ICR247: Lifelogging and your money
This week on the show, I’m talking about lifelogging and what it means for your money.
Wikipedia defines lifelogging as a movement to incorporate technology into data acquisition on aspects of a person’s daily life in terms of inputs (food consumed, quality of surrounding air), states (mood, arousal, blood oxygen levels), and performance, whether mental or physical.
In short, lifelogging or quantified self is self-knowledge through self-tracking with technology.
But what does this approach to personal technology mean for your relationship with money?
In this episode I talk about some of the lifelogging tools I’m using to monitor and improve my health and fitness, before talking about an interesting (and painful!) new tool which could be revolutionary when it comes to managing our money-related behaviour.
There’s also a roundup of the latest personal finance news headlines and an update on the world of Informed Choice this week.
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Personal finance news
-The UK economy could be put at risk due to a sharp rise in personal loans. The Bank of England has warned about rising car loans, credit card balance transfers and personal loans, which have risen by 10% in the past year.
-If you’ve got any old £1 coins left in your purse or wallet, you’ve got less than three months left to spend them. According to the Treasury, there are now more of the new 12-sided £1 coins in circulation than the old circular version.
-Thousands of people have paid too much tax when withdrawing money from their pensions. HMRC’s latest Pension Schemes Newsletter reveals that in just three months it has had to repay over £25m in excess income tax taken from savers on pension funds withdrawn using ‘pension freedoms’.
-BMW Group has announced that a battery-electric Mini will go into production in 2019 at the company’s factory in Oxford. The electric drivetrain for the new electric Mini will be built in Bavaria before being integrated into the car at Plant Oxford, BMW’s main production location for the MINI 3-door Hatch.
-Estate agents are suffering as a result of a slowing housing market. Foxtons reported profits falling by 64% in the first half of the year and Countrywide reported a 98% fall in profits, saying they would not pay a dividend to investors.
Useful links
–Perennial Seller: The Art of Making and Marketing Work that Lasts, by Ryan Holiday
–Your Move: The Underdog’s Guide to Building Your Business, by Ramit Sethi
–Send me your questions for episode 250
Get answers to your personal finance questions
Do you have a personal finance or investing question for Martin?
Email martin@icfp.co.uk or ask on Twitter @martinbamford.
You can call our dedicated podcast voicemail line on 020 8144 2745 with your question or visit www.icradio.co.uk/voicemail to leave an online voice message.
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