My name is Clarence Kuyoro also known as CK Talks Money on social media. I’m a final professional with 9 years of experience in the financial industry across banking (retail and business), mortgages, financial regulations and investment management. I have a passion for helping people better their financial health which is why I started my Instagram page in the first place. I am always open to helping people as I too from experience know how hard it is to better your finances if you don’t know how to!
I got the prudent analyst and I think the results are quite accurate
What Inspired me was that I have a host of knowledge and have also made my own financial mistakes. I felt that I would be doing a disservice to society if I didn’t share my knowledge which I know can help people!
My relationship with finances was historically quite bad and once I realized this I used my adviser experience and knowledge to better my situation. This came into play when improving my credit score and savings/budgeting.
My new relationship with finances has helped me pursue goals more successfully and also be more organized with my finances.
Changes I’ve made include me using apps to track my finances to ensure I stay on top of them. I also have an accountability partner who I speak to about my goals and where I am vs where I need to be.
These changes have been very intense but overtime have done me a great deal of good!
The worst advice I have ever received is that all debt is bad! All debt isn’t bad, as you can imagine buying a property which is an asset also includes a debt if you opt for a mortgage. I believe debt can be good if managed properly.
I think it is better to buy as this gives you an asset and something that can make you money in future. Of course everyone’s circumstances are different but if given the option I believe owning a property is better.
I think it’s extremely important, I previously did a video in November around MOVEMBER and mental health and it was evident that finances can lead to and also worsen one's mental health. I’ve also seen this happen amongst my peers in recent years.
I am currently working towards building an investment portfolio and the steps I’ve taken are opening a trading account and using Freetrade to get involved in investing money.
I would advise having a clear picture of your goals and what needs to be done. I would also say speak to someone (like me) about your goals and how they can be achieved. I would also say to have a constant reminder of what the goal is and the steps needed to achieve it!
Tip 1: Credit cards aren’t bad. Just ensure if you have one that you’re only using 20-30% of your credit limit. This will eventually increase your credit score.
Tip 2: When looking for a mortgage USE A BROKER! They can give you various options around the market and aren’t limited to a specific lender.
Tip 3: If your budgeting consider using an app like Monzo to track your finances! From experience a visual representation always helps!!
I have current accounts and credit card. I bank with Lloyds and my credit card is with AMEX, nationwide and Barclays
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