Buying a new house, organising your dream wedding, travelling the world, starting a new business…

No matter what your next goal is, Lumio, Your Intelligent Wealth Mentor, is here to help you optimise your earnings and savings for these important life moments.  

For Tom, it was a Cambridge MBA 👨🎓  

When and why did you decide that your next step should be a Cambridge MBA?

About a year before the course started - so in September 2019 - I chose to pursue it because I wasn't certain where I wanted to be, career wise. It just felt right at this stage of my life. Taking a year to learn as much as possible about a lot of different industries was going to help me envision the bigger picture, where I wanted to be long-term. And it is.  

What was your target, savings wise?

£30,000. The course is expensive plus there are living expenses and it’s a year of not earning money. I had to take out a loan as well.  

How did Lumio help you reach your goal? I have been using Lumio for quite a while, being one of its first testers. Initially it was an easy way to keep track of my finances. Having all my accounts in one place and the Spending feature opened my eyes to my spending habits and financial situation and I became more mindful about them. Made my life so much easier when I was figuring out where I was, where I needed to get and how.  What made a genuine difference, though, was when Lumio’s Mentor suggested a savings account that could help me grow my money. Before, I had the money I was saving laying around in a current account. Can’t say it was my finest decision. There were clear benefits in opening that savings account so I just went with it and it aligned with my preferences for an ethical account as well.  I’ve also set the MBA as a goal in Lumio’s Goal feature. After linking the account I was using to save the money in, it was even easier to see how close I was to reaching my MBA target. I suppose psychologically that helped.  

Have there been any challenges?

Yes! Saving as much as possible in only one year was tough but I just had to be regimented. Thankfully, I already had some money set aside so being able to put them to work was extremely helpful in the beginning.  

What’s your next step? First is repaying my loan for the MBA. I want to earn enough money to repay that each month. After that, I want to save up to buy a house. So these are the two main goals on the horizon. And they're both pretty big, so fingers crossed job hunting will go well once I’m done with the MBA!  

Tell us what you are building towards ( …  We’ll be sharing more stories from our Lumio Community soon 🤩