What, like it's hard?
Dancing to reggaeton 'till 2am, and talking about stock market investing at 11am. All in a day's work.
Yesterday’s Money Brunch session was A M A Z I N G. We went deep into stock market investing, genuinely no question was a stupid one - and someone commented that the brunch was like a breakfast at a five star hotel. Completely unrelated, I am available for catering services 😌
I’ll send a bonus edition of this newsletter out sometime this week, with a summary of what we discussed.
I’d gone out the night before to the first ever London edition of SORRY PAPI, an all-girls reggaeton party, started in the US. Despite an early start the next morning, I had no regrets going. I do just wish there had been more time available to sleep, but life is about making trade offs - and maximising the human experience.
Being in a space for women only is weirdly wonderful. To be clear, it doesn’t mean we hate men. But we just act differently when our guards are down, and when we’re not considering the people around us through a romantic lens.
But what really struck me was the organisational excellence and attention to detail. When you arrived, you got handed a branded bracelet with a pink flashing light; free stuff just makes people feel included and connected. There was glitter face painting and hair braiding (for free), there were live artists and DJs, and branded slippers for you to take home at the end of the night. Neon signs. Confetti cannons. It all combined to transcend from something wonderful into the truly magical.
I like to think this is the sort of care attendees to our events notice and love too.
And, yes, London girls do do it better.
1. How to ask for a raise
Before going for it:
Remember that asking for a raise is normal
If it’s been a year or more since your salary was last set, and if you’ve been doing excellent work during that time, it’s reasonable to ask to revisit your pay
Know your company’s raise and budget cycles
Pay attention to what’s happening with your work, your manager’s mood, and the company generally - timing is everything
How to prepare:
Do your homework; know what your work is worth
Factor in your company’s salary structure
During the meeting:
Go in having prepared what to say when you ask for a raise (there’s a great script outline in the article!)
I’d add: Pre-write an email to send to your manager after the meeting. This way your main points are already covered, you can add in a bit more colour to reflect what was said during the meeting, and it helps to make their life easier when documenting the conversation, or asking for approval from higher ups
Know what to say if the answer is “no” or “maybe” - super important!
2. Revolut is the most fraud-prone bank
A man who had £165,000 stolen from his Revolut business account has said he believes the company’s security measures failed to prevent the theft. And Revolut has refused to refund the money.
A Freedom of Information request from the BBC showed that Revolut is the most fraud-prone UK bank.
Security measures were never going to be the biggest focus for any ‘new’ banking competitor - your goal is to acquire customers! Companies like Monzo have been playing catch up (mainly because the holes were too big and the regulator got involved - investigating the company for lax anti-money laundering and financial crime policies).
But Revolut has never had a reputation for being somewhere trustworthy for your money, certainly among people in the fintech industry. Certainly, I always caution people from keeping too much money in there.
It also only recently got a banking license (albeit not a full one) - and needs to make another application to show that it meets requirements for a wide range of internal processes on IT infrastructure, compliance and recruitment.
3. Buy Now, Pay Later (BNPL) is getting closer to being regulated in the UK
The government is introducing new rules (first they’re going into consultation) to protect people who use BNPL services like Klarna and Clearpay, but they won’t take effect until 2026 (if passed).
Even though BNPL can be handy for spreading out payments, many people don’t realise that missing payments can lead to extra fees or hurt their credit scores. What’s wild is that many people have borrowed money just to pay their BNPL bills. It can be cheaper to use a credit card, or even your overdraft, but many people don’t realise this is the case.
What will the new rules mean?
BNPL companies must explain the risks clearly
They’ll need to check if you can actually afford to make the payments
There will be stronger protections (like Section 75), meaning if something goes wrong with a purchase, BNPL companies will help fix the issue
People will be able to complain to the Financial Ombudsman if they have problems with a BNPL company
Martin Lewis (🫶) has been pushing for these rules for a while. With the holiday season coming, he says it’s important for these protections to be introduced as soon as possible. And 2026 is a long way away.
Links!
Klarna, the buy-now, pay-later firm, is looking to make a Robinhood-like product for trading stocks. This is based on some internal job postings; the company is just in the early stages of scoping out if it can make something happen, so it doesn’t mean a product launch is imminent. According to
“Gen Z lives and dies by this company” - which I was not aware of.What sort of jobs gets you six figures? This article pulls highlights from this Reddit thread. For someone who is endlessly fascinated by learning about people and money — where it comes from, how they use it — this was great.
Netflix is simultaneously making a worse consumer experience and more money. Paying more money is one thing I think we can handle, but the ads! The not as great programming! I spent some time one night recently clearing out my watchlist, and, with less stuff to watch, I am inching closer towards cancelling in the near future (but am I really though?)
Bras - “you’re always going to get ‘good enough’ and not great.” Why is this so difficult for companies to get right??! 😔
The Victoria’s Secret show returned this week, after six years off. This very good article looks at its history and the role it’s had in culture.
Have a fabulous Sunday, and see you later in the week for a bonus newsletter!
BNPL regulation is good for everyone. Shows the product is growing strongly enough for the regulator to ensure consumers are protected now and in the future. Might even help it become a viable replacement for credit cards, rather than something that’s primarily used in addition to.