The Wallet

In 2017/18, some 3.6 million British women and 2.9 million men opened a Cash ISA account. Yet, in the same tax year, more men held a Stocks and Shares ISA (1.3 million) when compared with women (1 million), according to HMRC (25 June 2020).

While women are great at saving, research suggests that we are sometimes overly cautious (or risk aware, if you will) when it comes to taking the steps needed to be more in control of our financial futures. This gender investment gap has a direct impact on women’s wealth, pensions, and overall financial wellbeing. 

Sure, women may prefer to keep their funds stashed in cash savings accounts, but why is it important to invest, and where should you start? 

My guest today is Jill Jackson, Managing Director of The Big Exchange, the pioneering investment platform that helps create a positive impact for people and the planet while making their customers' money work harder for them. Jill is a passionate advocate for democratising the investment industry, breaking down overly complicated terms and processes that have historically alienated and excluded people from the market. She hopes this will help get more people investing.

In this episode, Jill and I take a look at how investing in the stock market could help more women reach their financial goals. We also dispel some of the misconceptions around investing and how one can better understand market risk and volatility.

You can follow and connect with Jill at The Big Exchange:

• The Big Exchange: https://bigexchange.com 
• Instagram: @thebigexchange 
• Facebook: Thebigexchangecommunity
• Twitter: @thebigexchange_

You can follow Vestpod:

• Newsletter and classes: https://www.vestpod.com
• The kindle version of my book “You’Re Not Broke, You’Re Pre-Rich” is on sale for the entirety of February 2021 on Amazon UK for 99p! 
• Instagram @vestpod
• Join our Facebook group

* Please note that we are not certified, financial advisers! The articles and information made available on Vestpod and this podcast are provided for information and educational purposes only and do not constitute financial advice. You are advised to consult with an independent financial advisor for advice on your specific circumstances. Also, if you’re investing money, make sure it’s for the long term and you understand what you're investing in.*

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Money management and financial literacy are, unfortunately, not widely taught. This means that many of us have never had the opportunity to learn how to save money, how to invest or how to build wealth. 

To make matters worse, the UK’s financial literacy gap disproportionally affects black communities and women. This has a detrimental impact on the levels of income as well as long-term wealth.

My guest today is Ayesha Ofori - a passionate advocate for financially empowering women and minorities, encouraging them to embark on property investment.

Ayesha is the founder of property investment company Axion, and two powerful communities – PropElle and the Black Property Network. Having gained financial independence through building a property portfolio, her mission is to make property investing more accessible to all women. 

In this episode, Ayesha talks about her journey that saw her dabbling in property investment as a side hustle, to quitting her job and eventually pursuing her passion full time. We cover everything from getting started investing in property, to finding the best option according to your budget, as well as the pros and cons of investing in property as an asset.  

Ayesha shared some resources in this episode. All the links are below:

• Leo Crowdfunding: https://www.leocrowdfunding.com/ 

You can follow and connect with Ayesha at:

• Propelle:https://propellenetwork.com
• Black Property Network: https://blackpropertynetwork.com
• Axion Property Partners: https://axionproperty.com 
• Instagram: @ayesha.ofori & @blackpropertynetwork

You can learn more about Vestpod and subscribe to our newsletter here: https://www.vestpod.com. You can follow us on Instagram @vestpod and join our Facebook group. My book is available to purchase from Amazon and your favourite bookshop.

* Please note that we are not certified, financial advisers! The articles and information made available on Vestpod and this podcast are provided for information and educational purposes only and do not constitute financial advice. You are advised to consult with an independent financial advisor for advice on your specific circumstances. Also, if you’re investing money, make sure it’s for the long term and you understand what you're investing in.*

Hosted on Acast. See acast.com/privacy for more information.

With money habits formed by age 7, our culture and formative backgrounds undoubtedly play an important role in shaping our attitude towards money. The question is: as adults, how can we decode what we have subconsciously been taught and build a positive mindset towards managing our money?  

Joining me today is Selina Flavius, finance coach and founder of Black Girl Finance - the digital platform providing a safe space for Black women to get comfortable talking about money.

Black graduates are paid 9% less than their white counterparts. In this episode, Selina shares the long-term impacts of the ethnic pay gap, and how we can tackle it.

We also take a look at what we can do to aid our financial security during the pandemic, and why Selina believes personal finance is the missing piece in self-development. 

Selina’s book 'Black Girl Finance, Let’s Talk Money’ is out now. It’s a fantastic resource where she shares her best financial tips as well as her personal stories, goal-setting exercises and straight-talking advice. 

You can follow and connect with Selina at:

• Black Girl Finance www.blackgirlfinance.co.uk 
• Instagram: @blackgirlfinanceuk
• Twitter: @blackgrlfinanceuk
• Black Girl Finance podcast: https://podcasts.apple.com/gb/podcast/black-girl-finance/id1518416348

 Selina shared some resources in this episode. All the links are below:

• Rich Dad Poor Dad by Robert T. Kiyosaki
• Warren Buffett's letters to shareholders
• Intelligent Investor: The Definitive Book on Value Investing by Benjamin Graham
• The Money and Pensions Service: https://moneyandpensionsservice.org.uk/ 
• Step Change Debt Change: www.stepchange.org 
• Glassdoor: www.glassdoor.co.uk  
• Gender and Ethnicity pay gap reporting: www.runnymedetrust.org 
• Pay discrimination - Right to Know Petition https://fawcettsociety.eaction.org.uk/righttoknow 

You can learn more about Vestpod and subscribe to our newsletter here: https://www.vestpod.com. You can follow us on Instagram @vestpod and join our Facebook group. My book is available to purchase from Amazon and your favourite bookshop.

* Please note that we are not certified, financial advisers! The articles and information made available on Vestpod and this podcast are provided for information and educational purposes only and do not constitute financial advice. You are advised to consult with an independent financial advisor for advice on your specific circumstances.*

Hosted on Acast. See acast.com/privacy for more information.

With the topic of money becoming increasingly more mainstream, financial journalism has played a key role in opening up the conversation around money, providing engaging and easily consumable content. 

Through magazines and articles, financial journalism can break down money taboos, amplify different voices, and give consumers a platform to be heard. 

My guest today is Laura Whateley, an award-winning journalist, and author of The Sunday Times best-selling book, 'Money: a user's guide’. This is the essential guide to financially empower and educate Millennials and Gen-Z on the principles of money management, now with a new chapter added for 2021. 

In this episode, we take a look at some of the generation-defining money issues Millennials face today (housing crisis, problem debt and saving for the future), the impact social media has on our spending, and what a career in financial journalism has taught Laura about her own personal finances and relationship with money.

You can follow and connect with Laura at: 

• Twitter: @LWhateley
• Instagram: @laurawhateley
• Book: Money: A User’s Guide 

 Laura shared some great resources in this episode. All the links are below:

• Starling Bank: https://www.starlingbank.com/  
• Monzo: https://monzo.com/ 
• Coconut: https://getcoconut.com
• Money Dashboard: www.moneydashboard.com
• Yolt: www.yolt.com 

You can learn more about Vestpod and subscribe to our newsletter here: https://www.vestpod.com. You can follow us on Instagram @vestpod and join our Facebook group. My book is available to purchase from Amazon and your favourite bookshop.

* Please note that we are not certified, financial advisers! The articles and information made available on Vestpod and this podcast are provided for information and educational purposes only and do not constitute financial advice. You are advised to consult with an independent financial advisor for advice on your specific circumstances.*

Hosted on Acast. See acast.com/privacy for more information.

Adrienne Herbert is the creator and host of the inspiring podcast, Power Hour, encouraging listeners to reclaim an hour a day to focus on their goals. 

As well as being a motivational speaker, a personal trainer, a Mum, and in her own words a professional encourager, Adrienne can now add author to that list. 

Her first book Power Hour: How to Focus on Your Goals and Create a Life You Love is packed with actionable steps that can help you build powerful habits to move you closer to achieving your goals. 

In this episode, Adrienne shares with me the journey that has led her to become the face of the wellness industry, how she finds motivation and positivity, and the challenges and fears she has overcome to now help others pursue their passions. 

Adrienne also shares her own money story, what the value of money means to her, and how she extends her mindset for growth and optimism to her finances. 

Adrienne’s energy is infectious, so we can all kick off 2021 with some positivity! 

You can follow and connect with Adrienne at: 

• Website: https://adriennelondon.com
• Podcast: Power Hour 
• Instagram: https://www.instagram.com/adrienne_ldn
• Twitter: https://twitter.com/adrienne_ldn 

Adrienne shared some resources in this episode. All the links are below:

• Mindset: How You Can Fulfil Your Potential by Carol Dweck https://www.amazon.co.uk/Mindset-How-Fulfil-Your-Potential/dp/1780332009 

You can learn more about Vestpod and subscribe to our newsletter here: https://www.vestpod.com. You can follow us on Instagram @vestpod and join our Facebook group. My book is available to purchase from Amazon and your favourite bookshop.

* Please note that we are not certified, financial advisers! The articles and information made available on Vestpod and this podcast are provided for information and educational purposes only and do not constitute financial advice. You are advised to consult with an independent financial advisor for advice on your specific circumstances.*

Hosted on Acast. See acast.com/privacy for more information.

Many of us have never been taught how to manage our money, this includes how to budget and how to plan for the future, but also how to save in the short term for the things we really want. 

My guest today is Urenna Okonkwo who started her career as a financial advisor helping wealthy clients to manage their money. Today she is the CEO and founder of Cashmere -  an app that is helping young, aspirational consumers learn how to save through setting up a virtual piggy bank, enabling them to make guilt-free luxury purchases and to help them to save for the lifestyles they desire. 

Cashmere is empowering consumers to manage their finances by making considered purchases, turning them away from fast fashion and instant gratification, and developing their saving skills through planning.  

It was fantastic to hear about Urenna’s incredible journey from working in finance to becoming a female entrepreneur in the e-commerce and Fintech space. In today’s episode, she shares some of the challenges she has faced in launching Cashmere, and her experience in gaining funding for the platform as a young black female. 

We also take a look at the future of saving, with some of the innovative solutions that are on the horizon and discuss the power of collaborative saving.

You can follow and connect with Urenna at: 

• Cashmere: https://www.cashmereapp.co.uk/
• Twitter: https://twitter.com/urennalexa and https://twitter.com/Cashmere_HQ 
• Instagram: https://www.instagram.com/urennao

Urenna shared some resources in this episode. All the links are below:

• WealthSimple: www.wealthsimple.com 
• PensionBee: https://www.pensionbee.com
• Stepladder: www.joinstepladder.com 

You can learn more about Vestpod and subscribe to our newsletter here: https://www.vestpod.com. You can follow us on Instagram @vestpod and join our Facebook group. My book is available to purchase from Amazon and your favourite bookshop.

* Please note that we are not certified, financial advisers! The articles and information made available on Vestpod and this podcast are provided for information and educational purposes only and do not constitute financial advice. You are advised to consult with an independent financial advisor for advice on your specific circumstances.*

Hosted on Acast. See acast.com/privacy for more information.

Research from ‘Make my Money Matter’ has shown that moving towards more sustainable funds can have many times more impact in reducing your carbon footprint than giving up flying and becoming vegan combined. 

Joining me today is Alice Ross, Deputy News Editor for the Financial Times and author of the new book Investing To Save The Planet: How Your Money Can Make a Difference - her mission is to highlight the action that every investor, at any level, can take to build a greener future. 

In this episode, Alice gives an introduction to sustainable investing, so what does it mean when we talk about green or sustainable investing, we break down some of the terminology and jargon used in the industry, and discuss the tools available to help avoid greenwashing. 

• Investing To Save The Planet: How Your Money Can Make a Difference: https://www.bookdepository.com/Investing-Save-Planet-Alice-Ross/9780241457238

You can follow and connect with Alice at: 

• Twitter: www.twitter.com/aliceemross
• Financial Times: https://www.ft.com/stream/89bc219c-f119-4b45-bdbe-aacb7e897eed 

Alice shared some great resources in this episode. All the links are below:

• ShareAction: https://shareaction.org/
• Explained: The Future of Meat on Netflix 
• London Stock Exchange, Navigating the green finance landscape report (2019)
• IMF, Chapter 6 Sustainable Finance (2019)
• European Commission, Factsheet: Financing sustainable growth - A new European regime on sustainability-related disclosures that will come into force from March 2021

You can learn more about Vestpod and subscribe to our newsletter here: https://www.vestpod.com. You can follow us on Instagram @vestpod and join our Facebook group. My book is available to purchase from Amazon and your favourite bookshop.

*Remember: the value of investments can go down as well as up so you may get back less than you invest. Always do your own research - and note that what we discussed in the podcast is not a personal recommendation for any particular investment.*

* Please note that we are not certified, financial advisers! The articles and information made available on Vestpod and this podcast are provided for information and educational purposes only and do not constitute financial advice. You are advised to consult with an independent financial advisor for advice on your specific circumstances.*

Hosted on Acast. See acast.com/privacy for more information.

As the pandemic continues to impact personal finances across the world, research shows that women and minority groups are being disproportionately affected. That's why it's increasingly important that financial products, such as bank accounts, savings products and financial advice, are accessible and inclusive for everyone. 

The FCA estimates that in the UK, 1.3 million adults don’t have access to a bank account. Can technology, and the rise of online banks like Starling or Monzo, help make personal finance more inclusive and empower customers to take control of their money?  

My guest today is Nina Mohanty - a financial technology expert - who has had an incredible career in the financial tech industry, working with some of the biggest startups that have transformed the way we manage our money. 

Nina is an advocate for financial inclusion, working on products that champion inclusion and help users build financial resilience, allowing them to be more prepared for life’s unexpected events as well as it's opportunities. Today, Nina shares with us her personal, and professional financial journey. We talk about how the fintech industry evolved and what happens at the crossroad of financial services and technology and how fintech can empower people to make better financial decisions. Nina is very honest about her own financial journey (she’s all about transparency!), tells us how she got into debt, and gives us her top apps and tools that have aided her to spend, save and to get started investing.  

You can follow and connect with Nina at: 

• Twitter: www.twitter.com/ninamohanty 
• Instagram:@nina.mohanty 

Nina shared some great resources in this episode. All the links are below:

• Chip: www.getchip.uk
• Pension Bee: www.pensionbee.com
• Monzo: www.monzo.com
• Starling: www.starlingbank.com 
• Wealthify: www.wealthify.com
• Nutmeg: www.nutmeg.com
• WealthSimple: www.wealthsimple.com
• MoneyBox: www.moneyboxapp.com
• MoneyFarm: www.moneyfarm.com
• Patricia Bright’s budgeting tips: https://www.youtube.com/watch?v=CC5dXZYTO1A 
• ElleVest in the US: https://www.ellevest.com/
• Instagram-hyped fintech Lanistar not authorised, warns FCA: https://www.ft.com/content/31597fd6-4794-4634-8991-bd373b7d8a18 
• Investment protection by the FSCS: https://www.fscs.org.uk/what-we-cover/investments/

*Remember: the value of investments can go down as well as up so you may get back less than you invest. Always do your own research - and note that what we discussed in the podcast is not a personal recommendation for any particular investment.*

You can learn more about Vestpod and subscribe to our newsletter here: https://www.vestpod.com. You can follow us on Instagram @vestpod and join our Facebook group. My book is available to purchase from Amazon and your favourite bookshop.

* Please note that we are not certified, financial advisers! The articles and information made available on Vestpod and this podcast are provided for information and educational purposes only and do not constitute financial advice. You are advised to consult with an independent financial advisor for advice on your specific circumstances.*

Hosted on Acast. See acast.com/privacy for more information.

While the lack of diversity in the financial industry has been well documented, it's still shocking to hear that, according to Morningstar, “there are more funds run by men named David, than there are female fund managers in total”. 

This is despite research by the Pipeline showing that diverse teams and ‘firms with more female executives’ actually 'perform better'. 

So why is the financial industry lacking in diversity and what effect is this having on people who want to invest their money? 

My guest today is Bev Shah, founder of City Hive, a network that champions equality and inclusive culture within the investment sector. With 15 years of experience in the city, Bev is passionate about increasing cognitive, cultural, racial and gender diversity in the financial industry to ensure it becomes both more accessible, but also future-proof. 

Together we look at the barriers women face in finance, the wealth and gender pension gaps, as well as the benefits that will come from creating a more diverse and open industry. Bev talks about recognising the power you have when investing money and how to get started, and shares her tips for navigating and understanding the industry. Instead of looking at what’s wrong with women, we’re talking about what the industry can do to change things.

You can follow and connect with Bev at: 

• CityHive: https://www.cityhive.co.uk
• Twitter: https://twitter.com/thediversegirl 
• Linkedin: https://www.linkedin.com/in/bevshah/ 

Bev shared some great resources in this episode. All the links are below:

• The Big Short Film: https://www.imdb.com/title/tt1596363/
• The Big Short: Inside the Doomsday Machine by Michael Lewis: https://www.amazon.co.uk/Big-Short-Inside-Doomsday-Machine/dp/0141043539
• The Big Exchange: https://www.bigexchange.com/ 

You can learn more about Vestpod and subscribe to our newsletter here: https://www.vestpod.com. You can follow us on Instagram @vestpod and join our Facebook group.

My book is available to purchase from Amazon and your favourite bookshop.

* Please note that we are not certified, financial advisers! The articles and information made available on Vestpod and this podcast are provided for information and educational purposes only and do not constitute financial advice. You are advised to consult with an independent financial advisor for advice on your specific circumstances.*

Hosted on Acast. See acast.com/privacy for more information.

Since reopening after lockdown, the property market has been incredibly active with record house sales being reported in the UK. Rightmove claims that “prices are now 5.5% higher than a year ago, the biggest rate of increase for over four years” and is “now forecasting annual growth rate to peak at circa 7% by December”. 

Thanks to government incentives such as the stamp duty holiday, it may look like an attractive time to move house or buy your first property. But what effect is the Covid-19 pandemic actually having on the property market?

My guest today is Sarah Davidson, knowledge and product editor of This is Money at the MailOnline, and my go-to expert when it comes to mortgages and property. 

Together, we take a look at how the current conditions can affect buying your first property, the impact the pandemic is having on lenders and the mortgage market, and tips for how to best position yourself to buy a home. 

With many people finding themselves on furlough or losing their jobs due to the pandemic, Sarah also shares some valuable insights into the mortgage holidays available for homeowners and guidance for renters if you’re struggling to pay your rent right now. 

You can follow and connect with Sarah at: 

• Twitter: www.twitter.com/SarahDavidson 
• This is money: www.thisismoney.co.uk/money/index.html

Sarah shared some great resources in this episode. All the links are below:

• House price index by Rightmove: https://www.rightmove.co.uk/press-centre/house-price-index/october-2020/ 
• Find latest mortgage rates: https://www.thisismoney.co.uk/money/mortgageshome/index.html 
• True cost mortgage calculator: https://www.thisismoney.co.uk/money/mortgageshome/article-1633400/Mortgage-calculator-Compare-true-cost-rates-fees.html 

You can learn more about Vestpod and subscribe to our newsletter here: https://www.vestpod.com. You can follow us on Instagram @vestpod and join our Facebook group. My book is available to purchase from Amazon and your favourite bookshop.

* Please note that we are not certified, financial advisers! The articles and information made available on Vestpod and this podcast are provided for information and educational purposes only and do not constitute financial advice. You are advised to consult with an independent financial advisor for advice on your specific circumstances.*

Hosted on Acast. See acast.com/privacy for more information.