Article by Ceri Wheeldon
Did you know that this week is ‘National Conversation Week’? Nor me until an email popped into my inbox this morning! It seems we are being encouraged to hold more conversations face to face. The chosen topic for this year apparently is Finance- something many of us don’t discuss – not even with our partners.
It is so easy to bury our heads in the sand and ignore our own finances. How many of us really know what we spend every month – and on what? And how many of us have a clear idea of what we will need to live a comfortable life in the future.
We can get so caught up in every day living that we just don’t take stock of where we really stand financially. When I first started Fab after Fifty and was asked to speak at events, women would come up to me afterwards and their main grip was feeling ignored by retailers and not knowing where to find the right clothes to buy. Today the feedback I am getting is very different. Most thought that they would be able to draw their state pension at 60 and would retire – but for the WASPI generation that is no longer the case. The main concern I have raised by readers and people I meet, is how they are going to support themselves financially . As one said- I had a plan of how I was going to pay my bills following my divorce until I reached 60, but now I have an additional 7 years before claiming my pension I feel as though I am going to fall over a cliff.
Understanding your finances is vital midlife
Understanding your finances in detail is the first step
Finance is just one of the 9 modules in the Midlife MOT programme – here’s a quick introduction to the Midlife MOT finance module. Here is a link to a brief overview of the Finance Module of the Midlife MOT programme I have co-authored. (Another of the modules help to identify your key skills and future proof your career).
It really is never too late to get to grips with your finances. In the programme we don’t offer financial advice per se- but when you complete the module you will have a complete understanding of where you are today – where you are heading- and a plan to bridge the gap or adjust expectations accordingly.
It is an extremely comprehensive module – I know that having worked through it myself I understand my own finances like never before!
We have a webinar explaining the entire programme coming u[p very soon – if you want to sign up for an invitation here’s the link.