Hi and here is the next post in the series where we interview a money blogger to find out about the money failures they had before they became money savvy. Today’s blogger is Marie.
Marie Ellis is the founder & editor of brokegirlinthecity. Having worked in entertainment bars/nightclubs), as well as film & TV, her social media accounts have been littered with photos of her on the red carpet, film premieres, & parties. She also has a penchant for cava. Having amassed a massive debt, which she has only just paid off, she also looks to offer budgeting tips, and personal finance advice, as well as focusing on wellness and life in general. It is possible to lead a fabulous lifestyle in the city when absolutely broke, she says. Broke girl in the city is a blog designed to act as a little digi-guide to help other girls out there.
We asked her a few questions to give you, our readers, the idea that it is never too late so start being wise with money matters. There is so much more to enjoy when you are wise with your handling of money and save up for later.
Would you say you have been thrifty since childhood?
I didn’t have much growing up, so when I did get any money I would spend it. I
would never spend money on expensive clothes or holidays, but my money
would go on just day-to-day living and going out.
Have you had lessons on money management in Secondary school?
None at all!
What would you say are 2 or 3 epic money fails you have had since becoming an adult?
1. Getting into 35k worth of debt! I moved to London and then had to take out
credit cards to manage, before snowballing into debt, and then taking out
2. Taking out pay day loans. What was I thinking? These do snowball and are very
dangerous and can get you into a pickle in a very short space of time.
3. Only paying off minimum payments on credit cards
Did you have a frugal epiphany? What caused it, or how did you decide to develop the frugal habit?
Yes, I was made redundant and suddenly had nothing to fall back on. I suddenly
couldn’t do anything and had to adopt a frugal lifestyle.
What are some of the things you practice now as part of a frugal lifestyle?
1. I use a spending app to manage my day to day living expenses to understand
my monthly spending habits
2. I tend to be frugal over my weekly shopping and have adapted healthier habits
3. I minimise my expenditure and have cut out subscriptions for many things!
What is the biggest saving you have made as a result of being frugal?
I have finally paid off my 25k Lloyds bank loan
Now that you are more money savvy, what 3 pieces of advice would you give to others about handling money?
1. Use a spending app. It was brilliant for me. Scary when I was seeing how
much I spent on going out but good to see my spending patterns
2. Save even just a small amount for an emergency fund
3. Keep credit cards for emergencies only
What about frugal fails? We’d love to hear a few of those too.
I just got my hair done on Treatwell as a post-birthday present to myself. A 60-pound voucher ended up costing me 160 because I was misled by the hairdressers! I’m just looking into my rights now.
Thanks so much to Marie for agreeing to inspire us today. My biggest take from Marie is this:
“Keep credit cards for emergencies only”.
What was your biggest take from this? And what steps are you taking to ensure that you live a frugal lifestyle where savings are a priority? Do let us know in the comments section below and look out for our other posts which outline the benefits of a frugal lifestyle.
Do you often manage to find deals and bargains that you would love others to know about? If, so, you are welcome to join our Facebook group where we have a growing community of like-minded individuals waiting to chat and share with you.