Personal Finance: The Event That Expanded My Perspective

Briana Duka

A few weeks ago, I had the opportunity to attend ALSA UK’s Personal Finance event in collaboration with ThreeSixtyFinance. Personal finance is a term that means different things to different people, depending on their experiences, habits, and relationships with money. From the moment the event was first announced, I was looking forward to it as this is a topic I’m always eager to learn more about.

The event, led by ThreeSixtyFinance’s co-founder Arta Ramaj, did an amazing job of covering the wide range of aspects involved in personal finance - such as investing, saving, how to correctly use credit cards, and even touching on common financial scams like crypto scams, and the ‘Keeping up with the Jones’ idea (where people showcase their financial wins online without revealing the losses they’ve faced, potentially leading others to make poor financial decisions). 

What stood out even more was the level of detail Arta went into when covering these topics. For example, in the investing segment, ISAs (Individual Savings Accounts - a way to save and invest money without paying tax on the interest or returns you earn) were clearly explained, along with the different types of ISAs such as cash ISAs (a savings account that earns tax-free interest) and stocks & bonds ISAs (an account that invests across stocks, bonds, and funds).

There were also a few other key takeaways that resonated with me - such as seeing saving as a habit-building process rather than a pursuit of perfect numbers, and understanding the importance of maintaining a high credit score, as it can either help or hinder you later in life, depending on the actions you take now.

One of the most interesting parts that the event covered was learning that there’s actually a framework outlining the four main types of money mindsets. This stood out because the mindset you hold around money directly influences your spending and budgeting habits. While these mindsets may seem like common sense, I think many people don’t always consciously define their thinking patterns with money and therefore realise how it affects their financial behaviour. Naming and describing them in a clear and conscious way really helped me understand more about my own mindset around money.

Broadly, the four mindsets are:

• The Scarcity Mindset - believing there’s ‘never enough’ money

• The Abundance Mindset - the opposite of scarcity, often leading to overspending

• The Avoidance Mindset - ignoring your finances, avoiding planning or reviewing past spending

• The Control Mindset - the opposite of avoidance, always tracking and managing your money

It was then followed by a Q&A session, which was super interactive and insightful. I had the chance to learn more about Arta’s personal finance journey and hear her practical budgeting tips, such as using different spending pots to manage finances more effectively.

Overall, it was a fantastic event filled with valuable information, engaging discussions, and useful insights. A big thank you to Denisa for organising this event, and to Arta for generously sharing your knowledge and experiences on personal finance!

Take a look at Arta's presentation to get a better understanding of your money and your future: file:///C:/Users/Student/Downloads/ALSA.pdf