My name is Dr Nikki Ramskill and I’m a real life hospital doctor based in the UK. I decided a few years back to make some big changes in my money life, because I was sick to death (ha ha no pun intended!) of not feeling like I ever had any. I come from a working class background, and worked hard to get a good job so I could have the lifestyle of my dreams. I wanted it all – clothes, shoes, a house, a car, travel around the world, and above all, to retire in style “some day”, living life one cruise to the next.
My parents are generally quite frugal people – but as a teenager I didn’t want to be like that. I wanted to do and be and have whatever I wanted, whenever I wanted it (which was usually NOW!). I ignored their sage advice to “never get into debt” and “save for a rainy day”. This got me into heaps of trouble through my university years. I also made the classic mistake a lot of women do of giving all my money away to my then partner. I barely remember what my first ever paycheck as a doctor was spent on, and through my own apathy, I had absolutely no idea how the money was budgeted every month. I just let him deal with it.
Consequently, when I decided to walk away from the relationship, I lost everything except my clothes and makeup (phew!). My flat, my fur-babies, my money. All gone. I felt so much guilt for being the evil ex-girlfriend that I even paid more money to cover the mortgage payments for a few months, pay off joint debts we owed, and gave back my engagement ring. Its safe to say that my late twenties were spent living with my parents and saving (badly) for a flat of my own, plus racking up debt to go on holidays and buy things I wanted, just because I wanted to and I was a free agent again.
But now I’ve gone from being someone who doesn’t save or invest, to someone who saves and invests regularly AND has money left over in the bank at the end of a month. I created a lot of debt in my 20s, but I’ve now put in place a plan to get rid of this too. Do you want to know how I did this?
As a doctor, I can see the burden people carry. The worry, the stress and the shame, all due to poor money management. And its not your fault! I don’t remember being taught how to use money wisely at school. Do you?
You’re also NOT ALONE!
● 4 out of 10 adults in the UK are not in control of their finances
● 4 in 10 have less than £500 savings to cover an unexpected bill
● Around 25% normally revolve a credit card or have used high-cost short-term credit in the last year
I therefore decided to use my knowledge to help others make changes too. We could all have a much better standard of living if we followed some keys rules to manage our money properly. You don’t have to be making tonnes of money every year to do this either. It all comes down to how you spend your money and how you think about money.
My mission is to help women make more empowered decisions about money by letting you learn first hand from MY mistakes (trust me I’ve made them all). We are becoming a stronger player in the world of work, and along with that, we are commanding better salaries (although there is still a long way to go on this). We have the power to change the world around us, not only for ourselves, but for our families too. You just need to learn a few simple tricks and tips to do this and practice regularly.
So follow me and my blog for help, clarity and guidance around money. I will aim to do this in a realistic and amusing way, because money has enough of a stigma as it is without it being BORING too!
So lovely, you’re worth it, and your money is worth it. So lets get moving and improve your finances STAT!
Dr Nikki Ramskill | The Female Money Doctor