Hermoine

A steady income and great savings… coupled with debt

Miss H was earning a decent and steady income in her career as a Head of Year at a Secondary school in London. Prior to her role in teaching, Miss H had started her own business in custom design leather products. Unfortunately, during that time in 2006 there was a downturn in the economy causing a negative impact to her business and this lead to debt accumulation. Miss H decided that it would be best to instead train and transition into secondary school teaching helping provide her with a steady monthly income.

Miss H was earning a decent salary; she was also saving her money but couldn’t comprehend how she was in this tough financial situation.

I was tired knowing I was consistently in the red even though I had savings of around £6,500. I required guidance on how to utilise my money as I was in red due to overspending, paying my student loan, repaying credit card increases and receiving overdraft fees”.

 The first step

Miss H met with Neala and articulated her goals to her. With assurance she could meet her goals, Neala advised Miss H that even though she was great at saving her money, she lacked a sturdy budgeting plan where she could pay her debts and still continue to add to her savings without going into the red.

Neala highlighted possible “cracks” in Miss H budgeting and gave her some helpful hints and tips to implement. This helped Miss H solidify her financial gameplan.

Financial strategies for life

Miss H was able to keep on top of her finances, implementing her own money management strategies advice along with some of Neala’s finance educational advice.

“I had a few months where I was overdrawn by £30-£50 but was an achievement for me”

Miss H credit score increased and within the space of two to three years Miss H was able to take out a mortgage on a property for the first time.

Miss H is now confident utilising her money effectively, resulting in set personal finance strategies for life!

Would you like to learn how to take charge and manage your money more efficiently?

Create your OWN personal financial game plan now with “What’s Your Financial

Gameplan? – Workbook”. A simple and practical guide that provides you with the

tools, advice and information needed to get your finances in order and make the best of your hard-earned money.