Developing our financial awareness with the Just R team

Jenna Whistlecraft, Junior PM here at Just R, gives her take on our talk with Rachel Bell Wealth Management

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In today’s world, the topic of money and personal finance is everywhere, it saturates the media headlines, social conversations as well as our own thoughts. In homage to Liza Minelli, she wasn’t wrong in her 1966 rendition of ‘Money makes the world go around’. That being said, here at Just R, we are being armed with new financial literacy tools to support us in making smart, secure choices in our own finances.

The power of virtual connection…

On Friday, all staff at Just R were invited to attend a financial well-being skillshare with Abigail from Rachel Bell Wealth Management, to delve into the murky waters of personal finance. An often taboo subject, that many of us at some point or another have felt uncomfortable discussing. Having Abigail join us virtually, with each of us connected via our individual screens from our locations across the UK, facilitated a level of distance from the potential embarrassment of discussing finances. Abigails’ wonderfully kind and patient manner felt like she was talking to each of us individually, and allowed each of us at Just R to relax into the topic. 

Given that the majority of our team are under the age of 30, it is an ideal time for us to get clued up on finances. We are all aware of the lack of education we typically receive on the subject throughout life so it is excellent for Just R to offer the team here some knowledge within the workplace.

The skillshare started with some brief figures around finances. We initially learned that around 74% of people in the UK have been so stressed about money in the past year, so much so that they’ve felt overwhelmed and unable to cope. Insight which resonated with many of us in the office, either through either personal experience or circumstances of a loved one.. 

Abigail then moved on to how we could start organising our own finances. She discussed the benefit of having multiple accounts; ‘in pocket’ cash, a current account, a joint savings account (if you have a partner) and an individual savings account. She advised that these would help prepare you for your everyday spending as well as any medium and long-term savings goals. She encouraged us to spreadsheet our ingoings and outgoings in order to recognise any regular spending that is potentially unnecessary and could go into personal savings!

“Once you learn how to manage money, it gradually becomes something you have to worry about less and less and” that was the aim in working with Abigail and the team at RBWM to support the team here at Just R.”

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Our main take-aways…

Abigail then guided us through tackling more medium and long-term solutions to ensure a healthy financial future. We discussed the pros and cons of premium bonds and the different types of ISA’s as well as the benefits of starting a pension sooner rather than later. She touched upon the benefit of income protection and critical illness insurance, something that many of us at Just R had never heard of, let alone considered as a way to protect ourselves. 

The general consensus from the staff at Just R after the meeting was that it was beneficial to us all in more ways than one. Some took away more information than others but we all felt armed with more knowledge about how to conduct our finances.

It’s something the Just R leadership team are fully on board with, ensuring our teams have the tools needed in order to create true life balance.

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Rachael Bagshaw Founder & CEO

I would absolutely recommend providing financial education for your people to leaders of organisations large and small. Particularly those with substantial pension contribution expectations, like the NHS and other public sector organisations as it's so difficult to get people to value something they don't fully understand.

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