Search

The Fierce Girl's Guide to Finance

Get your shit together with money

Category

Get a money mindset

Fear, failure, shame: are there red flags in your relationship with money?

Money is never just money.

Money is feelings.

Money is fear or worry or failure or shame. It’s hope or excitement or success or freedom.

It’s a currency that we use to communicate things.

How much you spend on a gift reflects how much you love someone.

How much you spend on a wedding reflects your standing in the world.

How much you spend on a car reflects how successful you think you are.

It shouldn’t, but it can.

Money is never just money.

It’s wrapped up with how you feel about yourself and your worth and your future and your past.

I wonder if that’s why women have a complex relationship with it. We are often in our feelings.

It’s why opening our banking app is rarely a neutral experience. It’s not like checking the bus timetable. We open that app and we feel things.

We hope there’s enough money in there. Or we feel happy there’s more than expected. Or we feel satisfied with our savings. Or we feel disappointed with our spending habits. Or we feel ashamed that we aren’t where we think we should be.

How did you feel last time you thought about money?

Was it this morning, when your inbox had a bunch of emails about the new season collections from a bunch of stores? Did you feel desire? FOMO? Annoyance?

Was it last night, when you had to pay some bills for super boring stuff? Did you feel annoyed about the pain of adulting?

Was it yesterday, when your kid’s school told you about the next thing you have to pay for (excursions, costumes, sports, devices)? Did you feel exhausted?

I think it’s useful for all of us to identify and unpack some of the emotions behind our finances. My hunch is that many of them are negative. And is there any better way to turn your emotions around than to feel them, speak about them, hold them up to the light?

How about I tell you some of my feelings, and you can think about yours. 

If I had to pick two words that I associate with money it would be: fear and safety.

The fear is about not having enough to do the things I want, to live the way I want. I don’t really know where it comes from. Maybe my family. My dad was a successful lawyer with a tendency towards impostor syndrome. He was always looking at the downside and planning for it. (What if he lost his job etc.)

Maybe I picked up some of this; maybe I was just born with it. Either way, I’m scared of not having money, but on the other side of fear is safety, and that’s what I aim for.

I would much prefer to have money in the bank and a good income, so I can plan against the slings and arrows of outrageous fortune. My ex used to accuse me of being obsessed with insurance; I’d argue there are worse thing to be obsessed with. But he’s not wrong.

I’m not saying this is the only feeling I have about money, but it’s kind of the bedrock to everything else. I prefer not to buy expensive things for the sake of it, because that money could be better used to shore up my safety barrier. It also means I experience guilt when I do spend, because I feel like I’m chipping away at that barrier.  Guilt is a default setting with me though, so it’s not that big of a deal, and I do still spend money on shit (hello new Mecca palette!).

Overall, this emotional relationship to money has worked well for me. I was able to leave a marriage and land on my feet, financially, because of the decisions I’d made. I have a manageable mortgage and an old car, because I have distaste for debt. It means I can take some career and income risks at this stage, because I’m not a slave to a giant black hole of home loan and car debt.

Sit down and check in

I encourage you to think about how you feel towards money. I see a lot of people, especially women, feel shame about it.

They’re ashamed because they don’t feel in control, think they spend too much, or don’t know enough about it. They think it’s somehow their fault – when in fact society has done literally everything possible to make them feel like this – from not socialising us to discuss money, through to telling us we are ugly and fat if we don’t buy products to fix ourselves.

So please, sit down in a quiet moment and list your emotions about money.

See if you can unpack them a little. Do they stand up to scrutiny? Are they serving you well? Or are they holding you back?

The good thing about feelings is we aren’t just stuck with them. We can always change them, with some work. Time to have a long chat with money … and show it who’s boss.

 

Ever feel like finance isn’t your thing? It’s not you, it’s them

Sometimes I just can’t keep my mouth shut.

Working in finance, I’m constantly surrounded by a majority of men. It’s not my ideal but it’s a fact of life.

But last week I couldn’t hold myself back. I opened a financial advice industry magazine and was confronted by what I can only describe as a sausage-fest.

It’s an ‘industry roundtable’ organised by a major life insurance company. Don’t be fooled by the two women in the photo; only one was actually allowed to be part of the roundtable. I assume the other was rounded up to give some gender balance to the pic. FFS.

So I got fired up and emailed the editor to complain about this. Something of a risky move, given I have to pitch stories to him occasionally. But hey, when the feminist fire is burning within you…

He was actually great and accepted that it’s not a good look, and as I suspected, it was the paying client who made the call. He said they normally have a minimum 30% females at their events. I’ll take him at his word.

Anyway, it got me thinking about my Fierce Girls. No wonder so many of us feel like finance isn’t our thing. No wonder we don’t feel inspired to work with investment professionals, when they are largely white guys in suits.

In case you (or the men’s rights activists, who take a strange interest in this blog) think I exaggerate, check this out.

I went to two of the ‘go-to’ finance industry sites to get a feel for the visuals. Here’s a panel of ‘investment experts’.

Oh hey there white guys in suits. But wait, maybe I’m just picking one example. Here’s another.

I mean, sure there are more white guys in suits, but maybe I am just being selective. Here’s one more.

Don’t be fooled by the glasses or the bald heads; these are all different people. The only diversity is the depth of their tan and the choice of whether to wear a tie.

I’m not blaming the publication completely for this. These are the spokespeople that the investment managers put forward.

Anyway, just to round out the example and test my hypothesis a little more, I jumped onto another industry website. Here’s a list of the ‘industry expert’ articles.

You guessed, more white guys! Surprising, I know.

But I’m not just here to throw shade at the ingrained gender imbalance of the finance sector. Although that is fun.

And I have nothing against white guys in suits personally. (Let’s be honest, they form a significant part of my dating portfolio).

What I want to say is this.

If you feel excluded from the financial world, IT’S ABSOLUTELY NOT YOUR FAULT.

If you feel like money, investments and finance are complicated concepts, remote from your life, IT’S TOTALLY UNDERSTANDABLE.

If you don’t identify with the blue-suited, white-shirted men of the finance industry, IT’S COMPLETELY REASONABLE.

There are definitely smart and talented women in finance. I know a bunch of them.

There are wonderful female advisers and money coaches like Vivian Goh.

There are boss-lady investment managers like Catherine Allfrey (ok I don’t know her personally but she works in my building and I secretly fangirl her from afar).

There are great female executives running super funds like Deanne Stewart (I fangirled her at an event once, in person).

There is even an amazing woman on the Reserve Bank of Australia Board! I’d go so far as to say I know Carol Schwartz, but I don’t think she knows me.

There just aren’t as many of these women as there are men. And it’s taking aaaaages to address the imbalance.

In the meantime, what can you do in the service of smashing the financial patriarchy?

  1. Search out like-minded women and their businesses. Women supporting women is obviously the best way to start. There are so many great women, so ask around or get Googling.
  2. Be conscious of the bias, then ignore it. Feel totally free to reject the notion that finance is a white guy’s game. It’s totally open and accessible to women who want to get acquainted. Resources like the one you are reading are evidence of that.
  3. Call out gender imbalance when you see it. Like I did to the poor editor mentioned above, if you see events or articles or even companies that are far too male, comment on it. We accept the behaviour we walk past. Also, feel free to take your business elsewhere.

And if all fails, just create your own squad, Taylor Swift, Bad Blood-style. That’s my master plan. Are you in?

Just a conversation with a (very) sassy friend who has mastered the art of life

So that title is a quote about me. I love it, but feel a little fraudulent because I have definitely not mastered anything.

Anyway, it’s by the awesome Erika Jonsson, and we are having a bromance, but the girl version. (Why isn’t there a female version of that concept? Oh that’s right, because it’s socially acceptable for women to admire and be supportive of each other. Yasss gurrrrl!)

She interviewed me for over an hour and somehow made sense of my feminist ramblings, publishing it on the Six Park blog. So, here I am, spilling the tea. Enjoy.

WHAT WAS THE FIRST THING YOU REMEMBER SAVING FOR? HOW LONG DID IT TAKE?

I didn’t really get proper pocket money as a kid, but when I was 13 I started working at a printing shop for $5 an hour and I saved up for a boom box – it was a double-cassette plus CD player, so I could use it to make mix tapes. I reckon it took me about six months and I had it until well after I moved out of home, so it was a pretty good purchase!

WHAT PROMPTED YOU TO START THE FIERCE GIRL’S GUIDE TO FINANCE?

I was doing work on what was then called Money Smart Week, and one of the things they asked everyone to do was have workplace events. So I got a bunch of PR girls together and ran these lunchtime seminars preaching the gospel of superannuation and it went from there.

In terms of launching the blog, I started out treating myself as though I was a client and considering my objectives and channels. But perfect is the enemy of done, so I just ended up starting and building the site myself (which is why it’s not very fancy).

Not that long ago I was listening to Gloria Steinem in conversation with Oprah, and her advice was: “Do the thing that only you can do.” There are so many strands to unpick before we can get close to gender equality, but the thing that I can unpick is helping women realise it’s not unfeminine to be good with money. I want to change that thinking that says we’re all about spending. Money is at the core of how much power we have.

WHY DO YOU THINK EXPENSIVE SHOES (THINK LOUBOUTINS AND MANOLOS) HAVE BECOME SUCH AN IMPORTANT REFERENCE POINT IN TALKING TO WOMEN ABOUT MONEY?

My theory is that it’s women signalling success to other women. I think women are particularly socialised to talk about how we spend money but not about how we make it or invest it. But money itself doesn’t signify power; it creates power by giving you choices and opportunities. If you’re spending that money on shoes that aren’t even very comfortable, you’re not taking control of that power fully.

One of the things that troubles me a lot at the moment is the obsession with cosmetics and injectables and really expensive beauty treatments. I’m not judging women who use these services, by the way, but every time you’ve got a 26-year-old woman getting Botox, it’s a way to disempower her, because she’s now embraced a spending pattern that will last through her 20s and beyond. We’re talking about hundreds and hundreds of dollars being spent, mostly by women, who think this is what they need as a minimum to show up in the world. It’s fine if you have all the money – great, go get a facial – but don’t do that before you’ve paid your bills and set yourself up for a life that will give you power and opportunities.

FIERCE GIRL IS FULL OF GREAT POP CULTURE REFERENCES, INCLUDING ICONIC FILMS AND SERIES SUCH AS LEGALLY BLONDE AND SEX AND THE CITY. WHO ARE YOUR FAVOURITE CHARACTERS AND INFLUENCES WHEN IT COMES TO MONEY?

One of the biggest singers in the world at the moment is Billie Eilish, who’s quite androgynous, and I find that really exciting – she’s giving a different version of femininity that’s not all about crop tops or high heels. When it comes to money, though, the women I admire the most are probably Beyonce and Rihanna. They’ve kept control of their business decisions and their empires and they’ve flipped the narrative. I know that’s a very capitalist way to look at things but if women can take away even a small amount of the thinking that says money isn’t about what you can spend but about the choices and opportunities it gives you, we’d all be better off – we’d all be a bit more Beyonce, right?

YOU WROTE A POST ON SPENDING LESS AND SAVING MORE THAT WENT “LOW-KEY VIRAL” – WHAT ARE THE MOST POPULAR POSTS ON THE BLOG, AND WHY DO YOU THINK THEY’VE RESONATED THE WAY THEY HAVE?

The one I wrote about how to structure your bank accounts was wildly popular – it’s not rocket science, but it was a great simplification of how to think about things. By far the most popular ones, though, are the ones that are the most personal, including a recent post about the single biggest risk to your money. As someone who’s come out of a divorce, I’m fortunate to have an income and a career, but I didn’t come out of that situation in what I thought was a very fair way. If I could go back in time I would have protected myself a bit more. I think people really resonate with the authenticity of those kind of blogs. People connect with people, not instructions or tables – they want to hear stories.

(Erika’s note: one of my personal favourites, and the one that introduced me to Fierce Girl, is the Mindful Spending Manifesto, which doesn’t decree that you shouldn’t buy anything, but that you shouldn’t buy everything.)

WHAT WAS THE FIRST INVESTMENT YOU MADE OUTSIDE YOUR SUPER?

I’ve been putting extra into my super since I was 21 – though I lost a decent chunk of that in my divorce – and everything else has gone into my house. Other than a little Raiz account, I’m probably overweight in property! A lot of my wealth has gone into my home, but I’ve done that quite consciously because I do have a decent amount of super so I just really want to smash my mortgage while I can. When I feel like I’ve done that a bit more, I’ll probably go outside and invest in ETFs.

HAVE YOU EVER WRITTEN ABOUT BUYING FEWER COFFEES?

No! I’m not going to tell you how to write your Mindful Spending Manifesto! You need to decide what’s your splurge and enjoy it – then be clear about what you’re having and not having. You should see my premium spirits sideboard – there’s nothing on there that’s less than $70 or $80 a bottle, but I won’t buy cocktails at a bar. Everyone has their own thing that they have to work out. You shouldn’t have to feel bad about the things that make you feel good about your life, but you should put time and effort into thinking about them. Ask yourself whether the behaviours you’re engaging in bring you closer to your goals or push you away from them.

WHAT’S THE ONE THING YOU WANT EVERYONE TO KNOW ABOUT MONEY?

The thing I really want women to believe is that perfect is the enemy of done. There’s no perfect investment, there’s no perfect way of doing things – just do something. Don’t wait to be a perfectly informed investor – you don’t have to be Warren Buffett; there are so many small things to do like reviewing the dull insurance and consolidating your super. Get in there and have a go. You can always do a little bit better without having to be perfect.

Final note from Chief Fierce Girl: this isn’t a sponsored post or anything, but if you are wondering how to get started with investing, Six Park is totally worth checking out.

3 useful things to help you win the war on adulting

I’ve been adulting hard in 2019. I  finished a bathroom renovation and I got my car registered. Ok, maybe my dad took the car for a service and inspection, but I most definitely did the paperwork.

Anyway it got me thinking about what it means to be a fully functioning adult. Because even though I’m now 40 (wtf), I sometimes feel like a 21 year old, just trying to keep all that adulting, life-admin shit together. (Hence why my dad steps in now and then).

I don’t even have kids and I find it hard – so let me salute all the ladies out there who can deal with car rego and school permission slips (do they even have them anymore or is there some sort of app?). Anyway, I don’t know how you do it all.

But when it comes to money, I am doing ok. So I want to share with you a few things that every girl should have as a serious, responsible adult. This is not an exhaustive list, obviously, but it’s not a bad place to start.

1. A stash of emergency cash – An emergency is not a new outfit for a wedding that you forgot about. It’s your car breaking down and needing expensive repairs; it’s your hot water system exploding and needing immediate replacement; it’s getting out of a bad relationship that’s affecting your mental health.

The spectrum of reasons is wide, but the solution is the same: put at least a few thousand dollars aside with a different bank  –  so that you can’t see or easily access it in your everyday banking. Ideally, you want to have three months of living expenses in there. But if you can only manage a hundred or a thousand, do that and keep building a little at a time.

Some is better than none, so don’t let the ‘three month emergency fund’ rule keep you from getting on top of it.

2. A good banking or budgeting app – One thing I’ve learnt about money is that it’s a needy friend. Your bank account is totally NOT OK with sporadic texts and comments on her Insta posts.

She wants you to check in with her all the time, see how she’s feeling, has she been too busy, is she feeling sick, did someone absolutely flog her on the weekend at a bar around midnight. Ya know, the usual.

We really need to be frequently reviewing our spending, looking for cost overruns and also checking there are no suspicious transactions (cybercrime is real, y’all). Otherwise it becomes an avoidance thing of ‘God I don’t even want to look’. And a spiral of stress.

The next level of adulting to consider is a budgeting app that helps you set up buckets of money and lets you know if you’ve hit them. This is for the advanced level saver, and I know it’s not everyone’s gig. But something to consider.

When I feel like I’m getting a bit outta control, I track every dollar I spend (as per my new year resolution). I enter it into the TrackMySpend app, and it shows me where all my money goes. I like to enter it in manually  (as opposed to just reviewing my bank transactions), because it makes me think about each purchase.

In a cashless world, it’s easy to ignore exactly how much cash you’re dropping. So this is one way to create an additional mental barrier. (And yes, ‘Personal & Medical’ category, I see you and your outsize contribution. So what if I spent $400 at the naturopath? I haven’t even been to Priceline, so there).

3. A decent income protection policy

I know this is boring, but seriously, what happens if you can’t work because you’re really, seriously sick. Cancer, depression, an accident.

For a while there I was paying for this through my superannuation. Which is totally fine and if you do this, then great. I ended up getting a professional insurance review (for free, when I worked in a financial planning company). The outcome is a Rolls Royce policy that even pays my super if I can’t work. It’s very expensive, and I wince when I pay it every month.

HOWEVER, I am a single gal with no safety net other than my family, so I want the best. And then I hear about people like Kim, who beat breast cancer at 30 and had a double mastectomy; and is now battling cancer a decade later. Or the guy I met on the weekend (who is super cute and sweet, but that’s not relevant). He was in a car accident at 22 and spent four months in a coma before having to relearn pretty much everything in subsequent years, due to traumatic brain injury.

And I think damn, I guess I can afford it.

So, if you have an income, you should probably insure it. Talk to your super fund if you aren’t sure how to get started. (Also, note this is not the same as Life and TPD insurance that comes as a default; you need to add it yourself with most super funds).

Read more about the exciting topic of insurance here! We’re all going to die – so let’s just talk about it here, then move on

And that, my friends, is a completely randomly chosen list of things to help you win the war on adulting.

How much is enough? And other deep questions raised by Netflix

It seems like everyone is talking about Marie Kondo, the Japanese tidying-up queen. Her book even spawned a new verb: to KonMari.

Marie Kondo is now on Netflix, where she helps people who have become smothered by their own ‘stuff’, exhorting them to ponder each item and ask ‘Does this spark joy?’. (If it doesn’t, it’s out.)

I’m a fan of the concept.

When I left my marriage, I basically just took my clothes and shoes. Well, ok.  I also took the  Tupperware, the Le Creuset and my Mundial knife. A girl’s gotta cook.

I started again, and it was strangely liberating.

Yet how quickly we acquire more things. I’ve told myself no more kitchenware, but it’s hard. I recently gushed with envy over a friend’s omelette pan.

Which brings me to the a question I’ve been pondering for a while now: how do we know when we have enough?

Enough what, you ask?

Anything, really.

The big challenge of our modern lives and disposable incomes is simply saying no.

When you have money, there’s always more you can buy.

Maybe it’s one more cheap T-shirt. Maybe it’s another pair of designer heels. Maybe it’s one more eyeshadow palette, to get one particular colour.

Whatever your thing, you have the ability and opportunity to continuing indulging in it.

But there comes a point, hopefully before Marie Kondo has to step in, when it’s time to ask the question: is this enough?

It might be that you’re running out of space (or money).

Maybe you have so many Lorna Jane crop tops you struggle to rotate them efficiently (I hear that’s a thing, wouldn’t know myself).

Maybe your wife gets cranky at all the space your bikes are taking up in the garage (sorry dad).

Or maybe you just start feeling guilty about the impact you’re having on the earth.

I’ve been talking to people about this to get their view on this thorny topic.

I asked a girlfriend at work how many work outfits are enough. ‘Ten’, she replied. Two weeks of new outfits, then rotate again. ‘After all, a man normally has a couple of suits and ten shirts’.

The girls in the team nodded thoughtfully, then all agreed that was a preposterous notion. We could quite literally wear a new outfit for a month without duplicating it.

Which really gives you pause for thought. (And hopefully I have that pause, next time I’m in a changeroom.)

Pick your vices

My dad’s advice is to try and limit your number of vices to one. He has chosen bikes, and associated bike gear, as his vice. He claims to have culled to the very reasonable number of three. His wife remains unconvinced, but this is a woman with a chandelier in every room, so I’m not sure she’s blameless.

And if we all have our different vices, we also need to have things we’re happy to be a tight-arse about.

I have an obscene amount of fancy activewear, but use a Kmart handbag. My friend has an obscenely large collection of designer bags,  but buys cheap gymwear. We revel in judging each other about it.

It all comes back to mindful spending (more about that here). This is a concept that I have been spruiking for a while now. Amazingly, this week I spoke to someone who has adopted it!

She said it helps her when she’s having that moment in a store, for example, wondering whether she ‘needs’ a new top, or is just buying it for the sake of it.

But what I like about this approach is that it can actually give you freedom, not just constraints. Mindful spending helps you pinpoint those things that ‘spark joy’ and allocate resources that way. Guilt-free, by the way.

So there is no easy answer to ‘how much is enough?’, but there are definitely some road signs to help us on the journey to find out.

 

What if you’re actually smarter with money than you think?

Do you ever read about finance and feel dumb?

Me too.

I know, I know. “If Chief Fierce Girl feels challenged by the murky world of money, what hope do I have?”. But stay with me.

It’s all about gatekeeping: if people make money sound complicated, then you will definitely need their expertise to help you, right? And pay for it, of course.

And look, investment can be complicated. I studied it, and it was haaaard. I might have cried a little while trying to calculate franking credits.

However, that’s the pointy end of finance. There’s also a soft, welcoming end that is actually not that complicated at all.

I summed it up when I introduced you to the Four Friends Who Will Make You Rich. (Read it here, it’s low-key one of my best).

And so it annoys me to see the tone of ‘talking down’ that seems to pervade the finance world.

It makes financial success seem harder than it is.

I came across this finance industry research recently, that claimed to be ‘alarmed’ by the poor financial literacy of Australians.

But when I read the questions it was based on, they were really tricky. They were phrased like those multiple choice questions in an exam where you question yourself,  freak out, and start worrying. Like maybe it’s A but what if it’s B and I don’t know if C sounds ok and maybe I’m just stupid and I should probably go home *. (*Actual internal monologue from my last finance exam).

Look, I agree we could do better on the financial literacy front. But it would also be good if the professionals would stop telling us how dumb we are.

What if they gave us a message of empowerment and encouragement?

What if they said ‘Focus on what you do know, boo, and go from there!’.

Well, they don’t have to, because I am telling you all of that. Don’t assume that you don’t have the smarts to nail your finances, because you totally do.  

In fact, here are some totally easy things you can do today (or tomorrow, if you’re tired. No pressure, take a nap if you like).

Save in your sleep. The easiest/only way to save properly is to do it before you get your sticky fingers on it. Set up an auto-transfer  into a savings account for the day you get paid.

Or see if your bank does round-ups, where it takes little amounts and stashes them away for you.

I know ING does, because those annoying Isla Fisher ads told me. I guess they work huh.

Invest while you spend. One step further to the round-ups mentioned above, apps like Raiz take little bits of your money and invest them for you.

I used to be in love with it, but it won’t sync to my Macquarie bank accounts so it’s kind of dead to me now. But if you want to dip your toe in the water of investing, check it out.

Some super funds do it now too, so check your fund’s website

Own your super savings.  Ok, it’s not a sexy topic, but a tiny bit of effort makes a big difference. With just one or two calls, you can cross that shit off your to-do list for years.

Step 1: roll your multiple accounts into one. If you’re paying multiple fees and insurance STOP THAT NOW. It’s literally throwing money away. And guess what, your primary fund will do the hard work for you. Call them up and ask! A friend of mine did it recently and was stoked with how easy it was.

How do you choose your primary fund? Fees and returns. But if you can’t be bothered reading a bunch of websites, the big industry funds like Australian Super, HESTA, REST, First State, Hostplus and CBUS are pretty competitive. You are possibly in one already from your days in retail or hospitality. Within those big players there isn’t a lot of difference, so don’t overthink if it means not making any decision.

When you speak to your chosen fund, you should also ask them about your investment option. If you don’t choose one proactively, you get shoved into the default.

Now I don’t know about you, but I am not a default kinda girl. I don’t want to be in the same option as 60 year old Susan.

Given my age (young and cool), I can tolerate more risk for the chance of more return. So I’m in the high-growth option. Your fund should be able to provide what’s called ‘simple advice’ to help you decide (for no cost).

I swear, just doing these things, and making sure they have your correct contact details), can make thousands of dollars difference to you when you retire. (I have a whole post about super if you’re really interested: click here).

So anyway, did you see what I did there – started off with a motivational post and snuck in a whole section on super!

I know, I’m tricksy. Sorry not sorry. But let me get back to the original point – making good choices with your money doesn’t need a degree. It is a series of small decisions, made over time. And every good one helps.

You got this, so go forth and be fierce!

Don’t get mad, get busy*

*Actually, get mad too. It’s fun.

Fierce Girls, I wrote a different post for you last week. But before I had time to post it, the election happened.

It didn’t go the way I’d hoped. I got together with a few friends to watch it unfold on ABC, and it was like the worst party ever. (Great food, wine and company notwithstanding).

But maybe you voted for the LNP Government, and hey that’s cool, because this is a democracy. It’s not a perfect system, but it’s far better than the alternatives.

In the same week though, Alabama passed some of the most punitive and backwards abortion laws in the world. If you’ve somehow missed it, this is some next-level Handmaid’s Tale shit.

Anyway, this is not an election analysis.

It’s about power.

Cynicism is our greatest enemy. And the antidote is activism.

I’m paraphrasing Billy Bragg, one of the greatest influences on my life.

I know you’re not ready to rise up in the streets and stuff, and I’m not saying you have to. Activism takes many forms.

So does power, and it’s not all in the corridors of Parliament House.

One way to wield power is through your wallet.

From nailing your bank account to reining in frivolous spending, money is one of the most effective ways to give the finger to the patriarchy.

Every dollar you earn and own is another way to increase your choices.

Every time you put money towards buying a home, investing for the future or creating a savings fund, you are putting more space between you and chaos.

Because if there’s one thing the powerful men of the world worked out a long time ago, it’s that money equals power.

That’s why I ask, nay implore you, to think about how you spend it.

I know this sounds like a feminist conspiracy theory, but anyway… The more we’re convinced to allocate our resources to beauty, fashion and anti-ageing, the more power we concede.

I’m not saying never have a facial. I’m not saying don’t buy a Fenty Beauty palette (because holy shit, it’s great).

I’m just saying that if you are spending hundreds of dollars on fillers and botox before you’ve set up an emergency fund, you are not stepping into your full power.

Or that if you have bought a new dress for every wedding you’ve attended, while your partner has rolled out his five-year-old suit again and again, you’re possibly not making the most of your money.

And if you would like to see Paris before you die, but you accidentally keep spending money on twenty-dollar cocktails and cabs home, it might be time to take a different approach.

A long time ago, my friend Gigi and I cooked up this great list of money-saving tips (which went low-key viral btw). Read it here.

And I want to give a shoutout to Gigi, because she is the Fierce Girl we all need.

Girlfriend packed herself up and moved to New York City eight years ago. She rents an adorable little apartment in the East Village with her cat Iris, living her best life as a single gal. Kind of like Sex and the City minus the designer clothes and poor choices in men.

And she has also been saving like a trooper, and is very close to buying her own apartment in Manhattan. #goalsAF

Gigi and I still have mad holidays together and go out drinking and make questionable decisions late at night. But we also respect the fact that we can’t have all the things, all the time. And so we make our own lunches, buy things on sale and catch public transport.

Anyway, this is a really long way of saying please take charge of your money. Do it for yourself and for the sisterhood. As Queen Bey says, “Best revenge is your paper”.

Perhaps make a Mindful Spending Manifesto and see if you can stick to it. That way you have more chance of reaching your short- and long-term life goals – regardless of whichever pale, stale and male PM is in power.

 

‘Don’t ask, don’t get’ – and other life pro tips for IWD2019

In my view, every day should be International Women’s Day. We have thousands of years of patriarchal oppression to make up for right? But since it’s only once a year, I’m writing in honour of it.

Normally I just talk about ‘money this’ and ‘finance that’, but today I’m sharing a random collection of life and career tips that I’ve collected over the years.

While I sometimes think I could have pushed harder and been more successful by now, I’m not a total failure in the old ‘adulting’ department. So here is some of my hard-won knowledge.

  1. Don’t ask, don’t get

If I could only choose one piece of advice this would be it. It’s just as useful in the bedroom as the boardroom, to be honest. Women who don’t articulate their desires are far less likely to have them met.

I used to just get given a payrise or promotion and be like ‘wow, thanks!’. Never occurred to me to ask for more – which is actually a thing you can and should do. Similarly, when you’re making a big purchase, why not ask for a discount?

So now I ask, no matter how uncomfortable it makes me feel (i.e. a lot). Maybe you get a ‘no’, but maybe you get a ‘yes’.

Whereas if you don’t ask, you’ve given yourself a ‘no’ from the outset.

  1. It’s not about having time, it’s about having priorities

People ask me how I have time to do all this food prep and go to the gym five days a week, and all the other stuff that means I can wear sequin hot pants at age 40. I make time because it’s a priority.

I have no kids or husband to deal with, so I actually have plenty of time.

If you do have kids or a crazy job, and can’t make time for that stuff, then that’s cool too. Your priorities are different. It’s not wrong, you’re not lazy, it’s just a fact of modern life.

Money helps in this situation. If buying pre-packaged meals helps you hit your calorie target, then do it. If getting a personal trainer means you optimise your time in the gym, then invest. If you can pay a cleaner and steal back two hours of your life, then why not?

Sure, we should be responsible with our money, but we should also be realistic. We all have competing priorities – the key is to work out the order they go in, and build a life around that, with no judgement and minimal guilt trips.

  1. Choose a leader, not a job

I’ve been so lucky in my career, working for talented people who taught me a lot. My first boss taught me everything I know about PR, even if she shouted at me now and then. My editorial director in a London book company was inspiring even if she described me as ‘bossy and opinionated’ (in an affectionate way). This week I attended a retirement dinner for the man who told me I was a shit writer, then turned me into a good one. And my current boss has taught me that ‘no’ is just the start of a negotiation.

However, the thing they have in common is that they weren’t just managers, they were leaders whose values I was aligned with.

So the point I’d make is this. When you’re planning your next career move, look for a leader you’d follow into a fire. It’s not always about the company brand, or the title you’ll get, or even the money. Find yourself a boss you like, who sees you as a person, not just a resource – and you’ll go further at work.

  1. Be your own cheerleader

It’s great to have someone who spots your talent and rewards you accordingly. But people are busy and focused on their own stuff. Simply doing a great job isn’t enough to help you climb the ladder.

You need to make your case and highlight your good work. I know, that sounds awkward AF.

Drawing attention to your wins, describing yourself positively, pushing your case in a performance review: they all sound about as comfortable as a strapless bra that’s a size too small.

This week I had to write an announcement about myself for my boss to send to all staff. At first I was all like ‘oh I sound like a douchebag’.

And then I was like ‘oh stop it, who cares, you’re the head of PR and if you don’t PR the shit out of yourself, who will?’. So, I pretended I was writing it about someone else, and it was totally fine.

So my main point here is, cheerleading for yourself is not a natural or comfortable thing for most women – but do it anyway, like Rihanna putting her own damn crown on.

How to hack your goals and nail everything in 2019

In 2018, I leaned out and toned up, losing about 5kg ahead of my 40th birthday.

People asked me how I did it, and I’d detect a hopeful tone. What wonderful secret had I found?

Sadly, there are none. I tracked and weighed all my food, stopped boozing and trained for fat loss (i.e. so many reps).

Probably the biggest thing was setting a goal. I’d been powerlifting for a few years, and building strength was always the main game – my goals were more like ‘squat 100kg’.

I was more focused on what my body could do, rather than what it looked like. This year, I switched to an aesthetic goal.

Neither of these goals are good or bad, in my opinion. There is something empowering about reaching a lifting goal, but also in feeling lean, fit and attractive.

The key point is, they provide something to work towards. They were specific, measurable and kept me focused. They kept me home on a Friday night, so my coach wouldn’t kill me on a Saturday morning. They encouraged me to spend time on a Sunday night preparing food for the week. They gave me a reason to say no to high-calorie foods.

New year, new you?

I’m telling you this because it’s a new year, and we all have good intentions. Often it’s about weight loss, but it’s a good time to take stock of finances too.

If I’m honest, my 2018 wasn’t great financially speaking. I was trying to get in the groove of being a homeowner, and quarterly strata fees, coupled with a kitchen renovation, really challenged me.

I had all the basics covered and I saved money, but I could have done a lot better, especially if I’m meant to be a good Fierce Girl example.

Know your weakness, then kick its butt

My biggest weakness isn’t a lack of knowledge or a tendency to spend money on stuff. It’s my lack of organisation. I try, I really do, but it’s a constant struggle against my nature.

You know those people who hate mornings, and you try to make them get up early? They’ll do it, but it takes fives snoozes and the threat of unemployment. And when they do wake, they are cranky arseholes.

That’s how I am with any type of life admin. And it’s why I have a shameful stack of papers in my cupboard, full of tasks that I need to file or action. I just add one more thing and shut the door again.

I know that I’m shit at this, and that I need a way to hack my bad habits. So I’m taking my approach to training and diet – which I’m good at – and applying it to money.

Boiled down, my weight loss success was based on:

  1. Set a goal – fit into the very skimpy outfit I purchased for my party
  2. Track everything – all food, every workout
  3. Rely on habit – regular food prep becomes a non-negotiable activity

Applying this to money, I’ve realised I need to:

  1. Set a goal – I’m going to pay an extra $20,000 off my mortgage in 2019
  2. Track everything – yep, I have to manually enter it into the TrackMySpend app
  3. Rely on habit – once a week I have to sort that pile of admin out and do at least one task

That third one really gives me anxiety, because I know I will struggle with it. But I need to start somewhere if I am going be a fully functioning adult.

The missing piece here is reward. At the gym, I get rewarded with endorphins, and I get validation when people compliment me. So it helps me to stick with it.

But this plan is boring and low on quick wins. So I’m adding in a bonus that if I stay on track with saving, I get to have a trip overseas. And if I do my weekly chore torture, I’m allowed to give myself a monthly treat, up to the value of $50.

There will be other behavioural modifications I need to achieve these goals – for example, the point of tracking is to ensure I spend less on crap (I’m looking at you Priceline and Sephora).

But I feel more prepared and confident knowing I have a plan and a framework.

Setting Goals

If you’re keen to nail your finances in 2019, have a think about what you want to achieve. I have a post about goal setting here, and it includes a simple worksheet you can download.

The goals don’t have to be big and hard. They could be as simple as ‘save $200 a month’. Or they can be specific – ‘Pay for my end of year holiday without a credit card’.

The point is to have them. Without something to work towards, we humans tend to drift into whatever’s easy and in front of us.

But with a goal, you can have a plan. And with a plan, you can have global domination (eventually).

So, here’s to an amazing 2019, and I hope you get all the good stuff you deserve!

Blog at WordPress.com.

Up ↑