The Five Minute Money Interview: Sarah Pennells
Photo credit: Simon Brown
Sarah is a well known personal finance journalist and broadcaster. She has appeared regularly on BBC Saturday Breakfast and writes for several magazines. Sarah is editor of SavvyWoman.co.uk; a website that helps women everywhere get more from their money.
You can follow Sarah on Twitter @SavvySarahP.
BWM: Best ever financial move?
SP: It would have to be buying my first flat. I’d lived in London for about a year before I decided to buy and it felt like the right time. I loved living in the flat and it also turned out to be a great investment.
BWM: If you received a tax-free prize of £10,000, how would you spend it?
SP: I’d be able to spend it several times over! I think it would be a choice between paying off part of my mortgage and investing the money in my business. The website has only been going for about two months and there’s a lot more I could do if money was no object.
BWM: Where is the best place to go for financial information, guidance or advice?
SP: Well, I’d say if you’re a woman, to SavvyWoman.co.uk! Seriously, I think the web is a great source of information as long as you don’t mind doing a bit of digging to find out who’s behind the website (and therefore what their agenda may be) and whether the information is up to date. I read a lot of the personal finance pages of the press (on and offline) and there are also some very accessible personal finance programmes on TV and radio.
BWM: Your best financial tip?
SP: Start thinking about your retirement well before you need to. Many people, particularly women, think that pensions are a waste of time. I’d say you should take the word ‘pension’ out of it and make sure that – however you save – you don’t have to rely on the state once you stop working.
BWM: What is your retirement going to look like?
SP: I’m certainly not going to be able to take a cruise every month but I should be OK financially. I started my pension when I joined the BBC and I paid as much as I could into it in the last few years. At the time it seemed ridiculously sensible but it was a very good financial move.
