Confidence Is The Key to Financial Power

By Wendy Brookhouse

Jun 19
Blog Post Financial Confidence

Why Do You Need To Wield Your Full Financial Power?

As women, we have so much financial power! We’re the majority of college/university graduates, we make up 48% of Canada’s workforce and we make over 80% of the buying decisions. It’s important that we take the time to tap into our power, and unleash it!!

I talk to women about money, investing and finances on a daily basis. These conversations are wide ranging, and I will say that despite the media and big institutions trying to fit all females into a single box, it’s hard to sum up our financial needs, habits and attitudes in simple terms. Women are complex – which is what makes us so awesome! We have a ton of responsibilities, so sometimes we delegate the finances to our partner, our banker, our advisors. Often we underestimate our capabilities, or just don’t feel like we’ve spent the time to gain enough confidence to make our own decisions.  

And that is one of the reasons I do what I do:  I like being the Sorcery Guide who helps women wield their full financial power.

Even if you’re a remarkable adult, you might doubt your capabilities.

Do you identify with any of these stories?

Julia is a high powered executive in a professional services firm.  In her mid-40s, she is married with three beautiful children. Over coffee, Julia confessed to me that getting to the top of her field and raising a family meant that she had been passively (read totally delegated) her savings and investment strategies to her advisor.  Now that her kids are older and she’s starting to think a bit more about retirement, she wants to engage more in her investments. But given her age and position, she’s ashamed to ask all her pressing questions – because she feels like she “should already know.”

Heather is in her mid-30s with a seven year old child. She says over and over that she hates numbers and investments. Her husband handled all that, and they really didn’t talk too much about it. Even when he got sick, they didn’t discuss money. And they didn’t make time for the conversation before he passed away. Now Heather is navigating a new reality, trying to get up to speed on everything, while dealing with mind-numbing grief.

Greta is in her late 50s and wants to retire. She is divorced with three grown children and a sprinkling of grandchildren. Greta wants to know when she can retire, but she’s afraid what the answer might be.   She has several unanswered questions – should she focus on paying off her mortgage or max out her RRSP? What is the right strategy to get her across the finish line? – but she’s tired of talking to a different account manager every time she goes into her bank.  

All three of these stories are real (with names changed for privacy).  And all of these women do have something in common: money power that they’re not using or commanding for full effect.  Their power has been sitting dormant – only used whey they’re feeling comfortable and confident. And all they had to do was top up their financial literacy and coat it with a nice thick layer of financial confidence.  

So how do time-starved, overwhelmed, got-other-important-things-to-do women like Julia, Heather and Greta increase their financial confidence? In bite-sized pieces. Without Jargon. Without having to start research from scratch and spend hours finding and assessing contradictory information.   

Ready to Unleash Your Own Money Power?

Sign up for our 30-video Financial Confidence Challenge.  Receive super-short videos in your inbox Monday to Friday, along with some downloadable tools and you’ll be on your way!

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