MTTM Podcast Episode 304 – Build your Black book, savings apps for 2021 & a New Year task

1 min Read Published: 17 Jan 2021

Episode 304 - On this week's podcast I explain how to create your own 'Black book' - a place to store all of the important information your executor will need when you die. I also speak to Jordon Cox, aka 'The Coupon Kid' who shared his 10 favourite money-saving websites and apps. Finally, I set a simple money-saving task for listeners to complete by next week with the winner getting a coveted Money to the Masses Mug.

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  1. The black book is an easy name to remember. Some years ago I got some books from Age UK which do a very similar job. This is something I have begun to work on, my concerns are around it being kept updated easily and also ideas around a digital version if the paper version burned in a fire. I’m exploring options of how to display the information using flowcharts along with an updateable text page. Any thoughts on these matters?

  2. Hi Damien and Andy,

    I listen to your podcasts every week and I absolutely love them. I listen to a lot of other podcasts too, and I can afford to listen to them while I am walking or while I am working; however, your podcasts are different. I normally choose a quiet time, sit down, take a pen and pencil and I listen to them with full attention. It is so informative that I have to write down few notes for myself. Kudos to you both and the team MTTM.

    Coming back to this podcast, this podcast was extra special. I think this was the best podcast that I had heard so far. The best until this one, was the one where you have mentioned many things that you would like to tell your children when they are young. I think I replayed that to my children, it was very good. (Could you let me know the episode number to that one please or can you tell me how do I find that one.)

    Two points which I would like to add to this podcast are:

    1) For car fuel saving: I use a car navigator called Waze. When I am going on a long journey for example, like Surrey to Glassgow, I can add a stop to refuel. The Navigator gives me cheapest petrol stations along the way, how far they are from starting point and how much detour I would have to take if I decide to refuel at that station. It is a very good companion app to PetrolPrices that I use.

    2) Black Book: I have already been making a black book for my spouse and children, but my key takeaways from your podcast was 1) systematic approach, my notes are bit scattered 2) Let the trusted third person like my brother know the password to this book 3) flowchart of how money comes and how money goes every month. (The thid one was a brilliant addition)

    My request to addition to this topic is that one shall perform the dooms day scenario with their spouse/partner and children to understand how and where they will find all the information. In this trial run they will pretend that they are no more and ask questions to their partners/spouses and children about how they will find out the information. May be actually asking them to log in and find out the details on various website.
    I have not done that, but when I organise my already messy blackbook based on your podcast, I intend to do it.

    Many thanks again for your great insight in to personal finances and investments world; I am looking forward for the next one.

    Kind regards,

    Sagar Gadre.

    1. Hi Sagar

      Thank you so much for your kind words and I am so pleased that you get so much from the podcast.

      I love the idea of the trial run. I may mention that on the show for others to benefit from!

      Thanks again for taking the time to feedback and share your thoughts. It means a lot.

      Best wishes

      Damien

  3. Hi, I’m glad/smug enough to say I did this a few years ago – it turned out to be a major chore, and maintaining it is tedious given that very few renewals occur at the same time, so it is a drip-drip process throughout the year – I do add reminders to my diary to prompt me to do updates.

    I’m also security conscious and wanted a secure repository for both this information and also account access information (passwords, memorable information, other ID stuff) – I bank with Barclays and they have offer secure cloud storage for account holders – access is controlled using the same PINsentry used to access the bank account so I feel reasonably confident it less hackable than other cloud storage services.
    Does anyone know which other banks or financial institutions offer a similar service ?

  4. Morning! I’ve just listened to this episode and as always the content is great. I’d like to warn about the Sweatcoin app though. I came across it about 3 years ago, and it uses phone battery power to generate those sweatcoins so the battery levels will get depleted very quickly (not helpful if you are on a hike outside home and need to make a call or text someone). And I do think that this process resulted into my phone battery getting damaged, and I had to get another phone. Just pay attention to what this app does to your phone when you install it.

    1. I used the app about 18 months and all the offers I am sure I could have picked up through a quick google search. Overall the waste of my battery was not worth it and even if i did do enough steps for the £1000 you also had to refer 5 friends.

      The only positives is that you can donates points to charity, which I did just before I uninstalled it.

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