BEING BRITISH: BREAKING THE STIGMA WITH MONEY.

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THIS IS A PAID ARTICLE WITH HSBC UK - ALL VIEWS ARE MY OWN.

Money.

It’s the word that makes our little British arm hairs stand on edge. I’m not sure why as a culture we are so adverse to discussing our financial situation; but I don’t think I’d be wrong in suggesting it’s the one part of our lives that we keep as close to our chests (or pockets) as possible.

We are quintessentially British and in all honesty, I really do believe that our silent nature towards our finances is a massive contributor to the level of stress we feel around it.

Some traditions are made to be broken - whether it’s Meghan Markle walking herself down the aisle (hell yes for independent women), or us being proud of having that knowledge and control over our financial situation. Being British is something I love, but I’d really like to break down that stigma and get more open and honest money conversations flowing.

I think a lot of the time we’ve got our heads in the sand - if we don’t know it can’t hurt us, right? Except, when it comes to money, it really, really can.

When I was in my teens I remember never checking my bank balance; the only time I’d know I’d run out of funds was when my card got declined. Not cool Megs, not cool.

Buying a house, running my own business and having endless other financial responsibilities has really taught me just how important it is to know what’s up with my bank balance. I simply cannot afford to not know how much I’m spending and when.

And now, it’s actually something I enjoy. I like knowing how much money I have, it makes me feel good to be in control of it. I’ll happily discuss my earnings with my friends and family, because I truly believe that it gives me the perspective I need to not lose my head with worry.

We all know that money can’t buy happiness, but having a hold on it can definitely help how you feel about it.

You may remember a blog post I shared a little while back, talking about my top tips for keeping on top of it - one of them being me keeping a spreadsheet since my early twenties of my income and outgoings. It has undoubtedly shaped how I look at my finances and forced me to keep on track. Well now I have something new to tell you about - and it’s a hell of a lot easier than managing an excel document, let me tell you.

HSBC UK are working towards are more transparent future when it comes to managing our finances. They’ve got a fresh attitude, one that I haven’t seen being demonstrated before and that I’m really, really excited to share with you. They’ve created a brand new concept called Connected Money - an app in which you can access all your funds at one time. We might not always be able to access a spreadsheet, but we can definitely check our phones.

With their joined-up banking feature you’ll be able to see  your UK current accounts, some savings, credit cards, mortgages and loans all together in one spot, even if they’re with other providers. I KNOW - IMAGINE.

They’ll have a spend analysis feature, so you can see what you’re spending by category, whether it’s your food shop or holidays and you’ll also be able to see how much you could have left in your current account until payday, once all your bills are accounted for. Which essentially means they’re doing all the hard work for you - all you have to do is login to the app.

I think it’s so important that banks remove their own stigma around just banking with them and realise that actually, the most important thing is that their customers can see all of their money, not just their particular account.

I don’t currently bank with HSBC UK, but I’m now seriously looking in to switching my current accounts so that I can manage my money this way - especially now that I have a mortgage and so many other accounts on the go!

In celebration of the launch of this app, they’re also hosting a Bank Life Balance test on their site - so that you can find out your financial personality. I'm a 'Sensible Sage' (which is frankly, the best phrase ever) - taking this test helps you find out what your attitude is to money, how risky you may or may not be and ultimately enables you to have a stronger understanding of how you’re likely to manage it.

What’s your attitude to money? Take the Bank Life Balance test to find out!

CLICK HERE TO TAKE THE TEST NOW!

I can't wait to find out what your financial personality type is! YAY for opening up the conversation around money.

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