The Vault with Financielle - The Debt That Rose From the Dead | The Vault Episode 88

Episode Date: October 30, 2025

Send us a textHappy Halloween! 🎃“We’ve turned halloween into another reason to overspend” - we unpack this week’s controversial opinion, then dive into your dilemmas:👻 ”My ‘Dream Home’ is a Haunted House” 🧟‍♀️ “The Debt That Rose From the Dead”Got a money win or (totally anonymous) dilemma? Share it via the Financielle app community or email [[e-mail]] 💌You’re not alone in figuring this stuff out. Get honest, helpful reads at [financielle.com] 💖💸Connect with our Partners*🫶 Get life insurance with our friends at Lifesearch. Speak to a female advisor here.✍ Write a will that is tailored to you with Octopus Legacy.🏡 Meet our Financielle approved Mortgage Brokers.*The above are tracked links, which tells our partners we sent you and may in future result in a payment or benefit to our site.Chapters:00:00 Intro00:24 Halloween Vibes and Decorations00:50 Impulse Spending Confessions02:28 DIY Autumn Crafts06:06 Halloween Memories and Traditions12:02 The Haunted House Dilemma17:56 Realizing the True Cost of Home Renovations18:50 Balancing Home Maintenance and Happiness19:44 Budgeting Tips for Home Buyers23:57 The Importance of Tracking Finances28:02 Protecting Your Loved Ones with a Will30:09 Dealing with Unexpected DebtThe Vault is an entertaining yet thought provoking podcast that answers our community’s dilemmas and confessions surrounding women and money.Visit https://www.financielle.com to download our app.Watch the podcast on YouTube.Follow Financielle for more:▶︎ TikTok▶︎ InstagramAbout Financielle:Financielle is a female focussed finance app helping women to take back control of their money, ditch debt, increase savings and invest in their future.Recorded and Produced by Liverpool Podcast Studios▶︎ Web ▶︎ Instagram▶︎ LinkedIn

Welcome to the vault of Fan and Shell. This is a safe space where we talk things life and money and nothing is off limits. Hello ladies. Oh, hello. I am in the hot seat today. I am so excited. Unfortunately, Lucy's not with us this week, but that does not mean that this is not going to be the best episode of the vault ever because it's giving Halloween vibes.

And I love Halloween. Do we do it? Well, it's Halloween tomorrow. Lucy's controlled everything in the episode so she's from beyond the grave there will shill be sprinklings of Lucy Whiskar throughout this podcast so we're going to do

a bit of a Halloween controversial opinion this week as you can see we've got stuff on set that is giving autumnal and Halloween vibes Lydia do you want to talk us through what you've brought to this is like a confessional so we often laugh and joke at people

ourselves in the community that are impulse spenders when it comes to buying through you You season. Yeah. But you'll see our blogs. Shit you don't need. Stop buying shit you don't need. We are not angels.

We give in to the... We are human. We will sit on the couch and we'll shout and I'll get sometimes people emailing us after going. You know, you've really touched a nerve with X, Y and Z. I get it. Like, we are not perfect. We also buy shit we don't need. Lydia, do you want to talk us through the shit that you've bought that you definitely don't need?

This is a lovely bit of autumn tat. It's a nice big pumpkin. Can you hold it? It's like a borg. You have to be really. Borg? Is that the material? I do not know. Like here?

You have to be really careful with how you hold it because I have been caught out holding it like this. She's very unsettling. There's a thumbnail. Yeah, there's the thumbnail. Definitely child-friendly. So, yeah, it's adorable. Did you buy it?

Did Tim buy it? I didn't actually buy it. Tim bought it from... It's given home bargains. It is given home bargains. So if you're listening at home, it's a pumpkin that's... woolly. It's camel colour. It has a stock so it is a bit unfortunate if you hold it in a certain

position, it looks like a banana or, you know, just you can guess. Use your imagination. But where does it go? It goes on, like I, I've got a sofa like this and we just put it on this, you know. Also, it's like a cushion. It is. I actually do quite like it. I love it. I'm in Dorsing the tart now. Yeah. But I can't stop doing that. But you're holding out. You didn't buy it either, by the way. You didn't buy it? No, I'm more into the DIY autumn tap. Crafts.

Yeah. I've made little clay ghosts. Aw. That was very cute little evening. Oh, I'd like that. She could have bought a bag. I could have bought a bag. You asked her to bring one, but Lydia could have done a show and tell.

Yeah, how long have you got? We did a blog as well a couple of weeks ago that was like a Halloween blog on spooky like homemade decorations and how you can make your home more like, like autumnal and Halloween like if you're hosting friends you don't have to go all out on decorations like our biggest hack at Christmas is putting the fireplace YouTube video on and you can actually donate to charity whilst you're doing it in that if you go to the Save the Children one it's not Save the Children no it's the homeless charity one sorry Bernardo's is it no it's a homeless charity and to keep people it's like the

shelter okay shelter shelter shelter to keep people warm I didn't know that yeah so if you play the YouTube video of the fireplace crackling away obviously the views generates money. Oh, that's a hack. Oh, that's less. Yeah, and they generate funds doing that. So that's a hack, but you can do Halloween spooky background one that's on one of our blog. But you don't have to buy new ones. I mean, when we, because it's tomorrow, but we, a couple of weeks ago, I mean,

it's a good job. It wasn't September, you know, my husband. They would be up in September. But we have a Halloween box and when we're taking stuff down, we're really careful about taking it down. Yeah, don't rip stuff down. So we don't rip stuff. But I was on morning live a couple of weeks ago.

And Sarah Davis was on. um right from dragon's den doing she does crafts because she got a craft company bats and i think when i was having my brief for the show they run through all the stuff that they're going to do like we're going to be crafting i was like oh my god and he went what i was like i'm crank craft won't craft like i don't like i don't like doing it and i can't yeah and he was like the next day he was like we've got you on you're going to be doing the demo i was like oh jesus christ and i was all like fine you know i can do it whatever my heart was you're pounding through my and then everyone's enjoying the crafting. I imagined it would be like because I can't really cook that well and then

I imagine being on live TV. I'm like watching what they're, I'm literally, I'd forgotten about the camera. I was more stressed about folding concertina in this bat. But the premise behind it was you can make them, you can make an activity. You don't have to go and shell out a fortune. But sometimes we just like spending a little bit of money on a little mug. And you're allowed. Like Lucy, we know Lucy shared with us in our team like Slack channel. She's got a cup, didn't she? A black cat. Oh, that was really cute.

But she'll have that all year. She'll have it all year. And then I've started to notice neighbours have got, you know, the massive spider webs that come from, like, you can put them in your top windows and then they go to the front garden and you pin them in with, like, big spies on.

Like, I do get a bit jealous. I do actually want to get in and involved. As long as you're using it every single year, we don't mind, but it's the changing of the season and being pulled into that season and spending impulsive every time you go into Tesco. know it's really tempting. Tesco, Sainsbury's, like, they're so good at it. You're going to get your food shop and you just happen to go down the Halloween aisles. Novelty cushions.

50 pound later. It's too easy. What are these? So these, I've had those a couple of years now. And they are out all year round in my study. There's a little Frankenstein and there's a little ghost planter. So I didn't bring the plants, but they are full of soil. But they're just really cute. I got them for the kids. I put them in the room. They didn't care. So I took them back out again. This is like the shopping channel. Yeah, sort of like yours. Start buying shit you don't need. So anyway, we went off topic,

but are we just wanting to show that we are human too and we do buy shit that we don't need. I'm not human, I didn't buy any shit. You're exempt from this. So we've got our controversial opinion today, very much on the Halloween theme, ready. We've turned Halloween into another reason to overspend. Agree, disagree, what she take.

Agree. Yeah. It's getting more American, isn't it? It's so American. Like, we used to go to America when we were younger, didn't we, with mum. And my mum used to go for work, so Laura and I used to travel there quite a lot. And our favourite time to go was around the Halloween season, because they just do it like nobody else. It's like walking down the street on hocus pocus.

Like, as you see it on the films, it is literally like that, if not even more outrageous, isn't it? So is that not more reason to do it? Because if you go big, like, you're creating memories. It brings a lot, I remember feeling very joyful going, like, that's such a core memory. for me going to America and all the adults got into the spirit of it there was no like

Scrooge Grinch vibe it was like the whole street got involved the problem is it's like oh Sandra down the road got the light up skeleton so I'm going to get

the light up skeleton or Barbara down the road went to Costco and got like the 10 foot I don't know pumpkin I'm going to go and do the same like it's that

you get carried away and you get carried along and I just worry sometimes that we get sucked into it and a lot of the people that do that can't necessarily afford it. Yeah. Do you remember when, I don't know about you, Lydia,

like when we were little, we used to, my nana used to look after us after school. She was our after school club. And she lived in quite a rough part of again. And we trick-a-treat there if it was a, Halloween was on a midweek night, if it was Monday to Friday. And it was like a bin bag.

Yeah. With a 50-P mask from spa. From spa. I vividly remember this. And like, do you know, the plastic teeth? And we all look the same. We just had a different mask on maybe. And there's something all so quite nostalgic about that.

Probably a pound. Couldn't do that now. No. Maybe we should. I remember trick-or-treating and so on giving me two digested biscuits. In a sandwich bag. I remember in Wales. Now I'd be like, woo!

You look at them. In Wales, just going down the road and everyone just give you a pound because no one would have even thought about Halloween. I got money as well before. Is it not a big thing in Wales? Well, I think it is now. Right, okay. But when I lived in Holland, I went to an international school and there's loads of Americans and stuff.

So it was like, it was really good. My most, this is a great hack. My most memorable Halloween experience is going and doing this like spooky house thing down the road. And somebody was like, it was like the lighter off and someone's mum was like, so if you put your hand in this bowl, feel around, I was like, it's witches brains or whatever. And I was like, oh, my God. Just definitely just wet, cold pasta. Yeah, but still.

But it was an activity or? it was someone's house, then they'd made it. It's just someone's house. I love that. When someone goes all in. Yeah, it was great. And then someone else was like, had a broomstick and then like the lights were off. You were blindfolded.

And then making the kids think that they were touching the ceiling, but they definitely just had like a cardboard, piece of cardboard touching their head. Oh, to make them feel like they were flying. Yeah, it was like the dance were just doing this. All these ideas, they were so cute and like, definitely not expensive. I remember bobbing for apples once on Halloween and my tooth fell out. And there was like blood in the water and it was like, oh no, it was literally

my tooth, like, my wobbly tooth has fallen out and that's his real blood. It wasn't like a fur effect. Oh my God. I used to think I'd hacked it because I used to, if it was a big deep bucket, I used to put my head in, put the apple to the bomb of the bucket.

Then like grab it out. Really? You're just waterboarding yourself. Soaking well. I would end up inhaling at the wrong point and spoiling the whole party. What I do like, we are fans of Halloween. do you think we do have those core memories.

So then, you know, what core memories are building for our kids? But what I like as well, maybe it's a very British thing now is you can decide not to partake and we don't call you mean and a loser. That's true. Curtains are shut. Yeah. No decorations. We don't knock on that house. Because sometimes if you do feel a bit vulnerable and if you don't, you don't know we've bothered, you've not got kids.

You're not interesting kids. Like I like how it's, no, no, we're not going to call there. Okay, that one's gone for it. We're going to go for that house. We are very like that. In our village particular, if there's no public. that's the thing and there's no decorations you don't knock on like and all the kids are quite respectful of that aren't they yeah but i was in the shops like the the christmas stuff was

beating the halloween stuff like it was getting in there at the same time or just just about and whilst i um i do absolutely love christmas mom said to me yesterday um she was saying me and your aunt ruth are really excited about christmas this year we're making lists already they're on holiday and stitches in spain like enjoying their like almost retired life when it comes to went to Ruth, but where they're like retired life, they're making the Christmas day list. It's like the Christmas lunch list and the shopping list. And they just like it. But and but the stuff that starts coming out in September, I'm just like... It's going to be mini eggs next. You get mini eggs in December now. The minute Christmas is done,

mini eggs are in the shop and cream eggs. It's crazy. Laura, do you want to know my secret to wealth building? Sure, go on. It's about working smarter, not harder. Basically, be a copycat. Well, as older sister, I can see how you would think that. Okay, hear me out. The Trading 212 Pi feature kick started my investing journey. Instead of handpicking my investment portfolio from scratch, which I found overwhelming and to be honest, I couldn't be bothered. I copied someone else's portfolio straight over to mine. Now I can take all the credit for their hard work and feel like an investment pro. Just a side note, we handpick our partners based on products that we personally love. If you want to start investing without the hard work, Trading 212 is a great place to

start. Head to the link in the podcast description to get started. So Lucy helped me pull together some of these dilemmas and they have got a little bit of Halloween twist with them. Let's just bear with. Okay, we're going to go into dilemma number one. My dream home is a haunted house. Hi girls. I feel like I'm living in a nightmare and don't know what to do. Last year, my partner and I bought what we thought was our forever home. It was a little older, but we fell in love with the character and convinced ourselves it was a bargain. We stretched our budget to make it happen, but I told myself it was worth it. Fast forward 12 months and it's been nothing but a money pit. The boiler packed in during winter, we've had damp creeping through the walls and now a

surveyor says we might have structural issues. We've already spent thousands we didn't have, maxing out credit cards and dipping into savings and it feels like every month a new problem appears. My partner says we just need to stick it out because the house will go up in value eventually, but I feel like we're throwing good money after bad. Do we keep pouring money into this haunted house or cut our losses before it completely ruins us financially? Nightmare on Elm Street. Literally.

How many times? Like, this is not a unique dilemma in any way. Like, we all know that friend that bought the house that it's a money pit and they can't see the end. The big debate that, so everyone plays a right move game, don't we? Where are you going right move? Every day. You've just moved into a new one and you're like,

I'm going to have a look. What's available? You never know. We are in no position to me, but you better believe I'm keeping an eye on what's going on the market. And my husband and I have always had these debates around new build versus traditional because I think most people can agree, apart from Carl, that older houses tend to be more aesthetic. You know, at a time when real thought was put in, it wasn't about saving space or squeezing houses in, but it was about aesthetics, like huge, big, beautiful windows letting in light and tall ceilings and traditional fireplaces, original floor, like, because there was a moment where, like, building, like, went to absolutely go downhill, like, we bought a house that was a 1960s house, like, very

unappealing, very own aesthetic and not great quality either, really, really poor quality brick, you know, and people would say they don't build them like they used to, but, and so my husband would always favour newer homes, there's not as many in our village, but newer homes. And I'm like, oh, they're just soulless, they're not going to character. And honestly, in a little way, I've come. full circle because when you need to like heat these things and we need to do the works and you need to do them properly, they can turn into a nightmare. And this is literally from experience of, you know, some of you guys listen to this and the stuff that you put in the community

of that is it turning into something that is just overwhelming. Now, sometimes you've not got a choice like that's just where you want to live and that's a type of house. But I do feel like when you go for the beautiful older traditional house and a much nicer aesthetic, you end up having to compromise on heating, on, draft on stuff like that. What do you think? Yeah, my granddad was a bricky and he always talks about that. He's like, I know you like the big windows and the high ceilings, whatever, but he was like, they're not as good as that.

Oh, so he's actually good. So he's in agreement that like a newer house with the new insulation and like all those things would be like more ideal than getting the aesthetic like Victorian Bay windows. Yeah, he's a practical man. Well, practicality has its place. Yeah. And he didn't say that. But I think that's what, when, you know, she's saying, like, it was the dream house.

And I think we, it's like the cottage on the holiday. Like, it's the Cotswolds beauties. It's the farmhouse conversions. It's the aesthetic photos. And I will all day long allow people to want that kind of thing. But when you kind of go, how much, okay, how much more, how much more? Because once we get over something, it's like buying the car or buying the handbag or once we've got over it, we're like, okay, and this is real life now. what is it actually like?

Yeah, because I follow a lot of like interior accounts. That's like my thing. You know, people for like beauty people or what a sport people or whatever it might be. And mine's like interiors. And so I love the ones that have got the farmhouse extension and the barn conversion and the Victorian like 1920s, 30s, like original parquet flooring and they're pulling up the carpet and they're like, oh my God, like the tiles. The tall tile.

Yeah, these poor tiles have been covered for the last like 50 years. These are original, like amazing. But then like literally three months later, like we've got to rip the roof off, we've got to replace all the windows, like they're falling apart and there's mould and there's damp and there's what not. So I think there is something to be said for new builds, but then you get the bad wreck with new builds as well, don't you? Where they like stack them high, sell them cheap or whatever, like they're just thrown up. The snagging hasn't always come up to. Do you think with that it's like sunk costs like

you should keep, you should keep investing in it because you've already spent so much or do you think you should cut your losses? That's the chat that they're having in this dilemma, isn't it? I think it is fascinating because when he says we'll make our money back eventually it's like oh actually like and I hear that a lot when people talk about after Renault and

oh will it be worth that now and unless you literally plan to move on quite quickly it doesn't matter I've always said that to people I said if you're staying there like then you want that room to look a particular way if you're not flipping it what you're not you know it like yes it's never a good idea

to owe more than it's worth or stuff like that in negative equity. But actually, it's not, if it was a business decision, you probably wouldn't have bought it. It wasn't a business decision. It was a dream house decision. There's some houses in our village where you're adding up

because you know we've had quotes for this, that and the other like we had an architect come round and we bought like the ugly house on the street basically because the location was amazing. The square footage was fantastic for the price. Football pitch in the back garden. Yeah, literally. Compared to what we'd had, we lived in a semi-detached

and we had two young kids and it was like we need space. What's the compromise? And it was like, the ugly house. Like, we're going to have to buy it. Like, got an architect round. I was like, so I want to walk in. And at the bottom of the corridor, you go into the kitchen. I was like, that kitchen, I want a big picture window.

I want that to be the dining room. I want that to be the kitchen. Blah, blah, blah. And after half an hour, he just looked at me after me jabbering on. Blah, blah, blah, blah. You bought the wrong house. He was like, I could do all the things you're talking about. But it's probably going to cost more than you bought the house for.

Like, there has to be a time where you kind of just go, okay, so I feel like I'm at peace with my ugly house now. There are definitely things that I want to do, but I'm much more realistic because I see houses on the street where people have probably spent more than they're ever going to get back. Like, there's some random stuff in our village isn't where people have, there's one where there's like a teaky bar at the bottom of the garden. Like, and I'm not talking like.

We know, because we start on right move. We've never been invited around. It's like, you know, the drone footage and like the film and stuff. And I'm like, and I'm not talking, they've thrown it up. But it's not like a makeshift type thing. It is literally, you could live in it. Like, you could live in this bloody tiki bar. And then the house is so expensive, not reflective of the rest of the street.

It's just weird. So there's a danger that you could do too much to it and sink those costs and be stubborn with it and keep going thinking. But it's not about, we have to think, like we talk about how things make you feel, not necessarily the numbers. You have to be happy. And if you're always chasing the next thing in your house, it has to be a point where you kind of just go, this is us. Like, and we're good. Yeah, and so it sounds with them like they've had problem after problem after problem and maybe, you know, the rose-tinted glasses that we all have when we first buy that house

and the reality of it hits you and you have to start spending money. I'd like to think, we don't know, but I'd like to think that that will stop. Like once you've done the roof, you're not going to need an immediate roof. Once you're kind of nailed most of the damp, you shouldn't need to, you know, you might, there's going to be like a healthy maintenance cost to houses, especially dream houses, I'm sure, and making sure you're factoring that into budget so that you don't then resent the house. I feel that's a really good tip.

Like if you're looking to buy a house at the moment, in the right place. If you're looking to buy a house at the moment, if you're like, okay, we've got categories of housing. New houses, limited sinking fund to deal emergency fund, which is what it is. Low maintenance. Going to have to factor in if you're buying a Victorian terrace,

you're going to have to factor in, possibly new roof, possibly damp, possibly this, that and the other. So have a sinking, you have to work it out, five years, what are we talking? And then do I want to go down that road? Am I handy? Can we do stuff ourselves? Are we going to have to get an expert in every time? Not everyone can deal with these Victorian houses. It's like special materials and craftsmanship that you need. Not every like Tom Dick and Harry can come and sort out your parquet floor. Like it's going to cost more. It needs an expert. Well, it was so we, you know, got our windows done. Was that this

year? I think it was this year. And, you know, the regular non-aesthetic white PVC. And, we knew we'd need them done at some point and so the part of the housing part was building up and we just didn't do all we didn't do anything we wanted but it was a little bit oh god but window no one wants to spend money on windows and the roof not if they're just plain and the roof will again the roof will be at some point

but it's okay and it's not causing any leak it's not going to any damage but it's kind of in the background so the next thing we'll start saving for is probably roof it depends whether we do any other extensions and stuff on it but it is that it doesn't annoy you if it if you've put it aside. And so when you're buying these houses, you have to go, okay, proportionately, what, this house is going to need this kind of regular maintenance and stuff. Or the heating

is going to be this in this house or we're going to have to. Everyone just wants to budget for the aesthetic extension, don't they? But no one wants to budget for the roof. Because whenever you hear someone go, we've got through the roof, everyone. Oh, no one wants to spend money on that. For the person that's asked the dilemma, what do we say then? Because it feels like she is, she's had a lot. She had a lot to do there, and she's like, are we going to put any more money into this thing? Yeah, the final question was, do we keep pouring money into this haunted house or cut our losses before it completely ruins us financially? So they're really struggling then with these costs.

Yeah, I mean, I think there's a pragmatic financial approach to it, which is how much more is it going to need? Yeah. And is it delivering the joy that you wanted it to deliver? Because hopefully you've added value and you've done the things that someone else would need to do anyway and did the dream not work out and something else has caught your eye whereas if it is if you just like um what's it called when you just fresh off the back of all this work and it's like absolutely drained you and you just want a bit of a break and again like have a break from if

unless something's an emergency like have that time where you're not plowing money into it you're doing something for you you're building up your savings a little bit and like you said earlier on it's is how you feel. You may suddenly get used to it because the grass isn't always green. I promise you you, you'll buy something else. And it may not be at the same extent, but it's going to need something or do something. But, God, the debate,

I think everyone listening to Hope should really ever think about that. Like when you're picking the next home or thinking of moving, you know, you need to think, what am I prepared to put into and maintain this kind of property so that you don't feel like she seems so sad. And I want it to not to be a haunted house. I did think it was going to be a ghost. I was like, I was like, move.

Definitely move. Unless it's Casper, he's all right, isn't it? I want my kids to watch Casper, but when you watch films, when you have this like, rose-tinted glassed view of films, and then you get your kids to watch them, you're like, this is really inappropriate, all that really unbelievably sad. Yeah, in Casper, the dad dies, and he gives the potion to the dad so the dad can go back to life

because she's an orphan. And she's going, for God's sake, Dad. Very dark. Casper stays at, yeah, I saw some TikTok trends of people with their like toddlers watching Lion King. Yeah, that's all that stuff. You're like, oh, Disney, no, no, no, there's always a death. There's always a villain. I think it's important.

A life lesson. Yeah, it is true. Akuna matata. Just in case the river in the desert. Struggling at school. A kunah matata. Okay, we're going to go into a community win. I'm fully aware of everything to do with my finances. I log all my bills, debts, repayments, you name it. I use the app for everything and I truly can't tell you how even this small admin task has made me feel so much more in control already. I'm able to easily budget each month with pot set up on Monzo, total game changer. I've got sinking funds on the go for my car insurance and some yearly house bills. Before, money would just fly in and out of my account and I'd have no idea where it went.

I was thinking about this with our app the other day like you know we're you guys listening to us know that we're a super small team like there's literally four of us and we've got you know a tech team that help us when we make changes to the app tech is incredibly expensive like we our app is maintained and we try and think of new things to do with it

and but it's it's super hard like other people have raised millions of pounds to be able to build apps like ours. And so we're really proud of it because what we've done is we've built exactly what you guys wanted. There's a backlog of stuff that you want and we'd love to be able to do that. In fact, recently I realised that community notifications are broken for Apple phones and it's something to do with a token and we need to get that fixed. I'm going to get that fix quite quickly. But actually, we don't give enough praise to the app. It's incredible. It's genuinely

change people's lives. That tracker, the ability to manage all these different moving parts And when you guys are able to use it and use it well and use it as a couple, use it as an individual, use it to pay off your debt. Like it's game changing. So if you're listening to this and you don't use the app, I want you to promise me that you're going to go back in and have another look. I've said this before and here and I'll do it again. I'll create more work for us. If you want another trial, because you've used your trial up and you forgot it. Come to us through the vault atfinancial.com or hello at finchell.com will give you another one. Because I promise you it's worth its weight in gold. And it's the little tracking things. Like I was saying to you guys, I was, Carl and I did our net worth while he was in bed and I was in the cab going to work. And we'd done it by the end of the journey. And it's felt a tough month. Like it really really has because you're paying up for this.

You're paying up for that holiday. So expensive season. I think like Q4 is always quite difficult. Holiday payments because we do go away in the winter. So that's like kind of a definitely a privilege thing. So, you know, putting... Rills go up, heating goes up,

like everything. Carriage chintes is going up. Everything was going up. We did some construction so we need to kind of pay for some of that. So in a month where you go, whew, there's kind of not a lot, is there? And that your net worth jumps

because you've been paying down your mortgage, you've been putting money to a savings, you've been investing. And that's, if it, that's that little app. That's that little graph that reminds us that we're doing okay. And if you're in a couple

and you're paying down debt and you feel like there's not money, your bank account but you fill in that net worth thing once a month and you see that your net worth went up together just because you did that you go feel good tracker you should call it so the net worth thing is my like graph is my favourite feature I love the visual of like look at you going up and up like well every month and you're you're relatively new to tracking it in terms of like you know the past year or so but when when it's been a tough month and you've seen a decision that you've made makes

that little graph go up. It's so good, isn't it? Yeah, even if, like, what feels like a tight month and then this graph still gone up, you're like, oh, it's fine. Yeah, we've got a lot of people that are still paying down debt, but the net worth's going up,

which just feels wrong. Do you like people? Oh, oh, even though I'm in debt, my net worth is growing. It doesn't feel right. It's a weird feeling, but... That's the financial poll. The big picture.

Fan and Shell Paul. We all feel it. We all have to deal with it. If you want to leave a community win, you can head to the community or email the vault fan-andshel.com. Although your life can sometimes feel like a Hollywood blockbuster, weddings, divorce, death and scandal, it's the mundane life admin that can protect you from turning it into a horror film. Here at Fan and Shell, we feel really passionate about making sure our community and their families are protected. Be honest, do you have a will? And if you do, when was the last

time that you updated it. We've been working with our pal's Octopus Legacy for some time now and our gal Harriet from Octopus Legacy has dropped us this helpful voice note to help you stay in control when it comes to protecting you and your loved ones. Hi Financial is a quick tip on how to make sure your loved ones are looked after no matter your situation. Make sure you have an up-to-date will in place. Unfortunately the law doesn't always protect blended or non-nuclear family structures the way you'd expect. So without the right plan in place, your home, savings and assets might not go to the people you'd want and the people you love might not get what you want them to. That's why writing a will, or for extra protection and control, creating a will with

trust, is so important. It lets you decide who gets what, when and how, like letting your partner stay in the house while still leaving your share of your home to your children, or ensuring you've provided for your whole family, not just your immediate relatives. And if you've already got to Will, you should make sure it's up to date and matches your current wishes. Thanks for letting me interrupt, ladies. I'll let you get back to your podcast now. P.S., love the show. A helpful reminder from Our Girl Harriet to get that important life admin nailed when it comes to protecting you and your loved ones. And right now, it's simpler than ever to do so. Until October 31st, October's Legacy has teamed up with charities from across the

UK to cover the cost of your will, up to £150. You and your family can write a simple will at no cost or get a will with a trust at a discounted rate for a short time only. Let Octopus Legacy help you nail the important life admin so that you can go about living your life with the people you love. Head to the show notes to get started. Now, let's get back to it. Right, we're going to move into the second dilemma of the day. Oh, I like this one. Well done, Lucy. The debt that rose from the dead. Not dramatic at all. I feel like We should have had outfits, fails, and if only, we were that organised. Hi girls, I'm spooked and don't know what to do. Back in my early 20s, I was really careless

with money, credit cards, buy now, pay later, car finance, you name it. Eventually, I thought had sorted it all and for the last few years I've been trying to rebuild my financial wellness and move on. But last week, I got a letter from a debt collection company chasing me for something I don't even remember. They're saying I owe almost £3,000 from a loan I apparently took out over 10 years ago. I honestly thought all of that was behind me. Now I feel sick at the thought of this zombie debt coming back to ruin the progress I've made. I don't know if I should pay it, challenge it, or just ignore it and hope it goes away.

The idea of spiraling back into that world terrifies me. What do I do when the past comes back to haunt me like this? So she's paid off all a debt and she's cracking on with a life. Living a best life. Living a best financial life, debt-free, sinking funds, all that good stuff. And then she suddenly gets a debt collection company chasing her for £3,000 from a loan that she took out over 10 years ago. So first is she needs to look at the details in that letter and genuinely work out what it was. There's a chance. It could be a mistake. There's a chance. It isn't usually, like usually then kind of know what they're doing. They've got the data. They don't just get your data out of nowhere.

and she did have a bit of a debt problem or spending kind of history. So she needs to work out what it was connected to. And if it was, if it's with a debt collection agency now, it's because at some point you stopped paying it if it is true. So like let's say it was an old loan and you might have moved house or you might have changed your bank and then moved house and they can't contact you. Then eventually what debt companies do,

if they feel like they can't, like the actual finance company, if they feel like they can't do anything with that debt, they'll sell it to a debt collection agency. And the debt collection agency might buy it for like a penny on the pound or 5P on the pound. And they'll mentally write off lots of it, but they'll send these letters at first and see if they can get something. Do we think that's maybe what's kickstarted it?

Because she's not been a... It feels like it's come out of nowhere. I didn't even know about it. Do you think that this company have tried to be in touch with her to pay off that debt previously, not had much response and therefore they've sold it to another company. They know that the other company, the other company, debt collection company's gone.

we're getting this back like we'll be very proactive about it and that's what the debt collection companies that's what they do they go right of these 100 debts we've bought what can we go after because people will pay up

and they will be not more aggressive in terms of like practically aggressive more proactive to chase it down but again it's a bit and they'll go to better lengths to find you but if they've contacted you

then why hasn't anyone else so first things of us I would be wanting to see that it's a legitimate debt And if it is, one of the ways you can do that is ask them, and it should say in the letters, but ask them, what was this loan connected to? When was it? Give me all the data. I don't recall this before I can take a view on whether I can pay it. I want a view. I want that. She could also go back through when she gets that data. Her statements, go back her bank and go back a long way because she might have access to them all that time ago. And look at why she making payments and try and work out why you stopped. It could have been something quite innocent. It could have been a partner's debt. Sometimes it's a debt in someone else's name and then they go, okay, he's not paying, let's go after her. So I think that's definitely worth a go. And then if it is bona fide, if it's a genuine debt and the debt collection agency is coming after you, you could always make settlements with them.

And it usually doesn't impact your credit as well. Well, in fact, I've missed this point, but if it's a genuine debt, it should be on your credit report. So pull your credit report because this should be on there. And it's a tip for everyone to make sure that they're all in a really, really good place when it comes to credit and they've not got any forgotten debts. Go to your credit report because it should be on there. Very rare to be a legitimate formal contractual debt and it not be registered on your credit report because it's something that the lender has to do.

But if it all checks out and it is owed and you have been making payments that at some point you've stopped, then offer them a settlement. See if you can. I love that. We should negotiate these things, don't we? Some people just go, oh, I've got, that's it. I've got to pay it. And it's like, no, you could go back and say, this is 10 years old.

I have not received any information from you for the last X amount of years. I would like to suggest a settlement and just try and negotiate some of it, to try and get it paid off quickly. Actually, another thing to know is it could be barred statute by the statute of limitations. It could be too long since they last chased, since she admitting it being a debt. There's a lot of conditions that you have to satisfy. It's worth having a little look because it may be that even if it is genuine, she doesn't have to.

So start with what it is and work backwards. But I can imagine that she's anxious about that. that, don't you? Because she's like, I'm free, I've heard it. Oh, and then they can get quite aggressive some of these letters. Or they look quite formal and you feel like you're in trouble. And, you know, but just remember, they are pumping these letters out to everyone. And, like, you were talking before, Hallibat, you don't ask you don't get.

We've had that, not just with debt collection companies, have we, but with the actual bank. It was car finance companies. And bank, yeah, Barclis, someone had spoke to Barclays and said, I think she was ringing on behalf of a friend, remember. And there was one where she spoke to a car finance company and said, my friend, my friend has literally driven out. the forecourt in this ridiculously expensive car that she cannot afford

and you have taken advantage of her and she cannot afford this and I'm like stepping in what a friend I'm stepping in give the car back and then someone else rang Barclays and said I'm really struggling I can't pay these debts what can we do

and they were actually really good with her and they've got a team dedicated to helping people okay say it's not a scam say that she has to pay the money back and it's like all legitimate what does she do if you're new to the pod and you don't know how to how you go about paying off debt what should she do so she we follow the playbook so it

starts with does she have an emergency fund and making sure that you've got that where possible and so whether it's a mini one and you bring it all the way back down to you know a minute one month's expenses or whether it's a little bit more make sure you've got that emergency fund and then look at the about that it is and make a proposal to them and say look I can pay you this for the next three four months or have a look at your budget what excess cash do you have and I've been more inclined to do that then I would use your emergency fund unless it was a bigger emergency fund because, no, no, you should protect yourself.

It's normal debt. We're acting like this has been around forever and it's not a brand new thing. She's your last debt. You just not finish it. So have a look at what you can afford and make proposals to them and where possible speak to them

about impact on your credit because like I said, if it's a mispayment, it probably is on there anyway. So yeah, make a proposal on that basis and she doesn't talk about how much it is, does she? No, 3,000 pounds. Oh, she did? I'm sorry, it was very early on.

No. Do you don't you listen? Now we're not, lose your feels when I go off on us. It's the worst comprehension ever because we get, I'm already picturing the person and I've forgotten what you've told me at the beginning. 3,000 pounds. Yeah, so not a horrendous amount. Not horrendous, but not something that most people will be able to clear in one. So be firm and be bold.

You are going to pay it back about what you can afford. And it'll be gone soon. And again, check your credit report to make sure nothing else will come out of the woodwork. Yeah, mini pepper talk. You've done it before. You can do it again. Like that. that this is not new behaviour.

You have done the work. This is like, what's the word? Like muscle memory. Yeah. Yeah, and that's so true. She likes to pay off debt. Like, send it long as way. I know, I'll pay off just because I want to get excited.

But it's not her behaviour that she's gone backwards. So as well, like, it can be a worry if you run up debt again. You go, oh my God, I'm literally back where I started. Like, what if I done? But she's done nothing. There's no blip here in your behaviour and your positive money habits. This is some paranormal shit. Yeah.

Come out of nowhere. This is a spooky episode. That's all for this spooky episode. The Vault is now closed. The Vault is just a chat around life and money topics. We are not giving financial advice.