According to the presidencies Women Understanding Money Report, more than 50% of girls find handling money stressed and dull. This is understandable as the way money is explained is usually in metaphors that only appeal to men like soccer and vehicles. Many girls love fashion, dating and families and if finance was explained using these analogies then maybe it would not be so damn boring for most women. The education system too explains physics and chemistry and many subjects using rockets, pucks and things boys are interested in, so my friend and I decided to wake everyone up a bit and wrote a book explaining finance through analogies that girls have an interest in like shopping, dating and fashion analogies. The book Flirting With Financewhich was released by Fairfax (an Australian financial paper publisher), has sold out!
Now I am attempting to think of what next? I’m pondering a place, perhaps even a Facebook page or group where there may be more interaction, perhaps far more participation from the girls that are now getting more curious about finance.
In my actual day job, as a home-loan broker I’ve seen more ladies taking on investment properties; some have even now dabbled in development finance for bigger developments- something they might not had the confidence to get the team together to do before.
Strangley the client of mine that made the most money was a19 year old girl, who never earned more than 40k a year! She just acquired investment units in mining towns. Cashflow positive from the first day and have now tripled in price!
There are some things deeply satisfying in knowing such a young, smart girl did so well! I bet nobody in her office has any concept she made over 1 million in assets while she was the most junior person in the company, living in shared places with her boyfriend. Now he wants to buy some property! She’s still deciding if she will help him with his research.
Virginia Graham managesCentral Coast Mortgage Brokerand was formerly a loan rate dealer, stockbroker and worked in accounting. Virginia is a recognized finance expert on channel 7, 9 and for local Australian papers and MMM radio.