"Far too many women are hesitant, and remain trapped in jobs for which they are over-qualified or paid beneath their worth." -- Janet Street-Porter 💸


I hope you’re having a good week! I have been quiet on Instagram this week but I am working on a few big things for you Vestpod-ers. It’s all work in progress but I’m going to need your help in a few weeks’ time 🙋. This week’s is a slightly longer editorial about equal financial opportunities - just let me know any questions or comments you might have!

😡 Yesterday (November 14th) was Equal Pay Day in Britain - which means it is the date where women begin to work for “free” and will continue to work for free for the rest of the year. As a little reminder, the World Economic Forum's 2016 Global Gender Gap Report predicted, at current rates, this gap would not be closed for another 170 years. This is still crazy but I hope the below will give you a few practical tips to address the issue.

💥 On Wednesday, I spoke at the super cool Harper’s Bazaar at Work summit at Sotheby’s. For the past four years, this initiative has aimed to inspire, empower and inform readers with the most exciting developments in the world of work - and saw speakers from fashion and finance (us!), ballet and business, literature and the law. The talks and the audience were fantastic as was the Sotheby’s photo exhibition (on New Bond Street). Thank you Lydia Slater for your invitation!

Doing talks like this is always super fun (albeit a bit stressful too). I got picked up by a chauffeur in a fancy car (a very rare and welcome treat!), drove to Sotheby’s and was welcomed in to the green room (where you meet all the speakers, get your makeup done professionally and get mic-ed up before the talk). We then took a few photos (see above) and were led to the stage where a floor of about 100+ women were waiting.

👊 Our panel discussed “Own your worth: equal pay and equal opportunity”. The discussion was led by Diana Chambers - also known as The Family Wealth Mentor™ - who is committed to helping her clients manage their wealth in emotionally intelligent ways. I shared the stage with two other inspiring women: 
  • Carrie Gracie, a Scottish journalist best-known as having been the China editor for BBC News who resigned over equal pay and wrote a fantastic book I want to read called Equal.
  • Eva Lindholm, head of wealth management for UK and Jersey for UBS. UBS published this fascinating research on the topic of women’s relationship to their wealth.
💸 We talked about us owning our value with a focus on our financial worth (i.e. my favourite topic). These are a few takeaways from the discussion (also based on some great prep notes by Diana):
  • We all have challenges when it comes to owning our financial wealth: I talked about not investing my own money while working in finance for Lehman Brothers and an investment fund. You don’t know what you don’t know, and personal finance wasn’t something I was educated about, plus it’s still taboo to talk about money. We can be put off by the jargon used by banks and our generation (hi millennials) started working during turbulent times (the financial crisis) where our salaries were not rising as much as household prices so we could be very lost with managing our finances and understanding how and where to save / invest.
  • Carrie talked about biases in the heads of both men and women that work against women (and our conditioning: girls get less pocket money than boys and do more household chores) and the fact that we think we’ll automatically receive equal pay because we work for renowned organisations - yet unequal pay is everywhere. 
  • We talked about the gender pay gap (women retire on 20% pension savings of men) because we earn less, tend to take career breaks (to raise children or take care of parents) which have an impact on earnings, savings and investments for the long term. But also the fact that women are not taking a lot of risk with their investments resulting in lower risk adjusted returns (see UBS report).
  • Women are also purpose-driven and want to leave something behind that’s greater than their bank balance. We want to achieve financial returns and, at the same time, advance the causes we care about. 
  • No one is “good” or “bad” at managing money we have good and bad days (spending time on New Bond Street a month ish before Christmas can mean a bad day for your credit card!). But it’s important to recognise where we come from, our financial habits, the scripts and things we tell ourselves and the language we use - improving the way we talk about money and think about money positively impacts our wallets (and mental health). Being good at managing money is about 80% mindset and 20% practical and technical!
  • Carrie was amazing talking about why there is gender pay disparity: where pay is secret and discretionary; and the more senior the person and the older they are. She offered solutions on raising awareness, talking more openly about salaries, being more vigilant about unconscious bias and recognising /avoiding inequity from happening. Prevention is easier than cure. Negotiations are important from both sides: ladies, make sure you regularly negotiate your salary! And if you don’t get what YOU want (and what you think is fair) don’t hesitate to leave.
  • UBS observed in their report that millennial women are continuing the pattern of often deferring to the men in their lives when it comes to financial decisions that will affect their long-term financial wellbeing but Diana mentioned that “A man is not a financial plan”. I believe you have to have your own money, your own account and of course take decisions together but have some of your own and understand your long term investment decisions. The same applies for financial advisers: make sure you understand what they are doing with your money. Remember you are the client, and it’s your money. They should be held accountable and do the best job they can for you based on your goals.
⚡ All in all, fascinating stuff. So in short, take care of yourself, start managing your money and saving for yourself, your future, your own security. Work on your money mindset, how you can face the money topic and get better at it. Work on your value: you certainly deserve more, so go negotiate your salary and rates and save this extra money and potentially invest it. Think of ways you can better use your money (saving the planet, investing in things and projects you believe in). You should feel good about it. You can do it! 

🌟 In this week’s newsletter, we’ll look at the main money news of the week, our anonymous money story, book reviews and events.
Please Forward Me to A Friend! 

Vestpod Events:

9th December: Workshop “Intro to Investing”
Our signature workshop with Emilie £35 (sold out)

18th December: Vestpod Series
Save the date, tickets on sale next week! We have a very special guest:)

I am speaking at these events:

25th November: Declare x Vestpod on financial literacy, lesson 3
Apply here

5th December: Women of Wearables "Women & Money: Empowering Women Financially"

👀 All events are here on:
What On Earth
Are We Doing With Our Money?
You may already know Refinery29’s Money Diaries… this is our own version of it! We’ve put together a few questions to understand what women are doing with their money. Let’s break the taboo and talk more about finances!
It’s short, snappy, fun and anonymous.
3 min read 🌟

Vestpod in the news!

🌟 Yesterday night I spoke at the fourth of ‘She Made It’ series hosted by Makers, here is the summary of the talk by Adele Barlow!

🌟 We’re in Restless mag talking about “Why We Spend Money We Don’t Have” with Charlotte Moore.

🌟 Let’s discuss podcast Ep. 61: "You're Not Broke, You're Pre-Rich" - An Interview With Emilie Bellet, Author and Founder & CEO of Vestpod. 

🌟 Thank you Ruth for mentioning Vestpod newsletter in this Morningstar article: “Ethical Ways to Invest an Inheritance

What else?

🔮 “I'm 30 and earn £50,000: How much do I need to save into a pension now to retire at 60 on £30,000 a year?” This is Money  

💰 VCs… more money for female founders please! When it comes to selling or IPOing their companies, female founders are gaining ground at an increasing pace. In 2018, startups with at least one female founder accounted for 14% of exits, generating a total of $26.3 billion. PitchBook-All Raise All In Report

🙋 Great news at the Financial Times - they name first woman as top editor in its 131 years: Roula Khalaf. The New York Times

🌳 Video: spotlight on sustainable investing. Bloomberg

👀 Not usually a big fan of lists but the first-ever TIME 100 Next is here, and it looks good! Check Glossier’s Emily Weiss profile by Reddit co-founder Alexis Ohanian. 

💸  Sallie Krawcheck gave an impassioned speech at the Get Money Get Paid conference, hosted by the networking group Ladies Get Paid. The Story Exchange

👉 Blackstone Group is buying a stake in MagicLab (online dating apps Bumble, Badoo and others) in a deal that values the entire group at $3 billion. Whitney Wolfe Herd, founder and CEO of Bumble, the dating app that markets itself as empowering women, is taking over as CEO of the entire group. Forbes

🐣 Interesting opinion piece in the New York Times: “Early Motherhood Has Always Been Miserable

Many of you have asked, so… yes, you can now bring Vestpod into your office or university to lead workshops, present my book (You’re Not Broke, You’re Pre-Rich) or organise money talks to get more women financially empowered and provide value to employees. To inquire about press, brand work or booking me for speaking engagements please visit Vestpod or email Francesca Zampi on
Relieved to find not only a UK centric book all about personal finances, but one written by a woman. It’s broken up into user friendly chapters in a style both accessible to linear and non-linear reading approaches. 
The investment chapter broke it down to ‘never’ level so made it easy and engaging to understand. I can’t lie, I even liked the little emojis used to classify her points!

In particular, her exploration of money behaviour in the form of ‘money scripts’ is not only helpful, but gives a springboard to allow others to communicate to friends and loved ones about opening up more about money. It’s so true about it being a taboo- and she’s right! We are more likely to discuss sexual relations over personal finance. It makes sense to be just as supportive in both areas. I hope there will be a cultural shift to being more open with money the less it’s associated with the value of a person. Which of course is rubbish - your value as a person is NOT linked to your monetary worth. This ideology needs to be banished from the implicit realm it dwells in..

Anyway! I would very much recommend this insightful, clear and informative narrative around money.
#1 Amazon bestseller in Online Trading & Investing & Financing Mortgages
⭐⭐⭐⭐⭐ 48 customer reviews  
💸 Order on Amazon
😜 Review on Amazon
📱 We are also on Instagram 📱
Do you want to continue our discussion online with the community? Follow us on Instagram and join our secret Facebook Group here.
We are not certified financial advisers! The articles and information made available on Vestpod are provided for information and educational purposes only and do not constitute financial advice. You are advised to consult with an independent financial advisor for advice on your specific circumstances.
Copyright © 2019 Vestpod Ltd, All rights reserved.

Want to change how you receive these emails?
You can update your preferences or unsubscribe from this list

Email Marketing Powered by Mailchimp