Bad money decisions

We hope you have your snacks and drinks at the ready for this month’s episode because it’s a funny one! In this episode, Cathi and Jo talk about non-fungible tokens (NFTs), debt and bad money decisions. We also have a special guest on the show, Karla Edwards also known as The Protection Parent, who will be talking about her expertise in protection, running her own business and her views on the importance of financial education.

First things first – we have some great news… We have been shortlisted for the Investment Marketing and Innovation Awards under the category ‘Best Podcast – New’ (Whoop!). We have our fingers and toes crossed for when they announce the winner on 16th July, but we are ecstatic to be shortlisted and it really feels like an amazing achievement – Thank you everyone for supporting us!

So, this month’s episode! Cathi and Jo delve deep into their thoughts on the future of finance and the encouraging prospects of new people being introduced into the industry. They chat about the positive outcomes that this will unravel and the hope that a new generation of people that enter into financial services may bring a fresh perspective to help change the industry for the better. The Grad Scheme, the brainchild of The Verve Group, was mentioned as an exciting gateway into financial services and it’s currently playing a huge part in the industry, by training people with no experience in finance, a turning them into qualified Paraplanners and Compliance Support Officers – not to mention the other roles we have in the pipeline!

Cathi and Jo discuss the rise in popularity for non-fungible tokens (NFTs) as the market for NFTs has risen to a whole new high in terms of how much money people are spending on them. If you want to find out what exactly an NFT is, check out That Mint Meanings at the end of the blog. Here’s a question for you – how much money is the first-ever tweet worth? Jo reveals the answer in the episode and the first one to comment the answer on our Instagram or Twitter will get some big brownie points (and maybe a cheeky something in the post too…)

The next segment focuses on debt and how the government have put into place different schemes for those people who need help. Cathi and Jo explain that it’s always wise to face your problems head-on, instead of ignoring them and dealing with them by yourself and potentially making things worse. If you need any help with debt, click on this link to direct you to the UK government website and it will explain the different avenues you can take to help you with it. Cathi uses a great example when she was setting up her first company Para-Sols, and how her income and outgoings were all over the place. She explains how she dealt with that situation, and the solutions that are there to help people who are in a similar situation. I’ve recently created a budget plan to help me with finances and it has made a big difference. It really helps me to keep on top of my income and outgoings and helps with my cash flow – I also didn’t realise how much I spend buying Costa coffees, maybe I’m spending too much time with Cathi?!

A little further into the episode, Cathi and Jo stated that most of their bad decisions were made whilst drunk (I think we’ve all been there). Have a listen to hear all about Jo’s Greek proverb and a load of crazy stories from people in the office regarding their own bad money decisions. We’re talking buying oxygen for £5, football season tickets and the dramas of investing in cryptocurrency. Let’s just say I’m glad I wasn’t asked the question.

Finally, we were very excited to speak to our special guest, Karla Edwards (@theprotectionparent), who talks to Cathi and Jo about running her own protection business and hosting her own podcast. Karla is a parent who focuses on teaching her children the value of money and how important this is so they can easily understand things such as pensions, mortgages and investments in the future – all of which can seem like a minefield if you don’t know the basics. Have a listen to hear her thoughts. What do you think we can do to teach finance from a younger age? Do you think it should be in the school curriculum?

So that’s it from me this month, it’s been a great episode to listen to and we hope you enjoyed it. We would like to say a big thank you to Karla for being our guest this month, please check out her podcast ‘Money Making Mothers’ and her website here. I’m off to enjoy the weekend with an alcoholic beverage in a beer garden somewhere and will try not to make any bad money decisions of my own. Don’t forget to rate, review and subscribe on all our podcast channels and if you want that #1 fan status, share with a friend who might be interested!

Just a little reminder, The Verve Group’s mission is to push the industry into a direction that includes more opportunities for people that are looking for work or a change in career. Cathi and Jo know how important it is to encourage the next generation to consider a career in finance to keep the industry fresh with new ideas – don’t you agree? If you want to see what vacancies they have on offer, check out the website here, I think you may be surprised at how many spaces we have to fill.

P.S. – Don’t forget you can use our Audible link below to get yourself a free 30-day audiobook trial…

That Mint Meanings!

NFTs: NFT stands for non-fungible token. An NFT is a digital asset that represents a real-world object like, for example, the “Charlie Bit My Finger video”. NFTs are bought and sold online, frequently with cryptocurrency, and are generally encoded with the same underlying software as many cryptocurrencies.

Debt: Debt is an obligation that requires one party, the debtor, to pay money or other agreed-upon value to another party, the creditor. Debt is a deferred payment, or series of payments, which differentiates it from an immediate purchase.