Financial wellbeing

developing financial freedom

'Financial wellbeing' can mean different things to different people. For some, it's about having a sense of security and feeling that you have enough money to meet your needs. It might be about being in control of your day-to-day finances and developing the financial freedom to make your own choices.

Of course, your financial priorities - and therefore how you define 'financial wellbeing' - may also change depending on where you are in your employment with the School (and in your life in general).

Just take a look below to see what has been introduced to support staff with their financial wellbeing. We'll be adding to this page on an ongoing basis so do look out for further news!

It only takes a moment to sign up to the School's benefits platform* for staff - just click here to get started. Access a huge range of discounts (including groceries and holidays), and see all your LSE perks at a glance!

You can create an account on LSE Extras using your name as it's recorded in our system and your payroll number. If you aren't quite sure what your payroll number is, you can find it on your payslip - alternatively, you can find out by logging into MyView and selecting 'Account' followed by 'View my details'.

If you experience any issues with creating an account, try using your payroll number but without the initial '0'. If it's still not working, just contact Staffwellbeing@lse.ac.uk and we'll be happy to help.

For a more detailed look at what LSE Extras can offer - including a walk-through video and previews of upcoming offers - take a look at the new LSE Extras information webpage.

*Please note that, as of October 2023, Sodexo (the company which administers the LSE Extras plaform) has completed a change of name to Pluxee UK LTD. Your use and experience of LSE Extras platform will be entirely unaffected.

There’s always the friend of a friend or a trusted family member who has a Costco wholesalers’ membership who prides themselves on being a savvy shopper by being a member. As a member of staff working in the education sector, all LSE staff qualify for Costco membership, which can enable savings across the year on household purchases, groceries and much more.

An annual standard Individual Membership is £28 excluding VAT (£33.60 including VAT), and includes a complimentary card for your partner or spouse. This membership would be available to use across all UK and international locations as well as online.

LSE staff should select the “education” option in the drop down selection when signing up online

Once signed up new members will receive a £10 online voucher and can shop online straight away or visit their local warehouse!

Please see this link for details on what documentation is required to validate membership.

With the Prepaid Cashback card*, courtesy of LSE Extras, you can make cashback savings of up to 15% at any retailer that accepts VISA prepaid cards, both instore and online. This includes more than 40 major UK retailers, including Asda, M&S and Sainsbury’s. Get the card today and you can start saving on almost anything, from everyday essentials to special occasion purchases.

Unlike some other cashback schemes, you don’t need to wait months to see the benefits – all cashback from qualifying purchases is collected in a virtual pot and added onto your cashback card balance the next time you top up. What’s more, there’s an app to help you manage your card, including checking your balance, instant top ups, tracking your transactions and viewing the latest retailer rates.

To sign up to the card, simply log into your LSE Extras account, select ‘Spree Cashback Card’ from the ‘Ways to save’ drop-down, and follow the steps.

* Exclusions apply. Please see full terms and conditions.

N.B. Please note that all purchases made on the LSE Extras platform - including vouchers, reloadable cards, eVouchers and cinema tickets - require authentication by Verified by Visa. The Spree Cashback Card does not have this functionality; therefore, you will be unable to use it to make purchases on the LSE Extras platform.

The TOTUM card is now officially available for LSE staff!

TOTUM is the UK's #1 student (and now HEI staff) discount card and app! It is the new name for the NUS extra student discount card and your TOTUM membership opens up a world of brilliant discounts, offers and vouchers on your everyday essentials, must-have gear and luxury items. In store and online, TOTUM puts over 350 UK discounts and offers right where you want them – in your pocket. And TOTUM is the only discount platform endorsed by the National Union of Students (NUS).

The app is free to download from either the App Store or Google Play. For more information visit the TOTUM website, or for details on pricing and directions on how to order your TOTUM card click here and start taking steps to improving your financial wellbeing today.

Following the financial awareness webinars in 2023, we're pleased to announce new sessions for 2024 that have been arranged in conjunction with Insight Financial Associates. All webinars can be booked and accessed via Eventbrite - just click on the relevant links below to book your place(s). Alternatively, you can sign up by scanning the relevant QR code on the posters linked to from the right hand side of this webpage.

Financial Freedom (20 March 2024)

This hybrid presentation will take place on 20 March at 1.00pm. Please follow the relevant link below, depending upon whether you plan to attend in-person or remotely. For in-person attendees, the session will be held in Cheng Kin Ku (CKK) Building, room 2.16.

This session will cover:

The financial life cycle
Mortgage and protection
Investment planning
Taxation
Wills and trusts
Your pension scheme overview

Please click here if you wish to join online

Please click here if you wish to join in-person

Financial Freedom (26 March 2024)

This session will take place only online on 26 March at 1.00pm. It will cover the same key topics as the session on the 20th, i.e.:

The financial life cycle
Mortgage and protection
Investment planning
Taxation
Wills and trusts
Your pension scheme overview

Please click here if you would like to register for this online session.

Beyond the scheduled sessions, staff can also contact Insight to arrange one-to-one appointments and discuss particular financial matters or concerns. More financial awareness events are planned for later in the year, so watch this space!

Did you know that, as an LSE member of staff, you can gain unlimited access to the Financial Times website? To take advantage of this benefit, just visit this webpage and enter your details, including your LSE email address.

LSE’s benevolent fund is a reserve of money dedicated to helping staff who are experiencing significant financial hardship and distress. Open to current or retired members of LSE staff, or their dependents, the fund is in place to support members of our community who need financial assistance by providing a grant or loan, depending on your circumstances.

Further details about the scheme, including what else you need to know and how to apply, are available on the LSE Benevolent Fund webpage.

The Money Course is a free, simple and effective money skills course to help you navigate life. How might the The Money Course help you?

You'll discover lots of practical, real-life money skills to help you manage your personal money day-to-day
You'll get ideas on how to make savings and avoid getting into debt
You'll learn how to create a simple household budget to help you take control
You'll hear about ways to prioritise the things that are most important to you, and develop simple techniques to stay on top your bills
You'll learn how to avoid getting into difficulty with debt, and what to do if you are struggling with problem debt
You'll learn more about your relationship with money and how to deal with the anxiety that it can sometimes bring
You'll get support from a Budget Coach if you need to speak to someone one-to-one.