Financial Matters

With David Frederick FCCA | Marcus Bishop Associates | marcus-bishop.com

UK Strategy for Financial Wellbeing

Are you aware of the UK Strategy for Financial Wellbeing? The UK Strategy for Financial Wellbeing is the ten-year framework which will help achieve the vision of everyone making the most of their money and pensions. The five goals that it seeks to achieve by 2030 are:

• 2 million more children and young people getting a meaningful financial education

• 2 million more working age ‘struggling’ and ‘squeezed’ people saving regularly

• 2 million fewer people often using credit card for food and bills

• 2 million more people accessing debt advice

• 5 million more people understanding enough to plan for and in later life.

It was against this backdrop and the current financial environment that some local residents and visitors to our locality were canvassed for their memorable financial advice lessons.

Local business advisor, Lawrence holds onto the financial lesson from his mother who ran a retail/wholesale business for 25 years. “I was told to keep a tight grip on my finances and never spend beyond my means.” An oldy but a goody as such a gem has never gone out of fashion irrespective of the loud noises around about spending.

Local HR Consultant, Edua shared a similar parental lesson from her parents and her youth. “Saving for a rainy day has become instilled in me.” Perhaps with such deep entrenched lessons our mini focus group are already championing the themes and goals of the UK Strategy for Financial Wellbeing.

It is difficult to comprehend with such traditional financial lessons how we have arrived at where we are today. Jackie, a local accountant had a great ‘aha’ moment around 2007 when working in the city, “the company I worked for was terrible at managing their money, so I put a budget in place and realised I needed to follow the same formula.” Since that moment a budget has become a mainstay of Jackie’s financial education and management tool. Jackie sings the virtues of a budget, “I now control my money and tell it where to go. A budget is not restrictive but puts you in control.” This so fits in with the fifth goal of our UK Strategy for Financial Wellbeing.

Orin a retired business adviser, recalls the financial education of his teens from his father, “if you have one pound, save fifty pence.”

This even betters Mr Micawber’s advice in David Copperfield. Orin said, “his father’s lesson has provided the building blocks to his understanding of financial literacy. The more you have the more choices you are able to make; for savings unlocks the ability to make choices whether to spend or to save more.”

Life strategist and Coach, Beverley shared her most memorable financial advice from her accountant, “don’t allow anyone to pay you in cash directly. Always invoice them and get them to pay the money into your bank account.”

With such rich lessons from within our local community perhaps we are well on our way to achieving the UK Strategy for Financial Wellbeing by 2030. Our local contributors shared the following financial tips:

• have fun making money and spending it (but within your means);

• budget, as it puts you in control;

• whether you are employed or in business monitor your cash flow;

• learn how the stock market works because all the money you have is governed by it. Perhaps the challenge for our financial wellbeing was best echoed by local business adviser, Lawrence, “our beliefs around money rather than money itself can be problematic.

Quite a few of us hold subconscious beliefs about money that are self-limiting, ‘money is hard to come by’ ‘there’s not enough to go around’ ‘we never have enough’. Once we chuck out these old beliefs our relationship with money changes, becomes more fruitful and enjoyable.” Time to reflect as we fast approach 2030.

Dulwich Festival 12th-21st May 2023

Dulwich Festival, 12-21st May, is celebrating 30 years of community-focused, arts-based fun!

Presenting over 60 carefully curated ticketed events in literature, theatre, comedy, art, history and music, the festival also hosts Artist Open House, multiple fairs, open days, markets and competitions in film, fiction and art. Providing a platform for creatives of all ages to showcase their talents and share their knowledge, this year’s line-up offers the abundantly creative London community a comprehensive range of options, many of which are free and family friendly!

Adam Kay, hilarious and best-selling author of This is Going to Hurt will headline Literature, with a talk on his follow-up book, Undoctored, whilst local and Costa Prize-winning novelist Caleb Azumah Nelson will talk about his new book, Small Worlds, exploring the intimate relationship between father and son. Demonstrating delicious one-pot meals, Rukmini Iyer, author of the Roasting Tin series will tantalise tastebuds with tips from her most personal book to date, India Express. Bellies will also be full of laughter at the pub-based Comedy Club, featuring internet sensation Kieran Hodgson, multi-nominated and award winning Sikisa and globally acclaimed comedy double act Max & Ivan. For the musically minded, authentic soul jazz heavyweights The Filthy Six and legendary jazz tenor Jean Toussaint will head the Festival Jazz Club at the EDT on Lordship Lane, whilst an all-female line up of singer-songwriters will delight audiences with country, folk and blues in Herne Hill, Under the Tree. Britain’s biggest boyband, The London Gay Men’s Choir will educate, inspire and entertain, whilst acclaimed classical duo, Sara Trickey and Daniel Tong, will offer a more intimate concert at Dulwich Picture Gallery. To ensure no one feels left out, everyone is invited to sing their hearts out at workshops at the Christ’s Chapel or with the Dulwich Choral Society at St Barnabas Church. If the great outdoors is your preference, there are wildlife walks with the London Wildlife Trust, Street Art Walks across SE21, SE22 and SE23 and guided Georgian architecture walks, too. Fascinating local historians will also lead tours around Dulwich to highlight social radicals including Frida Knight, Alison Neilans, Alice Harris and Alice Vickery. For families, there are Fairs a-plenty at Goose Green, Dulwich Park and West

Dulwich, each hosting fun-filled days packed with stalls, rides, games, performers, food and drink. Young people and kids will love the huge range of accessible activities, offered in conjunction with Kingswood Arts! Expect film screenings, Parade in a Day, Family Fiesta and a Carnival Day! If none of this strikes a chord, perhaps a ceilidh, markets, a bike-powered rendition of Romeo & Juliet, sustainability talks, organ playing, a Sinfonietta concert, a nature play teddy-bear picnic and competitions in art, film and fiction will! Full listings and tickets can be found and purchased on the Dulwich Festival website now: https://dulwichfestival.co.uk

Of course, Artist Open House (AOH) is a highlight of the festival, providing a space for 800+ artists to share their talents. Drawing a significant connection between artist and community, AOH presents a unique opportunity to purchase locally produced and affordable art, across multiple medias.

This year, there have been unprecedented entries from artists spanning SE5, SE15, SE21, SE22, SE24, SE23, SE26 and SE27. Figurative sculptor Catherine McLeod, has been selected as the cover artist for the Festival Catalogue and Guide this year. Capturing the human form, her work celebrates the journey and curiosity that life presents – a perfect representation of Artist Open House 2023! Don’t miss portrait artist Sam Barnett, recently commissioned by the BBC and Children in Need to produce a portrait of King Charles for the Coronation, and sculptor Sarah Tombs, who has produced eleven sculptures for hospitals across the country, including Hammersmith. Free catalogues for AOH will be available in independent shops, cafes and venues across South London by mid-April, but visitors can also plan their day and route by visiting: https://dulwichfestival.co.uk/artists-open-house/