The Vault with Financielle - "He Wants One Joint Account — I Have 10 Sinking Funds” | The Vault Episode 126

Episode Date: July 23, 2026

When two very different money personalities move in together… something's gotta give 👀This week's dilemmas:💸 "He Wants One Joint Account for Everything — But I Have 10 Sinking Funds and I Cannot Give Them Up"💸 "I Earn a Good Salary, Own 2 Rental Properties, and Still Don't Know What to Do With My Money"Got a dilemma that's been living rent-free in your head? Share it (totally anonymously 🤫) in the Financielle app community or email [[e-mail]] 💌You don't have to figure this out alone. More honest money chat at financielle.com 💖💸Connect with our Partner🫶 Protect yourself and loved ones with our friends at Lifesearch ** The above is a tracked link, which tells our partner we sent you and may in future result in a payment or benefit to our site.

Drop everything. The McDonald's Creamy Parmesan and Bacon Quarter Pounder is back for a limited time. So juicy, so cheesy. This burger demands your full attention. Made with 100% Canadian beef, topped with the Creamy Parmesan and Black Pepper Sauce, Hickory Smoke Bacon and Crispy Onions. Oh yeah.

Try the Creamy Parmesan and Bacon Quarter Pounder today or treat yourself to your Dreamburger lineup with our original Quarter Pounder with cheese or Quarter Pounder BLT. At participating McDonald's restaurants in Canada, product availability varies by restaurants. Prime presents perfect pairing. What pairs with Reacher on Prime? Reaching for a sparkling punch delivered with Prime.

You can enjoy a punch just like Reacher. Entertainment meets fast delivery. It's on Prime. Welcome to The Vault with Financial. This is a safe space where we talk all things, life and money and no topics are off limits. Hello, everybody. Hello. Good morning.

Good morning. She's pretty in pink. Yeah, love for pink. Actually then I looked at you and went, no, she's not. she's in grey but you mean she's got Laura's got notes on how Lucy and I dress on this pod and she's absolutely right

we like to blend into the sofa which is not helpful it's also nearly the end of July wearing jumpers I keep looking back at you keep wearing literally the same colour as each other and then I can never use that as an option because black feels a bit much

and that's my other colour so I do yeah once in a while this is very fine and shall pink a nice little sum a knit that should have been our merch not this What were we thinking? Literally the same as the sofa. So actually have some new sourd lighter soft launch this week to help everyone adjust maybe a little bit. Is that yourself?

You're talking to yourself? Yeah. This is penultimate the right word? Yes. This is my penultimate podcast episode. Oh no. Unless you invite me back as a guest. And why is that?

I am leaving financial. People won't believe anyone that's been here from the beginning. I know, sorry, what? I think cars will have pulled over right now and gone. What? What do you mean Robbie left the band? Oh no, that's old people.

Sorry, like, what's the who did left? Zane left one direction. You're not Zane, don't worry. You're not saying. You're not saying. You're never, never complained of it. Oh, no, you are leaving Finan Shell. have been an OG with us from the very beginning face of the Vault podcast, hair influencer,

pyjama influencer, mugsing gown, dressing gown. Maybe that's what she's leaving today. Yeah, no, that's my legacy. It's such a sad time, but also we're super, super proud of you. So obviously, we talk on this pod all the time about could we get so many career dilemmas and so many, so many questions around like jobs. Sometimes it's about pace. Sometimes it's about commute and quality of life. And sometimes it's about, you know,

whether you want to push yourself or not. And we always give straight answers. And so we couldn't be more proud of you. You know, you have been with us for a while. And we, we're at, like,

we weren't the only people that have what you've ever worked with. I know. I don't know people know that. And we have mentioned it on a few pods. If anyone's, like, fairly new to the scene, like,

give us your career rundown. date this. So you'll all agree with us that if you're a little bit older and you've got a bit more life experience, like how important it is to go out there and try something new and stretch yourself. Like, not that you're comfortable here and like, where there's always a new challenge around the corner, but like I feel like you've nailed this. Like you've done incredibly well.

So it's only natural that you go and find something new. And obviously we're devastated and we don't want to lose Lucy. But at the same time, we really care about Lucy and we want to thrive and grow and be with people that are experts in different fields and like, experience new things and you need we said you need to blow shit up don't we yeah I don't cope well with change which I think is the

key reason why I've done this because I'm like I need to throw myself into the depend otherwise like there's no other I'll just I'll be on this podcast 90 years old you might be coming back on a rotation

because never say die attitude in a financial but it is that like lots of I think, I'm not going to say our old audience, I mean like our age audience enough, but everyone will be nodding going, like, because they'll feel like they're, they are friends with you because they listen to you every week. They'll be going, yeah, she does, she needs to. And, you know, I don't like saying this as well, but sometimes you got to do jobs you don't like, do jobs you like, do jobs that scare you a bit, do jobs that make you feel uncomfortable,

do jobs that bore you as well. It's all life experience. And in a few years, you'll be like, I'm so glad I did that because it led me to this. And when you look back at your career, it's never, like, straight, it's always like this squiggly line of like experience and you wouldn't have had that if you'd have stayed. So selfishly like we're obviously gutted but we're also we really care about it. We're really happy that you're going to go and do something new. So we wanted to stop launch it because there's nothing worse, I think, than having like a

cliffhanger on the last episode next week. I'm really upsetting everybody and you all being with those. Peace out. Yeah. Maduro. Good luck. Imagine if she'd have told us on the last episode that. That would have been bruce. Like, at least we've had time to process it. And you see the TikToks and it's like film the girl's trip, but it's a reality TV show, it would have been like that.

Oh my God. Oh, that would have been so good. Sorry, what? Like walking out on a like real housewives, like Andy Cohen vibes. Like, I'm gone. I can't do this. Yeah, yeah. We could have followed you out in the studio with a camera.

Yeah, no, it is a soft launch. So everyone listening, we're obviously all very sad. We'll do a, we'll do a whip round. Like, we'll send a link about, like, do it's running to work. She got, I'm retiring at you. because everyone's actually really financial well. Why did your job?

Well done. But yeah, soft launch. So you're with us for, you'll be on this episode, be on the next episode, and then I've actually, looking forward to like a segment which is like maybe a voice note update

once a quarter or something. We'll make sure that we're like, where are you up to? How are you doing? How's the hair? Bold. I'm just trying to say like, how much are we changing in our lives

are we chopping? I'm like going Okay Closing that books Okay Moving swiftly on What did your parents Teach you about money

Oh shit Trish watch is there No Dad doesn't He's fine Are you asking us this And then we Very brief answer

What did they teach us about money Like they always valued money And I think Like a mum and dad And we've shared it before Again if you knew Both from very well working class backgrounds.

So firstly, we're sisters. Just in case people don't know that. There's a lot of assumed knowledge on financial. So when you might be like... Sure if we just sound the same. Let's go into the law. Yeah, yeah. Finance.

How deep we want to go on this answer? Let me be brief. Mom and dad, but we're going both from very working class backgrounds. One side of the family... I think both on the side of the family would probably be minors. Yeah. Yeah. I think even going back on my dad's side, they're like from Yorkshire, aren't they?

Like, Castleford and stuff. Don't tell people that. I know. I know. And I'm very pro-wigan, so I'm really sorry. That's all everyone. But somewhere back in the family. Then Irish.

Came up with no money. Yeah. We're very northern. A very common thread in the northwest. Like, we're like textbook. Of no money. Yeah. Like, you know.

Mom was one of four kids, like to a single mom and like all that kind of stuff. So I suppose like we've been brought up in a environment where my mom and dad, we've only known them to have money, which is probably a bit strange as well. And when we say have money, we mean versus not having any. But middle class, like we've gone, we've got numerous holidays every year. Very lucky. Like, I never heard my mom and dad worry about money or stress about money.

And there weren't loads of conversations about money all the time. But like... But they didn't have until Fanon Shell a good money foundation because, like, they came from nothing. And what we are very blessed with, with our parents. And she's always said this is, luckily nothing went wrong.

So she was like, there was not an emergency fund. We just got another salary the next month. Yeah. They didn't have lots of debt because they could kind of like pay things. You know, mortgage decisions weren't the best. And like at this time, I won't say the bank they had, but they had private banking with a big, big bank who we talk about all the time. Did we just go into chat in the branches?

But actually, no systematic money support, money growth, really like poor pension decisions on behalf of the company's not. on behalf of our parents. Because who was to guide them? Because they, luckily, could always just earn a really decent salary. And they out-earned it. So we consequently, holiday is really important, lots of memories. We both were supported through university.

Cars paid for. Literally. So, like, super privileged. But, like, still, but I'm going to say trading water, because one step away from something could have gone around. Like, one, thank God, but they both got the health. And we've both been really lucky. There was never any major job loss.

that could literally put the family at risk. They've just always managed. But what mum says, and if she'll get this wrong, she'll absolutely comment on Spotify or on YouTube or on both. Which would be helpful for the algorithm, so let's rage bait her.

I'll say, I'll like Trish's comment, whatever it is. She actually says if she knew what she knew now at 23 when she had me, they'd be multi-millionaires. And that is literally because of compound interest,

not because of anything they did. wrong. Like, or anything drastic. Or anything drastic or a lottery win, it's they are now both in their 60s. And so at 23, if you could even spare like, you know, between two of you, 500 a month, even 1,000, which actually would have been about manageable between two of them, maybe not there, maybe a little bit less, but small amounts of money consistently invested over time add up to a lot.

So again, we are so thankful with our parents because they are both super well and they've always been able to earn what's befitting of their very family. value. Like, they've always been able to support a really good lifestyle. They support the children in our lives, like our kids. Yeah,

they invest for our kids and stuff. They invests for our kids. And they, like, they buy clothes for our parents. Like, that's our mom's little thing. Like,

school uniforms and bits. Like little bits of travel. So they, they want for nothing. They've got this wonderful concept of retirement. So she's, she's never like, um,

uh, gutted that they don't have multiple. No, because they're in a really good place. They've literally got what they needed. But she always says, if she'd have known what she knew now, things would have been a lot even more different.

And that's a nice thing to, I think, to pass on to people listening to this, that it can all work out, but also a couple of tiny decisions that don't change your lifestyle actually could pay big dividends. So consequently, our parents taught us to work hard and to try and earn what you can earn

and to make sure that you have experiences so that you're not reckless with money. Like they're not big spenders, but they've always been big on travel. but I'm also really impressed with what they would have managed to do versus what their parents taught them because their parents would have been like, you just work and you get the money and then like, that's it

and then the money runs out and then you work again. They had no financial. When you think about what they've done, they had no financial help from anyone. They were just forced. We've had a definite leg up. So where we started from is much better position than they ever did. So sometimes I'm like, wow, like where they've come from

and I suppose like it comes into past when they see someone on like Facebook that used to be friends with and that person's still like in the same street. that they grew up and not earning very much money. And then my mum and dad, I'm like, wow, they've really come such a long way. It's not just that. I think what's lovely in nostalgia kids, you know, both our grandmas have passed away and granddad passed away. And I sometimes say to mum and dad, like,

Nan a bit more, non saw a bit more of it, but like, would they believe actually where you're at that at your age now, not only you're not working, you're spending time with your grandchildren, your holiday in, you're investing. You're in great health, you go to the gym every day, like this lifestyle that are created, I mean, I'm sure dad's dad, who died very young,

just couldn't, like, he actually worked in a factory and then it's amazing. And then died, like, literally, like, did it for every time and, you know. No, very, very young. So, so, yeah, I think that they taught us the stuff that we keep important, but they did miss out on a lot of financial education that, again, we caught it early, fairly early. And our kids have caught even earlier. God, help us all.

So all I'm going to say about that. How about you guys? I know that we went on a bit there. But how about you guys a little bit? You don't have to go into too much detail. I think I had a bit of a confusing one, like having divorced parents from a young age, like a mum who's like after that divorce, like struggled quite a lot. Like, did dabble in credit cards and stuff. Had to navigate a house on her own.

Yeah, by herself. I think my dad like bought her out of where we grew up and he's still there now. So like I'd kind of like be at mum's house and it would be like a little bit of a struggle. Yeah. Whereas then I'd go to dads and it'd be like, have whatever you want. I was like that's very common. Bit of whiplash. So it could be a bad thing but I think I've got like a,

I take everything with a pinch of salt and like a bit of a dose of reality of like you've got to be careful because like, yes, aim for this. Yeah. Like these big goals. But this is always like a possibility. Yeah. because you've literally lived both realities. At the same time. That's crazy actually.

Yeah. And it's like, wait, which one's actually real? Yeah. Where am I? But you've also thrived in both, like had such a good childhood in both that actually there's,

there must be an element of resilience to that, which is actually I know I can live a very simple life. And even there's a little bit of struggling if it's not perfect. I'm still happy. I'll be fine. Whereas some people are terrified of that. You've been there. Got a bit of grit.

Yeah. Jen's going to be like, just you ask. I know. Where are you from? Burkdale. The grit. I don't think anyone's got gritting Burkdale.

No, they'll take that. No, it's definitely a good thing like having a single mom. Like, I can't even imagine. Obviously now I'm older, like we speak about it. And she's like, that was so hot. Yeah. And I'm like, I don't know how to help. You're like that?

I need help like doing the shop. I'm really sorry for anything I ever said to that might. Does this chicken look cook? She was trying to bring up two kids on her own. at your age. Yeah. It puts into perspective when you become

the age that your mum was when she was in that struggle and you go yeah, could I have done that right now you could but you're like

I'm glad I don't you're in a good position with Alex and stuff yeah but then also I've got that thing of like

anything could constantly change so worry a little bit yeah right okay because you've seen your mum

go out go out on her own yeah so you've got a good fuck off yeah what about you Lydia

I don't remember being like explicitly taught anything about money, but I feel like I've absorbed a lot of like, like, I mean, my mum's like a spender. Yeah. My dad's like really tight. And I didn't take more after him. Yeah.

And it used to stress me out when my mom was like, you know, like buying loads of clothes at once or something. I used to get really, really stressed. Yeah. We don't have enough of it. But I feel like they, they're always like made sure I had a savings account. And they're like, when I started uni, I remember, like, them being like, you need to open a help to buy. Yeah.

And stuff. So I feel like on a big picture, they've like, like, given me, like, solid. Yeah. Fundamentals. Yeah. Yeah. They made me really scared of debt. Yeah.

But it is, like, first, like, the juxtaposition is a long way, a big word, but like the contradiction even and the contrast. And so, like, you know, maybe you have leaned one more, one way rather than being a balance of both. Because I don't think, I don't think you can be both. Yeah. and your dad would have absolutely projected onto you, like this stress of don't spend. And that's just the way you lent. Tell your dad it was in the sale.

We've heard them all. But it is that we have like taking that and then applying it to your own experiences and then the relationships that you're in and the situations that you're in and we've loosening it up a little bit where it suits you. But it does have an impact, doesn't it? Yeah. And it's just where which way you land could have been

the ultra-speople. and you could have been in a very different situation now. Did we ask, this is what we asked the community, is it? Yeah, we've got a few things. Like a therapy episode, this one. It is. Don't ever get a store card. My mum was 1,000% right.

If you get into money trouble, please tell us so we could help. Don't ask anyone else. If it's too cheap, if it sounds too, if it sounds too cheap to be true, it probably is. So don't buy it. Could be a scam as well. Yeah. Some things are reassuring the experience. expensive, but they are rare.

Most are just rip-offs. That goes with the last one. I always watched my nan keep a book of everything my mum owed to every penny. Is that us? Did you write that? I didn't write that. I looked at you straight away and I was like, my nan literally used to be like, every week we'd go around to her house on a Sunday, she'd be like, right?

Ruth, you owe me £4.75 for those sausage rolls that I got you. And Trisha, you owe me £130 pounds for the makeup that I can. got on my Debenham's card for you and respect. She used to get the decision. I used to have a Debenham store card, but to go pay it off, she didn't connect the direct debit. She would get the cash. Go to the cash, she can get the cash.

Go to the top floor in Debenums in Wigan into the customer service and pay off the store card. And we were brought up with her doing that. And it's because she got access to discounts and so she was very, very diligent with it. But yeah, like we obviously now you reflect on it. Like, Mum and Ruth would have been busy. So, mum, why are you going to town?

Can you get me this? Can you get me that? She didn't have WhatsApp, did she? She couldn't be like, can you send us. a Monzo request but now mom does it for us so her and Antwerth with goes shopping on a Saturday

we've got 4,000 kids' activities so she's like Ponfretts your steaks in there It's got a bit busier Your steaks Your steak order was 26 pounds And then what was yours yours was lighter What did you order?

Mine was £13 because I got Dishush tablets which are not cheap Can I just say I was like they're enjoying a nice steak dinner for 26 quid and I paid 13 pounds for organic milk which nearly is very much into at the moment

And dishwash tablets. I was like, that's half a steak dinner. That's how depressing is that? But I paid it straight away. That's why I thought that was, when you said that then, I was like, that's got to be holly because that's, that's what we did. She paid it off straight away.

Yeah, she used to write it all down in a book and Chase as well. Now mum's just on notes. Someone said that only bad people made money being poor means you're a good person. Oh, that's tough. I feel like that's quite a dangerous, like rhetoric, isn't it? Yeah, but that's very profiting of an environment though, doesn't it? It keeps you thinking small, keeps you thinking that investing is not for you, keeps you away from feeling financially well.

We're not talking wealthy and we know that wealth comes when we are financially well. But arguably that's saying to me, like the struggle is a bad drive of honour. Yeah, but also sometimes people's like own realities are that life's not fair. So you could work really hard and not get ahead. Sorry, we're not, we're chatting away. Go. What I don't say? Someone said my mum has gotten us into financial to change our ways.

Are you hereby Request or demand Is this homework? My mum always said she would go into debt prison If she spent too much We've got a lot of like No we learn nothing Yeah

I think that would be I imagine that would be the most common thing Yeah Don't tell dad Was that you Yeah there's a lot of nose I think But I think again

Society problem Problems with in education Definitely. Government needs to step up. For anyone that's listening to this who is a parent though and if you've listened before you will hear of Holly and I

speaking about this, as open as you can be about money without giving details I'm putting on due stress onto your children. They learn by what they see. They learn by what you talk about, your language around it.

If you're having open money conversations, if you're talking about the budget, if you're saying no to things like, I'm really struggling in three and a half-year-old at the moment does not understand that you don't get a toy of time you go out, I'm having to just not take him out and not take him into these scenarios and

stuff, but they do learn and I keep being shocked every time I check in on the financial app and I update the gysers, these children's gysers are just growing and growing and growing. And I share that with them. But like those things they learn by doing and they learn by what they see, it's not just about what they're taught. So the more you can invest in your education and the more that you can learn more and the more that you can speak positively about it, it's going to impact them. whereas you say you shit with money,

if you say investing's not for us, if you say that we'll just buy this on Klarna, they think that that's okay as well. So it's super hard, but we're doing our best to help you guys out so that it can filter down. Generational change for everyone. Yes, it's good to us all on this podcast

that soak it up, feel better, but like we want you to instill generational change in your families. Okay. We're doing the Lord's work. We are. Or any other dumb nomination. We're not that religious.

Talking, I went to a Christian yesterday. You'd never see anything like it, just to digress very quickly. But my child walked in and went, what? It's this. Is this? And I was like, it's a church. He looked at the pamphlet and went,

this is going to take 52 hours. And then Neil went, well, that's more than two days. So it's not going to take that long, is it? He's going to read all this. I was like, yes. The guy was very good, actually. Take my shoes off. He's literally, take my shoes off.

And he's literally lying. For anyone not watching at home, I'm lying on Laura. Yeah. He was also lied on me actually, like across his dad and you and me. And then he, they were,

it was good form, wasn't it? But I said, you know your nanny and granddad that you love, they made us come every week for full mass. We had to leave sleep over

and a Sunday morning. And you're going to David Lloyds. Yeah. Literally. They don't know the goal on these kids. Lloyd. Anyway, we're not doing the Lord's work.

We're doing everyone still. Delama one? We got to Delama one yet? No. Quick financial win. One listener said speaking to Chelsea at Life Search made sorting income protection and life insurance so easy, and she finally feels like a boss with her cover sorted. Want the same piece of mind?

Head to financell.com forward slash protection to get your free quote today. He wants one joint account for everything and I have 10 sinking funds. Hi ladies. A first world dilemma I know, but I need some advice. My fiance is buying a house and we're moving in together. We're currently living apart so our money has always been set. I'm very lucky. He earns more than double what I do and is very generous. Yesterday I made a passing comment, oh, we'll need to open a Monzo joint account for the bills. We haven't actually discussed how we'll split things yet. Currently, what I pay for my mortgage and service charge combined with his rent equals roughly what the new mortgage payment will be, which creates a natural 70-30 split that I thought

would make sense given our earnings. But after I mentioned the joint account, he said he thought we'd just pay all of our money into one Monzo account and let everything come from there. When I say, I panicked. I'm a financial girl through and through. I'm mid-30s, supported myself since I was 18. I log every transaction in the app. I have 10 sinking funds, an emergency fund, and I own my own home. Independence is everything to me. For context, I'm selling my home and investing 20K, using some of it to pay off my car and then a bathroom renovation. When he remortgages, I'll be going onto the mortgage. He's a first-time buyer so we're avoiding 23K in stamp duty. My actual dilemma is this. I think I upset him when I say I couldn't do the one account approach. I need my sinking funds

and my own personal money so that when I get Botox or spend £120 on hair, I'm not feeling guilty that I'm spending his money. He says he doesn't care about that and that we should just spend what we want and I know he's being completely transparent, kind and supportive, but I just cannot. The anxiety this has given me is real. How do I talk to him about it without making him feel like I'm being secretive or like I'm not fully in this together? Because I am. I just don't have anywhere near as much as he does and somehow I feel guilty for wanting to keep my own budgeting system. I suggested a joint account for spending pots for things like travel, the house and the car, but we've both made assumptions and never properly sat down to discuss. I've suggested a money date night. Am I being overcautious? I trust him whole whole It's my own money journey over the last few years that's made me so careful. I just don't know if I can not have my own money in my own account or do I just need to trust the process and admit that I'm not going to have to worry about money as much anymore. Thanks for any advice from a money conscious financial girly. I think you've just answered. At the end of the dilemma, I was just about to say you need to let go a little bit.

Well, that's just my personal opinion. I've always had a very positive experience with money and my partner. Like we've, I suppose it's because we've been together since we were so young. We've kind of like navigated it all from the beginning, whereas it sounds like she's very independent on her own, whether it's from a past experience or whatever it might be. She's going into this with being cautious.

And I think it's okay to be cautious. I think you're being sensible, you're not throwing, you know, caution, to the wind and just hoping that for the best, but you arguably might be a bit of an overthinker as well. She's done the work, the financial way, and succeeded.

And so you can be forgiven, can't you, for going, I've got, I have the system. Yeah. Then you all want to spoil the system. Just simplify it. Yeah. So organised.

You know, and this is what's so interesting about money and relationships because it's so much more about the numbers. It's so much more. So she has built up financial resilience. She's built up money. She has got everything organized. So she feels in control.

It's all about how she feels. And she's done that and got to this space. And especially I find when you have had that independence early on, you've not had to be answerable to anyone. You know, sometimes I think that I'm like, I'm like 38 years old and I could do what I want. But I can do what I want. It's me. It's me putting feelings on.

It's me. You're the blocker. And I'm the one that. usually if you think probably the decision you're making is could possibly be perceived as overspending or unfair, we usually want to keep that secret. So it's something in others, or there will be judged for it. And then there's a different conversation to be had. So I feel like it's no wonder you feel like this because you've got a system that's worked and suddenly you're going to put yourself in a vulnerable position. I do think there's baby steps with this.

I think that if you at the moment have two completely separate financial lives, you are engaged, he's buying a house. I know you've said, like, very, it's tactical, stamp duty, lots of sense, but make sure that, one, you're speaking to solicitor about it and you will be required to, like, fill out certain paperwork. If you are contributing anything to the property or to renovation, document it.

I'm not being a dick about it, but just document it because it needs to be, like, contractual, obviously the stuff that may be changing the law at some point about houses and things for unmarried couples, but until you are married, and even whilst you are married in the other days. Just get that documented properly. So make sure you understand the implications of how you purchase the property,

whether you contribute anything to it and what would happen if you suddenly decide to sell the house again. So bear all that in mind. But I think then your first step to say to him is because she said he's the higher earner, isn't he?

It's going to be natural 70-30 split, yeah. So what she can say is, I have been this independent woman. I've been in control of my life and I feel confident and happy like that. It would be a big step for me to go zero to 100. So can we go halfway? And so can we have a joint current account

that we pay house money into? And lots of you do this. And especially when you've not got children, this is still very easy and very clean because it's factually very clear what needs to be bought for the house and then what's left over for each other. And because you've chosen to do it proportionately,

at least you would be protected to do things for you whilst having less money because what happens if it's 50-50 is there isn't any money for Botox if you want Botox so there's not money for expensive makeup if you want it because you've had to split 50-50 so you're already in a really good pragmatic position and caring position.

You've got a big awkward situation out of the way the fact that you're doing 70-30 because a lot of people with this dilemma would have gone a step further and gone we need to pay 50-50 and I can't afford to and then I feel guilty about having the Botan't have it. And so I think it sounds like you've got a very understanding fiancé, if you could say to him, this is me, not you.

I have managed money this way. You know, play the female card. Like, it is females. There's so many scenarios where females are in control and they feel vulnerable financially that I feel really strong. So for this next chapter, and it might be until you're married. Like that might be like, let's wait it out until then or until I'm on the mortgage or until all this. Do a period of time where you contribute all house stuff.

And by the way, in the house current account, get the pots and get that all set up. Yeah, yeah. Yeah, you still have those. Really. And that's going to be the bulk of you spending anyway. Your food, your fuel, your house stuff. He said travel, don't they? That they were going to have travel sinking funds and stuff.

Put all that and do that. And then until, honestly, like, and Holly and I can speak from experience. If you then get to a point where you feel really safe and secure, you're really happy in your marriage. You, like, he knows that you get these things and you have personal interests and he may have them as well. I may not have them, but that's okay as well. then it is actually a lovely thing to fully combine your finances where you still both have emergency funds in your own names and stuff. And that's what Holly and I've always advocated for.

Like, if you're in a good place for it, it can be so good for a relationship. And crucially, when things like children may come into the mix or if someone gets poorly, there's not this imbalance suddenly and the person that suddenly isn't earning or suddenly loses a job or whatever happens, you don't feel lesser of a person.

that's what's lovely about a joint account because a joint account means all the income goes in at the top and we just pay for our bills and some of that is you know like Laura's fitness and highrox fund is bigger than Carl's like

go to Manor City once in a while you go to the same gym and your gym's cheaper than mine and so I don't he doesn't go well I want a bigger gym fund because you've got one and that then comes actually down to the relationship not to money

how can you it's a very selfless thing to say I don't need as much as you like your thing thing is more expensive than mine. I like this kind of food. You don't like this kind of food. You drink, I don't.

If you, like, that is where randomly, this is much more about relationships being successful than it is about the actual numbers. So I think this guy, have you pitched a halfway house to him and said, let me use me in. And then when we get there, I'll move to it.

It's me, not you. And I'd share my budget with them as well. Just so you know, this is the type of stuff that I spend my money every month and I'm not, I don't tend to change. Thank you. It might grow. It's the system that we're using.

Yeah. But like, you might want to see his is what you might be like what kind of money do you I want to know because I'm curious and like does this fit together

should we do a model budget what would it look like if we put all our money in like model it because you might be like this is fucking great I'm not a lot of excess cash that's so true

it was so bad I was an independent woman but I changed my mind I like the trap life I think if you can get to a point where you as someone

that's nervous about spending perhaps or guilt finds guilt around spending, you need to be able to ping and not worry what someone else thinks. Like my dad does when he goes to Gregs

with my mum. He don't care. He's like, sorry, Paul, we're on a health journey. We are on a health journey. So why are you in Gregs? He's like, I'm getting a coffee. He's going to start getting cash out.

But I think it's it is to have the confidence because if, it fits in the budget, it doesn't derail it. And that's why POTS are really helpful. And, you know, being able to say to your partner, I have these aesthetic treatments done. And so we will save up for them.

And I'm having them. And they don't put us into debt. And they don't mean the children can't eat. And they don't wake up like this. Sorry to break it to you after three years together, but I do not wake up like this. But, yeah, if you can get to... And do you know what?

I feel free, by the way, come back in the comments if maybe it's still okay to go actually I want to spend and I don't want anyone to see what I'm spending it on. Fair play. Maybe I'm all right with that as well

like that's just not physically what I do but if you do it that's all right as well it's like no judgment tell me what you think is right and we'll listen then we might not agree. We listen, what is it? We listen and we don't judge but we definitely do.

Only for the red flag people by the way. Not for our community members Or for the people that you write the dilemma is about We'll just tell you what we're there Before we get into our second dilemma of the day Please subscribe all of this Pause it and do the work Yeah pose it right now

Do the we're still talking to the car I pause it yet no But do the work for us Really really really really really helps Unfortunately these annoying companies Want interaction and engagement to promote us to other people and we want to help more people

and so for a long time we've not asked about this but actually every time we listen to on the podcast they do it and so if you can like subscribe comment messaging

which gives us more dilemmas as well at faniselle.com we love having dilemmas but show us that you're here and tell us who you are and tell us what you think and we will read them out we will interact with them

it's a big deal to us did you see the guy that was calling out all this from it was like Molly May has had 80 million likes on her post of her giving birth. She was like, she is not friends with 80 million people. Your friend is asking you to like and subscribe to their business and you can't be asked if you're liking

Molly May is giving birth and you don't even know what I thought, hmm, that reminds me a few of you. But listen, because the amount of listens that we get versus the amount of subscribers that we've got doesn't add up. Sometimes you're driving and you can't like, so you've got to be safe and because you're pause and pull over. But also on the contrary, I do think Molly Mae's got eight to million friends. Probably. She talks to us like she's our friend. I feel special. Personal finance, let's face it, can be boring, but at Fanchelle, we do it differently.

From guilt-free spending to the perfect payday routine, our blogs help you feel confident and in control of your money. Head to Fanonchelle.com to get informed, entertained and empowered today. Okay, our next time is I earn a good salary, own two rental properties, and I still don't know what to do with my money. Hi ladies. I recently started listening to your podcast and I'm hooked. I feel like I'm in a good position with lots of options,

but I could really do with some help pulling together a plan because I keep going around in circles. I earn a good salary as a director of a family business and also run a yoga class side hustle. I also own two-by-to-let rental properties, both with mortgages, but I'm taking a profit on both each month. I do have some debt, 3K on a 0% credit card and a 5K loan, which I'm making real effort to clear in both 2026 and

27, which will free up £225 a month. I pay £100 a month into my Lysa, with plans to increase that to the maximum and £120 a month into a nest pension, which currently has $30k in it. I also have a month's expenses in an emergency fund. After all my expenses and £500 a month fund money, have one K left over right now. My question is, what do I do with that remaining money? When it comes to retirement, I'm not sure how much I'll actually need given I'll have passive income from the rentals. I know the rent will go up over time and I'll still have the mortgages on the properties unless I actively try to pay them down. As a single parent, my outgoings feel high and the main lever I could pull after the debt is the residential mortgage at £550 a month, but that will take

time to reduce. So I'm floating between two options. Do I overpay the mortgage to reduce outgoings or do I put more into my pension? A couple of things coming up are coming up that I need to factor into. My residential mortgage has been on a five-year fix and is due up in July 27. So I'm expecting a jump. With just over a year to plan, I'm wondering if this should be my focus first, even before my debt is fully cleared. And in 2028, my PCP, car lease is up. I'll have a 9K payment to make if I want to keep the car, but doing that would save me £180 a month going forward. I feel like I have a lot going on, mostly positive, because I do have options, but I just can't figure out how to tackle it all. Any help with a plan

would be massively appreciated. Whoa. Single parent, you go, girl, right? I'm going to have to give you the bad news first, and I have to count on my fingers because that's the way it goes, and still don't know if I've got it right. No, she's sick. She's got 17K of debt. Technically, I would say. Because the balloon payment coming. It's coming. If she keeps that car.

She's not said that she's saving up for it. So that's what she's asking. So this is why we have a job. Yeah. So this is exactly why financial was created because life is busy. Is that H? Busy. It's really busy.

Busy. Then I won't tell her voice. I just can't. What's my? What do I talk? like very busy. Right. Okay.

We're back in the room. And there's a lot going on. There's a lot of juggling. And she's all over her numbers, which is super helpful to rental properties, which are far being like, depending on your tax rate, it's a good and a bad game, rental properties.

It's something that as long as she's working closely with her accountant, she'll know that it's worth keeping them because it sounds like she likes her idea of passive income. They'll be able to grow in, she makes a little bit of profit on them. she ought to pay tax on that, she'll get a bit of a tax credit. Her tax rate will determine how fruitful they are every month,

but hopefully the properties are also going up in value. So they're there and they're fine. I always say to people, make sure that you double check with your accountant, that they're actually not costing you and making sure that you're okay tax-wise on them because it does all depend and the stuff's changed a lot on those. So she's in a classic financial playbook flow where there's an order of prioritisation that she has to do. Does she have an emergency fund?

A months of expenses. A month's worth of expenses. So that's about what's in the minute. We recommend for a mini emergency fund one month's expenses first. It's not too low. You need higher. But to kind of get you going. And then the next thing to do is to pay down the debt.

So she's got the credit card alone. Five and three, wasn't it? Yeah, 3K credit card. 5K personal loan. Yeah. So she's got a thousand. excess per month. And so she's following the playbook, she needs to get rid of those. Doesn't matter about the 0% or anything like that. The way the playbook work is we get rid of

consumer debt, which reduces your monthly outgoings, which increases your excess. So she needs to focus on those, but like go how on it, really, really try and see if she can get rid of them. She's going to get rid of it by 27 and 28. She said she's making a real effort to clear this year and next year. That could be gone by the end of the year, I would say. If there's a thousand a month that she can find and she's already making regular payments, they could be gone. And so if the playbook says you list your debt, smallest or largest, if there are any really expensive or high interest rates in there, maybe consider prioritising those, it depends. But get those gone and then cut them up or close the loan and just don't use them. So then next, that is the right point

hole. I think there's two ways you can do this. When you know a balloon payment's come in, you may want to keep that car. But you may also, we did a post recently about the different levels of car you can buy for like two grand, three grand, five grand. You don't have to buy that car and for nine. You can save a amount of money and buy a car. I think what I'd be tempted to do then, and I have said this before, is switch to a big emergency fund build. So let's say that's like six months emergency. Especially because she said she's a single parent. Single parent. She works for the family business, which may be reliable may not be. She might have a gap in tenants and suddenly she doesn't get income from her properties. So getting that as close to

six months expenses is crucial because when the bloom payment comes up, she has options then to buy a car because it's an emergency if she's not been able to do both. So I could say then you save up for a car, but the problem with that is that emergency fund is still too low. So I think building comes up in the meantime, she's only got one month's expenses. So I be tempted and you know you've been in the scenario in the past few weeks where you've had to lean into the emergency fund to buy a car,

build that emergency fund but mentally remind yourself some of this will be for a car because what's interesting then is you'll get to the point where you'd be like, ooh, what do I want to spend on a car now? Because that's my emergency fund. You're less likely to pull out nine unless you love this car and it's perfect. And you've been able to save up that much that it's amazing. But then you get yourself out of that PCP, you buy yourself that car or a different car. So by that time you should be consumer debt free, car finance free.

you've just found four, five hundred pounds per month in your budget which is then now 1,500 a month because you already had a thousand excess anyway.

All compounds. It makes a massive difference and that's going to take time so that's not a quick fix right but that will, that's, I've been in that position. It's so amazing

when you are there, especially as a single parent, you just feel like you can take on the world and she's going to have cash every month she's going to have cash to then, and this is the final point, you then ingrow.

Where she said there's some big things coming, up, that's where once you've got your big emergency fund, you go back to your budget and you go, we've done really well. What's coming up or what would we like to come up? Would we like a bit of a renovation? Would we like a holiday? Would we like a bigger beauty budget? Whatever the thing is, do we want a wardrobe overhaul? What is it do we want? Because we can factor that into sinking funds now because there's room in the budget. And so that's when people look in the playbook and they go, what's big life goals? Because it's survive, build and growing and building.

you've got big emergency fund and then you've got big life goals. It's because this is the time to incorporate saving up for those things. It's not in Survive. Like you shouldn't be thinking about a big boogie holiday when you're in consumer debt. You might factor in a little one if you're going to go. But this is the time to do that. So when you've done that and you've got your new budget, which is basically you might then not have 1,500 a month.

You might be back to the 1,000, but 500's going into all these pots in the building and you've got this big emergency fund in your back pocket. You've then got 1,000. and really then you, it's always good to balance making sure that you definitely then should be putting more into your retirement, more into your pension. It's a good tax-efficient thing to do.

But also you might want to look at overpaying your residential mortgage. And overall, I wouldn't be, it's not that higher mortgage, like 500-ish, didn't she? So with your excess that you've got, I'm not too overly worried. Proportiently, I'm not about overpaying it because, yes, the interest rate will change, but it's obviously not that big to start off with. Yeah. And having a nice automated balance between investing in the market and overpaying your mortgage, it's a healthy balance.

So make sure retirement's enough. And actually, that's a fresh conversation retirement. It's look at calculators online, look at money and pension service, which is the government website. Are you on track? Because the danger of being in a family business and you've already hinted to the fact that you think your properties are going to be a pension, they're a bonus, they're not pension. But investing for retirement in the UK, aside from any inheritance tax conversations, We get a lot of messages about this. And, you know, what are you going to do, not do it.

I think this is the problem with the narrative around it. So everyone's so bothered about protecting it for IHT that they're then thinking about doing other things instead. You still need assets. And so we're talking about, you know, properties are not in themselves a pension. They're not as tax efficient. They're just a different asset to have. Having a real look at are you on track for retirement and what else could you be doing is a really healthy thing to do. The numbers that get spit out of those calculators.

can help you decide. I've just thrown a load of information at you, but what's really simple about that is it's the playbook. So the financial playbook is in the app. We've got summaries on our website for the lighter version. We've got a long course that walks through it properly. It's focusing on one thing at a time and ticking them off. And you'll just feel amazing off the back of it.

She's got a lot going on. But I feel like I feel like I read all of that and I felt a bit daunted for her. Is that the right word? It's overwhelming. But she said, I have a lot going on mostly positive, but I do have options. And it is nice to have options. Yeah. Oh, definitely.

She's not like I've got at first. I was like, whoa. Sometimes too many options is hard. Like, you know, it's as bad as not having any options because you're like, what do I? I'm decision paralysis. The playbook's good though because it just makes you go, what's my goal? I can't have 20 goals. Like, what's the goal?

And then for me it would be, oh, you've got a couple paying off debt, building that emergency fund of my two things that I would be like, Don't remember about anything else. Yeah. Don't look at. Let's not talk 2028 or even 2027. I would give yourself a debt-free date. You would be debt-free by the end of this year if you follow the playbook.

I guarantee it. I honestly do. That's a nice gold. Yeah. Yeah. Do you mean it. Okay, that is all for this episode. The Vault is now closed.

And just a quick disclaimer, the Vault is just a chat around life and money topics. We are not giving financial advice. That sound. It means summer's biggest event is here. The fashion is unmatched. The crowd's buzzing. The bets are. down. This isn't just a race. It's the Kings Plate. Canada's most iconic day at the track,

world-class racing, live music, gourmet food and pure hard-pounding thunder. Saturday, August 15th, Woodbine Racetrack. Tickets start at $35. Don't miss out. Lock yours in today at kingsplate.com. The Kingsplay, rule the day. Must be 18 plus to wager. Know when to take the reins. Responsible gambling.org.