The Guardian

‘With a small son, I needed more informed decisions’

Nick Seagrave, 36, who lives in Cornwall and works in digital marketing, ended up changing careers after a few sessions with a money coach helped him gain a better picture of his financial situation.

“I got to a stage in life where

I felt I needed to make some slightly more informed decisions about money with a third party, as opposed to doing it off the cuff.

“I got married, had a little boy, joined everyone else with a mortgage and started to think more about the importance of saving, being careful and planning for our future and that of our son.”

Nick used the Claro financial coaching app to book a free consultation, had a few sessions and found them helpful.

“I was aware of financial advisers, but they felt a bit far removed from me and my personal circumstances – they sounded serious and expensive.

“I like to do my own research, look after my own money, but I wanted someone to check my working and steer me in a particular direction.”

At the time, he was selfemployed but with a dependant child, and wanted to think more carefully about his salary. The coach got him to work through a budgeting exercise, dividing up income into essential bills, discretionary spending and saving.

“What we realised was that in order to save, we actually didn’t have enough income as a pair.

Ultimately, I decided I needed a new job.”

He says he would definitely seek out some coaching again at a different stage of his life.

“The process of booking the appointments, getting them in the diary, having to do some homework, got my arse in gear to actually do it and take action. I think financial advice and literacy should be available to many more people – I don’t understand why it’s not part of the curriculum when it’s so fundamental to how we operate.

“I would advise anyone to seek some money coaching. I consider myself as more on the front foot as a result than many of my colleagues and peers.”

Companies such as Claro say they can help people achieve their goals and get answers to questions such as whether they are putting enough into their pension, how to save for their first home and the best ways to get started with investing.

Money

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2023-03-25T07:00:00.0000000Z

2023-03-25T07:00:00.0000000Z

https://guardian.pressreader.com/article/282243784843355

Guardian/Observer