A HOLIDAYMAKER has revealed how she’s bankrolled an entire £1,000 summer getaway to Crete - just using the interest made on savvy savings. Rather than brush up on the local lingo, Vanessa Thompson, 33, dedicated 10 hours-a-week to conquering money terms and making savvy investments in a fixed-rate savings account. That time allowed her to pay for the trip solely by interest earning.
However, Vanessa’s journey into learning monetary language started after a couple of false starts in her teens and twenties. At around 17, she bought contract phones for her and a friend and the language used in the paperwork meant she didn’t fully understand what she was getting into. Vanessa, from Birmingham, said: “I remember thinking, what am I looking at? What does this mean? Why can’t you put it on one piece of paper?” Vanessa isn’t alone, as new research commissioned by AI-powered global payments network, Klarna, reveals millions of Britons (40 per cent) think mastering money terms is harder than learning to speak a language - with young adults feeling the pressure most.
Vanessa added: “I didn’t understand how much money I owed and it messed up my credit score for years. I couldn't open bank accounts or get new contracts. It took years to fix it.
“Later in my twenties, I should've paid off something I bought for my house, but the language around the deadline was muddy and I got hit with this massive charge, over £100. I had to pick up overtime at work to pay for it. �.