“Spenditure isn’t a word – I like it though”
Starting with some admissions of sneaky stockpiling (although in true Cathi and Jo style, think orzo and vinegar rather than toilet rolls!), early on this episode makes us feel like the strangest day-to-day effects of Coronavirus are long gone – cheers to that ladies!
But the conversation shifts to long-term effects, and the question of whether financial planning is now in much sharper focus.
With signs of bad spending habits already slipping back into our norm (fancy a Costa anyone?!), Cathi and Jo go on to discuss what the last 3 months can teach us from a financial point of view. Have we learned just how little we can live on? Have prices gone up? Have we said goodbye to cash transactions? Listen for our hosts’ take on this – and to find yourself nodding along to Jo’s resentment for queuing!
Jo may be mourning her shoe-buying addiction, but lists the positives of lockdown that will be familiar to many listeners, such as increased employer flexibility and seeing more of friends (did we even know what Zoom was back in February?!).
What we might not realise though, is the significance of businesses being able to withstand lockdown and having found ways to innovate in that period. This may mean a more independent high street for example but has also meant that the stock market is quickly recovering, and Cathi bravely checks her pension and ISA rates to confirm this. Jo was even braver, but there’ll be no spoiler alerts in this blog, her recent financial adventure is definitely worth a listen.
Overall, this episode gives great examples of the difference that financial advice can make, why financial protection is never ‘overkill’, why holding your nerve/maintaining your payments is important when it comes to investments – oh and is yet more confirmation that a gym membership isn’t needed. We knew there was a reason we never did get around to signing up!
We’re just not sure we can agree with Jo’s belief that Netflix is a non-essential ‘spenditure’…
PS. Cathi, Jo – I’d definitely be interested in reading “Bouncing from one crisis to another”.
PPS. Listener, when you think this episode is over, it’s not. There’s another chuckle to be had beyond the inevitable pirate joke.
Listen to the original Coronavirus Episode here.