“You know the saying that ‘every dollar you spend is a vote for the kind of world you want to live in’? Well, we want you to have some more votes so we can start building that world. While feminism and capitalism have many opposing principles, like it or not we are living in a capitalist society, and more money for women translates to more influence. And that’s gotta be a good thing.” - P.M.S podcast host Michèle A’Court.
Introducing a new podcast series, P.M.S - redefining Power, Money, Security for women.
Episode one - Finance 101: The great stocktake - drops today and features thoughtful, insightful real world experiences and advice from guests Retirement Commissioner Jane Wrightson, Twenty-seven Names’ Anjali Burnett and Glenys Wilson from Mercer.
We all know there’s a litany of depressing stats explaining why women are behind men in terms of savings and retirement. P.M.S host Michèle A’Court calls it ‘the trifecta of misery’ - namely the gender pay gap; the fact women are more likely to take time out of the workforce and are more likely to work part-time and the fact they are more likely to invest conservatively. This all adds up to earning less, contributing less to KiwiSaver and being more likely to retire into poverty.
Yet we know women, who make 80% of household purchasing decisions, are actually great with money when given the chance.
Finance 101: The great stocktake, examines financial confidence vs financial literacy, and hears three key tips for practical change we can implement now, before P.M.S dives deeper into topics like KiwiSaver and investing over the coming weeks.
Guest Anjali Burnett founded leading fashion brand Twenty-seven Names in 2006 with best friend Rachel Easting. Raised by her immigrant mother in Pōneke/Wellington Anjali has grown up with a an appreciation for hard work and hustle, from high school paper runs to purchasing of a ghetto blaster from the Trade and Exchange, through to careful financial management of her internationally acclaimed fashion business and household expenses (she is a mother to three young children). Anjali admits to struggling with ‘shame’ over the industry in which she works. “Clothes are expensive.” Because of this she feels strongly about being transparent about money, and she provides honest insights coupled with practical advice.
Jane Wrightson has had a long career in media before recently taking up the role of Retirement Commissioner where she’s able to use her excellent communication skills to outline systemic issues facing women fused with practical tips that can empower us to fight back.
“Paying yourself first is the most brilliant way to start thinking about your own financial capability,” she explains. “It doesn't matter whether you're on salary, whether you're self-employed, whether you're in the gig economy, whether you're on the minimum wage, unless you're in abject poverty, paying yourself first is a really great principle to start with.”
Jane points out that the first time you get paid it feels like an exciting amount of money, but it eventually gets harder and harder to survive on. “So if you train yourself right from the beginning… to start thinking, pay yourself first, that's the best thing.”
Click below to listen to the full podcast for all this plus much more relatable and implementable advice to help get you on the path to financial freedom - and using those dollars to create the world you want to live in.
On upcoming episodes of P.M.S Michèle speaks with women on all levels of the financial spectrum: leaders in the field such as Ace Lady Network’s Angela Meyer, Latayvia Tualasea-Tautai, Philippa Newlove and Tracey Cross from Women in Super, Girls That Invest’s Simran Kaur, Glenys Wilson, Sarah Whitelock and Kylie Willment from Mercer as we tackle subjects such as money and relationships, investing and KiwiSaver. Listen, subscribe, rate. Where podcasts are available.
Power Money Security is brought to you by The Table, where Kiwi women talk money, sponsored by Mercer (N.Z.) Limited. See seatatthetable.co.nz for more information and tools to educate and empower women to get ahead in financial matters.