I appear to be a grown up, with real life responsibilities, assets and dependents. I still feel like a teenager most of the time, at best 25. I like to think I’m on top of my finances, and that I’m doing all I can to make money, save money and provide for myself and my family’s future. But am I? I was offered help in the form of a real life hero from Lemonade Money. At first I thought I didn’t need any help, I’m a sensible money saving mama, I’m on top of the best deals, but then it’s all part of keeping on top of it to look regularly at your financial health. I’m no expert, and we all need help.
The Lemonade Heroes are an elite group of individuals whose sole purpose is to get your finances on track. You can get a sidekick for free, which involves a financial health score and financial health report, or you can get a Hero for £49, which gives you a 30 minute telephone consultation with a Lemonade Hero, access to the hero for one month, and a tailored plan to get your finances on track. The Super Hero package is coming soon and gets you the same plus quarterly 30 minute consultations and quarterly finance track plans, plus access to the Lemonade Hero for a year.
I tried out the Lemonade Hero package. We set up a time to talk for our consultation. I like to think he was sitting in his office with a cape on, pants outside his trousers, coming to my rescue. It made it more interesting. We talked through the details I’d filled in on the short online survey and we looked at areas I could improve on. It was great to have a chat about things I’d been worried about. The only asset we have is the house, which is covered by life insurance and we have a plan in place if we needed critical illness or disability cover. The debt I have is small compared to the national average which made me feel better, and I already have plans in place for paying it off, then to save money. I have a pension with the NHS which I may need to top up with a private pension depending on how my work on the blog goes over the next few years. One area which I know I desperately need to sort out but I keep burying my head in the sand is a Will. We don’t have one. I know it’s relatively easy to get one and doesn’t have to be expensive, I really should get it sorted.
After the telephone consultation, I got an email with my financial score, which is 60 out of 100. I also got actionable points in the email, relating to our discussion with links that take you to areas of the Lemonade Money website to further improve your financial health. For debt management, they signposted me to debt advice, but mine are low and manageable at the moment. They also recommended a budget planner, where you can input your income and expenditure. I live on a week by week basis so it’s difficult to plan, but this can help you if your incomings and outgoings are relatively consistent, perhaps you will find areas where you can save. Then there were links to ISAs, pensions and mortgage advice. These are all products and services that Lemonade Money provide, which would give them further business from you.
I found the whole process user friendly, their website is clean and appealing and if you have the help of a financial expert, it can take away some of the mystery surrounding the financial services. There was no hard sell, just recommendations and you weren’t chased up or bombarded with emails. If you’d like to talk to a financial guru then it’s quite good value compared to going to an office. In the Lemonade Money blog, they talk about simple things you can do to improve your finances, like switching energy providers, changing your broadband or mobile package, switching from subscription TV to Freeview or reducing your spending on branded goods, plus how to educate your children about finances.
Disclosure: I was compensated for my time in writing this post, all opinions are my own