In the run up to November’s Talk Money Talk Pensions week, our Financial Capability team tell us about their worst and best financial decisions, their plans, and why it’s important to know what you’re doing with your money.
Here, Dominic Vallier – our Financial Capability Relationship Manager for the East – tells us about the good and bad money decisions he made as a young man and shopping around for quotes.
Worst financial decision
To buy a Vespa scooter when 19. I kept falling off so sold it at a loss!
Best financial decision
To start investing in shares when I was 18.
The first shares I bought were British Telecom and British Gas. They did very well on the first day and have invested ever since. Over the long term it has been profitable and learning when to sell even at a loss is crucial
What age are you planning on retiring or semi retiring?
My aim is to semi retire at 60 and to work part time – possibly in finance but also happy to explore a variety of options.
What is your next financial goal?
To support my son through university and then my daughter!
Which money decision, each week or month, makes you feel good?
Looking around for the correct cover and price whenever the utilities, car or home insurance come up for renewal.
Once I’ve found a better quote, I always go back to the current supplier to let them know it can be bought cheaper. Nine times out of ten they match the price I have given them.
Why is FC important to you personally?
I have always enjoyed reading about finance as a topic and personally investing from an early age.
I have delivered our qualifications and have seen first-hand the impact it has on young people – enabling them to make better, more informed financial decisions now and throughout their lives.
Finance impacts on everyone’s lives.
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