Reddit reviews Money Diet: The Ultimate Guide to Shedding Pounds Off Your Bills and Saving Money on Everything!
We found 2 Reddit comments about Money Diet: The Ultimate Guide to Shedding Pounds Off Your Bills and Saving Money on Everything!. Here are the top ones, ranked by their Reddit score.
NewMint ConditionDispatch same day for order received before 12 noonGuaranteed packagingNo quibbles returns
From the sounds of it you have no idea what to do with the money, and have no existing savings or investment plans.
This is not intended as a criticism of you, as I reached my 40's myself with just about no plan.
However, what it means is that this £80,000 is like an immediate thing, and it should be only a component of your longterm savings and investment plans.
I.E. you need to sort out your longterm savings and investment plans first, and only then fit the £80,000 in the appropriate slot(s).
IMO you should put the £80,000 in the bank for the next 12 months. Figure o building a plan by the end of the tax year - be prepared, say, to put it all into action in March 2018.
Use www.bankaccountsavings.co.uk to maximise the interest on your savings for the next 11 or 12 months.
I think the first books you should read are Rich Dad, Poor Dad and Your Money or Your Life. IMO you and your gf should each read one of these books in the next fortnight or month, then swap and read the other. Some people get a lot out of these books, others not so much - read the criticism of Rich Dad, Poor Dad, too, but hopefully within the next 3 months or so you should be able to build an idea of your financial goals. Generally financial goals should support life goals, but it's ok to have financial goals that support open-ended life goals. Might be worth taking a look at Martin Bamford's Money Tree and Martin Lewis' Money Diet (I haven't read them, but one of the sub's mods put them in the sub's wiki, he's a financial advisor and I trust him) then dig into Tim Hale's Smarter Investing.
Read this sub everyday and ask questions about anything you don't understand.
Late replying to this, sorry! I've done a bit more research into the genre, and it seems that unfortunately most books have quite off-putting titles like "I CAN MAKE YOU RICH IN 2 HOURS JUST FOLLOW THESE THREE EASY STEPS". Once you look past the titles though, most of them are pretty helpful.
​
The only issue I've come up against is that most of them are written for an American audience, so some bits aren't relevant to me coming from the UK. This is particularly the case when it comes to jargon and certain types of bank account? Not sure where you're from obviously, so this might not be a problem. Either way, I'd definitely recommend the short leaflet, If You Can, mentioned in the comments above. If you're from the UK, it seems that Martin Lewis is the only guy out there writing on this stuff!