Category

Women and Wealth

Myth: Women are not interested in finances.

By | Financial Psychology, Podcasts, Women and Wealth | No Comments

Kathleen Peace, Partner and Financial Consultant, Woodgate Financial

Join Kathleen and her guest Kathleen Peace as they bust this myth wide open and show you how women are just as savvy and interested in finances as men. Find out how even women who are labeled as “gold diggers” are demonstrating their interest in money and wealth, and discover tips for challenging your thinking when it comes to this fallacy.

Key Take Aways

  • Women investors and traders actually perform better than their male counterparts due to their calm, and more methodical approach to managing and investing money.
  • Listeners should ask the women in their lives (wives, mothers, sisters or daughters) if they are interested in finance. If these women say no, then find out why not. For those who truly are disinterested, use this underlying cause as a pathway into making financial conversations more relevant to their lives and give them a positive experience of talking about money.
  • To find out more about where your money is going, track the inflows and outflows of cash in your life. Seeing where the money flows is a great place to start examining if you are using your resources in a way that is congruent with your values and goals.

Bio:

Kathleen Peace, Partner and Financial Consultant, Woodgate Financial, has more than two decades of experience in the financial industry and has dedicated her career to being an ally and resource for female entrepreneurs.

After spending the first half of her working life on Bay and Wall Streets, she returned to Toronto to start a family and spend more of her professional life directly helping people. Now she combines her financial prowess and love for building community by acting as a personal CFO and champion to a group of driven, successful women.

Her specialties include corporate reorganization, planning for and effectively managing liquidity events, socially responsible investing, financial issues of divorce and estate planning.

 

Myth: Men should manage the money.

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Stacy Francis, CFP®, CDFA®, CES™, Francis Financial 

The myth that men should manage the money is one that many women succumb to when they get married. This includes women who for years managed their own money during college and at the beginning of a career. However, approximately 80% of women will end up having to manage their money without a partner at some point in their life due to divorce or the death of a spouse. Stacy and Kathleen investigate this myth and how it can severely disadvantage women throughout their lives.

Take Aways:

  1. The upside. There is an upside to men always managing the money. In the short run, some women who are intimidated by finances or who don’t feel they have the time to devote to money management get relief from this responsibility. Eventually, the upside diminishes and can create a real problem for women after a divorce, or the death of their partner. 
  1. Try a money date. A great way to get more comfortable with money is to have a date night to talk about finances in a non-threatening and engaging way. Listen and learn how Stacy and her husband have gotten creative with their money dates so everyone gets their needs met. 
  1. Use apps. It is important for each person to fully understand where the money is going. Using finance tools like Mint.com is a great way to integrate spending with education about where your money is going. It is an easy online system that connects with your bank accounts, tracks your spending, and even categorizes them for you. 

Bio:

Stacy Francis, CFP®, CDFA®, CES™ 

Stacy is the President and CEO of Francis Financial, which she founded 15 years ago. She is a Certified Financial Planner® (CFP®), Certified Divorce Financial Analyst® (CDFA®) and a Certified Estate and Trust Specialist (CES™). She is also the founder of Savvy Ladies™, a nonprofit that has provided free personal finance education and resources to over 15,000 women. 

Stacy has received numerous awards including Investment News Top 20 Women to Watch in the United States, Financial Planning Association’s Heart of Financial Planning Award and Financial Planning Magazine’s Pro Bono Award. She was also listed as a National Money Hero by CNN Money Magazine and received the Women’s Choice Award for one of the best financial advisors for women. 

She is a nationally-recognized financial expert as an active member of CNBC’s Digital Financial Advisor Council, the Forbes Finance Council, as well as an expert contributor for The Wall Street Journal. She has appeared in over 100 media outlets including CNBC, CNN, Good Morning America, Investment News, Money Magazine, NBC, The New York Times, and USA Today. 

Special Offer:

Stacy recently released her own podcast. Every other Tuesday, tune in to Financially Ever After with Stacy Francis. Download Unveiling the Unspoken Truth, The Financial Challenges Women Face During and After Divorce.

Myth: I don’t need to worry about money, some day my prince will come.

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Barbara Stanny, Author Prince Charming Isn’t Coming

Women can have a love/hate relationship with money. Even in today’s society, some women feel they are not going to be attractive to a mate if they are financially put together. Barbara Stanny and Kathleen delve into the notion that women are still waiting for Prince Charming to rescue them financially instead of empowering themselves to learn about investments and money management. Listen in as they discuss the importance of busting this myth wide open so that women of all ages can be more financially intelligent and set a good example for the next generation.

Take Aways:

Barbara explains that getting smart about money involves a three-pronged process – the outer work (education), the inner work (money mindsets), and the higher work (your life purpose).

You need to take small steps consistently and you will see remarkable results.

Money doesn’t come from what you earn, it comes from what you do with what you earn. (Click to Tweet)]

 Barbara Stanny is the best-selling author of Prince Charming Isn’t Coming, Secrets of Six-Figure Women, and Overcoming Underearning®.  She has been teaching women how to take charge of their money and take charge of their lives for 20 plus years. An experienced mentor, wealth coach, and sought-after speaker, Barbara can help you create the wealth you desire and the life you deserve. 

Special Offer:

Free e-book “So You’ve Made Good Money…Now What?

A Man is a Plan.

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Paula Harris, Co-Founder, WH Cornerstone Investments

A man is a plan is a myth many women, unfortunately, use to avoid dealing with their finances. In this podcast, listen to Kathleen interview Paula about how to break this myth down so you can start to make simple decisions every day to reach financial security.

Listen in and discover:

  • Why it is important to take care of yourself financially and not wait until you are married to let your partner do it for you.
  • How to practice the “set it and forget” method of saving.
  • Ways to set realistic financial goals.
  • Why delaying gratification today is part of any sound financial plan.
  • How a certified financial planner can help.

WH Cornerstone’s co-founder, Paula Harris is part financial therapist and part dream architect. She takes great pride in helping her clients, particularly women, obtain financial peace of mind and independence. In addition to her role as co-founder, Paula is very actively involved in the community. In the past, she has served on several boards including serving as the Past President of the Plymouth Philharmonic Orchestra and the 2012 Chairman of the Board for the South Shore Chamber of Commerce. She currently is an advisory board member of empowerHER.

Paula is a graduate of Providence College and now lives in Plymouth, MA and the Berkshires with her husband and co-founder, Bill Harris.

To sign up for the Breaking Money Silence Podcast, click here.

Myth: It is okay to ignore your finances.

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Anne Dickinson, Eye on Your Business

When business owners buy into the myth that it is okay to ignore your finances, their bottom line probably suffers. In this episode, Kathleen interviews Anne about how not knowing “your numbers” negatively affects your business and how more female business owners than men may suffer from this myth.

Listen and learn:

  1. Why financial knowledge is power, and how learning more about your business finances boosts confidence.
  2. How to take one small step at a time to get organized and how working with a bookkeeper can help.
  3. What it takes to be more financially savvy and how taking action reduces your stress and improves your decision-making.

Special Offer for Breaking Money Silence Podcast Listeners: 

FREE Webinar, 5 Ways to Keep More of the Money You Make on June 14, 2017, at 3:00 p.m. Eastern. Click here to learn more.

Million Dollar Message Retreat, May 26 – 28, 2017, Toronto

Anne Dickinson is the cash flow and profits optimizer. She uses her profit leaks x-ray vision to help overwhelmed business leaders take back control of their business finances, stop money from falling through the cracks, and make moves that result in more money, more time, and more freedom.

Creator of the Stop the Profit L.E.A.K.S. Formula™, Anne isn’t afraid to get her hands dirty as she works side-by-side with business leaders to identify and eliminate money leaks, ignite profits and improve cash flow and liquidity to create a strong, healthy business.

Anne has an MBA from Babson College, worked in the Defense and High Tech industries, packaged and sold assets, dissected and improved operations, set up Treasury departments, and owned successful entrepreneurial ventures.

Myth: I don’t need to save for retirement because I have Social Security.

By | Couples and Money, Podcasts, Women and Wealth | No Comments

Michelle McKinnon, Financial Advisor, Payne Capital Management

Michelle discusses how through her relationships with her clients she has discovered how many people buy into the myth that Social Security will provide for them in retirement.  In this podcast, she warns listeners about how Social Security can lead you into a false sense of security and how important it is to be proactive about retirement savings.  Listen in and learn how to start tracking your expenses and realistically planning for the future.

Michelle McKinnon is a financial advisor with Payne Capital Management (PCM) and host a weekly podcast called $mart Women.  Michelle is committed to helping women manage their finances with ease.  To learn more visit her website at http://paynecm.com/ or listen to her podcast at $mart Women.

Myth: Women Entrepreneurs aren’t interested in growing their business.

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Sherri Munro, Munro Consulting Services, Inc.

Women business owners are diverse as they don’t all think, act, and plan the same way. The majority do want to grow their businesses, but what motivates them to do so can be different than what motivates their male counterparts. Listen to today’s episode as Kathleen and Sherri talk about women entrepreneurs, how they view risk and business growth differently, and discover tips for more successfully working with this segment of clients. Hint: Start by letting go of this myth!

After working for more than 20 years at a major Canadian bank, primarily in Commercial Banking, Sherri Munro founded Munro Consulting Services, (http:www.munroeconsulting.ca), specializing in working with women entrepreneurs. She helps these clients feel more prepared, knowledgeable, and confident to grow their businesses. Through one-on-one coaching,skill-building sessions, and comprehensive discussions about their business, finances, and market, Sherri collaborates with established business owners to formulate the right approach to raise capital for their businesses, and to have deep and meaningful conversations and relationships with their Business Bankers. For more information, follow Sherri on Twitter @MunroC3 or e-mail her directly at sherri@munroconsulting.ca.

Myth: Selling is Undignified

By | Financial Psychology, Podcasts, Women and Wealth | No Comments

Eleanor Beaton, Founder of Fierce Feminine Leadership


Join Kathleen and Eleanor for an enlightening conversation as they explore this myth.  Eleanor discusses how most women entrepreneurs fall into this false belief and fail to invest enough time into the marketing and sales part of their businesses. Listen and discover how to defy this way of thinking and start clearly asking or the sale.

Eleanor Beaton is the founder of Fierce Feminine Leadership. She is an award-winning journalist, speaker and women’s leadership coach. Eleanor helps emerging and established women leaders step into their power, dial up their influencing skills and take their seats at the tables where the big decisions get made. For more information, visit www.eleanorbeaton.com

Special Breaking Money SilenceTM Offer: Take Eleanor’s Fierce Feminine Leadership Assessment at no cost and discover YOUR fierce feminine leadership style.