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Testing my Financial Literacy in 2018 with Noddle (AD)

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AD. I left school at 14, after completing little of my secondary school education. While I had great common sense, I had no qualifications to speak of. In time I was able to complete qualifications in literacy, numeracy and I.T. and this led me to a great job, and then a few not so great ones.

Fast forward to now, at 30, and I am something of a money-saving lover. I love to spend my time helping people learn more about financial topics and financial literacy is an issue that I am really passionate about. 

Recently I was invited by Noddle.co.uk to take a mock GCSE Financial Literacy paper. Noddle wants to find out if the ‘Class of 2018’ are better with money, and can make better financial decisions than past generations.

Financial Literacy in 2018 with Noddle

In September 2014, financial education became part of the compulsory curriculum, and it was around this time I started Katykicker. This is fantastic news, and four years on it is great to hear that my own nieces and nephews are being equipped with the financial know-how to become responsible adults.

I was quite nervous at the prospect of taking the mock GCSE paper and finding out my financial literacy score – but I needn’t have been! I spent just under 20 minutes completing the paper and checking my answers, and then I waited for my grade.

Financial Literacy in 2018 - Completing Noddle Mock GCSE

There were 10 questions on Noddle’s mock GCSE paper, and I received 9/10 correct marks. In the old GCSE grading system, this equates to a low A*. Phew! When I received the mark back I was really proud of the financial knowledge that I have gained.

Now I am 30, and hoping to get on the property ladder in the next year, having a good level of financial literacy has become even more important. I have been using Noddle’s free for life credit report since May 2016, to help me track my credit score. I like to know that my score is good, ready for mortgage application time, and also to ensure that my identity hasn’t been compromised. 

Recently, in the estate where I live, there was a spate of letterbox thefts and it transpired that the fraudsters had been applying for business accounts and credit cards, and then returning to steal the paperwork and bank cards. Thanks to having access to a credit report that is updated weekly with Noddle I am reassured that my financial identity hasn’t been compromised. There is even a specialist section on information relating to identity theft and fraud in the Noddle Help Hub.

I love that Noddle offers a free-for-life credit report and their scoring is simple to understand, with regular updates. An email reminder prompts me to check my newly updated score and it takes just 1-2 minutes to ensure my financial health is good. My credit score is a number out of 710, and then there is a credit rating too, which helps me to see the likelihood of being accepted for credit. This is really useful, as I do use credit from time to time, for short periods.

When I was younger I didn’t feel that my credit report was particularly important. I paid my bills on time, I cleared debts down, and I was confident I was doing everything that I could to look after my financial health. What I didn’t know was that there are steps I can take to boost my credit score, and therefore improve my chance of access to cheaper credit should I need it. With us hoping to buy a house in the next year, this is more important than ever. Even today, while writing this post, I spotted an old, unused, credit account which I’ve been able to arrange to have closed.

Financial literacy in 2018 is more important than ever for me and my family. Having enough money for pension contributions, a house deposit and an emergency fund are just some of the things I’m saving money for. I’m always seeking to expand my knowledge about credit, finances and all things related to money. I’ve really enjoyed taking part in this Noddle campaign and testing my own financial literacy.

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katykicker

Monday 19th of November 2018

I agree completely. I wish I learned about finances instead of hymns or some other nonsense I don't need but pops into my head randomly!

Sonia

Monday 12th of November 2018

I left school with many qualifications too, this year I am taking my Maths GCSE at age 41 so it's never to late to learn. Well done on your result. I'm wondering if I could get the same ;)

katykicker

Monday 19th of November 2018

Oh Sonia that's fantastic - well done you!

Michelle Murray

Sunday 11th of November 2018

Well done. Both me and my husband worked in Financial Services and know how important it is to learn and understand more about your finances. I heard about your problem regarding your letterbox though your stories on Insta. So sorry to hear about it.

katykicker

Monday 19th of November 2018

Thank you! We've got it all under control now thankfully x

Wendy

Sunday 11th of November 2018

Just reading about finances stresses me out! Noddle does sound really useful though and a great way to keep up to date with your credit score. Good luck with saving for your new home xx

katykicker

Monday 19th of November 2018

Honestly I used to be the same as you. Small changes can make a BIG difference to finances, especially over a long period of time.

Tracey Kifford

Saturday 10th of November 2018

I've just joined noddle - I'd never heard of it. Got to say my credit rating isn't as good as I was hoping ... BUT it's not TOO bad, and there's good advice there on ways to boost it. So it's going to be really helpful x

katykicker

Monday 19th of November 2018

They have some great tips. I'm sure you can get it on track quick time!

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