69. Buy now pay later (BNPL) with Sara Williams

03/06/23 • 40 min

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We're joined by the fabulous Sara Williams aka @debtcamel in this episode to take a closer look at BNPL.
We'll be looking at:

How it can be used in a good way
Is it better than a credit card?
What if you're thinking of getting a mortgage
Can it help build your credit score? Or does it harm it?
Are you pretend 'adulting' with BNPL?
The pitfalls of using multiple BNPL schemes and how to manage them
And what may change in the future with the introduction of regulation

If you are looking for some tips on how to manage your money check out episode 26 about budgeting.
💥UPDATE: since recording, Klarna have announced they will begin charging late fees from 16th March 2023💥
GUEST EXPERT
This week we are joined by Sara Williams aka Debt Camel. Sara is a debt expert having been a debt adviser for over 20 years. She set up Debt Camel in 2013 to write about what really matters to people who have a debt problem and to talk about the common questions that get asked.
Website: debtcamel
Instagram debtcamel
YOUR HOSTS
Julie Flynn is an experienced independent financial adviser and financial coach. Justice and equality drive Julie. Which is why she’s spent years studying and researching how stress affects our financial decision making.

Julie is best known for her work with women who have lost their partner and coaching financial services business who want to implement fair and transparent charges.
Ebb & Flow Financial Coaching | Bree Wealth & Tax | Instagram
Cafe Expert:
Jennifer O'Neil is a mortgage and protection specialist and director of Athena Mortgages. Having been in the industry since 2014 Jennifer decided to set up a company in 2020 that suited her core values as a broker – integrity, service, honesty and continuous improvement.
LinkedIn | Instagram | Facebook

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✅ And if you enjoyed the show, please leave us a review.

We genuinely love hearing your questions and feedback.
So, email us a voice note [email protected] or via instagram with your thoughts and suggestions.

We're joined by the fabulous Sara Williams aka @debtcamel in this episode to take a closer look at BNPL.
We'll be looking at:

How it can be used in a good way
Is it better than a credit card?
What if you're thinking of getting a mortgage
Can it help build your credit score? Or does it harm it?
Are you pretend 'adulting' with BNPL?
The pitfalls of using multiple BNPL schemes and how to manage them
And what may change in the future with the introduction of regulation

Support the show

Previous Episode

68. Messy Mortgages

Buying a house is one of the biggest purchases of your life. So it makes sense that it can be a little stressful.
An extra layer of complexity get's added when you haven't different financial circumstances to the person you are buying with. That could be a host of reasons. Second (or third or fourth) relationships, one of you has inherited money, one of you earns more than the other.
In this episode we're tackling the questions you sent in when we asked you about your less than straightforward mortgage situations.
You asked us how to handle buying a house when:
1. Someone has a bigger deposit.
2. That money was gifted.
3. One earns more than the other.
4. What if you want different mortgage terms?
5. What if one of you want to overpay?
Jennifer was on hand to handle the technical questions. As with everything though, communication is key.
If you're entering into a process of spending hundreds of thousands of pounds, it makes sense to sit down and have a conversation about what money means to you and what the home means to you. What are your expectations? Today and in the future.
A key takeaway was being prepared for the fact that things change. You may have vastly different financial circumstances today, but that may not always be the case. Roles may be reversed. Keep checking in with each other financially, and create a space to have open and honest conversations.
Check out episode 27 The Art of Sharing Finances for more tips.
And check out Jennifer's first appearance on the podcast back in January 2022 episode 10 Everything Mortgages
YOUR HOSTS
Julie Flynn is an experienced independent financial adviser and financial coach. Justice and equality drive Julie. Which is why she’s spent years studying and researching how stress affects our financial decision making.

Julie is best known for her work with women who have lost their partner and coaching financial services business who want to implement fair and transparent charges.
Ebb & Flow Financial Coaching | Bree Wealth & Tax | Instagram
Cafe Mortgage Expert:
Jennifer O'Neil is a mortgage and protection specialist and director of Athena Mortgages. Having been in the industry since 2014 Jennifer decided to set up a company in 2020 that suited her core values as a broker – integrity, service, honesty and continuous improvement.
LinkedIn | Instagram | Facebook

Support the show

Next Episode

70. Atomic Habits for Your Money

Atomic Habits for your money

Have you read James Clear’s book, Atomic Habits?
Its about the power of making small changes and the cumulative effects it can have. Compounding in action if you like.

We wondered what would be possible if we applied his principles to money.

Whether you want to build a savings habit, or need to get on top of the bills as they come in, we’ve got you covered.

The 4 steps of building a habit
Habit stacking
Making it pleasurable
Track those habits

If you want a copy of Julie's spreadsheet that turbo charges your money, drop her a message on instagram.
https://jamesclear.com/
Habit App
YOUR HOST:
Julie Flynn is an experienced independent financial adviser and financial coach. She’s spent years studying and researching how stress affects our financial decision making. She uses her years of experience and research to support women experiencing or planning significant change in their lives.
Ebb & Flow Financial Coaching | Bree Wealth & Tax | Instagram
Cafe Expert:
Michelle Lambell started her career in financial services as a Stockbroker in 1999 undertaking both advisory and discretionary investment management. Today she is a Chartered Financial Planner, specialising in retirement planning advice, pensions and investments and a Certified Financial Coach. Website