Managing money isn’t just about math; it is deeply tied to our personal histories, relationships, life transitions, and even how our brains are wired.
On a recent episode of the Accelerating Your Wealth Podcast, host Rebecca Robertson sat down with Kara Gammell , an award-winning financial journalist, author of Bargain Hunt, founder of Your Best Friend’s Guide to Cash, and head of editorial strategy at MoneySuperMarket.
From navigating joint accounts after major life shifts to managing finances with ADHD, Kara shared actionable insights on taking control of your financial destiny without the jargon or shame.
Here are the key takeaways and real-life rules for managing your money, your mind, and your protection.
1. Rethinking Joint Finances: Percentage Splits & Unpaid Labour
One of the biggest friction points in relationships is how to manage shared money. As life shifts—whether due to marriage, babies, going freelance, or divorce your financial setup must adapt.
Fair Splits Aren’t Always 50/50
When partners’ incomes differ significantly, splitting bills down the middle can leave the lower-earning partner with zero disposable income.
The Rule: Contribution should be based on a proportional percentage of income rather than a flat 50/50 split.
Example: If one partner earns 70% of the household income, they cover 70% of the core household expenses. MoneySuperMarket offers a Split Bills Calculator to help couples figure out fair, equitable splits based on their earnings.
Quantifying the Value of Unpaid Work
For stay-at-home parents or primary caregivers, claiming financial independence can feel complex. However, running a home and raising children is high-value work.
Using data from the Office for National Statistics (ONS), MoneySuperMarket’s Unpaid Work Calculator reveals that replacing household duties like childcare, cooking, cleaning, and driving can easily equate to over £24,000 to £30,000+ per year in unpaid labour.
Recognising this value is crucial, especially when evaluating family insurance needs: if something happens to the primary caregiver, those services must be replaced.
2. Navigating Divorce and Financial Independence
When facing divorce or relationship breakdown, financial disclosure and independence become paramount.
- Maintain Access: Ensure you have savings and accounts in your own name. Relying 100% on a partner’s sole account leaves you extremely vulnerable in emergencies or during legal separations.
- Pension Sharing Is Real: Pensions built during a marriage are joint assets. A partner staying home to raise children enables the other to build that pension; claiming “it’s my pension because I worked” ignores the household’s shared contribution.
- Run Regular “Financial Dates”: Schedule relaxed, regular check-ins with your partner to review budgets, priorities, and insurance. Framing it as “What would we do in an emergency?” takes the heat off and ensures both partners stay informed.
3. Protecting Your Future: Insurance & Pre-Planning
Most people prepare for retirement, but few prepare for mid-life curveballs. Having a backup plan isn’t being paranoid; it is being prepared.
Key Protections to Consider:
- Income Protection: Statistically, you are far more likely to be signed off work due to long-term illness during your working life than to pass away. Income protection pays a proportion of your salary if ill health stops you from working, providing peace of mind to heal without financial panic.
- Proper Contents Insurance: Don’t underestimate what you own. If you flipped your house upside down, everything that falls out is contents (curtains, bedding, clothing, carpets, appliances). Replacing an entire home’s contents due to a flood or fire usually costs significantly more than standard basic limits.
- Wills & Guardianship: If you don’t have a valid will in place, local authorities will decide who takes custody of your children and how your estate is split.
4. Managing Money with ADHD: Simple Life Hacks
Neurodiversity brings strengths like hyper-focus and quick problem-solving, but executive dysfunction can make financial admin feel overwhelming.
If traditional budgeting advice doesn’t work for your brain, try these ADHD-friendly financial strategies:
The 15-Minute Rule
Struggling with task initiation (dreading tax forms, sorting receipts, checking bank statements)? Commit to working on it for just 15 minutes. Getting started is like pushing a ball over the top of a hill once it picks up momentum, it becomes much easier to keep going.
Body Doubling & “Admin Nights”
Doing boring or anxiety-inducing tasks alone invites procrastination. Pair up with a friend either over a video call or in person to tackle your respective to-do lists together. Turning admin into an “Admin & Wine Night” keeps you accountable and reduces stress.
Automate & Out of Sight
- Pay Yourself First: Set up standing orders on payday to automatically move savings into separate accounts before you can spend it.
- Micro-Savings Apps: Enable auto-roundups on bank cards (e.g., Starling or Monzo) to automatically transfer spare change into hidden savings pots.
Give Yourself an “Idiot Tax” Grace Buffer
Forgetting a parking fine or missing a deadline often brings a heavy wave of personal shame. Instead of beating yourself up, factor a buffer into your annual budget for genuine mistakes (late fees, forgotten subscriptions). Acknowledge that accidents happen, pay the fee from your buffer, and move on guilt-free.
Final Thought
Financial wellness isn’t about perfection; it’s about control, transparency, and self-compassion. Whether you need to rebalance bill splits with your partner, update your income protection, or spend 15 minutes organising your receipts today, taking small, proactive steps gives you the freedom to handle whatever life throws your way.
Rebecca Robertson in the Accelerating Your Wealth podcast.
