Women's Essential: Gaining Financial Literacy with Tilly Money
Photo Courtesy: Tilly Money
Women face unique challenges and different cultural pressures. Yet, today's women are more independent and more assertive. We, at 9-Neko, acknowledges these strengths the modern women possess.
Women are always pressured to look attractive in physique and fashion. With the rise of social media influencers coupled with our heavy online presence, we tend to follow the trend, especially shopping. Girls often buy items that they don't intend to purchase. In fact, a study has stated how our online presence and influencers can trigger impulsive buying.
But mind you, women also have good financial management skills and could even thrive more had she has knowledge in investment. With the current pandemic, being wise with our finances is crucial. At 9-Neko, together with our founder (who is also in the financial industry), is passionate about helping women be more financially wise and rational consumers.
Using podcasts, newsletters, and blogs of successful women who share the same passion is a great starting point for other women to find their financial success. Using these available means can help protect hard-earned money from inflation and low-interest rates. And with this, we are happy to share a financial platform called Tilly Money.
Photo Courtesy: Tilly Money, 5 changes to become richer and smarter
Meet Tilly Money and the Woman Behind
Tilly Money or Tilly is a group of intelligent and talented women of diverse backgrounds from politics, finance, the beauty industry, and journalism who share their passion for financial management and leadership. It is led by Mauren Jordan, the CEO of Switzer Financial Group and a lawyer, economist, publisher, and a respected businesswoman.
Tilly is a platform geared towards helping women who want to gain financial literacy and find their own financial success. If you've long been wanting to understand the world of money, Tilly offers weekly newsletters, podcasts, e-courses, virtual lessons, and events. They feature successful women of their respected field and learn about their successful money stories.
Tilly's first podcast episode features the CEO Maureen Jordan. She shared lessons learned as she goes along to where she is now. Growing up, she learned about money from her mom, who she saw managing the family's budget. She talked about how her parents managed to buy their house and paid every single fee religiously, which greatly impacted her financial success.
When asked what prompted her to start Tilly, she said that it's a given that women are disadvantaged and the financial world is mainly male-dominated. Although she didn't experience discrimination all that much, Maureen Jordan saw different types of discrimination against women as she gets older and was moved by this.
Photo Courtesy: Tilly Money, The Gender Pay Gap, Where do we stand?
Additionally, her father also played a significant role in imprinting on her a belief that she was good as any man.
Photo Courtesy: Tilly Money, Emma Kirk on Financial Cardio
Spend Less or Earn More
Meanwhile, on the second podcast episode of Tilly Money, Maureen and her co-host Claire Osman, a content producer, invited Emma Kirk, a Key Account Manager for Magellan Financial Group and a well-known face in Australian finance.
At a young age, Emma Kirk learns about the basics and importance of budgeting and investments from her parents, who worked as financial planners. She shares how she likes to think about investing as a bit like health and fitness. There are two things you can do in health and fitness: to lost weight and get fit. You can eat less and move more, she says further. And investing is exactly the same. "There are only two levers you have available to you —you can either spend less or earn more, Kirk says."
Moreover, the notion about spending less comes back to budgeting. Kirk further explains about budgeting through bucketing. She shares the three buckets for her budgeting: Firstly, her bucket for fixed-cost essentials such as a mortgage, school, fees, car payment, etc.). The next is the bucket for variable expenses such as groceries, gas, etc. She adds that you can choose how much you can spend on them, like changing the good's brands or adjusting the cost. And lastly, for discretionary which are up to her of what she spends like luxuries.
On the other hand, she explains further about earning more means having an initial amount or savings that you can invest. So, when it comes to investing, Kirk also reveals that you've got five road categories of asset classes, which are: cash, fixed income, equity, real/estate or properties, and commodities. Although this might not be your first-time hearing about asset classes. But for the benefit of those who have no investment background, the following are based on her explanation.
Cash represents your buying power from a savings account, hard cash, online wallets, etc. Fixed income is basically the money you lend to someone else. In return, you receive an interest in fixed instalments over some time. Next up, equity can be stocks you buy from a company and then you are given a share of their profit. Companies pay you with dividends. We also have the property that includes ownership of commercials, flats, apartments, and commodities, referring to ownership of goods.
With just listening to twenty minutes of the podcast, you'll get a crash course of budgeting and investing. With this comes our recommendation that you start learning financial literacy through listening to Tilly podcasts.
Photo Courtesy: Tilly Money, 5 money rituals to adopt
Bolster Your Financial Literacy Through Reading
Apart from that, we are also endorsing few recommended reads from Tilly's blog. We like the 5 money rituals to adopt, which talks about building rituals and mantras as self-empowerment tools that you can implement daily to stay focused on your money goals.
Suppose you feel the need to talk about your finances with your partner or spouse and don't want to get misunderstood. In that case, we recommend reading the article entitled: talk to your partner about money to get ideas on how you can get the money matters sorted out with your partner.
We also include a budget guide from Tilly Money to help you plan your daily finances.
Photo Courtesy: Tilly Money, Making Money on Marketplace
Style on Budget
We have initially talked about the pressures of always looking physically attractive that may lead to impulsive buys. If you want to know useful tips for staying stylish on a budget, we will also feature that in the next article. So, stay tuned!
We hope that this article has helped you and sparked a vast amount of inspiration. We encourage you to be the wise, independent, influential, and confident woman you already are.