In today’s episode, we’re going to be covering body, badass, and business all in one integrated topic. This is a topic that is critical to us as women and entrepreneurs who want to have an impact in this world — money. In particular, we are talking about our own personal management of money; how to start with that, how to lean into it, and why it’s one of the most critical things we will decide to take ownership of in our entire lives.
For far too long — despite us identifying as entrepreneurs and having our own businesses — far too many women are outsourcing the management of their finances to someone else in their family. So today, we’re talking about taking back and reclaiming that element of our wealth, our health, our business, and our personal empowerment.
Joining me in this conversation is my longtime friend, Jackie Porter. As a financial planner and a certified financial manager, she shares her important perspective as we delve into why managing money and leaning into the finances of our family is as much a feminist issue as it is about planning for our future; it’s a matter of self-worth and absolute importance.
[1:01] About today’s episode.
[2:35] Welcoming Jackie Porter to the podcast!
[3:23] Jackie shares about who she is, what she does in the world, and why she is so incredibly passionate.
[8:18] How our parents program our money mindset and habits, and the importance of having these conversations around money literacy.
[10:53] Why we desperately need to be having more open conversations around our finances and educating around debt management, saving for retirement, cash flow management, credit, and overall financial management.
[12:25] Understanding OPM: how to leverage and invest other people’s money.
[13:39] The financial fundamentals that women need to know about.
[22:01] Understand how you can invest, not save, to multiply your wealth!
[24:00] Why you need to stop outsourcing your security.
[26:27] Addressing financial abuse and why outsourcing your security is a fundamental issue of women’s rights.
[28:39] Jackie’s key recommendations on where women can get started with developing their financial literacy.
[36:41] Sharing a story of the impact that taking responsibility for your finances as a woman can have.
[38:21] The importance of modelling financial literacy for your children.
[39:20] Jackie’s key performance indicators!
[44:30] Where to find more about what Jackie is up to!
[45:18] Thanking Jackie for joining the podcast!
Mentioned in This Episode:
More About Jackie Porter
Jackie Porter is an award-winning CFP and financial advisor in Canada who has been in the financial industry for the past 22 years serving thousands of families, established businesses, and professionals. Her practice focuses on cash flow management and tax planning strategies for small to medium-sized businesses who need someone at the table working on their behalf. She also helps professionals who are experiencing a life change and receive a settlement or severance package. Besides financial advising, she is a featured speaker and advocate for numerous corporate, professional, and charitable organizations.
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CALL TO ACTION
Take a good look at where you’re spending your money. How much does it cost you to live for a month? Taking the time to analyze where your money is going can be incredibly helpful in taking control of your finances.
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“This is one of the issues with women; we don’t feel confident about money. Part of it is that we don’t talk about it.” — Jackie Porter
“There’s more financial stress with money than there’s ever been. So the need to have financial literacy is greater than it has ever been.” — Jackie Porter
“Understanding how you can multiply your money versus … adding or subtracting your money is one of the most powerful things women can do.” — Jackie Porter
“Rather than suddenly having to make those money decisions [and] feeling not confident, … why not embrace the money conversation?” — Jackie Porter
“We lose the equivalent of 1 million U.S. dollars over our lifetime.” — Jackie Porter
“I think what we see as wealth is very different than what wealth really looks like.” — Jackie Porter
“Be intentional about what you want to happen with your money — whether we’re talking about now or we’re talking about after you’re gone.” — Jackie Porter