Thanks for all the comments ladies and
gents!
I am finding that there are two distinct
flavours readers prefer.
The first has to do with discussing our
values and dreams and then applying concrete exercises like making your own
balance sheet and income statement to help realize those values and dreams. Where
are we now and where do we want to be. By analyzing these financial statements
to see where the money is going, we can now re-route and deploy the funds more
effectively as well as pump up the revenues (via increased value proposition)
and decrease the expenses (discuss necessities vs. luxuries).
Next comes creating a budget and
strategizing ways to stay within it. As
women, we think about things differently. There are things we are good at so
let’s take those skillsets and apply them to the world of investments. In fact,
studies are showing that women actually make better investors (see Globe and
Mail article from October 16, 2015, ‘Men are from Mars, women make better
investors) because of our natural tendency to be modest, keep things simple and
being very analytical and reflective.
The second path readers discussed was
increasing our financial literacy. In other words, women want to know how to
become more financially savvy. If we open the pages of the financial newspaper,
what does all of it mean? Everything from definitions of ETF’s and dividends to
RRSPs, RESP’s and TFSAs. Of course, fees would have to go in this section as
well. And let’s not forget taxes! Ugh. I’ll admit it. Even I don’t like to talk
about that…but I must I suppose.
One really great suggestion was to discuss
how capital markets serve society and the factors that go into play that we
should we aware of when wanting to be more active with our portfolio. This, along
with the application of financial jargon to everyday analogies, should round
out part 2.
The question now is, which fork in the road
do I start with? The first suggestion of more broad-based values/dreams and
concrete strategies or the second suggestion of understanding the markets
better so there are more tools in the financial toolkit?
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