Money Management: Empowering Financial Literacy

Stepping outside the familiar confines of our office, we recently had the pleasure of hosting Money Management workshops at two locations in Cornwall: Newquay Orchard in Newquay and the Dracaena Centre in Falmouth.  

It was a refreshing change of scenery that allowed us to engage attendees in an exploration of their personal relationship with money, uncovering its emotional complexities while sharing invaluable insights into budgeting.

Throughout the sessions, participants embarked on a comprehensive journey evaluating their monthly, weekly, and daily expenditures. They were empowered with crucial tips to adeptly navigate their financial paths. From mastering bill management to comprehending the complexities of effective budgeting, everyone left armed with new skills and knowledge to enrich their financial journey.

The workshops were an exciting journey for all involved. Attendees enthusiastically compared supermarket offers, unravelling the mysteries of best deals and working out percentage discounts. Witnessing their surprise and excitement as they gained confidence in their financial calculations was truly rewarding. Some even ditched their calculators, showcasing their mental arithmetic skills to work out percentage discounts. Angie wisely reminded the group, “With maths, there’s no one way to do it. We can work things out using different methods and still get the same answers.”

A significant highlight was introducing the 50-30-20 rule for budgeting. As attendees dived into percentage calculations, they grasped the importance of decimals in relation to percentages, enhancing their understanding of budgetary principles along the way.

The overwhelmingly positive feedback validated the impact of the sessions. One participant expressed, “It [the session] helped me to think about things that I need to spend money on compared to the things I want to spend money on. The 50-30-20 rule will help.”

With Christmas fast approaching, discussions steered towards emotional spending and the eternal question: Is Christmas gifting a ‘want’ or a ‘need’? This festive dilemma prompts reflection on the essence of giving and receiving during the holiday season. 

Money saving expert Martin Lewis offers his opinion on Christmas gifting in the video below.

What’s your perspective on navigating this aspect of the festive period?

We are looking forward to hosting another Money Management session at the Draceana Centre in Falmouth in the new year. This time our focus turns towards making credit decisions and financially planning for the future.

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