In this episode of the ‘Making It Count’ podcast, we sit down with Karen Eley, founder of ‘Women Talking Finance’, a service which provides money coaching and financial literacy services specifically to women. Today we dive deep into the psychology behind how we treat money and why we do what we do in this space.
She was raised by a single mum who told Karen that ‘a man is not a financial plan,’ an ethos she adopted from an early age. After many years working in the auditing and technical services space, Karen took a leap of faith and in 2019 started her own financial coaching service ‘Women Talking Finance.’ ‘I wanted to work with clients to unpack the psychology behind how we handle our finances so they could make long-lasting and sustainable changes for the better in how they manage their money’ says Karen.
‘Men and women often come from different backgrounds when it comes to values or how we should approach the money we spend’ explains Karen, ‘There are two sides to managing money – the external side and the internal side’. Karen has seen vast difference between how women in their 20s approach their finances compared with women in their 40s. ‘Women have everything they need to be really good investors; they just need to apply the same strategy to an investment portfolio and go from consumers to investors.’
Money is intertwined in all we do as humans. ‘Money stress can impact our health and even relationships.’ So, with that in mind we ask Karen for her top three tips for long term financial goals. First, we need to make financial goals with purpose and direction. Secondly, build your knowledge around your finances and finally, and most importantly, ‘become really clear on what money means to you – reflect on your childhood associations with money – because as children we are conditioned around what we think, feel and how we act with money.’
So, sit back and enjoy this episode as Karen Eley Makes It Count when it comes to managing our finances.