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BBC Radio 1 DJ and TV presenter Matt Edmondson has launched a new podcast to find out what our spending habits reveal about us. spent!In which he and his special guests share their experiences with money and redefine the way we talk about spending.
Edmondson admits that in his life, he has ‘always been a saver.’
“I don’t care that much about material things and I’m not into hoarding stuff,” he says. “I’m quite happy with what I’ve got. I’ve never been driven by things and I always have this thought in the back of my mind that I have to save something for a rainy day.
“I’m also someone whose relationship with spending is probably on the more cautious side,” says Edmondson. “When the opportunity came up to do the Spent podcast I was really intrigued because it’s an interesting insight into the spending habits of my guests. It also tells you a lot about people.”
Why are these conversations important?
“I think financial education is pretty bad,” Edmondson admits. “At least it was for me as a kid. I don’t really remember being told anything. It was a surprise when I had to pay a tax bill because no one mentioned it to me until I was in school. I think general financial literacy is really good and something you need to know.”
Edmondson admits being ‘a bit chaotic’ adhd And finds spreadsheets and finances really hard. “I have to have meetings with accountants a couple of times a year and I dread them because I don’t really understand what’s going on.
He added, “From the spending aspect of things, I think it’s always good to be able to talk about money.” “I think it’s a bit taboo and people don’t really do it. There’s a discomfort around it but what I found through conversation is, it helps you get to know someone really quickly and any discomfort only lasts about five seconds and then actually you find you’re just fascinated by how people behave.”
How can people start feeling more confident about these topics?
“This doesn’t just apply to money, but I believe vulnerability is really powerful. I think if you’re worried about what people will think about you, that’s what you’re thinking about yourself,” says Edmondson. “The people around you love and support you, and will want to help.
“There’s no shame in not knowing something. I love being the person in any room who knows the least about something. Because not only can I learn things from other people, but I can also ask questions that will help me understand what’s going on. Don’t let your mind convince you that there’s any shame in that.”
Edmondson says he’s getting used to talking to big language models like AI assistants chatgpt“If I’m ever sent anything that’s a contract or that’s financial but I’m worried about it, and I just want a sounding board, those tools are really good at understanding the financial things clearly. English So I can understand it. It’s handy to have a little expertise that you can send messages to.”
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Overall, Edmondson says that in the future he would advise people not to put their head in the sand when it comes to finances. “There’s a lot of accessible information out there and you can get quite solid advice and guidance. I would say if you have a question about money rather than just ignore it, just have a conversation, go and ask someone.”
In collaboration with The Spent Podcast nationwide Now available to stream on all podcast platforms.