[00:00:06] Viktoriia Miracle: Hello. Hello and welcome back to happy time happy money podcast. Today we have Dr. Nikki Ramskill. She's also known as if the female money doctor has over 10 years of experience as a doctor and women's health specialists. She has trained as a money coach and runs on the word winning blog, The Female Money Doctor.Com.

[00:00:33] She's the only doctor to be featured in the top 25 feedspot list of the personal finance blogs in UK. She now helps women from all over the world to improve their mental health and well-being through getting organized with their finances. Hi and welcome Dr. Nikki.

[00:00:54] Nikki Ramskill: Hi, Viktoriia. Thank you so much for having me.

[00:00:57] Viktoriia Miracle: Oh thank you so much for coming over. I know you're in UK and it's like dark. If you're watching this episode, you will see it's like dark in your space, right in my space where like on different time zones and we still are here. And thank you so much for coming over. Well, I would love to know more about your money journey, your blogging of doctor, to blogging, to money journey?

[00:01:20] Nikki Ramskill: Yeah. I mean, it can, it seems a bit of a weird one, doesn't it? Cause I'm a medical doctor, but I now I'm helping women with their finances. And for me it started when I realized how bad my money situation was. So when I turned 30, I had this kind of a PIP funny moment, which was, I took some time out of my job.

[00:01:41] I wish at the time I was working in hospital. And in that time off, I realized how bad I was in debt. How much I have, I have no savings at all. I didn't know what I was doing in terms of my money. I had no budget. I just spent money, just put prep on credit cards. So when I came back from a year out of my hospital job, I decided to become a GP, which in the UK is I'm a family doctor.

[00:02:06] So in America, that's what you would call them. It was during that time that I realized that all the things I've been learning about to help myself when it came to my own money, problems would also help my patients and would also help my, my colleagues that I was working with as well, because money and health could have really intertwined. You know, if you've got good money situation, your mental health is better. You're able to spend money on things that make you healthy. You know, you can go out to the gym, you can have a personal train, you can buy the best vitamins. If you don't have as much money, it causes a lot of mental stress.

[00:02:43] I mean, when I had really bad money problems, Barely sleeping. I was anxious all the time. You know, it was frightened to open my own mail because I was so worried about what I was going to find. So all of that causes all the stress hormones to flood our bodies and it makes it very difficult for us to make decisions.

[00:03:01] So I'm now on a mission to help people away from that situation so that they don't have to go through it in the way that I had to.

[00:03:11] Viktoriia Miracle: Oh, that's that is so in need in society and I feel like a lot of, you know, once we early twenties would just spend money, hang out, I think they're unlimited. And then we realizing, okay, we get to, we get to get together our things and spending and budgeting and all the planning for the future. What would you say was the top, like number one, mistake that you've done in, inside of your finances and what's the number one mistake that you see right now people are making?

[00:03:47] Nikki Ramskill: So the number one mistake I made was not, well, basically not budgeting thinking that just because I was adopter and I had a regular money coming in, that I would be okay. And actually I wasn't earning huge amounts of money.

[00:04:03] More than perhaps an average person would, but it's on the scheme of things. It still wasn't the kind of money that I was spending on going out in London. You know, I needed to have a much bigger salary for that. So I was spending a bigger salary than why I actually had. Actually had a budget and I'd learned how to budget my money properly at that early stage.

[00:04:24] Perhaps I would have more savings now, perhaps I wouldn't have had the debt. So it meant that I would have had money to do the things I wanted to do with like buy a house and things like that much earlier than I did. But Hey, I'll never know that, but that was definitely the biggest mistake I made.

[00:04:39] And it is the mistake I see so many people make, lot of people think that if they just get into Bitcoin or if they just earn more money or if somehow they just start investing and it's all going to be amazing, that's going to solve the problem, but actually. What's going to solve your problem is knowing how to spend your money in the first place.

[00:04:58] And I'm not saying be frugal and not have any money to do nice things with and buy beautiful jewelry or clothes or whatever. You can still do all those things, but it's just being mindful of setting aside money for your future for emergencies, because that's when it's going to help reduce your stress.

[00:05:13] When in times of need, when you need that money.

[00:05:17] Viktoriia Miracle: I see. So budgeting and what would you say, is it the same problem that you're seeing your clients and people that you are in contact with them making? Is there any other like red flags people get to be aware of?

[00:05:31] Nikki Ramskill: Well, it's when you say things like, I never know where my money goes.

[00:05:34] You know that that's a red flag for me, cause that says, okay, if you don't know where your money goes, it's going into the hands of someone that knows how to deal with your money. So that's why the rich get richer and the poor get bore, right? Because the rich know how to handle money. So if we can be a bit more savvy, but no, just giving it a little bit of, re-direction giving it some things to do. If you have every dollar, a job, give it something to do. It's going to work much better for you than if you just allow it to kind of do its own thing, because money is really bad at telling itself what to do. We have to be the ones that director.

[00:06:10] So, yeah, that would be one of the red flags. The other one would be credit cards and not paying them off. If you use credit cards and you pay them off in full every month, it's great because then you can earn points and all sorts of bonuses by doing that. But if you put money on a credit card and then you don't pay it off in full every month, and then you keep adding to it, you're just building up this mountain of debt.

[00:06:32] That's only benefiting the banks. It's not benefiting you. So you have self into this habit of always paying your credit card off or not using it at all. If you can't, I couldn't use credit cards for a long time because I couldn't trust myself after I got myself into all that debt. Now I do, and I pay it off in full every month and I've got, it's all automatically set up.

[00:06:51] So every month it will always get paid off. But that's taken me a long time to get my head around that. And I still have to be careful because otherwise I'll end up overspending. So yeah, I'd say that was another one of those red flags. And the other thing as well is that there are different money personalities, outlet, that list.

[00:07:09] So it's not like one person will do everything the same as another person. Everyone does things slightly different names. So you'll have money personalities that will spend more. So I'm one of those and then you'll have another money personality that was very good with saving, but not very good at doing anything.

[00:07:24] I like spending their money. They're too scared to spend it. So everyone's different and you just have to work with what you've got.

[00:07:30] Viktoriia Miracle: Hmm. I like that money personalities. So how many money personalities are there?

[00:07:37] Nikki Ramskill: I was taught by a woman called Kendall Summerhawk and she's based in America, actually.

[00:07:41] She's awesome money mentor and she says there are eight different money personality types, and we've got all eight within us. We can have access to all eight of them, but three of them in particular will have the biggest impact on how we do money and how we literally do anything in our life. So my top money per society is a Maverick personality type and Mavericks tend to jump from thing to thing.

[00:08:05] They like the get rich, quick scenarios. They like the shiny object syndrome. It's the, you know, jumping around and thinking the next thing is going to be the one that's going to cause and to be rich. So I definitely had that mindset when I was younger and that's probably the reason why I got myself into a lot of debt as well, because I was just, ah, that'll be fine.

[00:08:25] We'll just do it without thinking about it. Whereas my husband is the opposite. He's very careful, very cautious. He's an accumulator archetype. So for him, he looks to everything. He checks all the details out. He gets. Deals, he makes sure that we're doing the right thing before we spend any money. And when you've got those two types of people working together, it can be a little bit, you know, you can cause some friction,

[00:08:49] Viktoriia Miracle: and you balance each other as well. Then you like balancing each other.

[00:08:53] Nikki Ramskill: It, it is. Yeah, it really does and it helps. He helps ground me and I helped to push him out of his comfort zone a little bit. So we kind of, it's a bityin and yang, yeah, it was great.

[00:09:03] Viktoriia Miracle: I love it. I think I'm more of a, like your personality type, your money, a architect type, like okay, that's going to be the next thing, you know, and I invested in Bitcoin when it was 500 or something. I was like, this is a great thing. I really like it. That's going to be next thing and you know, sometimes it is the next thing and sometimes it doesn't. So I love that. I know. I want to ask you a last question that I asked on fill in actually a blank in a sentence.

[00:09:31] So it sounds like this, if you really knew me, you will know that I am.

[00:09:39] Nikki Ramskill: Okay. So, if you really knew me, then you would know that I am a kind hearted person. I only ever want the best for other people, honestly. And I will, if I really liked somebody, which I like most people to be fair, it takes a lot for me not to like you.

[00:09:59] I will do anything for you, so, yeah.

[00:10:02] Viktoriia Miracle: So you're the supporter side. I call them, it's a leadership types. It's like a go on supporters.

[00:10:10] Nikki Ramskill: Yeah, love it. Yeah. I'm very much a cheerleader in my group. You know, I, I celebrate whenever people pay off debt, I celebrate when they say, oh, I've just done this with my savings or I've just done this with my investments. And for me, that's like the best feeling ever. Yeah.

[00:10:24] Viktoriia Miracle: Well, I know you have a free gift an amazing free gift for us. Can you share what it is and what is your best social media to find?

[00:10:32] Nikki Ramskill: Okay. So my free gift is for you to do the quiz, to find out your own money personality. And what I've done is when you find out your money posts until you get your top one, and I'm going to videos that go with that.

[00:10:44] So you get to watch videos on your gifts, your challenges, and then how you can bring that all into alignment to be working best with your money. Okay. So that's my free gift to you and that's all my website. Which is thefemalemoneydoctor.com. But if you want to come and find me on social media, I'm on Instagram and Facebook and LinkedIn.

[00:11:03] Viktoriia Miracle: Awesome. And if you're watching the listening to this episode to a link everything, you'll just scroll down, find a link of this episode and go there. You will find the video, audio, transcript if you want it to grasp on something, catch something quotes and get a contact with Dr. Nikki or me. Thank you so much, Dr. Nikki for coming over to America and sharing your knowledge and thank you so much for watching and listening to, or listening to this episode and I'll see you in the next series. Bye.

[00:11:36] Nikki Ramskill: Thank you.