Welcome to our new section of the website ‘talking money’. This is where we will host our mums talking money series. We will start by talking to mums who run blogs amongst their busy lives. We will deep dive into their thoughts about money, top tips and biggest money successes and failures.
I would like to introduce Jennifer who runs mamafurfur.
Please introduce yourself and your family
I’m Jennifer Kempson, Scottish born and raised, aged 38 years old and our family includes two boys Nathan & Sam ages 6 and 3 years old; my husband Matt and our two cats. We also have a blended family on my husband’s side with three further boys ages 6 to 12 years old.
Tell us a little bit about your relationship with money
My relationship with money has always been good and solid with a balance of saving and spending, however, most recently I have also learnt how to invest our money so that we can grow additional incomes through the stock market to allow us eventually time and financial security. In the past though, my husband’s relationship with money hasn’t been very good and we faced £24k worth of credit card debt when we got married from his past relationships. We tackled this together at the start of our marriage though, through learning how to manage our money better and smarter and we are debt-free completely outside our mortgage (which we are also overpaying).
I love to treat others though, so my nature is definitely a mixture of spending and saving.
Do you have any money-saving tips?
My greatest tip for everyone is aim to save and learn to invest your money on autopilot at the start of every paycheque as the first thing you do. Take the emotional decision out of saving by making it autopilot so that you can build your wealth over time and not rely on having “enough to save at the end of the month”. My greatest financial lesson though was learning about the stock market and index funds to grow your wealth into an “Early Retirement income”.
Did your attitude to money change after you welcomed your little one?
Yes absolutely. It was actually the result of my second maternity leave that led to discovering knowledge about how to grow wealth rather than just saving it in the bank. This then leads me to create a blog and youtube channel to teach others about the Stock market, personal finance and passive incomes so that they too could have financial freedom in the future without relying on their one source of income (their job) but have freedom options. You can find my channel at youtube.com/c/mamafurfur and my blog at mamafurfur.com
What is the best money-saving blog post on your website?
It would really be this one to inspire people on what is possible with saving in a smarter way: How to become a millionaire
If you haven’t ever checked out mamafurfur I highly recommend you head over to Jennifer’s website right away! The resources and tools section contains a wealth of information that can help you financial freedom. My favourite section is – Financial Freedom https://mamafurfur.com/financialfreedom/start-here/
Who do you go to for money advice?
I absolutely love Youtube for honest everyday advice on money and finances. My favourites in the UK right now are Money Unshackled, The Humble Penny, Pension Craft and Meaningful Money.
What’s your biggest money failure?
I believe everything in life is a blessing or lesson, so no failures only learning points. Perhaps though not having the confidence in myself sooner to invest by a few months. When I finally opened my Investment ISA to start investing in the stock market I was a bag of nerves, but got over that quickly!
What is your biggest money success?
Learning about passive incomes and how ordinary people can invest in the stock market, really it is a game-changer for your finances.
If you have a mortgage did you see a mortgage advisor?
Yes, it was with our local bank.
What one piece of money advice would you like to share with other mums?
Please take financial responsibility for your own wealth as much as your family. Sometimes as women we allow our other halves to make the financial decisions, but really having that knowledge on how best to use our money and money goals that allow us to design life on our terms – it will give you the power back with your time and money that you deserve to be open to all choices and decisions in life.
What one piece of money advice would you like to share with your children?
Start making good money choices young and often – pay yourself first with your savings and investments as the first thing you do with your money, and then enjoy life with the rest! Life is for living after all!
What is your dream family holiday?
Right now, I would say going somewhere not to warm but perhaps Dubai to experience the luxury resorts and locations with my family. We love to travel and often go multiple times a year to all-inclusive resorts with the boys, so travel is now part of their lives. Growing up I didn’t experience that – so I’m happy we get to share the world with them already so young.
Where can we follow you?
Thank you so much, Jennifer! We have loved reading your story and fantastic tips!