Generally, I’m pretty good at keeping my life afloat. I pay my bills, manage to clothe and shelter myself, maintain a job and I adult, most days. One big exception is investing: I’d give myself a ‘C’ in money management.
Up until now, I’ve avoided learning anything beyond money basics. Today I started to change that. I took the morning to review my bills, account balances and stopped auto renewing accounts I’m not utilizing.
Additionally, I found some great resources online.
I’m moving some of my investments from a typical investment firm to Ellevest.
Ellevest is an investment firm “led by CEO and co-founder, Sallie Krawcheck, a former Wall Street CEO and industry veteran called “The Last Honest Analyst” by Fortune Magazine. She’s teamed up with brilliant analysts, entrepreneurs and engineers to close the gender money gap for women. She started Ellevest after she realized investing generally fails women.”
Financial advisers are 86 percent male and overwhelmingly Caucasian. Women feel condescended to, they feel talked down to, they feel misunderstood. It’s all about outperforming, and beating the market, which our customer tells us is not important to her–and by the way, she understands that few people achieve it. And of course the industry symbol is a phallic symbol–a bull.
The financial services industry speaks to her in the language of “Would you like a mutual fund or an ETF, large cap value or small cap growth?” And she’s thinking in terms of “I want to buy a house in six years, so how can I get from here to there?”Sallie Krawcheck | Ellevest
2. Daily Worth
“Our goal is that all women see money not as a source of stress and anxiety, but as one of freedom and empowerment. Investing doesn’t have to be complicated. Saving is not selfish. And spending doesn’t have to be accompanied by guilt. That’s
DailyWorth’s promise.” About | Daily Worth
I started to research how to improve my financial IQ. There is plenty of information including this quiz called How good are you with money…actually? which I took. Good news, I’m Coasting, But Ready to Build a Cash Cushion. Sounds pretty good and came with suggestions. My homework generated by my quiz results:
3. HerMoney from Jean Chatzky
I read 10 INVESTING QUESTIONS EXPLAINED IN PLAIN ENGLISH. I’ve attempted to learn more in the past but found financial jargon frustrating. In truth, I’ve never sat down and learned the basics. Apparently, I’m not alone.
“Investing seems largely out of reach to many people (and Wall Street has especially shut out women). But it doesn’t have to be inaccessible or scary if you have basic knowledge to bolster your confidence. Here, we build on what you learned in our first installment of basic investing questions so you can start growing your net worth.” Karen Carr | November 2, 2018 |HerMoney
The unknown is scary, especially when it comes to money. It’s almost noon and I feel better already. Face the fear!