It’s Not About The Money (Australia)

How (and what) we teach kids about money can make a big difference in setting them up for financial decision making later in life.

In this episode, guest Lacey Filipich discusses the importance of teaching kids about money and the inspiration behind her Maker Kids Club program, the importance of teaching kids about saving and the benefits of experiential learning. Lacey provides tips for adults on how to help kids build good money decision-making skills, including talking about money, allowing them to make mistakes, and providing tangible experiences with money.

About Lacey:

Lacey Filipich helps people become financially independent and reclaim their lives. Thousands around the world have used her ⁠Money School⁠ courses to liberate themselves from debt, start saving and raise financially capable kids.

Money School is also the title of ⁠her international award-winning book, out now with Penguin Life.⁠

Lacey graduated as valedictorian from the University of Queensland with an Honours degree in Chemical Engineering (if you want to find out how a chemical engineer ends up teaching people about money, ⁠check out her TEDx talk.)⁠ She is the winner of a 2019 Business News '40 under 40’ Award and a LinkedIn Top Voice in Finance.

Takeaways

• Experiential learning, such as starting a business, can teach kids valuable lessons about money.

Sound Bites

"If I can teach them to save, the rest can come later"

"It's got to be done everywhere."

"Closing the gender pay gap is not simply about the money, but about addressing underlying gender stereotypes."

"We have to have systems in place to avoid biases and take responsibility when we find them."

Keywords

money education, financial literacy, teaching kids about money, entrepreneurship, saving, experiential learning, money decision-making skills, gender pay gap, biases, stereotypes, financial inequality, education, workplaces, families

Did you know there is a growing political ideological divide between Generation Z men and women?

In this bonus episode of It's Not About The Money (Australia), Dr Rachel Hogg discusses some of the underlying causes, the potential implications for our society, and approaches to address this issue.

About Rachel

Dr Rachel Hogg is a psychology academic whose work focuses on human-animal interaction, social psychology, gender and feminism, mental health, and the psychology of work. Her PhD research examined horse-rider relationships in elite equestrian sport. She now conducts research on animal-assisted therapy, sustainability in farming, Aboriginal and Torres Strait Islander experiences of mental health services, neurodiversity, social media, and the gendering of mental health diagnoses and systems.

Rachel has contributed to academic and media discourses around wellness culture, sex education and consent, and domestic violence reforms, and is regularly sought after as a researcher and public commentator. Rachel grew up on a wheat and sheep farm in south-eastern Australia and this upbringing has infused her work, alongside her engagement with literary and performing arts.

Rachel delivered a presentation on 'Disordering distress: Women’s experiences of domestic violence, self-empowerment, and psychology' as part of the TEDxWaggaWagga event in 2023 

Join the conversation as Grace Mugabe, CPA, an award-winning financial literacy educator, money coach, and accountant, shares her work with Financially Empowered to dismantle the financial knowledge gap as well as support CALD women in business, and discusses the importance of genuine inclusion in financial services (and our communities).

About Grace

Grace Mugabe (CPA GAICD) is an award-winning Financial Literacy Educator, Money Coach and Accountant with a dash of personality and sass

Her organisation, Financially Empowered, specialises in dismantling the financial knowledge gap, particularly impacting marginalised women. Through interactive, transformative workshops, programs and tools, she equips women in business to build financial confidence, boost their earning potential and secure their future.

In 2015, Grace pivoted from her finance role in an industry-leading multinational corporation to redirect her expertise to financial literacy education. Since then, she developed the award-winning Migrant Money Matters program and partnered with local governments, schools, community organisations, and the private sector to deliver impactful financial education programs.

A passionate advocate for community impact, Grace leverages her financial expertise to by serving on various boards, and works with CaLD women in business.

Takeaways

• There is a lack of research and measurement regarding the financial inequality experienced by migrant and CALD women.

Keywords

financial inequality, migrant women, CALD women, financial education, diversity and inclusion, boardrooms, advocacy, mentorship, allyship, Migrant Money Matters program, financial empowerment, inclusive financial experiences, social identities, cultural diversity

Disclaimer

It's Not About The Money provides factual information only and is not intended to be financial advice, legal advice or tax advice, and should not be relied upon as such. The information is general in nature and may omit detail that could be significant to your particular circumstances. The information is provided in good faith and derived from sources believed to be accurate and current at the date of publication. While all care has been taken to ensure the information is correct at the time of publishing, legislation can change from time to time and we are not liable for any loss arising from reliance on this information, including reliance on information that is no longer current.  We recommend that you seek appropriate professional advice before making any financial decisions.

Did you know that fewer than 25% of financial advisers in Australia are women? This conversation with financial adviser Trish Gregory explores the challenges and opportunities in the financial advice industry, particularly for women both as professionals and clients.

It highlights the need for good financial advice and the barriers that make it seem out of reach for many people. The conversation also touches on the importance of finding the right financial adviser and the value of personalised advice, the lack of diversity in the industry, the need for systemic change to make it better, and why women need to be included in policy and product development to ensure their financial security.

About Trish

Trish is a CFP® certified millennial financial adviser with more than 7 years of formal experience, a Masters Degree, three school-aged children and a military veteran partner. With an abundance of life experience prior to commencing her financial planning career, Trish intimately understands the challenges the younger generation face which can thwart their financial goals. Having previously worked in a more ‘traditional’ advice role supporting pre-retirees and retirees as well as clients holding a Defined Benefit pension, she now spends her days in the weeds of budgets, projections, goal planning and trade-off conversations with Millennials and Gen Z.  

Trish is a strong believer in supporting women to enter and grow in the financial planning profession and knows that systemic change is needed before we’ll reach gender parity. 

Takeaways

• Getting good financial advice can make a big difference throughout our lives and especially in retirement.

Disclaimer

It's Not About The Money provides factual information only and is not intended to be financial advice, legal advice or tax advice, and should not be relied upon as such. The information is general in nature and may omit detail that could be significant to your particular circumstances. The information is provided in good faith and derived from sources believed to be accurate and current at the date of publication. While all care has been taken to ensure the information is correct at the time of publishing, legislation can change from time to time and we are not liable for any loss arising from reliance on this information, including reliance on information that is no longer current.  We recommend that you seek appropriate professional advice before making any financial decisions.

Have you ever told yourself that you're not good with the money stuff because you're not good with numbers? There's a very common stereotype that women aren't great at maths, yet research tells us that's not true, and we're are often better at numbers than society gives us credit for. But in a twist, you don't necessarily have to be good at maths to be great with money.

In this episode of "It's Not About the Money," we explore the fascinating dynamics of gender stereotypes, maths and money with guest, Peita Diamantides.

About Peita

Peita Diamantidis is a new form of ‘geek’ hybrid - maths and finance nerdiness combined with a passion for communication that has her on a mission to empower the public to take charge of their finances.

With over 20 years in the financial services industry, and the last 15 as a practising financial adviser, Peita has worked with international conglomerates right through to young couples looking to buy their first home. No matter the size of the financial transaction, she has been most valued for her ability to take complex financial situations and break them down to their fundamentals. This culminated in the release of her first book, 'Finance Action Hero, Book 1: Basic Training' in May 2014, followed by 'Finance Action Hero, Part 2: Mission Possible' in September 2016.

Utilising a background in Actuarial Studies (financial mathematicians that make accountants look hip and groovy), Peita has developed a keen interest in the science of Applied Innovation - the adoption of innovative business and service models, the development of innovative products and technologies, and the engagement of the public in more innovative ways.

The combination of her passion for communicating and her interest in applied innovation has led her on a never-ending journey to find ideas, widgets, and newfangled ways of bringing the financial advice industry and the Australian public closer together. With a quirky sense of humour and a deep and abiding love of movies, Peita is in the unique position of being able to use humour and storytelling to empower her fellow Gen Xers, helping them rediscover their fierce zest for life - It's not just about managing finances; it's about mastering them to fuel our forgotten dreams and adventures.

Peita can be found in the wild empowering future explorers as an adviser and coach, along with presenting to corporate teams on how to confidently finance their future without forfeiting today’s fun.

Links: https://solo.to/peitamd

• Research shows no significant difference in the mathematical performance of men and women in more gender equal countries.

Disclaimer

It's Not About The Money provides factual information only and is not intended to be financial advice, legal advice or tax advice, and should not be relied upon as such. The information is general in nature and may omit detail that could be significant to your particular circumstances. The information is provided in good faith and derived from sources believed to be accurate and current at the date of publication. While all care has been taken to ensure the information is correct at the time of publishing, legislation can change from time to time and we are not liable for any loss arising from reliance on this information, including reliance on information that is no longer current.  We recommend that you seek appropriate professional advice before making any financial decisions.

In this episode, Dr Bronwyn Bruce joins Jenny to talk about superannuation, the relationship between retirement savings and financial wellbeing, why superannuation as it's currently designed doesn't always work as well for women, and why it is important for women of all ages to engage with their superannuation to feel more in control and to build financial security.

About Dr Bronwyn Bruce

Dr Bronwyn Bruce recently completed her PhD which centred on the consumption behaviour and financial wellbeing of Australian millennial women, with a specific focus on superannuation. She is currently working as an academic at RMIT University where she teaches and conducts research in the School of Economics, Finance and Marketing.

Takeaways

• Superannuation is about future-proofing your life and making small sacrifices today for a better future.

Keywords: superannuation, finance, financial literacy, financial capability, financial wellbeing, retirement planning, predatory lending, financial education, awareness, women, superannuation, gender super gap, systemic disadvantages, accessible financial advice, podcasts, social media, informed financial decisions, financial advice, self-efficacy.

Disclaimer: It's Not About The Money provides factual information only and is not intended to be financial advice, legal advice or tax advice, and should not be relied upon as such. The information is general in nature and may omit detail that could be significant to your particular circumstances. The information is provided in good faith and derived from sources believed to be accurate and current at the date of publication. While all care has been taken to ensure the information is correct at the time of publishing, superannuation and tax legislation can change from time to time and we are not liable for any loss arising from reliance on this information, including reliance on information that is no longer current.  We recommend that you seek appropriate professional advice before making any financial decisions.

This conversation between Jenny Rolfe-Wallace and Hannah Moreno explores the topics of advocacy and leadership in achieving gender equality.

Jenny and Hannah discuss the importance of dismantling rigid gender stereotypes, the harmful effects of patriarchy, and the need for men to speak up and be allies to achieve gender equality. They also touch on intersectionality and the importance of diversity and inclusion, and the challenges of confronting unconscious biases and the discomfort that comes with it.

Throughout this episode, Hannah highlights the significance of speaking out and advocating for change, as words can inspire action and create real impact.

About Hannah Moreno

Hannah Moreno is a leading feminist advocate and author, writing on issues related to sexual assault, domestic violence, leadership, workplace dynamics, and trauma for publications such as the AFR, The Australian, Women’s Agenda, and Stockhead.

She is also founder & Managing Director of specialist climate, tech, and finance PR agency Third Hemisphere where she has authored and placed hundreds of editorials on behalf of clients in tier-1 media. This has included ghostwriting at the Australian Financial Review, which directly resulted in one client becoming an official “AFR Columnist”.

Hannah holds a Bachelor of Commerce (USYD & Università Bocconi), a Masters of Strategic Public Relations (USYD), and a Diploma of Investor Relations (AIRA).

Note: This episode contains explicit language and discusses sexual assault and violence against women.

Some listeners may feel emotional distress or discomfort during this episode, and if you or anyone you know needs help, please reach out to services including:

• AskIzzy.org.au

Takeaways

• Advocacy and leadership are essential in achieving gender equality and dismantling rigid gender stereotypes.

Sound Bites

"Choices cannot be divorced from the circumstances or the environment in which they're made."

"We need men to speak up particularly on topics of gender equality."

"The number of times I've seen brands put out like an advertising campaign or something, and it's very, very clear that the entire team responsible for that was 100% white."

"Sitting in my discomfort and realising the discomfort I feel is nothing compared to the discomfort of people who are experiencing racism, ableism, discrimination on a daily basis."

Chapters

00:00 Introduction

06:55 Personal Journey and Unpacking Gender Stereotypes

08:41 The Impact of Patriarchy on Men

11:02 Advocacy and Leadership for Gender Equality

13:03 Vision of a Gender Equal World

17:03 Confronting Unconscious Bias and Stereotypes

19:43 Advocacy and Leadership in Social Justice Issues

23:48 The Power of Conversation and Collaboration

25:25 The Role of Men in Advocacy and Leadership

27:27 Amplifying Marginalised Voices

29:41 The Importance of Speaking Out

35:42 Learning from Mistakes and Authenticity

39:38 Creating Change and Being an Ally

40:56 Practical Tips for Advocacy and Leadership

47:24 Speaking Out and Self-Care

50:50 Supporting Each Other in Advocacy

51:34 Inspiring Women

53:27 Gender Equality as Prime Minister

55:12 Legislation and Social Change

58:26 Connecting with Hannah Moreno

Keywords: advocacy, leadership, gender equality, rigid gender stereotypes, patriarchy, intersectionality, amplifying voices, diversity, inclusion, organisations, everyday life, speaking out, advocating, change, unconscious biases, discomfort, self-care, financial security 

In this episode, Jenny Rolfe-Wallace interviews Kate McCallum about the challenges faced by midlife women in building financial security, covering topics such as gender inequality, ageism, health, and relationships.

About Kate McCallum

Kate is a professional financial adviser – and financial storyteller and expert voice in the media when it comes to money.

With more than 30 years’ financial services experience in investment, superannuation and financial advice, Kate held executive roles with leading organisations including Westpac/BT Financial Group, State Street, and Commonwealth Bank.

Kate holds post-graduate qualifications in Commerce, Applied Finance & Investment, and Financial Planning. She is also an SMSF Specialist Advisor. She was awarded AFA’s 2014 Female Excellence in Advice Award and Multiforte was a top three finalist in the AFA 2018 Practice of the Year Award.

Kate has two amazing boys (who both work in financial services) and two wonderful dogs. She is a Board member for the Central Coast Conservatorium of Music and an active member of Gosford Sailing Club. She enjoys swimming, skiing and yoga; and loves good music, fiction, film, fashion and finance.

Kate is co-author of The Joy of Money: The Australian Woman’s Guide to Financial Independence - winner of the 2020 Australian Business Book Award for Personal Finance.

Takeaways

• Midlife women face challenges in building financial security due to gender inequality, ageism, and uncertain work environments, family dynamics, changing self-identity, and the impact of menopause on work and financial planning.

Sound Bites

"The fundamental difference that I have in people's lives... I've got peace of mind and I sleep at night."

"Women are better investors... They're not chasing the latest, greatest, shiny, shiny thing."

"You do not need to understand the tin-tacks of share markets or investing or maths. What you need to do is make sure that you're comfortable with your own position."

"Take it slowly, be patient, get very good advice along the way."

"Defaulting to wanting to keep the family home... check that that's the right decision."

"Know what your balance sheet is. So as I said before, that's your assets and liabilities, or in very simple terms, what you own and what you owe."

Chapters

00:00 Introduction and Background

05:47 The Role of a Financial Adviser

09:04 Writing 'The Joy of Money'

11:15 Women as Investors

15:37 Challenges Facing Midlife Women

22:59 Impact of Relationship Breakdowns

27:35 Tips for Younger Women

28:04 Minimising Risk and Moving Forward

28:12 Taking a Financial Stocktake

30:50 Utilising Tax-Effective Strategies

31:10 Importance of Savings

31:33 Knowing Your Retirement Lifestyle

33:33 Challenges of Home Ownership and Alternatives

41:30 Shifting the Conversation on Care

50:41 Recommended Resources: Podcasts and Books

Keywords

midlife women, financial security, gender inequality, ageism, uncertain work environments, financial literacy, financial adviser, storytelling, 'The Joy of Money', challenges, menopause, relationship breakdown, divorce, financial advice, family home, financial stocktake, cash flow, conversations about money, savings, tax-effective strategies, retirement goals, affordable childcare, shared housing, women's inspirations, leadership, decision-making, resources for financial education

Julia Newbould is a freelance writer, speaker and thinker. She was recently managing editor at Conexus Financial curating content for events for superannuation chief investment officers, and financial advisers and licensees. Prior to that she was managing editor of Money magazine.

In 2020 she published her first book The Joy of Money, co-authored with financial adviser Kate McCallum. The Joy of Money won the Best Personal Finance and Investment book at the Australian Business Book Awards in 2020. It was also a runner up in the Health and Wellbeing category. Julia has more than 20 years’ finance journalism experience and was previously editor of Financial Planning and Super Review magazines at Reed Business Information; managing editor at InvestorInfo and managing editor at Morningstar Australia.

Her passions lay between helping women gain greater equality in all areas of life and supporting financial literacy in all areas of society.

Julia’s role prior to Money was at BT Financial Group in marketing and communications where she founded the Stella Network, a network group for women in financial advice.

• Demystifying financial jargon is crucial for promoting financial literacy and understanding.

• "For me, being a communications person, it's always about getting the message across simply and cutting out the jargon where possible and usually that's everywhere."

Chapters 

00:00 Introduction and Background

04:56 Challenges and Changes in Financial Journalism

09:52 Women in the Financial Services Industry

11:59 The Stella Network and Supporting Women

17:56 The Importance of Financial Wellbeing

20:30 Demystifying Money and Financial Education

24:51 The Joy of Money and Empowering Women

28:46 Challenges for Older Women and Retirement

37:40 Initiatives and Policies for Women's Financial Security

41:02 Key Messages and Inspirational Women

42:01 Gender Equality and Women's Financial Security

43:34 Actions Women Can Take Today

45:05 Go-To Resources for Financial Knowledge 

Keywords 

Julia Newbould, finance, gender financial equality, financial services industry, diversity, financial wellbeing, financial decisions, money, financial literacy, older women, retirement, affordable housing, income, conscious spending, superannuation

How are women meant to prioritise their own financial wellbeing when there is so much else to do (especially for everyone else)?

In this conversation, Jenny Rolfe-Wallace speaks with Dawn Thomas, a Certified Financial Planner and SMSF Specialist Adviser, about women's financial security, the importance of money conversations with children, and the challenges women face in balancing professional and personal obligations.

Dawn highlights the societal expectation for women to give their time and money for the service of others, which often leads to their own financial insecurity. She calls for a shift in cultural beliefs and the valuation of unpaid care work. She discusses the mental load that women often carry, which can hinder their ability to prioritise their own financial wellbeing.

Dawn also addresses the gender pay gap and its impact on long-term financial security, particularly in relation to superannuation.

Dawn reflects on her role as a financial adviser and the importance of financial education literacy for children and suggests practical ways to incorporate financial education into everyday life. She also highlights the inspiring work of women in the finance industry and recommends resources for women looking to improve their financial situation.

About Dawn

Dawn Thomas CFP®, SSA is a self-professed superannuation nerd, a part-time PhD Student researching the superannuation behaviour of Gen Z, and a mother of three. She launched The Wealth Designer’s Start Well program in 2023, which is designed to help young people to be empowered financially. When she is not providing financial advice, she relaxes by cooking for loved ones or playing hockey. In 2020, 2021, 2022, and 2023, as a recognition of financial literacy work and advocacy of the financial planning profession, Dawn was listed in Financial Standard’s Power 50, which recognises the most influential financial advisers in Australia. Recognising her work in lifting outcomes of women and young people, Dawn won the 2023 Industry Thought Leader of the Year Award, IFA Excellence Award 2023, 2019 Association of Financial Adviser’s (AFA) Female Excellence in Advice Award and IFA Excellence Award for Transformation of the Year 2022, and received the Great Advice Award (WA) in 2021.

Takeaways

• Systemic barriers and cultural beliefs often lead women to prioritise the needs of others at the expense of their own financial security.

Resources

⁠⁠Start Well⁠⁠ podcast

⁠Your Money Story⁠ podcast

⁠"Money School"⁠ by Lacey Filipich

⁠"Girls That Invest"⁠ by Simran Kaur

ASIC's ⁠MoneySmart⁠

ASFA's ⁠Retirement Standard⁠

ASFA's ⁠Super Balance Detective⁠

Chapters

00:00 Introduction

04:37 Re-framing a Woman's Worth

07:47 Creating Systemic Change

10:33 Unpaid Care Work and Systemic Barriers

14:05 Valuing Unpaid Work

19:08 Impact of Unpaid and Underpaid Work

23:55 Teaching Children about Money

26:22 Creating Intergenerational Change

30:38 Prioritising Financial Security

38:02 Inspiring Women in Finance

40:11 If Dawn was Prime Minister for a Day

44:12 Go-To Resources for Financial Education