Alex opens up about mindless spending, debt hangovers and finding an authenic life

This week I speak to Alex Holder, lifestyle writer and author of Open Up: Why Talking About Money Will Change Your Life. Alex's story starts with a humble working-class childhood in northern England. Money was tight and peer pressure to have the latest fashion brands caused Alex some embarrassment as a teenager. University life in London saw Alex accumulate significant consumer debt, as she enjoyed all that the capital had to offer. A lucky break as an intern at an advertising agency led to a phenomenally successful career which saw Alex go from earning £15,000 to over £130,000 per annum in less than 10 years! But despite her high income, Alex spent every penny she earned and more, to maintain the lavish and glamorous lifestyle which she thought was a sign of success and that her peers expected of her. She became more and more disillusioned with her career in advertising, and felt shame and embarrassment at her flippant attitude to money and increasingly precarious financial situation. The birth of her son and a desire to become a full-time writer was the epiphany she needed to take stock of her life, reassess her priorities and improve her relationship with money. Going through cold turkey on her lifestyle spending enabled Alex to get out of debt, build savings, change her career, and move her family to live in Portugal. As Alex says 'Earning more money wasn't about more freedom. Learning to live on less money was real freedom. [You need to remember that] you're not alone. Seek out other people [who] are in the same situation, because often getting advice from people, peers that [are living a] similar life to you is much more valuable than getting advice from an expert.' This episode is packed with great insights on impulsive spending, work and identity, dealing with peer pressure, the importance of priorities and making positive changes to your relationship with money.