Goodbye from Moneywise: Team members from our 30-year history share their memories

Moneywise journalists on how the world of personal finance has changed, plus the readers’ stories they will never forget

Christine Michael, founding editor, 1990-1995

Looking back at the first issue of Moneywise – of course, I’ve kept my copy! – it is interesting to see how in some ways the personal finance landscape has changed beyond recognition in 30 years, and in others it has hardly changed at all.

Our lead story in July 1990 was on surviving inflation – maybe not such a worry for readers in 2020. And the cheque book cover that came with the first issue is not exactly a must-have for the smart investor today.

But the other topics we featured, such as buying a car, saving tax and investing for children, are as relevant to today’s readers as they were 30 years ago – and the baby who appeared on the first cover is probably a parent by now.

When Moneywise launched I recall one of our rivals saying they would “give it a year”. Lasting for 30 years is a remarkable achievement.

Matthew Vincent, editor, 1995-2000

There were no price comparison websites, fund supermarkets or online mortgage calculators when the magazine launched. So there was a real need for trustworthy news and guidance on the best financial deals. I am proud to have been part of the original team that tried to provide it.

Moneywise stressed the importance of taking impartial, independent advice – and that is as important today as it ever was. Back in 1990, we said it was “the magazine it pays you to buy”. I like to think that was true. After all, it only cost £1.75 back then!

David Ellis, editor, 2000-2003

For 30 years, Moneywise has provided invaluable guidance to hundreds of thousands of readers on how to become more prosperous and plan for a comfortable retirement. During that time, the UK experienced, for better and worse, a transformational change to a consumer society: at launch, we still had high street TV rental shops and most Britons held just one high-interest credit card.

During the early 2000s, personal incomes soared, credit card use exploded, and more people embraced investment options, such as Sipps and Isas, as their wealth has grown.

The knowledge of how to navigate it all has expanded as well – thanks in no small part to this magazine’s talented journalists. Many have moved on to other careers in writing, broadcasting – even politics. While Moneywise will soon be a memory, wisdom about personal finance issues will continue to be shared by our alumni in pastures new.

Ben Livesey, editor, 2003-2005

Moneywise has played a valuable role in helping small investors and ordinary families navigate complex rules, understand market trends and use the tools available to make their finances work best for them.

The magazine aspired to do this whatever the economic and political picture, be it at the outset of the online boom, after the financial crisis or during Brexit.

Moneywise’s goal was to empower and enable readers to make smart and informed decisions.

Core personal finance principles always hold true, whatever the weather, and Moneywise did its part to deliver this message.

Emma-Lou Montgomery, editor, 2005

I arrived at Moneywise in July 2005, two days before the London bombings on 7 July, a chaotic time to start a new job. It was also a time of massive upheaval for the Moneywise team. It had just been bought from Reader’s Digest by interactive investor, and a big part of my new role as editor of Moneywise and also editor-in-chief of interactive investor was to integrate the two – and to bring some of Moneywise’s much-loved, holistic personal finance insight to interactive’s typically male ‘day trader’ audience.

Looking back through issues from 15 years ago, it was a different world back then. Location, Location, Location’s Phil Spencer was a regular monthly columnist, so was journalist and TV presenter Magnus Magnusson’s daughter Sally and the MoneySavingExpert himself, Martin Lewis. I vividly remember running a competition with him to find Britain’s best money saver, which ended up with me appearing on ITV News to explain their ‘tips’ – one being to leave the pub after the first drink, so you didn’t have to fork out for a round yourself, and the whole now-infamous “if it’s yellow, let it mellow” non-toilet flushing trick to save money on water bills.

A different world indeed.

Rachel Lacey, editor, 2005-2009

Looking back on my early days in journalism, I would be lying if I didn’t say my lasting memories were long boozy lunches. But thankfully that is not how I will remember my editorship at Moneywise. For the first time in my career I felt I was able to help people and not just by reducing their tax bill (helpful as that is). I will never forget taking a call from an elderly reader who had just lost his life savings in a boiler room scam. His money was long gone, and I was gutted not to be able to provide him with any real help.

However, the experience did teach me a very real lesson about editing a personal finance magazine.

Moneywise has never been just about encouraging readers to save or invest – it has also been about helping readers protect their cash, and that unfortunate reader taught me that both criminal scams and rip-offs from legitimate firms should always be editorial priorities.

Over the years, that approach has saved our readers thousands, as you can see in consumer champion Hannah’s Nemeth’s final Fight For Your Rights column on page 28. 

I am also proud that Moneywise encouraged readers to be active consumers who demanded the best from financial services firms.

I gave up my editorship in 2009 when I started my family (although I am still writing for Moneywise) and my last project as editor was launching the Moneywise Customer Service Awards, an initiative that has been running for 11 years.

So much of personal finance content is about how to save money – but that should never be at the price of good customer service.

Johanna Noble, editor, 2009-2013

As we stand on the brink of another recession, I cannot help but think back to where I was when the last one hit.

I had joined the Moneywise team just a few months previously, when Lehman Brothers, the giant US investment bank, collapsed that fateful day in September 2008, causing panic throughout the financial sector.

I remember photographs of smartly dressed bankers, clutching cardboard boxes filled with their belongings as they left the bank, and the editorial team at Moneywise frantically trying to keep up with the news. 

Sub-prime mortgages, the credit crunch and government bailouts for the banks became familiar to us all. It was a difficult and challenging time, but it was rewarding to be at the frontline reporting these events.

More than ever, it highlighted just how important it is for everyone to be financially astute – and it was an honour helping people achieve that. 

I am now associate editor of MoneySavingExpert.com, and bailouts and sub-prime mortgages have been replaced by furlough and the Self-Employment Income Support Scheme, team lunches have been swapped for team Zooms. 

However, my time at Moneywise will always have a special place in my heart: not only did it help to make me the journalist I am today, but the personal impact has been enormous too – after all, I met the father of my two children next to the office water cooler. 

Mark King, editor, 2013-2016

I became editor of Moneywise in April 2013 and was lucky to inherit a team with a vast amount of knowledge. Two things surprised me when I took over: the high level of engagement we had with readers, and their need and appetite for money-related information.

Publications such as Moneywise are vital in educating, informing and entertaining them about subjects such as debt, budgeting, investing and retirement planning.

This is why we celebrated financial literacy becoming part of the national curriculum for the first time in September 2014, helping the next generation get to grips with personal finance from an early age. It is also why we launched the Personal Finance Teacher of the Year competition, to find and acknowledge those teachers who were embracing financial literacy education.

It is often difficult to find websites that present personal finance information clearly and concisely, and many websites are linked to companies selling products. Moneywise was a vital destination offering independent, high-quality information for those in need of help with their finances.

We tried to make Moneywise.co.uk more appealing for those readers during my time, and the feedback we had from readers proved that we were delivering the information they needed to make financial decisions.

In fact, that was probably the most satisfying thing about being editor of Moneywise – that the magazine and website helped such a large number of people.

The second-best thing about being editor was working with such a talented, hard-working and fun team. The culture at Moneywise was superb, and I am lucky to remain friends with several colleagues. From crashing into a printer on a hoverboard (don’t ask) to afternoons spent tasting Easter eggs, mince pies and sparkling wine on behalf of readers – my memories are of very good times indeed.

Moira O’Neill, editor, 2016-2018

The best thing about being editor of Moneywise was helping real people with their money, constantly learning from the amazing Moneywise team and meeting experts who have interesting opinions and ideas.

I am a natural saver and prefer to spend money on experiences rather than possessions but I think my time at Moneywise gave me a better focus on what matters to me about money. It made me feel guiltier about spending on small pleasures that whittle long term gains away, such as spending £5 on a shop-bought sandwich rather than bringing lunch from home.

I feel happiest when I have an emergency fund to fall back on, but I also take risks with my very long-term savings by investing in the stock market. And I wanted to help others to take this journey into investing by making it easy and busting the jargon that is so prevalent. I was proud to launch the Moneywise First 50 Funds and the easy passive portfolios.

I’m also passionate about helping children to learn about money so relaunching the Personal Finance Teacher of the Year Awards was a project close to my heart.

Helen Knapman, deputy and acting editor, 2015-2018

I certainly wouldn’t have had the cojones to start my investment journey without Moneywise, and its support to readers and those teaching the next generation alike will be sorely missed. 

Personally, I am proud to have worked on Money Makeovers, the Personal Finance Teacher of the Year Campaign, the launch of the First 50 Funds for Beginner Investors, and so much more. 

The magazine has been a much needed helping hand; a force to point out issues and to guide you through them so you that don’t feel you are alone.

Rachel Rickard Straus, editor, 2018-present

My mind is swirling with numbers as we put together this final issue. Thirty years of Moneywise, 361 issues, 11 editors, 18 Investment Trust Awards, 11 Customer Services Awards, tens of thousands of pounds of prize money given to the schools, hundreds of thousands won back for readers, and millions extra saved and earned by readers thanks to Moneywise. Such a legacy.

But what I love about Moneywise is that readers and contributors alike know it is not about numbers and pounds and pence. Saving, investing and making money wisely is what gives us the freedom to do what we want to in life. It is about being able to support loved ones, start a new business, buy a home, retire –  or just go on surfing holidays. The legacy of Moneywise is far-reaching and incalculable – and it has been a privilege to be part of it.

MORE MESSAGES FROM THE MONEYWISE FAMILY

Simon Read, assistant editor, deputy editor and contributor

I was part of the team that launched Moneywise in 1990. We worked hard to create a publication that was entertaining as well as informative, and the reaction from readers was positive from the start.

We went all over the country meeting them, to tell their stories and help them with their financial problems.

Before the internet, people still valued print publications, which meant we built up a circulation of 120,000 and were met with a bulging postbag every month.

Yes, readers used to take the time to write letters and postcards to us and we were grateful to read every one. They were our lifeblood and what drove us on. It was particularly rewarding to occasionally go into a reader’s home and see a pile of carefully kept back copies that they valued as a useful resource.

We really knew we were successful when the threatening letters started arriving from the dodgy financial schemes we exposed. On one memorable occasion the boss of a highly questionable get-rich-quick scheme sought out our stand at a consumer show to physically threaten us. You will be pleased to hear it was nothing we could not handle.

Thirty years on, and under a variety of brilliant editors, Moneywise has maintained the values that we instilled from the start. Our aim was to make complex financial topics easy to understand and always put the reader first.  

Sarah Coles, deputy editor, 2003-2005, and freelancer

When I was working for Moneywise, one of the best things was how brilliantly communicative the readers were. This was back in 2003, so we were still getting a huge pile of letters dropped on the desks every morning. It meant we never had to wonder what our readers were worried about, what they liked or didn’t like, or what they wanted to see in the magazine – because they would tell us – every single day. I used to say the magazine wrote itself because all we ever had to do was provide the answers people were looking for.

The most important thing I learnt at Moneywise is that a personal finance magazine is not about money: it is about people. Money is how we protect those we love; afford the things we really care about; and get the opportunity to do the things we have always dreamed about in retirement. It is not a magazine for financial whizzes, it is a handbook for life. 

One of the strangest memories I have of that time was on 7 July 2005. We were working in an office right next to Liverpool Street Station at the time, so after the bombs went off, our building was evacuated.

The team were disgorged on to the street and we spent far too long wandering around in a daze before we came to our senses and started the long walks home.

Edmund Greaves, content editor and deputy editor, 2017-19

I felt a pang of sadness when my phone rang with the call from the editor, Rachel Rickard Straus, asking me to contribute some of my personal highlights from my time working at Moneywise, having already heard of its imminent demise.

I worked for the magazine and website for just under three years, less than one-tenth of its existence. In my time, I wrote articles that uncovered failure and wrongdoing by government and financial providers: a failed government scheme; underpayment of state pension to women; a financial firm that swindled customers for a ‘free’ service. Exposing dishonesty and failure was always my personal journalistic goal.

Many of the UK’s finest journalists cut their teeth reporting and editing this illustrious magazine over the past 30 years. As such, its legacy is that it has helped to improve the personal finances of millions of people.

Laura Whitcombe, deputy editor, 2011-15

Congratulations, Moneywise, on three decades of teaching so many of us how to take control of our finances and improve our lives.

We all know how difficult it can be to talk about money openly and honestly – even to our nearest and dearest. But month in, month out, Moneywise has been there to step in and offer guidance.

Moneywise definitely improved my life – not just because of my former colleagues who have become friends but because of everything I learnt. I first joined the magazine in 2010, aged 26, working as production editor and writing occasionally. And I was lucky enough to serve as deputy editor between 2011 and 2015. 

Over the course of those four years, I became a financial grown-up.

I set up my first Isa, learnt about my pension, got engaged and became part of a financial couple. We bought our first home, took out life insurance, got married and wrote a will. 

There was nowhere else I could have worked that would have helped me with all of that as much as Moneywise did. 

And I will always remember with pride setting up the Moneywise Personal Financial Teacher of the Year Award.

Now as you bid us farewell, thank you Moneywise for all you have done to teach us all so much over the years.

Ruth Jackson-Kirby, deputy editor, 2011-2012, and freelancer

I have edited Moneywise’s Ask the Professionals page for 10 years. Over that time, I have learnt about the issues that our readers worry about most  and what their money goals are: a comfortable retirement and the ability to financially help their children and grandchildren.

Probably most importantly I learnt that the British tax code is complex and sometimes even HMRC does not fully understand it, so don’t be afraid to question a tax bill.

Happy 30th birthday – I wish there could be 30 more!

Malcolm Dunn, advertising director, 1992-2008

I joined the Moneywise advertising department when Britain was in the middle of a recession and the magazine was having quite a tough time. Thanks to a lot of hard work from all the staff, Moneywise became the leading personal finance magazine in the UK, and for a number of years more than 100,000 copies were sold each month.

It is very sad to see it saying goodbye now as I had many of the happiest moments of my career on the magazine. I hope one day it returns; it still has a job to do.

Chris Sorrell, advertising manager, 2005-2019

When I first joined Moneywise, we were selling at least 40 adverts every issue and the website was very small indeed. I saw the website go from its infancy into a huge beast with over one million page views a month.

The Moneywise awards were a fantastic way of highlighting the best investment trusts, pensions, mortgages and unit trusts and these were very highly regarded in the industry. In 2009, we launched the Moneywise Customer Service Awards, which became an industry leading pointer to the companies that were giving the best service and value.

I worked with great colleagues who genuinely cared about doing their best for our readers and I hope we made a difference to their lives.

Jeremy King: publisher, 2001-2018

For 30 years, Moneywise has delivered information that has enabled millions to make more appropriate financial decisions.

While some magazines focus on investment, others on stock picking or mortgages, no other title was able to encompass the complete financial landscape in the way Moneywise did.

The loyalty of subscribers to Moneywise over this time was tremendous, and it was always rewarding to hear how they were able to transform their personal finances.

 Moneywise has given people everything they need to start out on a lifetime financial journey.

Many committed and very able people have given a tremendous amount to ensure Moneywise delivered actionable and accurate information. From campaigns on issues from financial education for young people through to highlighting the often appalling service that customers received from financial providers, the magazine has had a positive impact on the way financial institutions deliver services.

Moneywise has chronicled a period where the financial industry changed for good; where consumers discovered tools that could help them reduce the cost of accessing financial products; and where some of those products became more transparent, and the internet offered new ways of selecting and buying them.

Large parts of the financial industry have always charged more than is reasonable for the services they provide, much of it still does. Keeping these costs down is a simple way of making more of your money, and this fact sat firmly at the heart of the Moneywise message.

It still remains an essential strategy for all consumers and the message still needs a champion. Moneywise really mattered – it truly did improve lives. Moneywise will be missed.

Brean Horne, reporter and multimedia content manager, 2019-present

My time at Moneywise has been a fantastic journey. From launching two new podcasts that help people with their finances to visiting one of our Personal Finance Teacher of the Year Award winners, I have thoroughly enjoyed my time at Moneywise. It has been a privilege to work with such a friendly, passionate team who are dedicated to helping people understand their rights and take control of their finances. 

Stephen Little, reporter, 2018- present

I joined Moneywise in 2018, and during my time I have seen savings rates plummet and the housing market stall.

Moneywise has given me the opportunity to write about some of the most important financial issues people are facing today and I have learnt so much during my time here.

Helping people with their financial queries has given me an enormous sense of job satisfaction. It is always a pleasure getting letters or emails from readers who we have helped.

One of the features I am most proud of was on the plight of women born in the 1950s who had been hit by the Government’s decision to raise the state pension age from 60 to 65. The response we had from readers was phenomenal.

Rob Griffin, freelance writer

Moneywise has been a major part of my life since 2004. My first article was an investigation into whether privatisations had been good for shareholders. I have been writing monthly features ever since.

A lot has changed lot has changed in 16 years. When I started contributing, I was 30 years old with a toddler. I’m now a dad-of-three and my eldest is heading to university.

The world of finance is also vastly different today – but one of the magazine’s main strengths has always been its ability to stay relevant to readers of all ages.

While I am sad that these are the last words I will write for Moneywise, I am proud to have played a small role in helping readers make better informed decisions.

Rebecca Goodman, freelance writer

First working as a staff and writer and then as  a freelancer at Moneywise, I like the way the magazine seeks out interesting stories, exposes and lifts the lid on wrongdoing and helps its readers, while giving its writers the freedom to tell people’s stories. 

From the money it gets back for those left out of pocket to the small businesses it promotes, its existence is a huge benefit to our society. 

The ground-breaking journalism produced by the magazine is only half the story. I have worked with some of the most talented and supportive people I know. 

At a time when independent journalism and financial guidance is so vital, it will be sorely missed.  

The messages above are from just a sample of the many people who have helped shaped Moneywise over the years. Thank you to the whole Moneywise team - past and present - who have made it what it is. Thank you to every commercial director, illustrator, reporter, sub-editor, editor, publisher, freelancer, columnist, designer, and many more. Together we have improved lives and created something of which we can all be really proud.