Updated: Apr 20, 2020
In this weeks Money Moment we speak to The Pledgettes. The Pledgettes are a community for womxn to talk about money. They also offer a peer supported online network and hold expert led events. Check out their purpose and what they’re doing to help abolish the gender wealth gap here.
What does financial freedom mean to you?
Financial Freedom means making decisions without finances as the main factor. It gives you more choice for your spending and investments to fully align to your values and vision.
What is the piece of money advice you wish you knew 2 years ago?
Build your A-Team. Find those people for a long-term relationship to help you achieve your financial goals. Your A-Team may include a Financial Planner, Lender, Realtor, Banker, Tax Professional, Coach. Build the relationships now so when you are ready to make big money moves; you know who to call.
What’s the biggest money challenge/issue or learning you currently face?
It's a constant effort to grow a business realistically with an abundant mindset. When you are not profitable, it can be harder to take risks and make investments but those risks and investments may help you grow your business. Spend wisely, invest wisely, and keep checking in with yourself, advisors, and partners.
What’s your first money memory?
For my 5th birthday, one of my grandparents gave me $5. My mom took me to the grocery store to let me spend my gift. It was the first time I looked at the price tags at the store. After much deliberation, I picked out a Rainbow Brite stamp for $2. Then my mom took me to the bank to deposit the rest.
What money habits did your parents practice? How did you feel about those habits?
My parents have a healthy money mindset. They made the most of what they had, took risks, had side hustles, and talked to us about money. They taught us great lessons and the value of a $1. I'm grateful for my parents' example and for my "involved" family group text that openly talks money.
What drives your financial decision?
I'm currently updating my financial vision statement. It has definitely evolved since getting married and leaving full-time employment. I'll use my financial vision as a direction for my decisions. Then many conversations with my husband. And we make big decision together and smaller decisions on our own.
What area of money management do you wish you knew more about?
Impact Investing. I'm excited our February webinar is about Impact Investing and Spending. I want to use my money in ways that align to my values. Shop at quality companies, invest in world changing business.
What is your favourite money tip?
Money is choice. If you have a $1 you get to spend it, invest it, save it, donate it, burn it - it's your choice. Choice shows up in all my spending and investing decisions. Do I want this kitchen gadget or do I want to use the gadget I already have and have $20 to spend/invest differently?