Make Money Better | Helen James

We’re back with the 2023 edition of our Q&A series ‘Make Money Better’ where we spend five minutes with each of our judges, capturing their insights into the world of money awareness and inclusion.

What first made you interested in understanding money and finance? If you had an “A-ha” moment, where you felt you started to understand money better, please tell us about that.

I think I have always understood that it’s important to have financial awareness and literacy. My Dad was a bank manager and taught all of us, from an early age, about the importance of understanding money and how to manage it. My Dad is still the person I turn to first with any financial questions. By teaching my brothers and I about money, he gave us the gift of freedom and empowerment.

Where did you learn most of the important things you learned about finance? Online, specific books, at home.

My dad definitely inspired my interest and engagement with finance but over the years I have expanded this knowledge with reading around the topic. I’m not one for the financial pages per se but I read and listen to a lot of content in current affairs and business and you can see the impact of finance and financial decisions in every single important topic.

What made you want to help other people with understanding money?

I believe that money (unfortunately) often equals opportunity. I passionately believe we all need to do more to create a more equal society and the world and so helping more people understand and be able to realise their potential is an important part of this. Unfortunately our world is way too weighted with those with money achieving more than those without. It feels like this is slowly shifting but it will take all of us to challenge the status quo and see change and action in this space.

Is there one particular group or community you like to help with understanding money? Why did you choose that group?

Women. A lot of the work I do is built around trying to create a more equitable world and even up the opportunities for women. The financial literacy gender gap is present and obvious, and to ensure women achieve true empowerment, we need to close this gap. As a Forbes article in 2019 reported, there are reasons for this literacy gap, but the two that struck me the most were the longer life expectancy of women (81 for women vs 76 for men) and the fact that women control the purse strings (it is projected that over the next two generations, women will inherit 70% of the future wealth). This is on top of all of the many cultural reasons that we need to work on to close this gender finance gap. As a mother to two daughters I also have a vested interest in making the world better for women!

Is there one book, influencer, academic or other source of financial education material that you recommend more than others.

This might be a little basic but Martin Lewis (UK broadcaster and financial influencer). He’s made it his mission to make money more equal and accessible. His advice ranges from ISAs and pensions to money saving tips and tricks for families.

Oh and my Dad 🙂

Is there one tip you share more than any others? What is it?

This sounds very obvious but awareness is everything – awareness of your own financial situation, and the implications of it. Without that basic, initial understanding there is little chance of being able to improve things.

Last, but definitely not least, do you have a guilty pleasure, something that you spend a little more money on than you think you should, but you get a lot of pleasure from it.

Probably holidays. When I think of the holidays my kids have experienced already, my younger self shivers. My husband and I work really hard and so when we have family time, we try and create experiences for the kids (and us) and memories that last a lifetime. That’s my excuse anyhow, nothing to do with the Margaritas 😂

For more information about CPB, you can visit their website, or connect with Helen on LinkedIn. You can also email us at michael@maiawards.org.