Case Stories
The following three case studies illustrate how our empowering approach at Holistic Money Manager has helped people from diverse backgrounds and circumstances to take control of their finances and work towards their desired long term vision. The names and some details have been changed to protect the confidentiality of our clients.
This page will be updated from time to time with further case studies of clients who have liberated themselves from money worries, so please visit again.
Case Studies
A Small Businessman in Debt – Eric
Eric is a holistic practitioner whose costs had got out of control to the extent that he had incurred tens of thousands of pounds personal debt and was unable to meet the minimum payments on his credit cards. He had also been investigated by the tax authorities and had been ordered to pay an additional 4-figure sum in income tax.
Consequently he was unable to “make ends meet” and was so distressed about his financial situation that it affected his ability to work and also his personal relationships.
Firstly, Eric urgently needed to relieve some of the stress by reducing the financial burden of his debt repayments. Secondly, he needed to learn to keep his personal and business money separate and how to monitor the cash flow of his business. Thirdly, he needed professional support to advise him which items are allowable business expenditure for tax purposes.
Sanni helped him in all these areas and Eric has now brought the costs of his business under control and is making a small profit despite the difficult economic climate. He has also found a supplementary source of income to increase his means.
Eric has disentangled his personal and business finances and keeps a close eye on his cash flow. All his tax affairs are in order and, in conjunction with additional support from a debt advisory service, Eric now has a manageable debt payment schedule. He saves regularly in a contingency fund.
I am really starting to feel so much more hopeful. It’s definitely down to the love and patience you have shown me. (E.D.)
A Couple Starting a Family – Liz and Joe
Liz and Joe came to Sanni when Liz was expecting her second child. She is a nurse and works part-time. At the time, Joe worked full-time for an archaeological company.
Their combined income barely covered their outgoings. They had already been to a debt advice agency and struggled to make the agreed debt payments. Liz and Joe were very worried that they would not be able to keep up the payments once the baby arrived.
They needed to develop money management skills and find ways of increasing their means, but be able to give quality time to their children.
Sanni helped them do both. Despite Joe having lost his job, their financial situation is steadily improving and they have reduced their debt from over £10,000 to less than £2,500. Liz and Joe have built up a contingency fund and were able to fund a major emergency repair to their house without incurring new debt. They have also been on holiday each summer.
You’ve completely changed the way I think about money. (S.T.)
The New Business Challenge – Christine
Christine had re-trained as a foot health practitioner and opened her new business while still working part-time in her former profession.
Christine’s business quickly flourished and she found it increasingly difficult to fit both jobs into her life. Yet, she was very scared of drawing any money out of her business for herself, because she was so worried that she would not have enough to pay her taxes.
Christine needed to know how much money she required from the business to live well, build up a fund for unforeseen expenses and special events like Christmas and holidays, and also budget adequately for her taxes. She also needed to learn how to balance that against the needs of her business and how much the business could afford to pay her.
Sanni gave her those skills and as a result Christine now draws a regular “salary” from her business, has given up her old job and enjoys a much better work/life balance.
