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UP THE GAINS WITH SAMMIE ELLARD-KING

financial coaching investing podcasts Sep 22, 2022

Sammie Ellard-King joins Tiffany this week to discuss why he started his business to help others get started with investing, and how he guides his subscribers in their personal finance journeys. 

About Our Guest

Director of a hospitality business by day. Run Up the Gains by night.
We want to change the way we see personal finance giving people a safe place to learn about money.

Connect with Sammie Ellard-King

Facebook: upthegainsmoney
Twitter: @upthegainsmoney
Instagram:@upthegainsmoney
 

Connect with Tiffany on Social Media

Facebook: Money Talk With Tiff
Twitter: @moneytalkwitht
Instagram: @moneytalkwitht
LinkedIn: Tiffany Grant

 

 

Transciption:

Episode 135

[00:00:00] Intro/Outro: You know what it is. That's right. It's time to talk money with your money nerd and financial coach. Now tighten those purse strings and open those ears. It's the Money Talk with TIFF podcast.

[00:00:15] Tiffany Grant: Hey everyone. And welcome to another episode of the Money Talk with TIFF podcast. So today I have Sammy Ellard King on the line. Now, Sammy is all the way from the UK and the founder of Up the Gains. He's a director of a hospitality business by day, and he runs Up the gains by night .At Up the gains they wanna change the way that you see personal finance by giving people a safe place to learn about money. And I have checked out their website and it is very approachable. I love it. So thank you so much, Sammy for coming on this show today.

[00:00:45] Sammie Ellard-King: Ah, thanks, Tiff good to be here. Thanks for having me.

[00:00:49] Tiffany Grant: Awesome. Awesome. So let's just hop right into it. What made you start Up the Gain? What was your, you know what I need to get this information out there? What prompted you to do that? [00:01:00]

[00:01:00] Sammie Ellard-King: Yeah, it came really from, I've been investing for many years and over the years, I, I'm sure that you can relate to this Tiff having your own sort of financial blog too. But you wanted to learn something, you have to go on one website you find a phrase or a piece of that, that blog post or article, and then you have to go on another website to find that bit. Then you get, and it goes from there. There's so much jargon out there and there's not really anywhere that people can come and just learn in one place. And so we really wanted to be that one stop shop for people in the UK, but equally worldwide as well. We have all, audience from all over the world, but predominantly UK and US.

[00:01:37] And we really want to be that place where people can come and learn and. We're accessible. We're approachable. We're like you, we're, we've been through it too. And that's where it came from and we're sitting there in the pandemic and I had a lot of time on my hands, like we all did.

[00:01:50] And I was like let me pull myself to good use, and as you said , I run a hospitality business by day. So when my bars were all closed during the lockdown, I needed to put myself to something [00:02:00] good cuz I'm not the type of person to be sitting around doing nothing all day. I go mental.

[00:02:05] Yeah, that was where it came from. Really. It was the drive and need to create something that helps people. And I don't necessarily know if I want to do hospitality for the rest of my life. I've done it 20 years now. I'm like, you know how this for me is my passion project and what I love doing.

[00:02:19] And I've been helping my mom and my sisters and my mates invest for years and they've all had good results. Now, so I was like, hang on. This is a business here. And I wanted to try and take it worldwide, yeah, here we are.

[00:02:29] Tiffany Grant: Yes, we are worldwide.

[00:02:31] Sammie Ellard-King: I know, I love that.

[00:02:33] Tiffany Grant: Your story sounds very similar to mine, cuz like when I started money talk with TIFF, I was in HR. Now. Granted I loved HR. It was fun, but I would do this by night and I would have to peel myself off of the computer. When I'm sitting at work, I'm like, what time is it? Is it time? Is it time? But when I got home and I started working on this, I would be up two, three o'clock in the morning. I'm like, okay, Tiffany, you gotta go to sleep. And I love hearing when people's passion projects turn into [00:03:00] their main thing. And so I'm glad that you're on that journey because it is phenomenal. I could tell for being a little further ahead. It's awesome.

[00:03:09] Sammie Ellard-King: Thanks.

[00:03:09] Tiffany Grant: That is just awesome.

[00:03:11] Sammie Ellard-King: I appreciate it.

[00:03:12] Tiffany Grant: Now I wanna get into cuz yeah. Now I wanna get into cuz you said you've been investing for some time. So I just wanna get into like, why should people invest? You hear about retirement plans and things like that, but why is this so important for people too?

[00:03:29] Sammie Ellard-King: Simply put is that, the, what you are left with at the end of the road, isn't enough. And we can work as hard as we like, and we can save as much money as we possibly can, but at the end of the day, it's never going to be what you're used to now and the only real way of you being able to get to that road is to invest your hard earned pennies. And maybe that even, that find that retirement date even comes forward by quite considerable amount of time. If you invest foot well and for long enough. And you know what really, I see this is [00:04:00] investing as part of a finance journey that everyone should be on in some capacity or not.

[00:04:04] I know the US is quite a different landscape, perhaps the UK where, we have company pensions. If you work for a corporate business you are automatically paying to a company pension, which is automatically invested for you, which helps. But if you really want to create a lot of people out there, when the pandemic came about, everyone was like, oh my God what if something like this happens again?

[00:04:25] Where's my security. Where am I? Where am I left at? A lot of people have now started down that road because of that moment in their lives. And I think it's so important to have. That backup in place and some investments and some savings. And, we really see it as part of a personal finance spectrum that we take our readers and our subscribers and our listeners on all the time.

[00:04:47] We start with. Your debt. We start with then budgeting. We then go into investing and we work. We take them on a journey and we are not a get rich, quick scheme. We're 20, 30 years let's look at your toll whole time [00:05:00] horizon. Let's change your life. As quickly as we can, of course, everyone wants to be rich tomorrow, but it doesn't work that way.

[00:05:05] That's really important for us. We are not by Bitcoin. We're by the Vanguard total stock market index. It's we're people that don't want to learn about the stock market too deeply buy some index funds, dollar cost average, which is investing the same amount each month, same time.

[00:05:22] And you're gonna see massive results over, over a sort of 10 years plus, and it's, it is been proven time and timing and time. And, stock market is designed to go up. It's not designed to stay down forever. It's designed to go up and it will. And if you have a long enough time horizon, then you're gonna be a winner at the end of the day.

[00:05:39] Tiffany Grant: Hey, it's Tiffany, are you interested in starting a podcast? We can get up to two months of free podcasting service from Libsyn with the code money talk, get your show on apple podcast. And Spotify anywhere you want get critical stats to help you grow, find all the tools and support you need to sound your very best and you can even do video, really [00:06:00] bring your podcast to life with Libsyn you can use code again, money, talk to get two months of free podcasting service.

[00:06:08] This is what I use to get my podcast. To your listening ears enjoy.

[00:06:17] Absolutely. There's no way you can fail. Really.

[00:06:20] Sammie Ellard-King: Now it's mental. They don't teach justice in schools. It's wow. Like it's insane.

[00:06:26] Tiffany Grant: So let me ask you, so you mentioned dollar cost averaging. People were listening to this and they're just like, I just don't have the money to invest. Like I just can't do it. I don't know where I'm pulling money from, things like that. What are some ideas or, tips that you can give them to get

[00:06:44] started?

[00:06:44] Sammie Ellard-King: That's a. Great question. That's a really great question. To be honest with you, anyone can invest. And the change in technology these days has allowed people to enter the market for as little as a dollar in some different apps out there that, that facilitate that.

[00:06:58] And I'm sure [00:07:00] someone has a dollar to spare and if you don't then, I'm sorry to hear that. And I hope that, we could probably look at creating a budget for you that could then look at cost saving and exercises within that budget. So budgeting is key. know it's not the funniest thing to do and sit down and look at where, how you're spending and how much, you spent on your Starbucks last month or Uber, but you know.

[00:07:20] If you can then, so let's say for example, you spent $150 in Uber last month and you bring that down to $75. Invest that $75 that you save. That could be a thing if it's not gonna massively impact your life or, you are not deep in debt. You're just getting by living paycheck to paycheck each month, you could just invest that $75 that you saved and.

[00:07:37] Save yourself, an Uber ride here or there, or ride share with a friend or there's all these different things you can do. And as I guarantee you, there's not one person this world not you, not, I, if we did a budget, there's not something in there that we could probably go, oh, I don't really need that. Or I didn't need to make that financial decision, but we all do it.

[00:07:56] We're humans, right? We see something flashy and sparkly in the shop and we [00:08:00] buy it, it gives us that dopamine hit. We need as humans to get by. It's totally fine. And I wouldn't say go cold war on it and don't enjoy yourself ever. And at all, but there's little things and little moments you can do throughout your life that you can save on and the more you invest and the heavier that you do invest, and you'll find you, you create yourself financial freedom and time freedom as it goes by. So, yeah.

[00:08:24] Tiffany Grant: Yeah. Yeah. I completely agree. Like I tell my audience all the time, my weakness is technology. So if I see a shiny new tech something I wanna buy it and I will , which is crazy. But I wanted to hit on, because you said that there are a lot of apps and stuff out there. What apps are your favorite? Whether they're UK based US based, what have you, what are your favorite investing apps?

[00:08:48] Sammie Ellard-King: So good question. So I actually use one that's available in most states in the US which is eToro. So I love the social aspect of investing, and especially with what we do. We love talking to people and, [00:09:00] discussing different tactics and what the hot stocks are right now, et cetera.

[00:09:04] And, I enjoy that chat and eToro has a social platform built in within it. And then the second side of it, which I really liked when I first started is you can copy. the most popular or the most highest performing investors. So for example, if you had a hundred dollars, you could literally copy exactly what they're doing and it will just automatically change as they buy and sell for you.

[00:09:25] So you don't even need to touch it. And you are, then what you're basically. Following the best performing investors on the platform and that do really well. So over time, it's quite a good little tool, I think. So yeah, I really like that. They're quite similar to Robin hood, if you haven't seen it, but Robin hood, I worry about a little bit because of the gamification side of Hey, you just bought your first stock and I'm not really a big fan of that.

[00:09:51] Cuz it can get a little bit like almost gambling in a way. So you have to have a little bit of about self discipline, which can be hard for people. [00:10:00] I'm yeah, is amazing. And I usually use another app in the UK called Wombat because they do they make these portfolios for you, so you can, then they have, instead of it being like the Vanguard total stock market index, for example, they'll, they might call the thing, the adventurer, and then within that, they'd have adventure stocks or they'd have the tech and it would have apple and, those types of things in with it in, within it. So you can base it on who you are as a person a little bit more is which I quite like.

[00:10:31] So you. I'm quite a techy person like you. So I like investing in tech and I always tell people, that's the best thing you should invest in, invest in what you own and what you buy, cuz you are the best investor in that product. You're buying it and yourself. So it makes sense if you own it and your stock pro. As I'll say

[00:10:51] Tiffany Grant: Absolutely. Now. See, I don't know why I asked this question cuz I just prefaced by saying that I'm a tech nerd and so now I'm [00:11:00] like, Ooh, I wanna try this. But it does sound very interesting, especially you said it was called eToro.

[00:11:05] Sammie Ellard-King: eToro. Yeah. Yeah. Check out E Toro. They're really cool. They're in most states in the us now. They've they started coming into the us about a year ago. But they've been making some good headway in most us states now.

[00:11:18] Tiffany Grant: That's awesome. I'm definitely gonna check both of those out, even though one bet's probably just in the UK, but I'm a, I'm gonna check it out regardless. And then also I just wanna add on there's one that I use sometimes for research, which you might be interested in and that one's called Trading View. So trading view has like the social aspect to it. The only difference though, you can. Trade within the platform. So it's like solely for research.

[00:11:44] Sammie Ellard-King: Brilliant.

[00:11:45] Tiffany Grant: But I do like that like the social aspect, like what are other people doing? And you can also see how they're and that analyzing the charts and stuff like that.

[00:11:54] So also that's good. Yeah, also, it's good for people trying to learn [00:12:00] like technical analysis and things like that. You can see what other people are doing, how they're interpreting the graphs and things like that. So anyway just one that you can look into

[00:12:09] Sammie Ellard-King: Thank you. I'll take that nugget away. Excuse me. I've I've seen trading view a couple of times. I've actually used their free version of the charts cuz they're brilliant. When I use their RSI to check when I'm actually gonna buy something or not. So yeah, I love it.

[00:12:24] Tiffany Grant: Yeah. It's awesome. Awesome. Now I think that's a great way to wrap up and if you all did not catch all of those apps and different resources, we'll definitely have that in the show notes for you.

[00:12:35] So don't worry if you're driving or working and you can, you don't have time to like actually go to it right now. You can always check it out in the show notes. Now, Sammy, if people were interested in finding out more about you or your platform, Where could they find you?

[00:12:48] Sammie Ellard-King: So we are upthegains.co.uk or you can be up the gains money on Instagram, Twitter, Facebook, and all of that jazz.

[00:12:58] Yeah, come say, hi, we [00:13:00] love chatting to people here in their stories and if someone's got a good new side hustle that we've not learned about yet, like we're all ears, man. Yeah, come say hi.

[00:13:08] Tiffany Grant: Yes. And y'all please check out Sammy. I'll looked at his website and it's so well laid out and it looks very approachable. It has some cartoony graphics. It's really cool. So you definitely wanna check that out and I'll have all of those links in the show notes as well. So don't worry if you didn't catch that. Thank you so much, Sammy, for coming on this show today.

[00:13:28] Awesome. Thanks so much having me, TIFF. It's been great. Thank you. Bye.

[00:13:33] Intro/Outro: Thank you for listening, joining, and being a part of the money. Talk with Tiff podcast this week, you can check, Tiff out every Thursday for a new Money talk podcast, but if you just can't wait until next week, you can listen to previous. Podcast episodes at moneytalkwitht.com or follow TIFF on all social media platforms at MoneyTalkwithT until next time spend wise by spending less than you make a word to the [00:14:00] money wise is always sufficient.

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