Michelle Redfern sits down with Lizzy Goldfinch to explore the crucial intersection of money, leadership, and women’s potential. Lizzy shares her professional expertise and personal experiences to illuminate how financial literacy and independence are foundational for closing the leadership gender gap. The conversation focuses on breaking down harmful money myths, embracing financial empowerment, and taking actionable steps to build wealth and create choices.
Whether you’re navigating your career, seeking financial freedom, or dreaming of a larger impact in your community, this episode will inspire you to take control of your financial future.
Episode Highlights
The “3 Ds” of Financial Vulnerability:
• Death, Divorce, and Domestic Violence often leave women in precarious financial positions.
• Women aged 55+ are the fastest-growing demographic of homeless people in Australia, emphasizing the need for financial independence.
Why Money Matters:
• Financial resources give women the power of choice and freedom, enabling them to escape abusive situations or transition careers without fear.
• By 2034, women are projected to control 65% of Australia’s wealth, making financial literacy more crucial than ever.
Reframing Harmful Money Mindsets:
• Common limiting beliefs:
• “I’m not good with money.”
• “Money is vulgar or shameful to talk about.”
• Empowering reframes:
• “I’m learning to get better with money.”
• “I love money and the choices it brings.”
Investing in Yourself:
• Warren Buffett’s advice: The best investment you can make is in yourself.
• Tips for self-investment: podcasts, networking, online courses, and continuous learning.
The Power of Choice Through Money:
• Financial independence allows women to:
• Volunteer and engage in meaningful causes.
• Leave unsupportive workplaces or unhealthy relationships.
Practical Tips to Build Wealth:
• Create a “Runaway Fund” for emergencies or unexpected life transitions.
• Start small with consistent saving and investing—compounding interest is a game changer.
• Keep a record of your accomplishments to ensure fair remuneration at work.
Leadership Call to Action
1. Examine Your Money Mindset:
Identify any limiting beliefs you have about money. Write them down and consciously work to reframe them into empowering affirmations.
2. Start Building Wealth Today:
Open a savings account and set up an automated transfer—even $5 per paycheck can snowball over time.
3. Prepare for Your Next Salary Negotiation:
Document your accomplishments and contributions to the business. Set a target remuneration goal and plan your negotiation strategy now.
4. Get Educated:
Listen to podcasts like She’s on the Money, read books like The Barefoot Investor by Scott Pape, or follow Lizzie Goldfinch for actionable financial insights.
5. Support Your Community:
Use your financial resources or time to give back in meaningful ways—whether by mentoring, volunteering, or donating to causes you care about.
Connect with Lizzy Goldfinch:
Resources Mentioned in the Episode:
• The Barefoot Investor by Scott Pape
• The Millionaire Next Door by Thomas J. Stanley and William D. Danko
• PepTalkHer App by Meggie Palmer
• The Snowball - Warren Buffet
Make sure to subscribe to Lead to Soar on your favourite podcast platform and share this episode with women in your network who are ready to take control of their financial futures.
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