Thanks for tuning into this week's episode if you enjoyed it TAP the LIKE button and SUBSCRIBE to the channel 😃 P.S. You can get a FREE fractional share worth up to £100 with Trading 212, using the link in my Bio. Capital at risk
This is by far one of the most interesting conversations regarding financial conduct that I’ve ever heard. Martin Lewis is one of the most respected financial experts there is amongst the Media circles. But this podcast is is the most valuable conversations that I’ve listened to via TH-cam 👍
Thanks for the kind comments! When I was growing up Martin Lewis was definitely helpful with his advice, so I'm very honoured to hear that you find the podcast so valuable! Thanks for tuning in
This is one of the best TH-cam channels! I have only been in the UK two years and always interested in knowing and learning about current issues in my new environment, understandably. Sometimes, I ask questions from family who have been here longer, about issues I need understanding of. But this is a very great platform for me to get in depth explanations of topics! Your channel is a very good classroom for me to learn👌🏾! The teachers always break things down for me to understand. Thank you very much 🙏🏾 ♥️
Aww thank you for the very very nice feedback! I'm glad that the channel is helping you in your journey and I hope it continues in the future! Thanks for tuning in!
@savvywallet Ella was a great guest, with an awesome flair for communication. It's not easy explaining financial literacy in layman's terms. So much of the language is designed to confuse. I liked how Ella used every day examples to show how data is used - without the public knowing, to determine our credit report. So much of us, don't know what we don't know. Keep educating the public bro.
Thanks Paul! Glad that you enjoyed this episode with Ella! I agree she shared soo much useful information especially like you said in a jargon free way. Thanks for tuning into this episode I appreciate it
25:00 It's worth noting that Klarna register every purchase as a "new account" to credit agencies. So if you bought 5 separate things through klarna to pay in 30 days or over 3 months, they appear as a new credit account for each item. This massively affects your credit rating.
For this reason, I stay away from them. Would recommend a 0% purchase credit card and just pay off ASAP. Worst case scenario, Monzo flex is an option that lets you pay interest free over a max of 3 months but it still looks bad since you it will show you hold a balance every month instead of paying it off.
1st time watching and subscribed. Brilliant guest and intelligent. Great show and lots of knowledge learnt, something they will never teach in school to prepare you for the real world.❤
Thank u for this platform and this channel new subscriber. I now know exactly what to do for CCJ on my credit score from parking ticket got from my workplace NHS! which is now paid for.
Put everything on your credit card and clear the card from the following months wages. Adjust your statement date to suit this. I use an arranged overdraft to do this if I’m 2 days off being paid. This will create £1200 liquidity.
It seems like common sense to me that you pay back the overdraft before closing the account. Why would they contact you to have a conversation about the outstanding money when you have ended your business with them by closing your account, the Bank will probably be think that you are trying to avoid paying back your debt. In these circumstances it is your responsibility to call them as you are the one that has used the overdraft, so the onus is on you to explain to them what you intend to do, if you do not do this they are within their rights to default you.
And they hard search you and offer you an interest rate. You might think it’s a bit high and try somewhere else. BUT because you’ve been hard searched, the next lender sees it and you don’t get a better rate. That way the first bank makes sure it’s them that gets the business. Likewise a car salesman can’t stop you going elsewhere for a car.
I want to know more about the insurance topic concerning women please. Also, I was wondering…who is better off, the one who has a credit card and the one who doesn’t? And this is with regard to all aspects of financial life? I have been struggling with how to ask the question but I guess the point I am coming from is if you have a bad credit and it impacts you heavily when it comes to mortgage or buying a car for instance…Are you better off not having one and will the banks, for instance, if you need a mortgage, be more willing to give you money for the first time on credit because you do not have any credit history-good or bad? Am I making sense?
Thanks for your question Akoma, definitely will try to cover the insurance statistics in more depth for women in a future episode. In regards to your question the general rule of thumb is you need to have good credit conduct (as Ella says) to able to get more credit with a better deal. You don't necessarily have to have a credit card to show that you have good credit conduct. You can show this by having a mobile phone on contract or having a utility bill and making your payments on time. I hope this helps
Thanks for all this information, this is what should be taught in schools!! p.s regarding the 6yrs statute limitations, if your loan is sold to a debt recovery company, does the 6yrs start again? Thanks!!
Can we talk on car leasing vs buying? How do we balance the perks of leasing (i.e. financial planning) vs the “pay once” idea of buying upfront? Thanks for this great vid again
This was very informative. Thanks for this. Q. If you use credit weather on your card or making a purchase for an item on 0% finance and you clear the entire outstanding in one payment a day or two before the interest kicks in, would this still count as a mark towards your credit history ?
Yes, it will count positively as long as you clear it off before the payment deadline. I use 2 credit cards and I don't pay interest anymore. Thus knowledge was a game changer for me.
Good show! Just one question or somthing you should of touch up on. Since everyone likes to go for Amex but not many people like to accept amaze because of the transactional fee are high. What other credit card are good for rewards?
Thanks for the kind comment and tuning in! Yes I wanted to steer away from recommending specific credit cards as that is tailored to everyone's individual situation....however the way I like to get my credit cards is by checking which one I'd likely be accepted for. A lot the platforms these days like clearscore will give you a list of good reward cards that you're eligible for
For the people reading this. Your Credit score is virtually useless. It does not buy you a house. It does not buy you a car. With a 999 Credit score, lenders will still decline you for other factors outside your control. Cash is king at the end of the day.
@@jarugie23they don’t even take that into consideration. Credit score outweighs affordability in todays system whereas 10-15 years ago that wasn’t the case
@@jeffreynanatakyicollins101wrong, affordability is a massive weighting. Even if you have a perfect “score” lenders have to ensure you can afford the commitment.
@@shakespeare009 and another thing I’ve noticed is that creditors can register a default on your account very quickly but when you pay off a default it takes them forever to update your credit file and mark the default as satisfied for other lenders to see and for your credit file to look more appealing I don’t focus on credit scores no more it is completely useless and false
Learn to keep wealth off the banking system . Own assets and buy these assets at attractive valuations. Assets include properties, precious metals, cryptos, stocks, art etc.... keep cash for emergencies and bills. Also learn to generate income off your assets so that you can live off them without having to sell. Learn to trade , research good mentors that can teach you and this can be another nice income stream. With the financial reset coming , those who own the majority of their wealth in cash will be burnt the most.
The downsides of paying interest far outweigh the benefits of credit cards for most people. We need to go back the mentality if you can’t afford it you don’t have it or you save up for it. Borrowing at 20%+ is a no from me.
Never pay off debt, if for some reason you fall into default, once your back on your feet, don’t pay off debt in one lump, pay the monthly, reason being if you pay off the debt in one hit, it will not improve your score. Which is why credit scores are a con. To me, once you clear debt, pay bills on time your score should be reset, but it doesn’t, so why pay out a load of cash when you won’t benefit. Credit score law whatever it’s called should be changed,
Due to Law School Credit Scores don't matter. Pay everything in cash if you can. 😊 People get so mixed up about credit. I used to get so upset about this too only to realise that it doesn't matter . But its a laugh about the London water board. 😂I'm glad that I don't live in London at this time goodness. Yorkshire Water is just as bad. And if you don't get into debt they damage your credit score its totally wrong.
Thames Water yep, searched my details, landlord and bam! They made up we had talked, created a new credit agreement on my credit file, and £1008 🙇 I went ballistic! Equifax got onto them and they've removed it. Keep checking your file. Sneaky 🐍
It's obsurd that they can just check your full account history As if this is a thing now instead of sharing 6 months of statements I'd never allow this, but tbf i refuse to borrow anymore - after selling my house i'm liquid and staying this way. Why buy property that is illiquid when you can buy stocks/crypto etc and rent with complete flexibility. I'd only buy a house with cash, full stop
It can vary depending on which card you apply for and how you apply.. whether it is a personal AMEX card or a business AMEX card. They for sure do not do hard checks on Equifax reports regardless of which card you go for
*she's sounds like a parrot , she's also wrong about score and report . It's the consumer reports that makeup the score and that would mean all your consumer reports combined*
Hello. I'm not one for writing reviews however, I respected this channel and the guests it promoted. Through this episode I decided to send this woman's details to my brother as she claimed to help people and had a 100% success rate. However, she is a fraud and took my brothers money and did not follow through with her promises. Ignored his emails once money was paid. I am so disappointed, as I was the one that said go with your own and this is what she has done. Waste of time and money. Please stop promoting this woman.
Thanks for tuning into this week's episode if you enjoyed it TAP the LIKE button and SUBSCRIBE to the channel 😃
P.S. You can get a FREE fractional share worth up to £100 with Trading 212, using the link in my Bio. Capital at risk
Fantastic interview. Quite revealing and insightful. Brilliant lady. Well done🎉
This is by far one of the most interesting conversations regarding financial conduct that I’ve ever heard.
Martin Lewis is one of the most respected financial experts there is amongst the Media circles.
But this podcast is is the most valuable conversations that I’ve listened to via TH-cam 👍
Thanks for the kind comments! When I was growing up Martin Lewis was definitely helpful with his advice, so I'm very honoured to hear that you find the podcast so valuable! Thanks for tuning in
I beg you, NEVER stop doing these podcasts mi fren. Every single one is excellent - dripping with gems 💎
Thank so much for this channel, I’ve taken out critical illness cover to protect myself and my daughter future so thank you 🙏🏾
Which service provider would you suggest?
My pleasure, thanks for tuning into the podcast and supporting the channel! Glad that you got protection for yourself and your daughter :)
This is one of the best TH-cam channels! I have only been in the UK two years and always interested in knowing and learning about current issues in my new environment, understandably. Sometimes, I ask questions from family who have been here longer, about issues I need understanding of. But this is a very great platform for me to get in depth explanations of topics! Your channel is a very good classroom for me to learn👌🏾! The teachers always break things down for me to understand. Thank you very much 🙏🏾 ♥️
Aww thank you for the very very nice feedback! I'm glad that the channel is helping you in your journey and I hope it continues in the future! Thanks for tuning in!
Welcome to England!! I hope your experience is a great one. ❤🏴🏴🏴
@savvywallet Ella was a great guest, with an awesome flair for communication. It's not easy explaining financial literacy in layman's terms. So much of the language is designed to confuse. I liked how Ella used every day examples to show how data is used - without the public knowing, to determine our credit report. So much of us, don't know what we don't know. Keep educating the public bro.
Thanks Paul! Glad that you enjoyed this episode with Ella! I agree she shared soo much useful information especially like you said in a jargon free way. Thanks for tuning into this episode I appreciate it
I used to work with Ella, good to see her advancing. Excellent stuff from the both of you
aww that's amazing! She's doing great! Thanks for tuning into this episode I appreciate it!
25:00 It's worth noting that Klarna register every purchase as a "new account" to credit agencies. So if you bought 5 separate things through klarna to pay in 30 days or over 3 months, they appear as a new credit account for each item. This massively affects your credit rating.
For this reason, I stay away from them. Would recommend a 0% purchase credit card and just pay off ASAP. Worst case scenario, Monzo flex is an option that lets you pay interest free over a max of 3 months but it still looks bad since you it will show you hold a balance every month instead of paying it off.
1:23am 18-12-2024. Just deleted my Klarna. Crazy as all the settled payments still showing as opened on my credit files.
Thanks for increasing the audio volume level. Great pod as always.
This girl is amazing 🤩 another great pod💭🤝
Guy, your channel is life lesson 101. Well done
Thanks for the kind feedback! Glad you're enjoying the channel!
1st time watching and subscribed. Brilliant guest and intelligent. Great show and lots of knowledge learnt, something they will never teach in school to prepare you for the real world.❤
Welcome to the channel! Thanks for tuning into this episode I appreciate it! Glad you enjoyed it
I am so grateful that I came across this video, absolutely amazing. Both of you are fantastic. Please keep up the good work
Glad you enjoyed it! Thanks for tuning into this episode I appreciate it!
Thank u for this platform and this channel new subscriber. I now know exactly what to do for CCJ on my credit score from parking ticket got from my workplace NHS! which is now paid for.
Credit utilisation is 25% MAXIMUM, unless you want your credit score to go down some points.
Yeah but it’s really not that deep, if you’ve got credit, it should be for a reason, you don’t need to be nervous about a few points either way.
It's more important to just pay off your statement. Lenders only care if you are not paying off your credit in time or taking on way above your means.
@@BIG2hatsexactly can’t be getting penalised for using credit especially if your paying back in full don’t matter how much credit you use
Put everything on your credit card and clear the card from the following months wages. Adjust your statement date to suit this. I use an arranged overdraft to do this if I’m 2 days off being paid. This will create £1200 liquidity.
Thanks for sharing the way you do it! That's amazing! Thanks for tuning into this episode I appreciate it!
Nothing but quality….. real life gems 💎
Everytime the host speaks…. I fast forward, he is so simple.
I am learning a lot from these sessions and trying to action what's been discussed. Thank you very much for the valuable information!
Thanks for tuning into this episode I appreciate it! Glad you enjoyed it
i love you guys, thank you so much for this video + for asking the right questions 😁🥰
Thanks a lot for podcasts
This was amazing insight, super easy to digest and take the necessary actions to get back on good credit. Thanks for this episode.
Thanks for tuning into this episode I appreciate it! Glad you enjoyed it
Big up your producer the editing on this is supreme.
It seems like common sense to me that you pay back the overdraft before closing the account. Why would they contact you to have a conversation about the outstanding money when you have ended your business with them by closing your account, the Bank will probably be think that you are trying to avoid paying back your debt. In these circumstances it is your responsibility to call them as you are the one that has used the overdraft, so the onus is on you to explain to them what you intend to do, if you do not do this they are within their rights to default you.
Thank you so much for this- so insightful
Had no idea about housing associations checking your credit score
Thanks for tuning into this episode I appreciate it! Glad you enjoyed it
VERY INFORMATIVE VIDEO AND JUST NEW TO UK .. THANKS A LOT
This video makes a lllllllllllllooooooooooooootttttttt of sense. And it has answered my questions. thank you
And they hard search you and offer you an interest rate. You might think it’s a bit high and try somewhere else. BUT because you’ve been hard searched, the next lender sees it and you don’t get a better rate. That way the first bank makes sure it’s them that gets the business. Likewise a car salesman can’t stop you going elsewhere for a car.
I want to know more about the insurance topic concerning women please.
Also, I was wondering…who is better off, the one who has a credit card and the one who doesn’t? And this is with regard to all aspects of financial life? I have been struggling with how to ask the question but I guess the point I am coming from is if you have a bad credit and it impacts you heavily when it comes to mortgage or buying a car for instance…Are you better off not having one and will the banks, for instance, if you need a mortgage, be more willing to give you money for the first time on credit because you do not have any credit history-good or bad?
Am I making sense?
Thanks for your question Akoma, definitely will try to cover the insurance statistics in more depth for women in a future episode. In regards to your question the general rule of thumb is you need to have good credit conduct (as Ella says) to able to get more credit with a better deal. You don't necessarily have to have a credit card to show that you have good credit conduct. You can show this by having a mobile phone on contract or having a utility bill and making your payments on time. I hope this helps
Thank you for this. GREAT convo. 👍🏾
Thanks for tuning into this episode I appreciate it! Glad you enjoyed it
Shared 3 times very informative thank you
Thanks man really good channel 👍
So glad I came stumbled upon your channel! Really useful info. Thank you.! Well done to you both: continuer success! Subscribed.
Glad you enjoyed it! Thanks for tuning into this episode I appreciate it!
Thanks for all this information, this is what should be taught in schools!!
p.s regarding the 6yrs statute limitations, if your loan is sold to a debt recovery company, does the 6yrs start again?
Thanks!!
Thanks for tuning in! I appreciate it! It's probably best to reach out to Ella on Instagram if you can
Great episode
Glad you enjoyed it! Thanks for tuning into this episode I appreciate it!
Can we talk on car leasing vs buying? How do we balance the perks of leasing (i.e. financial planning) vs the “pay once” idea of buying upfront? Thanks for this great vid again
Thanks for tuning into this episode I appreciate it! I can definitely add that to the list to talk about
Long story short: Cash > HP > PCP
Wow amazing stuff very helpful thank you
Glad you enjoyed it! Thanks for tuning into this episode I appreciate it!
Very informative
This was very informative. Thanks for this.
Q. If you use credit weather on your card or making a purchase for an item on 0% finance and you clear the entire outstanding in one payment a day or two before the interest kicks in, would this still count as a mark towards your credit history ?
Yes, it will count positively as long as you clear it off before the payment deadline. I use 2 credit cards and I don't pay interest anymore. Thus knowledge was a game changer for me.
Everything single thing to do is on your credit history mate
Good show! Just one question or somthing you should of touch up on. Since everyone likes to go for Amex but not many people like to accept amaze because of the transactional fee are high. What other credit card are good for rewards?
Thanks for the kind comment and tuning in! Yes I wanted to steer away from recommending specific credit cards as that is tailored to everyone's individual situation....however the way I like to get my credit cards is by checking which one I'd likely be accepted for. A lot the platforms these days like clearscore will give you a list of good reward cards that you're eligible for
For the people reading this. Your Credit score is virtually useless. It does not buy you a house. It does not buy you a car. With a 999 Credit score, lenders will still decline you for other factors outside your control.
Cash is king at the end of the day.
Yes and No. It's your "Affordability Score" that really matters.
@@jarugie23they don’t even take that into consideration. Credit score outweighs affordability in todays system whereas 10-15 years ago that wasn’t the case
Nope. Cash isn’t king, times have changed.
@@jeffreynanatakyicollins101wrong, affordability is a massive weighting. Even if you have a perfect “score” lenders have to ensure you can afford the commitment.
@@shakespeare009 and another thing I’ve noticed is that creditors can register a default on your account very quickly but when you pay off a default it takes them forever to update your credit file and mark the default as satisfied for other lenders to see and for your credit file to look more appealing I don’t focus on credit scores no more it is completely useless and false
Shesssssss amazing thank you ❤
Another top notch video knowledge thank you your channel so underrated
Aww thanks for the kind words I'm glad that you're enjoying the podcast episodes! I appreciate it!
I have watched a few Podcast now , but this women Yea on this show are so Beautifully Dressed , you can tell this ladies are Professional .
Learn to keep wealth off the banking system . Own assets and buy these assets at attractive valuations. Assets include properties, precious metals, cryptos, stocks, art etc.... keep cash for emergencies and bills. Also learn to generate income off your assets so that you can live off them without having to sell.
Learn to trade , research good mentors that can teach you and this can be another nice income stream.
With the financial reset coming , those who own the majority of their wealth in cash will be burnt the most.
Essential knowledge.
100% financial literacy is key!
Cant lie bro you might wana add sfx dec for your podcasts when you announce your guest, will make em feeled valued a little more.
Not a bad idea. Sound effects will defo add some bit to the introductions.
That's interesting feedback....at what point would you add the sfx dec and what kind of sound? I'm not too familiar with it tbh
The downsides of paying interest far outweigh the benefits of credit cards for most people. We need to go back the mentality if you can’t afford it you don’t have it or you save up for it. Borrowing at 20%+ is a no from me.
Just found this channel, I'm locked in and engaged. Keep it up 👍 new sub.
Thanks for tuning into this episode I appreciate it! Glad you enjoyed it
Ill take that Sainsbury's tho
Never pay off debt, if for some reason you fall into default, once your back on your feet, don’t pay off debt in one lump, pay the monthly, reason being if you pay off the debt in one hit, it will not improve your score. Which is why credit scores are a con. To me, once you clear debt, pay bills on time your score should be reset, but it doesn’t, so why pay out a load of cash when you won’t benefit. Credit score law whatever it’s called should be changed,
My bank app has a credit score. It tells me it's excellent, how much can I rely on this compared to the 3 credit score checkers mentioned?
It can be trusted as the bank will usually partner up with an agency like TransUnion or the like for example to conduct the check on your behalf.
Usually Transunion. More lenders use Transunion than they used to.
You should have asked where to get a good credit card from
Due to Law School Credit Scores don't matter. Pay everything in cash if you can. 😊 People get so mixed up about credit. I used to get so upset about this too only to realise that it doesn't matter . But its a laugh about the London water board. 😂I'm glad that I don't live in London at this time goodness. Yorkshire Water is just as bad. And if you don't get into debt they damage your credit score its totally wrong.
Thames Water yep, searched my details, landlord and bam! They made up we had talked, created a new credit agreement on my credit file, and £1008 🙇 I went ballistic! Equifax got onto them and they've removed it. Keep checking your file. Sneaky 🐍
Hi!❤
Hello!!
Lets get down to the nitty-gritty.. errr what is the fastest way to get rid of a CCJ?
Fill out an n244 form and send it back to court. It’s online when you search for it.
A credit score is a score on how well you manage debt. Credit cards shouldn’t be celebrated.
Shout out to all of the ex phone shop workers from the UK
It's obsurd that they can just check your full account history
As if this is a thing now instead of sharing 6 months of statements
I'd never allow this, but tbf i refuse to borrow anymore - after selling my house i'm liquid and staying this way.
Why buy property that is illiquid when you can buy stocks/crypto etc and rent with complete flexibility.
I'd only buy a house with cash, full stop
Everything you’ve said is the opposite of what you should do 😂
@@BIG2hats lol I think you mean it's the opposite of what you've been taught to do.
Don't you think the banks are thieves. .
Well I do think so
QUESTION. what credit reference agency does AMEX use please ??
It can vary depending on which card you apply for and how you apply.. whether it is a personal AMEX card or a business AMEX card. They for sure do not do hard checks on Equifax reports regardless of which card you go for
👍👍
6years is the limit however I got mandem asking me for money 10 years after
📌💎
*she's sounds like a parrot , she's also wrong about score and report . It's the consumer reports that makeup the score and that would mean all your consumer reports combined*
Hello. I'm not one for writing reviews however, I respected this channel and the guests it promoted. Through this episode I decided to send this woman's details to my brother as she claimed to help people and had a 100% success rate. However, she is a fraud and took my brothers money and did not follow through with her promises. Ignored his emails once money was paid. I am so disappointed, as I was the one that said go with your own and this is what she has done. Waste of time and money. Please stop promoting this woman.
Insurance is a scam
Credit score is bullsh*t it’s woke. If you want financially freedom crypto. Crypto is the future
Look at the countries that have credit scores
he is lovely speach she sound like croydon Council house state girl 🤮
...and? Does it mean she's not qualified to speak?
Thank you so much for this
Thanks for tuning into this episode I appreciate it! Glad you enjoyed it
This was absolutely brilliant, so clear for me to understand. I sent this link to family members to listen too. Excellent ❤
Glad you enjoyed it! Thanks for tuning into this episode I appreciate it!
I need a Lady her❤😅🫶🏿👌🏿🔥