|When||Monthly||Monday p.m. or Tuesday p.m.|
***** GROUP ACTIVITIES DURING THE COVID-19 LOCKDOWN *****
- The money matters group has had three online meetings using Zoom. The first meeting was somewhat problematic owing to the group leader managing to have two Zoom meetings running at the same time, which was frustrating and amusing.
- Fortunately Phil Singleton is a member of the group and eventually we were successful in getting most of the members in the same meeting!
- As we get used to using Zoom later meetings have run more smoothly.
The Group started in 2016 and we currently have 13 members. We meet monthly, usually on a Monday or Tuesday afternoon at the beginning of the month, meeting in members' homes, taking it in turn to host.
We generally have one or two main topics connected with personal financial planning at each meeting. We do not normally discuss individual shares or portfolio planning. Because the market and conditions are constantly changing we often go back after a year or so and discuss a topic again because the answer has changed. At each meeting we allow time to discuss current topics which are in the news or members want to clarify. Very occasionally we have had a guest speaker to talk about a specific subject.
In the past year we have discussed topics such as wills, powers of attorney, high interest current accounts, travel insurance, smart meters and PCP car purchase. Financial matters can be rather dry and complicated but we operate in a very informal way swapping ideas and information. As a result we have increased our understanding of these subjects and have also managed to save each other very useful amounts of money on household bills or increase the returns on our savings! Between meetings we often circulate e mails around the group passing on tips about attractive new accounts we have discovered, or seeking advice on how we can obtain lower renewal rates on products like central heating cover, phone contracts and so on.
We are slightly different from most groups in that members often email the other group members with an individual issue they want help on, or to pass on a tip that cannot wait until the next meeting. For example in the last few months one member wanted ideas on what would be the best savings account to open for his grandchild while another asked members what they were going to do with their Flex Plus account when Nationwide announced they were changing the insurance cover and interest rates.
The Money Matters Group is concerned about the constant danger of scams and contributes an item to each edition of the Newsletter to make all members aware of current scams.
For more information, please contact the group leader - Alan Kingsmill