(13:20) Save money!
(18:14) Managing your business expenses
(20:37) Everything is a risk, but some are worth taking
(26:16) Good planning is like planting a flower bed
Has this podcast started you thinking about what A Wealthy Life might look and feel like for you? Why not spend another 3 minutes and take my online audit called Readiness to Retire Wealthy based on the five principles discussed in The Wealthy Retirement Plan book and episodes of this podcast? The assessment provides you with a personal score and report to help you take back control of your financial future – something business owners and employees both forget – but for different reasons.
Https://VickiWusche.com/Scorecard/
Connect with Vicki:
Visit my website to learn more
Booking calendar – https://calendly.com/vickiwusche
Browse Books by Vicki:
Using Other People’s Money: How to invest in property 4th edition
Make More Money from Property: From investor thinking to a business mindset 2nd Edition
Property for the Next Generation: Securing your future in uncertain times 2nd Edition
The New Estate: Insights from the 22nd century
The Wealthy Retirement Plan: A revolutionary guide to living the rest of your in style
Or read the following Ebooks on VickiWusche.com:
9 Critical Property Principles
The De-Job Yourself Manual: Break your reliance on a monthly wage
The Values Manual: Understand what your values are and how they can be key to a successful business
The Goal Setting Manual: Create meaningful and practical goals then achieve them
Episode 016 Transcript – 5 Steps You Can Take Right Now
Hello, my name’s Vicki Wusche and welcome to A Wealthy Life. Last week I went off topic a bit and almost to the edge of my skills, because I’m not an economist, and spoke about the economy, but also how the market shifts. And the ultimate message last week was: don’t panic. And if you haven’t listened to that, do go back and listen to that podcast.
It’s all about the long game
When I finished recording that–and it’s now just half an hour later–I’ve been so struck that I actually want to go on and record another podcast for you, which you’re now going to hear this week, which is going to maybe take it a little bit further and give you some practical tips. Because I thought on reflection it was really important to give you that overview in the market to hopefully give some of you a different perspective; some certainty, some understanding that everything that goes on in the economy is a much bigger game than we can ever understand.
It’s all about the long-term and it’s all about how lots and lots and lots of very little parts, all come together and create a situation that either causes something to rise in price or something to fall in price, something to be in demand or something to be out of demand. And we have no control over that. But what we do have control over is our own income and expenses.
So, I’m going to take you through maybe five points, which is quite a lot for a podcast. So, if you’re somewhere where you can take notes, do; if you’re listening on your phone or something like that, maybe open up a message to yourself or the notes area where you could just take down some notes on these.
Obviously when you look at the podcast online, you’ll see that there are the show notes. And eventually what we’re going to be able to do is put up all the transcripts and any attachments that I want to put to you. All of those links will be in the notes below. So, let’s get into this because I want to be as quick as I possibly can so that we sort of keep to that half-hour slot. So, this is going to be fast. It’s going to be an overview. It’s going to be packed full of things that you can do right now to protect yourself and your family. Not only for now and for this year, but for the long-term.
Number one–and you’re going to go “oh! here she goes again!” –check your income and expenses. And I will always do this because the thing is, if you don’t know how much money you’ve got and you don’t know how much money you’re spending; how do you know whether you’ve got the money to invest, the money to save, whether you’re in a good position or in a bad position? So, yet again, as I did last week, I will include the link to the Excel spreadsheet that you can use. But you can do anything you like–you can use an app; you can use pen and paper if you want to. I really don’t mind, okay? Just count your income and your expenses.
And when you do this regularly and you, you then get yourself at least a three-month period where you’ve been doing it, you can start to look at trends and you can say, “ah, okay. So, my housing costs are staying fairly straight.” That’s great news. “Actually, my [obviously because we’re all going to be affected] my utility bills or maybe my travel bills have gone up or gone down,” or whatever else, you can start to make judgments on your spending.
And when you get to that point where you become more consciously aware–and I’ve spoken about this in the past–when you’re more consciously aware of what you’re spending, you can make more informed decisions. You’re not just led, almost by the nose or by the cheek if you’re hooked in, into making purchases that aren’t necessary for you.
Interest bearing debt and credit cards
The second thing that you can do once you’ve got your income and expenses sorted out, is to start to look where in there there is interest-bearing debt. And what I mean by this is if you, for example, have taken out a credit card and it’s on a nought-percent balance, that’s not interest-bearing debt because you’ve got no percent.
Yes, you paid a fee at the beginning, and I’ve probably explained all that to you before, but it’s not interest-bearing. If you have a credit card that you are not clearing on a monthly basis, that is incurring interest. And that is a very high interest rate; that is 18 to 24% or more, depending on the credit card companies that you use. You need to pay attention to that because paying 18% at a minimum on top of something that you bought is crazy. So, these have to be cleared. You have to clear your credit cards. You may also have a personal loan. That’s probably at a set interest rate that might be somewhere between 3 and 10%. That costs you money. Depending on what else you’ve got going on in your situation, you can look at whether you can adjust that.
You need to pay attention to a mortgage if you have one. So, let’s speak to you as a residential person at the moment as a residential property owner. So, in your own personal life, your mortgage will have an interest rate. What is that interest rate? When did you last re-mortgage? What is the term of this current interest rate, not the term of the whole mortgage? So, you might have borrowed money for 15 years, 20 years, 25 years, depending on how old you are. That’s the length of the mortgage. What I’m interested in is how long is this current interest rate you are on? What is the term, the period that this interest rate is going to apply to your loan?
So, once you know what the period of this interest rate is, you can make a decision as to whether you are in the right place in your mortgage to consider re-mortgaging. Now I’m not being a financial advisor. You need to get financial advice because it’s got to be affordable for you to re-mortgage. And I’m not suggesting that you re-mortgage in order to pull more money out to increase your debt. You’d really have to take advice on that.
And that money, if you did pull money out of your residential property, would need to be used for purposes that generate more money, because that money that you draw out of your house will cost you money. So, it’s got to cover its cost. Don’t pull money out of your house just to have a holiday because you really want one, unless you have enough money that you can invest some of that money into a property or whatever. Generate enough income, and then that can pay for you to have your holiday.
I’ve gone off track, come back. Interest-bearing debt: look at your mortgage and look at the interest rate you’re paying. Get in touch with your broker and find out whether you could be on a better deal. As I said to you in the last podcast, we don’t know whether interest rates are going to go up or not. They have certainly gone up now, and we know that the cost of living is going up. And usually when the cost of living goes up: inflation. They use interest rates as a way to control things.
So, there is a possibility or even a probability that interest rates will go up again between now and Christmas, on top of the fact that our utility bills and our fuel bills are going up. So, if you can mitigate, offset some of those increases that we’re going to see in the autumn and the winter by getting yourself a better mortgage rate now; or locking into an interest rate now, before interest rates go up, that could be a good thing to do.
How to get a better mortgage rate
And again, even if you’re a residential owner; have a conversation with your broker about your plans and whether actually locking yourself in for five years would be a good thing to do. Caveat: if you think that you may move house, if you think your relationship may change, if you think that your job situation will change to such a point that you may want to move house, maybe don’t lock yourself in for five years, because there are penalties if you try and break that. But if you know that you’re in a fairly stable place, or think that you’re in a fairly stable place in your life, there may be a five-year residential mortgage. We’ve done the same at home because we feel that we’re fairly stable for the next five years, and we want the certainty of knowing what our mortgage costs will be. There’s one thing that we control. Remember in the last podcast I was saying to you, we can’t control the general market, but we can control what we spend and what we spend on by being more conscious about it. So, look for interest-bearing debt.
Now, if I just mentioned this to you, if you’re a property investor as well; go through your entire portfolio, look at where you are in your mortgages. We’re just doing the same. I’ve had one of those mortgages–express mortgages. And if you don’t know what I’m talking about, that’s fine. But if you’re a property investor and you’ve been in the market for a while, mortgage express was a way that people got mortgages in the early days, that company went down, taken over by Jasper and now Jasper have started putting the interest rates up. So, we’re taking that opportunity to review the portfolio and look to re-mortgage. So do this to your portfolio.
And now let me speak to you as a business owner. Okay, as a business owner, whatever I say to you to do–or suggest rather–whatever I suggest to you to do as an individual, as a human, as a family member: apply this thinking to your business as well. So go through your business, look at your income and expenses. Look at these costs, you should be doing this anyway; but the chances are that a lot of businesses, particularly smaller businesses, only do this on an annual basis. I want you to get down to the monthly, and depending on how big your business is, you maybe break some of those costs down to even weekly figures so that you know how you’re performing, you know what you’re spending. And then you can look for where there’s interest-bearing debt in the business, and what can you do to mitigate that as well.
And just to come back round to credit cards; never, never leave debt on a credit card that is incurring interest. If you get a nought-percent card, that’s a completely different situation. But if you’re in a position where you are interest-bearing debt, that’s compounding, that’s constantly costing you money. You can’t afford to allow that to be in your business or in your personal life, unchecked. You have to do something about it. And again, I’m not telling you to do this, but there are plenty of websites that you can go to. And if you’re not already damaged your credit rating, if your credit rating looks good, maybe you need to look at getting yourself something like a nought percent credit card.
Remember that there is a fee, okay? So, there is a fee with a naught-percent credit card. Sometimes it’s as much as 5%, but if you only take out a credit card for a year, you will have effectively paid 5% for that money; while still relatively cheap, it could be cheaper than that. If you can find a nought-percent credit card–and I think I’m not going to say names because they may not be relevant by the time you listen to this–but if you search “naught-percent credit cards” online you’ll find this; that some of these cards are offering 2.9 or 3.5 as an admin fee, but they’re then giving you two years naught-percent finance, because they know that people in difficult situations.
And so, they won’t say they want to help, because they’re making money out of you, right? They are making money out of you as a business, but it’s actually cheap money that’s available for you if you’ve got a good credit history. So that’s a way for you to manage your finances. Now, if you’ve got cards that are incurring interest and you can’t clear them immediately, you might want to consider a nought-percent card; look to get it as close as you can to 18 months-two years, because that reduces, in effect, the actual cost of the interest that you’re paying.
So, if for example they were going to charge you 3% a year, and what you managed to do was get it for two years, it would be as if they only charged you one and a half percent. So, instead of 3% for a year, if you’re going to pay 3% once, but it lasts you two years, it’s obviously it’s one and a half percent a year. That’s very cheap money, much cheaper than paying 18% interest. But this only works if you then break the habit of buying things that, technically, you can’t afford; because if you’re not clearing your credit cards, you can’t afford it. You use a credit card to extend your paying period and make sure that your money is working for you at the other side, so that when you do come to pay it, your money has, has worked for you for another 56 days. So, there’s a whole strategy there that I definitely used when I was first single and a single mom. It was a way that I stretched my money. So, be aware of that.
Save money!
Now I need to speed up a bit because I’ve been talking for too long just on income and expenses and interest-bearing debt, because that’s really important. It’s about control. Now, the next thing you need to do–building off of your understanding of your income and expenses and stopping money leaking out–is save. And this is a time to make sure that you’ve got at least three months of your basic income and expenses saved in an account that you don’t touch because it’s eventualities.
What if something happens? What happens if yesterday you fell and broke your leg and you couldn’t work and you didn’t get sick pay, or you couldn’t do your business or whatever it was. You’ve got three months’ money to cover you. If you can get that to six months, even better. And now what I’m talking to you about is when you look at the spreadsheet, there are the basic expenses; these are the costs to put a roof over your head, to put food in your stomach and to stay warm and have the lights on–that type of expenses, the basic cost, the core costs.
And when you have enough money to cover those, you have a sense of security because you can just go, “wow, do you know what? Things are difficult, I can do without a takeaway this week. Because I know everything else is covered. I’m all right.” So, make sure that you have savings of a minimum of three months and preferably up to six months, sitting in an account that you don’t touch. It won’t earn you a lot of interest so there’s no point going crazy with having much, much more than that; but this is your security blanket account, you know.
Managing your business expenses
So, the next thing you need to look at is big expenses that are coming down the line for you. So, as a homeowner–it’s different if you’re in rented costs because in rental costs, most of those big expenses are covered by your landlord. So, I’ll speak to you as a landlord in a minute, but as a homeowner, let’s think. So, you might have refurbishments that you need to do to the house: are they cosmetic “I’d like them,” in which case, given how expensive things are at the moment–and we hope that things will settle down next year–is it something that you could save to next year or is it really quite essential, and therefore you need to get on it now because prices are rising.
So, you need to start making these judgements. But they’re not emotional; they’re led by your spreadsheet because you know the financial position you’re in and you’re certainly not going to take out expensive purchases–like whether it’s a kitchen or a bathroom or anything else–on a credit card that you can’t afford to repay and then end up paying 18 or more percent on it.
You’re doing this because you’re in control of your income and expenses. You’ve got your savings, you know where you stand, and you’re going to make decisions about whether things need to be done, as in urgent, or whether they need to be done, as in terms desirable, and make those decisions for yourself. And it’ll be different for everybody. So, these could be repairs, it could be refurbishments. It could also be looking at energy costs.
So, have you checked in your area whether there are grants or schemes or projects led by your local council to bring in solar panels? So, I live in Surrey. If you are earning, I think it’s 25 to 27%–sorry, thousand pounds–25,000 to 27,000 pounds a year, you could access a grant and actually not have to pay for insulation in your property or energy-saving alterations to your property.
If you earn over that, then there is a scheme called Surrey Together, which was where Surrey brought in a supplier and controlled the price of solar panels in a way that meant that the suppliers would give us, theoretically–I’m not, I’m not completely sure how much we’ve saved by it—but, theoretically give us a better price because they’re buying in bulk, the solar panels, and then starting to put them out. So, we secured our prices.
So, have a look online at grants and then have a look online at schemes, and without getting too “buildy” about this, you want to be looking at insulation in your walls, insulation in your roof. So, you know, making sure that the heat’s not–because it rises–that it’s not just flying out your house.
And then of course, look at solar panels. Now, those are going to be big expenses. And actually, they are something that would be worth you looking at because the expense might be offset by the savings that you make down the line. But you need to look at these for yourself. The other thing is, if you are a tenant and you’ve got a copy of the EPC–or again, as a residential owner, your EPC–Energy Performance Certificate, can guide you on. But have a look at your EPC and there might be a way, if you are a tenant, that you’re in a position where you could access grants, see if you can access grants, go to your landlord to get permission, and then make the changes to the houses or the properties that you live in for yourself.
If you’re a business owner, you’re in the same position; you’ve still got all of these energy costs. You’ve still got–well, unless you rent your premises, lease your premises—you’ve still got potentially repairs or maintenance costs to run through the same exercise. How’s the premises that your businesses are in? Is this the right size for you? Do you need to go smaller? Do you need to go bigger? Make informed decisions, because again, as a business owner, you will also have been looking at your income and your expenses.
And while we’re on business, let’s just also talk about staff costs. So, what are your staff costs now? What are your projected staff costs? Do you have the right team? Do you have the right people in the right jobs? Do you have the right number of people? And I know that a lot of people are struggling–bizarre, isn’t this–struggling to get good employees. And I think that’s all back to the conversation that I had with you before, that people have made other judgments.
I do wonder whether this idea of furlough and being paid to stay at home has made people think twice about whether they really want to work, and if they can afford not to, they won’t. But what you’re losing, out of a lot of businesses, is the senior more experienced staff. And then that will give you sort of a knowledge and an experience and then capacity gap in the business. So, what plans can you put in place now? What do you need to do now in terms of staff?
And then the other side of things is material costs. Do you have material costs in your business? I mean, even if you were a masseur, we’re talking about papers or towels or oils. If you’re a coach, then probably not; but you’ve still got internet, maybe mobile phone costs. Have you looked at those in your business and are you on the best deals?
And again, not to sort of plug anybody, but I think there was some deal between, was it Virgin and Skye? No, it can’t be, but maybe it was, there was something about you could have your Wi-Fi and your phone… Or maybe it was Skye and O2, or Virgin and O2… Well, there you go, see, this is why I’m not plugging people, because I don’t know who I’m plugging. But I think there are some deals out there that are starting to look at bringing together the Wi-Fi and your phone contracts. And if you’ve got a business, then it’s a way to do this, But equally, if you are a property investor, remember some of these costs can be offset against your property profits.
Everything is a risk, but some are worth taking
And then the last thing that I want to talk to you about is risk. There’s always risk. There’s always risk; there’s the risk every day that you go out, that you could have got squashed yesterday. Or small risks that you could just trip over, and even if you break a finger, that would be really inconvenient if it was on your writing hand.
So, we’re surrounded by risks and we can’t mitigate for all of them, but we can mitigate for a lot of them. So, just to loop back up, if you’ve got your income and your expenses, and you know where you are, you can spot where the weaknesses and the risks are in your personal finances. You can look at your house and your living situation, and you can identify where the risks are.
And for all of us, really, the risk is rising utility bills, and we can’t control them. But we could mitigate them by potentially putting on a solar panel, or by putting in insulation, or by fixing drafty windows, or even, you know, a seal at the bottom of the door could stop a draft coming in. So, there’s plenty of things that you can do to mitigate risks. So, either actual financial risks where money is leaving your business, or risks where something could happen that could cost you money.
So, number one: check your income and expenses. That puts you in control. Number two: look for interest-bearing debt and make sure that you mitigate that, that you don’t allow interest-bearing debt just to carry on in your life, because that is totally wasted money. You need to take action on that. That’s really, really important. Three: build up your savings. A minimum of three months, preferably six months of your basic costs covering the essentials that you need to keep you and your family going–food, utility and warmth and light, that type of stuff. Then, consider forthcoming costs; become conscious about your spending, be aware of what’s coming down the line for you.
And then lastly: look at risk, which is different from considering big costs coming down the line, because you’re looking at those and you know what they might be; risk is the unknown. Where is the weakness in this plan? Where is the threat coming from? And you might not know exactly what the threat is. But you know where there is a gap and you can start to do something about it.
So, in property terms, I would always think that interest rates could rise. So therefore, I will secure my mortgages. Rents could lower. Well, then I will always make sure that I’ve got sufficient surplus in my account anyway, so that I would never have invested in a property where the margin between the costs, the property, and the rent were very narrow. So, I’ve usually got a good margin there anyway.
The second thing is that a property could become empty and I might lose my income altogether. How can I manage that and make sure that we are on top of any expenses that are going to be incurred while the property is empty, and how we can minimize the time while the property is empty? And then what are the other costs around the outside? Insurance costs, you know, everything that goes around the outside of running a property. And then looking at how I can manage repairs, what can I do now? What can I afford to do now? What do I need to put to the future? And all of the supplies.
And then if we ran through it as a business owner with my business now, what is my income? What is my projected income? What is–well, I don’t have any interest-bearing debt, I didn’t take out any of those loans that everybody did. So that’s all fine. I don’t have any interest-bearing, or any debt at all, in the business. That’s okay. Do I have money in reserve? Absolutely. I love a pot in my bank account.
So, I’ve got, whenever an invoice comes in, some of the money goes straight off to pay the VAT and the tax. Some of the money goes off so that I’ve always got six months’ worth of money in the business. So, if I chose, you know—and if you’ve listened to me enough, you know that I’m one that I might just decide to go in the garden for a couple of months–if I decide not to work for a couple of months, I’ve got enough money that I can still pay all the way to still keep the business running and not have to worry because there’s still four months after that. So be aware of the surplus and the pots, and that you can mitigate for the expenses to come in your business.
Big repairs. I don’t really have any big repairs in the main business, that would all be held with the property. But one of the things I do want to do is look at buying a new Mac. So, I need to keep an eye on the prices. Is it better to do it now, or is that an expense that I should put off to next year? Could I keep this machine going for another year or am I better off making that investment now rather than waiting until the autumn where maybe prices will have gone up? Do I need to do anything around energy? Well, that’s already taken care of in the overall property strategy.
What are the risks in terms of staff? I’ve got a really good team at the moment, that’s fine. Don’t have a lot of material, business materials in this business. You know, maybe it’s just the internet, some stamps and envelopes, things like that. I suppose materials could be the costs of the books. So, you know, the cost of paper, or of getting some of these books delivered.
I could look at stock that I’m holding. Do I want to order more books so that I’ve got a stock in or not? That type of thing. And then, any other overheads that you might have, so always reviewing your business insurance and stuff like that. And then where are the risks? So where would the risks be in my business?
Good planning is like planting a flower bed
So that’s what I want you to think about. And as usual, I’ve done my Roundup. I’m absolutely stumped for a gardening metaphor this time. What would this all be about? I think this is about planning and general good gardening sense. You know, understanding–here, how’s this? Understanding, what each flower bed is for, what’s the purpose of each vegetable bed, which vegetable are you going to put in what bed? I’ve just been doing that now. So, I’ve rotated all of the crops so that the same things aren’t in the same bed, so the same bugs from last year, don’t get all too carried away and think that they can eat the same stuff.
So, you know, always looking at the assets that you have, looking at the money that you have, looking at how you can manage your situation, will help you–as I said, in the last one–feel more confident, feel more in control, feel more capable. I’m sure there was a different word last time beginning with C, but, you know, look at your spending, be conscious. There’s a fourth one, you know, be conscious of your spending, be in control of your spending. It will make you feel more confident and more comfortable, and more in control as we go through the whole potential–and I’m still going to use that word–potential turmoil of the autumn and winter.
I do think that we still will see utility bills rise, but also interest rates. I reckon we’ll probably go up another half, at least, between now and Christmas. I think that–and I’m not obviously–but if I was in charge of the bank of England, I’d want to see the impact on the changes that I’ve made before I go straight in and make another one, because I think that the danger is if you fiddle too much with the market, you can cause a whole set of ripples to come down that end up being a tsunami. So, I think that they will be—please! I’m actually making a prayer symbol–please be sensible and cautious. We’ll see. But I do think that we we’re likely to get one more interest rate in before Christmas. But I think they’ll want to see how this one’s going to affect us.
And of course, sorry to bring it up, but looking at the war in Ukraine; how much longer that will work, and also this tit for tat stuff with turning oil and gas and everything off; what will happen, what other players will come into the utility market? And you know what, to just finish on a bit of hope here for us, as COVID altered the market and got us to buy more things online, got us to look at the way we work so that we didn’t carry on being these ants that always went to work five days a week on a train and everything else, now we’re in a position where a lot more people are in a lot more control over how they work, and actually are probably more productive for it.
Could this start to change the utility and the energy markets and actually accelerate that? We were always going to gradually buy online. COVID accelerated those businesses, they accelerated Deliveroo and Just Eat and the home food delivery market, and they accelerated our urgency to get online and to sell our products online; a positive outcome from a very difficult situation.
What’s the positive outcome from the war and from the actions of Russia controlling the rest of the world? Are we going to see things open up? Are we going to see massive improvements in things like solar power and wind power? And, of course, there’s still wave power, you know, that we don’t talk about. What about biomass fuels? So, there’s so much that we can do, and I really hope that there are some great minds out there that now get access to funding.
Because from a government perspective, if I was in charge, I would be ploughing money into how we can create our own power in this country, that isn’t just reliant on nuclear, that we need an alternative, we need sustainable, renewable energy. And we also then need to make sure that the funding comes down to residential homeowners and even business owners, so that we can start drawing on these.
And why hasn’t every single house in the country got a solar panel on it? And, I know there’s a cost, but why don’t we? We then wouldn’t have electricity costs, would we? And we’d actually have all of the houses feeding the energy back into the grid, and then we could power the hospitals, for example–so, buildings that are tall and narrow, and so what they could generate on their roof wouldn’t supply them–we, as the houses in the area could be supplying energy to provide our houses or our schools or our police stations, or anything else, for free with renewable energy. We need to do something about this.
You need please to do the five things that I’ve told you. Look at your expenses. Look for interest-bearing debt, get in control of your finances, build up that cushion of savings so that you feel comfortable, you feel secure. And this applies to you, whether you have a million, a quarter of a million or 250,000 pounds; it doesn’t really matter where you are. If you don’t know your finances, you’re vulnerable, and you need to make sure that you’re not vulnerable going into this next six months. Get strong now and you will then be in a strong position going forward.
And when you’re in that strong position, you know what? You can help others. You can either help others by explaining what you’ve done, or you can help others because once you’re in a financial position and you’re strong and you’re safe, you can be more charitable. You can contribute more. And I’m going to leave you with that.
My name is Vicki Wusche. This has been A Wealthy Life. Little delve into economics over the last two podcasts, but I hope that they have given you a much needed–you know, what, not just a “Whoosh” in your life. So, Whooshonomics, how’s that? Let’s say that these last two podcasts have really been about Whooshonomics. I wish I thought of that, because I could have put that in the last podcast.
So yeah, my name is Vicki Wusche and I hope that you’ve had some much-needed Whooshonomics which will put you in a position where you feel more confident, comfortable, in control, and knowing that you’re going to be okay for the long term. Thank you very much, please always subscribe and listen and review and rate, and then send me any questions. I’d love to hear from you. Thank you.
You’ve been listening to Vicki Wusche – wealth strategist, author, and property investor. With a name like Wusche, spelt W-U-S-C-H-E, I’m easy to find on all the usual social media channels. Do come and connect. Been loving the podcast? Then join the listener Fan Club, where I will share extra insights and host webinars. Links to this and more of my story are both in the show notes and on my website: vickiwusche.com. See you on the next episode!