The Fiscal Feminist: Recent Episodes
Kimberlee A. Davis
Kimberlee Davis is your host of The Fiscal Feminist, a show about women and our relationship with money and finances. Kimberlee Davis is Managing Director and Partner at The Bahnsen Group, a private wealth management firm. She specializes in personal wealth advising and oversees financial and retirement planning solutions for high net worth individuals and multi-generational families. Her proficiency also includes helping individuals transition to financial independence after life altering events such as death or divorce.
Are you paralyzed by credit card debt and not sure where to start with paying it off? In our first episode on debt, diet and alcohol, Kimberlee explored the psychology of debt. Today, she’s sharing an actionable plan you can use to start paying off your debt today, and avoid falling back into it in the future. She also breaks down some key financial concepts like debt consolidation, good versus bad debt, and two common debt payoff methods.
Episode Recap:
- Today we’re continuing our conversation on debt, diet and alcohol (01:31)
- Take a deep breath; then it’s time to create a budget (03:27)
- Understanding the debt avalanche method (0:04:30)
- Pros and cons of the debt snowball method (07:48)
- Should you consolidate your credit card debt? (10:14)
- Good debt versus bad debt (20:02)
- Once you’ve started paying off your debt, do these things (23:07)
Resources:
- Visit the Fiscal Feminist Website
- Find every episode of the Fiscal Feminist podcast
- “The Fiscal Feminist” book
- “Debt, Diet and Alcohol Part 1” episode
- “Psychology of the Budget” episode
- Calculators for debt payoff
Quotes:“So, I want to just make a quick note here about good debt versus bad debt. Is there good debt? Yes, there is good debt. All debt is not created equal, right? Debt used to build wealth is generally viewed as good debt: taking out a mortgage, investing in yourself by borrowing for more education so you can get a good job, small business loans, or debt consolidation. These are all forms of good debt that are going to help you build you net worth, either by getting an asset like a house or getting an education so that you can go get a better job, or eliminating high-interest rate credit cards so you can lower your interest rate and pay one payment and get all this debt eradicated over a certain, finite period of time.”
“The first thing I recommend to everybody, because I know this works, is take a very deep breath. This is a doable strategy. You can do it. I know it’s overwhelming, and when you look at your credit card statements, sometimes you think ‘OMG, how did I get myself into this big mess. So take a deep breath. Anything can be accomplished if we put our minds to it.”
Building a real estate business can be much easier than many of us realize; in some cases, you don’t even need to own the property! In this episode, Kimberlee talks with Airbnb investor and educator Lauren Piller about her journey from nursing to working in real estate full time. Lauren explains how co-hosting helped her make the transition, and she shares some of her top tips for buying your first investment property, maximizing the value of your Airbnb, setting pricing, and more. Whether you’re completely new to real estate or want to learn more about the vacation rental space, Lauren has so much wisdom to share!
Episode Recap:
- Today we’re talking with Lauren Piller about building a real estate business (1:02)
- How did you end up doing real estate? (2:04)
- Basics you need to know when buying your first investment property (9:10)
- How does co-hosting work? (16:21)
- How to work with Lauren (20:58)
- Tips for choosing an Airbnb location (28:20)
- What can you do to set your listing apart, and what amenities are essential? (31:58)
- How does insurance work for vacation rentals? (36:17)
- What factors do you consider when setting your pricing? (37:55)
- Where to learn more from Lauren (42:27)
Resources:
- Find every episode of the Fiscal Feminist podcast
- “The Fiscal Feminist” book
- Follow Lauren on Instagram and TikTok
- Learn more from Lauren
Quotes:“No one knows anything about finances, investing and loans. I barely do, and I know more than most people. So it’s just crazy to me that we’re supposed to go out here and buy houses and do all these things, but I’m a millennial, so I have to learn as I go. So it’s interesting to see the lack of knowledge.”
“Tell me a little bit about cohosting. Because I think a lot of people would be really interested in that because it has a low barrier to entry, right? You don’t have to buy a
house, right? Yeah the most cost effective way to get your start and to learn, for sure.
So what exactly does somebody do? How do they get involved with this, how do they find out about it, how do they find someone to cohost with, how does that work?
The easiest way that I always recommend to my followers is to just ask a friend or a family member. You’d be surprised how many people have rental properties or already have Airbnbs that are either empty or not making as much as they could with their tenants. It’s an easy way to go in, that’s what I did with my parents, they were my first cohosting client. I was like ‘Let me take your rental property and throw it on Airbnb. I will definitely increase profits, I will do all the work, it’s a win-win here.’ I like it because it's another pivot for people, too. You can do it while you’re still working other jobs and just branch out to see if it’s even worth taking the jump for.”
Whether we realize it or not, many of us could benefit from some financial therapy. In this episode, Kimberlee talks with financial therapist Aja Evans about the work she’s doing, the inspiration behind it, and the practical advice she has for women about navigating their finances. Aja breaks down the relationship between our money and our self esteem, shares her top tips for navigating prenups, explains how you can get yourself out of a shame spiral, and much more!
Episode Recap:
- Today we’re talking with Financial Therapist Aja Evans (0:58)
- What is a financial therapist? (1:58)
- Can you tell us about your financial awakening? (5:34)
- Self esteem directly impacts our relationship with money (9:27)
- If you’re struggling with a self esteem spiral, take a pause (13:18)
- Rewrite the narratives that aren’t serving you (21:19)
- Do you have any tips for navigating prenups? (32:19)
- What trends are you noticing in financial therapy? (41:15)
- Where to learn more from Aja (44:16)
Resources:
- Find every episode of the Fiscal Feminist podcast
- “The Fiscal Feminist” book
- Follow Aja on Instagram and TikTok
- Aja’s website
Quotes:“Any financial decisions we make when we’re heightened, when we're upset, when we’re anxious, usually are just about a quick fix. We are trying to get ourselves out of a place of discomfort and into comfort as quickly as possible, and a lot of times that is not the best strategy for your finances. So looking at taking the breath, making the plan, and then deciding how you’re going to execute and what you want that to look like. And be mindful of what emotional or financial triggers might come up for you that may cause you to spiral again.”
“Have the conversation. Be awkward about it. Trip over yourself when you’re talking to each other. But if you cannot have these conversations about money, if you disagree or don’t disagree, we got other things. Because life is going to come at you hard and fast, and if you can’t talk to this person who you’ve decided you want to commit the rest of your life to, it’s going to be really difficult. It’s going to be very, very difficult, and we don’t need it to be that hard.”
Linda Garcia has an incredibly powerful story, from overcoming a difficult childhood to building a six-figure career at Netflix to starting an organization that empowers other women to invest in the stock market. In this episode, Linda tells her story and focuses on some of the key moments when she learned to ask for what she was worth, overcome her scarcity mindset to start investing, and work to equip others with the mindsets they need to build wealth. This episode is full of both inspiration and practical tips, so you won’t want to miss it!
Episode Recap:
- Today we’re talking with Linda Garcia of In Luz We Trust (0:00:57)
- Can you tell us about your career journey? (0:03:21)
- How does money impact our psyche and self esteem? (0:11:12)
- Learning to know your worth (0:14:42)
- It’s never too early to set up a 401(k), especially with employer match (0:20:33)
- Discovering the power of passive income (0:25:24)
- In search of the million dollar idea (0:32:04)
- Empowering people to overcome scarcity mindset (0:38:50)
- Counseling people through market downturns (0:50:49)
- What’s your next million dollar idea? (57:21)
- How to learn from Linda (0:59:12)
Resources:
- Find every episode of the Fiscal Feminist podcast
- “The Fiscal Feminist” book
- “Wealth Warrior” by Linda Garcia
- In Luz We Trust website
- Follow Linda and In Luz We Trust on Instagram
- Join In Luz We Trust on Patreon
Quotes:
“I’ve watched my parents work multiple jobs. I've watched them work so hard to earn one dollar. And so the thought of money multiplying using other money was mind blowing. And so at that time I decided, ‘I'm going to double down, and instead of doing $200 a month, I’m going to do $400 a month.’”
“It doesn’t matter how much financial literacy you take in. If you don’t identify your relationship with money and how toxic it can be, then you’re not going to be able to build wealth. I feel like it is almost impossible. If you really believe that wealthy people are greedy, then your subconscious will do everything to repel becoming wealthy because you don’t want to be greedy.”
We often think of money solely in objective terms, but our finances are also emotional and spiritual. In this episode, Kimberlee talks with “The Money Witch” Jesse-Susannah Karnatz about the amazing work she’s doing to help people heal their relationships with money. Jesse-Susannah explains why so many people think they’re bad with money and describes how you can begin to shift that mindset to one of abundance. Jesse-Susannah is an author, leader of the Money Coven, and coach providing capitalism-critical, shame-free education.
Episode Recap:
- Today we’re talking with “The Money Witch,” Jesse-Susannah Karnatz (0:56)
- Manifestation is about getting out of your own way (5:26)
- Can you tell us about the kinds of work you do? (8:00)
- Why do people think they’re bad with money? (15:30)
- There’s no shame in having debt (19:51)
- Abundance is a cycle (28:31)
- Your finances need love, not willpower (33:36)
- How to learn more from Jesse-Susannah (38:00)
Resources:
- Find every episode of the Fiscal Feminist podcast
- “The Fiscal Feminist” book
- Money Witch Website
- Follow Money Witch on Instagram and YouTube
- Money Coven
- Money Witch products
- Apply for one-on-one coaching
- “Money Magic” by Jesse-Susannah Karnatz
Quotes:
“My business subtitle is ‘Heal your finances.’ So, it’s Money Witch: Heal Your Finances. What I mean when I say healing is it’s a movement of energy. We want to experience shift. We want to experience ourself being able to respond differently to something we’ve been stuck in in the past. We want to come full circle to like a moment where we know, in the past I might have done this, but now I’m choosing to do this. More intentionality, less impulsivity, less reactivity. That’s what I see as healing.”
“Your finances need more love, not more willpower. A lot of times when we’re trying to shift something in our financial life, we’re operating from a shame-based place, and we get into this willpower ethic thing, where we’re like, ‘I’m going to just try the same thing I’ve been trying, and I’m going to try it again, but this time I’m going to do it better because I’ll be a better person and I’ll just do it.’ And I don’t think that is very self-loving or very wise. We really have to dig in and look at what needs to iterate in the plan. If there’s something that you just cannot get done, whether it’s making a budget, doing your bookkeeping, filing your taxes on time without filing an extension, any of these things, really start looking at why that is and how can you iterate the plan and try something different.”
The average Black American has about 13 times less wealth than white Americans, so it’s time for something to change. In this episode, Kimberlee talks with Runway Founder and CEO Jessica Norwood about the massive wealth gap for Black Americans and the work she’s doing to change that. Through Runway, Jessica is empowering Black entrepreneurs with capital and mentorship, and she’s also a speaker, author, and podcast host at the forefront of conversations about the intersection of race and economics, and she has so many powerful insights to share in this conversation.
Episode Recap:
- Today we’re talking with Jessica Norwood, founder and CEO of Runway (0:56)
- Can you tell us about your career journey up to this point? (4:14)
- Why is access to education so important for disadvantaged groups? (10:43)
- Black entrepreneurs just don’t have the same access to capital or mentorship (16:06)
- How is Runway helping Black entrepreneurs? (26:45)
- An intersectional approach to capital (38:33)
- What role can the government play in financial equity? (45:32)
- Where to learn more from Jessica (55:13)
Resources:
- Find every episode of the Fiscal Feminist podcast
- “The Fiscal Feminist” book
- Runway website
- Preorder “Believe in You Money” by Jessica Norwood
- Road to Repair podcast
- Jessica’s website
Quotes:
“I wanted to better my community. I wanted to support the innovators and change makers and just brilliance that I saw all around me. But I also saw that there was this gap of being able to get access to the resources that people needed, and I couldn’t understand why.”
“Wealth gets unequally distributed because of racial bias. And it looks like, at the time when I started Runway this was a piece of data that was so new, I want to say it was about 6 or 7 years ago, the data has since been updated. But the number then was that white people had $141,000 in wealth and Black families had about $11,000. And this was including the wealthiest wealthy that you could think of, right, on both sides of the equation. So I like to say it’s P Diddy and all my cousins in that number. And it’s about $10, 11 thousand. And then you’ve got uber, uber wealthy, wealthy folks, billionaire folks, and all your cousins in there. And still the number lays out to this disparity between almost 13 times, 14 times more than the other.”
No one likes to talk about the worst-case scenario, but we need to be prepared for the unexpected. In this episode, Kimberlee talks with her colleague Sarah Leitzke, director of risk management at the Bahnsen Group. Sarah provides a primer on the 3 main types of insurance you should consider to secure your and your family’s futures. She also answers some of the most frequently asked insurance questions, like when to buy insurance, how to find the right policy, and what insurance will actually cover.
Episode Recap:
- Today we’re talking with risk management director Sara Leitzke (0:01:01)
- Mentorship is key for women in the workplace (0:05:57)
- What is risk management and why is it important? (0:11:03)
- What qualifies as a disability for insurance? (0:15:54)
- Whole life vs. term insurance: Which is right for you? (0:24:13)
- When should you buy long-term care insurance? (0:34:02)
- How to choose the right long-term care insurance (0:41:34)
- Should you purchase a joint or individual policy? (0:49:03)
- Long-term care is an investment for you and your family (0:51:05)
- Today is the best day to get coverage (0:58:00)
Resources:
- Find every episode of the Fiscal Feminist podcast
- “The Fiscal Feminist” book
- The Bahnsen Group website
Quotes:
“I think some people think, especially when we’re younger, we think ‘I set up my emergency account, I'm investing, I’m saving money, I’m good.’ But we need to plan for other risks, because there are other risks in our lives that an emergency account just won’t cut it. If you need to change jobs and you’re maybe going without a job for a few months, your emergency account is probably going to get you there. But if you have suffered an injury that puts you out of work for a long time, if you have an illness that puts you out of work for a long time, your health insurance probably isn’t going to cut it because they’re not going to pay you to not have a job. So then you turn to different types of insurance. So maybe you need to buy some disability insurance to insure your income. Because your most important asset is your income.”
“If you are thinking about getting coverage of any kind and you’re dragging your feet — which I have done and had to snap myself out of — you’re as young as you’ll ever be today, probably as healthy as you’ll ever be today, and all of this, every type of insurance we’ve talked about today, requires medical underwriting. And the best time to do it is today.”
No matter who you are or where you work, gender bias impacts every woman in the workplace. Amy Diehl has dedicated her career to understanding those biases, and in this episode, she’s sharing some of the most important findings from her new book, “Glass Walls.” Amy breaks down the six types of bias that hold women back the most, unpacks the common barriers that keep women from leadership positions, and shares some practical tips for dealing with gender bias. Whether you need some extra motivation to keep going in your career or you just want to learn more, this episode is packed with valuable insight!
Episode Recap:
- Today we’re talking with gender equity researcher and author Amy Diehl (0:00:58)
- How did you discover your passion for gender equity? (0:02:51)
- No woman is immune to gender bias in the workplace (0:10:30)
- We’re missing out on major progress when we don’t give women opportunities (0:15:40)
- What are the six types of gender bias in your book? (0:22:02)
- Male privilege (0:22:21)
- Disproportionate constraints (0:27:25)
- Insufficient support (0:31:48)
- Devaluation (0:36:02)
- Hostility (0:37:55)
- Acquiescence (0:43:30)
- What are some of the critiques that keep women from leadership? (0:47:16)
- How can we respond to this inequity? (0:53:43)
- Where to connect with Amy (0:58:27)
Resources:
- Find every episode of the Fiscal Feminist podcast
- “The Fiscal Feminist” book
- “Glass Walls” by Amy Diehl and Leanne M. Dzubinski
- Why Women are Held Back from Leadership article
- Ageism article
- Amy Diehl’s website
- Follow Amy on Instagram, LinkedIn, and Twitter
Quotes:
“How many women don’t persist? Because they can’t. They make very rational choices to quit, or to stay where they’re at, or whatever. I think about the societal progress that we’re missing because we’re really holding back half of society. Half of the brain power, right? — Amy
“I’m not saying we have to be confrontational or rude or any of those things, but we have to be persistent and we have to be resilient. Don’t make yourself smaller, because we’ve already been going through that for a billion years. And to your point, Amy, if all women were able to do their job on an even playing field, not only would society be more productive, there’d be a million new inventions and things going on in the world, and our global economic — Kimberlee
We all know debt is bad for our financial and mental health, so why do we have so much trouble staying away from it? In this episode, Kimberlee explores this question by digging into the psychology of debt. She shares several factors that may contribute to our debt struggles, from our relationships to our spending to our education, and she reminds us that managing debt is vital for our physical and mental health. And stay tuned for part 2, where we’ll talk about strategies for tackling debt!
Episode Recap:
- Today we’re talking about the psychology of debt (1:02)
- Knowing something is bad for us isn’t always enough to stop us from doing it (2:12)
- Debt and health are directly linked (5:52)
- The average American has $5,700 of credit card debt (7:47)
- We incur debt when we don’t have a budget (12:12)
- We incur debt when we spend more than we make (14:14)
- Our debt grows when we don’t have enough cash flow for interest and expenses (17:16)
- Marriage problems can make debt worse (20:24)
- We struggle with debt when we don’t understand it (23:16)
- Don’t rob yourself of future stability (25:53)
Resources:
- Find every episode of the Fiscal Feminist podcast
- “The Fiscal Feminist” book
Quotes:
“Don’t rob yourself of future financial stability because it will affect your health as well. If you have a health problem, you go to the doctor and try to figure out how to fix it so that you can stay healthy. This is as important as going to the doctor, because if you don’t, you may end up having health problems over it because you get so stressed out. So, the point of this podcast is for you to ponder the why of your debt honestly, and that is the first step to solving the problem.”
“Most people fail to plan. They don’t have a budget, and they rely on intuition to regulate spending. ‘Should I be spending this? Eh, well I have a little bit of room.’ But they don’t know because they haven’t done a budget. And this is a really, really bad idea.”
How can we make the most of a system where the odds are stacked against us? In this episode, Randi Braun explains how we can set better boundaries and stop feeling so much guilt even as we’re working in an environment that puts women and other marginalized groups at a disadvantage. Randi is a coach, thought leader, and author of the bestselling book “Something Major: The New Playbook for Women at Work,” and she shares powerful insights that you can start applying to your life today!
Episode Recap:
- Today we’re talking with Randi Braun, author of the bestseller “Something Major” (1:02)
- Can you tell us about your journey to where you are today? (2:16)
- Why are we moving backwards in terms of workplace equity? (7:17)
- How can we find success in a system that’s stacked against us? (11:56)
- Perfectionism does not always serve us (14:17)
- Are you feeling guilty, or are you afraid of validation? (19:04)
- Why do we struggle to set boundaries? (23:41)
- Here’s why you should remove “imposter syndrome” from your vocabulary (29:35)
- What is the productivity lie? (35:25)
- Stop saying these things! (40:32)
Resources:
- Find every episode of the Fiscal Feminist podcast
- “The Fiscal Feminist” book
- Article on “The Productivity Lie” by Blessing Adesiyan
- Something Major Website
- “Something Major: The New Playbook for Women at Work”
- Follow Randi on LinkedIn, Instagram, and TikTok
Quotes:
“The more we focus on being perfect, the less willing we are to take a chance, to throw out that creative idea, to make an ask that could actually unlock not just impact for ourselves, but impact for the people and the teams and the organizations and frankly some of the P&L that we serve.”
“Guilt is what we feel when we violate our own personal code of conduct and our values. What you’re experiencing wasn’t guilt from how I’m hearing it, it was a fear of not getting external validation or a fear of what other people will think of you.”
With so many different ways to invest and build wealth, how do you find the path that’s right for you? In this episode, Haley Kowalewski breaks down some of the basic principles you should keep in mind when building an emergency fund, saving for retirement, starting to invest, and more. Haley is the founder of Femme Financial Coaching, where she’s helping women and other marginalized groups with all things personal finance and investing. She also talks about the different ways each generation views money and work, and she shares some practical tips for finding resources you can trust on social media.
Episode Recap:
- Today we’re talking with Haley Kowalewski of Femme Financial Coaching (1:01)
- What inspired you to start this business? (2:55)
- Before you pivot, make sure you’re prepared for business and personal expenses (6:01)
- What are some barriers that stop marginalized groups from building wealth? (16:17)
- Have these foundations in place before you start investing (22:12)
- How to get started with investing (26:33)
- Should you open a taxable account? (29:25)
- How Gen Z and Millennials tend to view money and work (34:28)
- How to vet financial resources on social media (41:29)
- Can you share some client success stories? (43:55)
- Remember your future self (52:44)
- How to connect with Haley (55:56)
Resources:
- Find every episode of the Fiscal Feminist podcast
- “The Fiscal Feminist” book
- Femme Financial Coaching
- Follow Haley on Instagram and TikTok
Quotes:
“Education is the way through, because the stock market doesn’t discriminate. It doesn’t know what gender you are, what race you are, how old you are. Anyone has access to it, so that’s why it’s so important to educate people around it.”
“You can make changes a lot faster than you think you can. And if you’re thinking, ‘I don’t want to be in this same spot I’m in at this time next year financially, you might be at that point where you’re like, ‘Alright, I’m ready to make a change.’ And if you’ve tried to do it on your own and you just keep falling off, then that’s a point where you can hire a coach or get some support, because that support is out there. And there’s no shame in doing that.”
One of the best investments we can make is in our kids. Robin Taub talks with us about how to raise kids who have a healthy understanding of money, spending, and investing from her book "The Wisest Investment" which updated her bestselling book "A Parent’s Guide to Raising Money-Smart Kids."
Topics include:
- How did our parents talk to us about money, and what can we learn from them?
- Going over the statistics for financial education availability in schools, and who should teach our kids about money?
- Can you learn how to manage finances along with your kids, or what do your kids learn by watching you?
- Robin discusses the five pillars of money and age appropriateness.
- Where are kids looking for financial advice other than their parents?
- Robin's Website & Instagram
- "The Wisest Investment: Teaching Your Kids to Be Responsible, Independent and Money-Smart for Life"
- "Raising Money-Smart Kids: How to Teach Your Kids about Money and Learn a Few Things Yourself"
- The Fiscal Feminist - A Financial Wake-up Call for Women
- Fiscal Feminist Website
The podcast today is learning about the ins and outs of what it means to be a life coach, and how using the tools that life coach and podcaster Danielle McCombs has will help us to be our better authentic selves.
Topics include:
- Using unexpected experiences to your advantage.
- How do you work through the feeling that “there’s something else missing”?
- What does it mean to be a life coach and what does working with a life coach look like?
- How do you surround yourself with people who will be your ‘team’?
- Becoming a life coach and the steps and requirements involved.
- How complacency and the expectations of others affect you being authentic.
- What is the difference between therapy and life coaching?
- Danielle's Podcast with Kristy Olinger - @TheOppositeOfSmallTalk
- Danielle's Website & Instagram
- The Opposite of Small Talk Challenge! - Be sure to use code Challenge8
- The Fiscal Feminist - A Financial Wake-up Call for Women
- Kim's Website
Women have unique financial issues and concerns that they must confront over the course of their lives that differ from men’s. Many of our base truths about money are formed by our upbringing and the people in our lives. We are not born with preconceived notions about money, hence it is within our control to change our mindset, reprogram and secure our financial futures.
We'll encourage women to get uncomfortable in the short-term by asking the right money questions and taking preventative action to secure their financial futures.
Links mentioned in this episode:
- TheBahnsenGroup.com
- TheFiscalFeminist.com
Women have been largely overlooked in money conversations and you know the stats, we earn less, live longer, and so much more. We definitely get the short end of the equality stick a lot. So it’s even more important, no, make that critical, that we as women learn how to have fiscal freedom.
I'll share the must-know money lessons that every woman needs to know and holds your hand through some serious topics like divorce, prenups and postnups, and all those money topics that you’d rather hide from. My message is that you need to become the CEO of your life. Join us for this inspiring episode that feels like a fun information overload, in the best way possible, and a wild ride with Shannah Compton Game. Let’s get talkin’.
Links mentioned in this episode:
- TheBahnsenGroup.com
- TheFiscalFeminist.com
Life is always coming at us fast, and that feels especially true when you decide to write a book. You take on this huge, ambitious commitment, and suddenly a home improvement project goes sideways, a family member has a health issue, work-demands become crushing, or some other huge interruption comes along and threatens to pull you off your path. I experienced all of that and more.
Listen to my talk with Maggie Langrick writer and publisher at Wonderwell Press and host of The Selfish Gift Podcast.
You will learn:
Why women need a “financial wake-up call.” Why taking control of your finances is one of the most important forms of self-care. The five steps to achieving financial freedom. How to balance building an author platform and writing a book while working a full-time job. How to stay committed to finishing your book when the day-to-day stress of life gets overwhelming.
Links mentioned in this episode:
- TheBahnsenGroup.com
- TheFiscalFeminist.com
Topics discussed:
- Topic A
- Topic B
- Topic C
Links mentioned in this episode:
- TheBahnsenGroup.com
- TheFiscalFeminist.com
In today's talk, we discuss the complex relationships that women have with money. How we earn it, how we save it, invest it, and spend it… and those relationships can get even more complex when our personal relationships — specifically, our marriages — come to an end.
In this episode we talk about:
- How my experience as financial advisor led her to become passionate especially about finance for women
- Trying parts of my life that served as financial lessons for her
- Unrealistic expectations around primary breadwinning and motherhood
- How women can shift the conversation around money by addressing finance on the micro and macro levels
- Why women need to be intentional with career choices and realize that good is good enough
- The importance of automation in your finances
- How I advises people that feel like they are too far behind to start investing in their retirement
- Rethinking retirement norms
- Starting the financial conversation with your parents and figuring out the best financial plan for them
- The psychological toll navigating your parents’ finances can take
Let’s kick this off with an admission: We don’t have a prenup.
In today’s episode, I’ll tell you why—and why we probably should’ve gotten one.
We also talk with Kim Davis (former Wall Street attorney, present managing director at the Bahnsen Group, and founder of the Fiscal Feminist) about:
How the “stay-at-home” spouse can protect themselves financially Why the prenup agreement is like an insurance policy for your marriage What Kim thinks about joint credit cards How much to budget for a prenup …and a whole lot more.
Financial wellbeing affects every part of our life as leaders. As our guest today, Kimberlee Davis says, ignorance is not bliss. In our conversation, we talk through practical steps that will help give you the financial stability and independence to weather the ups and downs of life without living in constant fear.
We also talk about:
-The first steps that you should take to improve your financial wellbeing
-The importance of honing your negotiation skills
-How to deal with the “motherhood penalty’ that still exists in our workforce
Join The Fiscal Feminist, Kimberlee Davis, for her conversation with Coco Brown, a true visionary and role model for all women aspiring for success in their professional journey. Coco has held leadership roles including CEO, COO, President, Board Member, and advisor for Fortune 1000 companies, start-ups, and non-profits. She has delivered successful outcomes for Apple, Cisco, E-bay, and Facebook just to name a few, by accelerating multimillion-dollar growth through vision, strategy, technology, and people leadership.
Currently, she is the founder and CEO of The Athena Alliance a game-changing executive firm that helps position the top 10% of executive women for advancement and board opportunities. Coco is a change agent and is working towards transforming board composition.
You will enjoy this deep dive into Coco’s journey, vision, advice, and discussion of how to be a bold woman leader who has scaled the heights of success while juggling being the mother of 2 children.
Yours in Fiscal Sisterhood…
Links mentioned in this episode:
- TheBahnsenGroup.com
- TheFiscalFeminist.com
This week’s Fiscal Feminist podcast revisits the complex and demanding issues facing the “sandwich generation”. Many of us are “sandwiched” between the emotional and financial needs of our aging parents and the demands of raising younger children or financially supporting to some extent grown children. Add work responsibilities to the mix and it makes for a sometimes heavy load to carry. Trevor Cummings, my partner and colleague at The Bahnsen Group, interviews me on the topic focusing on the emotional, psychological, and financial demands of elderly caregiving of our loved ones and the strategy for being prepared for it so you aren’t blindsided by the impact of it. It’s an honest discussion of my journey with caregiving from the emotional toll to the financial impact.
Links mentioned in this episode:
- TheBahnsenGroup.com
- TheFiscalFeminist.com
There has been a lot of media coverage about the “Great Resignation,” the moniker that is being used to describe the economic upheaval of the pandemic and the reallocation occurring in the economy for both employers and employees. We are experiencing a disconnected employment environment resulting from the pandemic and many are reassessing their career selections by choice or necessity.
Women have been particularly affected by the upheaval from the pandemic and many have left the workforce and frequently not by choice. According to The Washington Post, in January 2020 before the pandemic, “For just the second time, women outnumbered men in the U.S. paid workforce, with their new majority buoyed by fast job growth in health care and education over the past year, as well as the tight labor market.” Progress was being made, but now women must deal with the fallout from the pandemic.
There has been some job recovery for women in 2021, with the August 2021 unemployment rate for women at 4.8%, but it has been slow progress, and women’s participation in the workforce remains well below pre-pandemic levels. According to the National Women’s Law Center September 2021 report, as of August 2021’s rate of employment for women, women will need almost 9 straight years of job gains at that rate to recover the jobs lost since February 2020!
Further, reported unemployment rates do not include people who have left the workforce entirely –these people are no longer counted as unemployed. The women’s labor participation rate of 57.4% in August 2021 remains well below the pre-pandemic participation rate of 59.2% in February 2020 and it has not been as low since December 1988!! If the women who have left the labor force since February 2020 were included in the unemployed, women’s unemployment in August 2021 would have been 6.9%.
Links mentioned in this episode:
- TheBahnsenGroup.com
- TheFiscalFeminist.com
“If you want to keep a secret, you must also hide it from yourself…” George Orwell
The Merriam-Webster Dictionary defines a “secret” as “kept from knowledge or view”, “not acknowledged” and “working with hidden aims or methods.” Essentially when we keep secrets, we don’t want others to know what we are up to, and sometimes it’s evidence of our own self-denial because we don’t want to admit to ourselves what we are actually up to!
What a tangled web we weave…
Why do we keep money secrets? Usually, because we are embarrassed about whatever the secret is, or we are trying to fly under the radar and avoid attention. According to a recent survey, 40% of us are keeping financial secrets from our friends, family, and loved ones.
What financial secret(s) are you keeping? Money is a topic that many people keep close to the vest even with those they trust the most. Whether it’s credit card debt, loans, a secret bank account, or a purchase that we don’t want to admit to, there are a plethora of reasons why people keep money secrets.
Often, we keep secrets from others in our lives because we are afraid the truth will be detrimental to our relationships, and hence to avoid conflict, we keep our actions secret. Keeping financial secrets from family, partners or loved ones puts those relationships on a fast-track to mayhem.
I believe in the eyes wide open approach when it comes to our financial lives – knowledge is power. Truth in our communications with ourselves and others enables us to be fully engaged in our financial decisions and to formulate a solid strategy that will provide us with control, independence, and clarity. Money should not have the power to ruin your relationship with yourself or others.
Links mentioned in this episode:
- TheBahnsenGroup.com
- TheFiscalFeminist.com
Today’s podcast is an interview with Maggie Langrick, CEO of Wonderwell, a hybrid publisher. Maggie’s life has been a rich tapestry of choices, unexpected events, pivots, and out-of-the box thinking. As a child actress, single mother, editor, journalist, and now successful publisher, she has quite the story to tell. Enjoy the ride and be inspired!!
Links mentioned in this episode:
- TheBahnsenGroup.com
- TheFiscalFeminist.com
In today's podcast, I interview Shana Starr, who is CEO of Bastion Elevate, a PR, Social Media, and Digital Marketing firm. Bastion Elevate is part of Bastion Collective, a global network of business and marketing strategists that creates strong, impactful, and creative campaigns for their clients.
With over 25 years of experience running successful communication agencies, Shana owned and operated a PR firm in Irvine, California for 10 years, prior to selling a majority portion of the business to Bastion Collective.
Tune in to listen to the compelling story of her journey to become a CEO, how she juggled work and family while building a successful business, and how she delivers an integrated approach to marketing for brands and businesses. Shana is a true force to be reckoned with and you won't want to miss this podcast!
Links mentioned in this episode:
- TheBahnsenGroup.com
- TheFiscalFeminist.com
Today’s podcast cannot be missed! Please tune in to this fascinating interview with Cheryl Osborn, President of CASCO Contractors, who started her business at her kitchen table in 2000 and grew the business to the 5th largest Construction TI company in Orange County, California, and the 9th largest woman-owned business in Orange County. Cheryl’s rich journey provides insight and inspiration to all, and she is a powerhouse in a male-dominated industry. We also discuss the post-Covid commercial space and what that is going to look like and the CASCO back to work plan. Join Jaime Saul Hong and me for our beyond interesting conversation with Cheryl!!
Links mentioned in this episode:
- TheBahnsenGroup.com
- TheFiscalFeminist.com
A Journey to Remember … An interview with Talya Nevo-Hacohen, Chief Investment Officer of the SABRA Healthcare REIT
Please tune in to my podcast to listen to the rich tapestry of Talya Nevo-Hacohen's very accomplished career journey from architect to an investment banker at Goldman Sachs to private equity to being Chief Investment Officer of the SABRA Health Care REIT. Talya joins me and Jaime Saul Hong, Vice President Sales at Fidelity National Title, in an authentic discussion of life choices, pivoting, fear, courage, the keys to professional growth, and the senior housing's current situation market, Talya's area of proficiency. You will be riveted!
Links mentioned in this episode:
- TheBahnsenGroup.com
- TheFiscalFeminist.com
I recorded this special podcast with Mark, my husband of one month!
As the Fiscal Feminist, I frequently speak to how our personal relationships and finance are intertwined and how best to circumnavigate this occasionally tricky area. Open and honest discussions about money and finances are a must in our personal relationships to prevent them from being harmed by financial stress and confusion.
In this podcast, Mark and I discuss his thoughts on The Fiscal Feminist platform, negotiating our cohabitation agreement/prenuptial agreement, and how we have handled the “money” discussion. Listen in to hear what my other half really thinks about it all!
Links mentioned in this episode:
- TheBahnsenGroup.com
- TheFiscalFeminist.com
Millennials have had to suffer the double whammy of the global financial crisis of 2007-2008, and now the economic repercussions of the Covid-19 pandemic. A person is referred to as a “millennial” if they were born between 1982 and 2000 (ages 20 to 38) according to the US Census Bureau. Believe it or not, some older millennials are approaching that middle-age mark of 40! As a mother of three millennial daughters, I think millennials often are unfairly maligned as selfish, entitled, and not mature adults. But they are no longer mainly college kids or recent college grads, they are professionals, parents and represent a quarter of the U.S. population.
Sources:
https://www.census.gov/newsroom/press-releases/2015/cb15-113.html
https://www.wsj.com/articles/young-americans-are-still-catching-up-from-the-last-recession-now-theres-a-new-one-11587170863
https://www.investopedia.com/insights/how-financial-crisis-affected-millennials/
https://www.pewsocialtrends.org/2012/02/09/young-underemployed-and-optimistic/
https://www.wsj.com/articles/millennials-covid-financial-crisis-fall-behind-jobless-1159681147
https://www.nbcnews.com/business/business-news/millennials-had-barely-recovered-great-recession-then-came-pandemic-n1232488
https://www.investopedia.com/insights/how-financial-crisis-affected-millennials/
Links mentioned in this episode:
- TheBahnsenGroup.com
- TheFiscalFeminist.com
Not to prematurely declare the current public health and economic emergencies over, because it’s not, but the reopening of some businesses this summer presents a good time for many of us to reflect on our finances. It’s a practice we self-reliant women should be doing all the time anyway, and now there is a special opportunity to assess and learn. With four grueling months of health scares, social distancing and financial instability, let’s look at how we did.
Specifically, there are four key pieces of our fiscal puzzle that should be analyzed in a post-mortem evaluation: retirement, budget, investments, and career. Each play a critical role in our overall strength and well-being, and each was stressed during the turmoil known as the first half of 2020. Without these four pillars of security, it is virtually impossible to provide for your family, security or simply enjoy your financial independence.
Links mentioned in this episode:
- TheBahnsenGroup.com
- TheFiscalFeminist.com
Stand up, speak out, stop apologizing and have a plan at work because nobody else is going to do it for you! It is time for all women to understand that the best advocate for them is themselves. Forget about all those anachronistic ideas about how women “should” behave that we have mentally internalized over the generations and stop letting fears, self-doubt and lack of confidence keep your goals low. Don’t fear failure and embrace the fact that success comes from failure and persistence.
Links mentioned in this episode:
- TheBahnsenGroup.com
- TheFiscalFeminist.com
We are all aware that Covid-19 caused unprecedented unemployment for all people due to the shut down and the economy is struggling to make a comeback. As I discussed in a prior blog on The She-cession, unfortunately women suffered more acutely from unemployment than men. Did the stimulus package and the CARES Act help women through this tough time or did fiscal policy actually put women at a further disadvantage?
Links mentioned in this episode:
- TheBahnsenGroup.com
- TheFiscalFeminist.com
With our busy schedules and juggling so many responsibilities, we often make some significant personal decisions that can have financial consequences that we fail to carefully consider. We can protect ourselves from unanticipated twists and turns in situations with some forethought and planning.
In the tapestry of life we regularly make decisions as to who we live with whether it is a significant other or a roommate, whether we commingle our assets with our spouses, and how we establish our credit, whether jointly or independently. These decisions are wrapped up in personal relationships and the hidden risks, though not patently obvious, should be considered. As always, an honest, open, and practical approach is the best strategy to be fulfilled personally and to protect your individual financial status.
Sources:
United States Census Bureau, 2019: https://bahnsen.co/2VWYvqj
Marriage and Cohabitation in the U.S.: https://bahnsen.co/2ZRLorh
Key findings on marriage and cohabitation in the U.S.: https://bahnsen.co/2Z85dLS
National Health Statistics Reports: First Premarital Cohabitation in the US: https://bahnsen.co/2VYfNmZ
Cohabitation Property Rights for Unmarried Couples: https://bahnsen.co/3gJNLDH
Lewitt Hackman: https://bahnsen.co/38KC1Os
Money Crashers: https://bahnsen.co/3fcW6z5
Premarital Cohabitation and Dividing Assets During your divorce: https://bahnsen.co/2VYf1q5
Common Law Marriage by State: https://bahnsen.co/2AEi6Uz
5 things all roommates need to know about renter’s insurance: https://bahnsen.co/2ZRMgw3
Commingled Property: What it is & How it will impact your divorce: https://bahnsen.co/31YnCwO
Get Married, But Keep Your Credit Separate: https://bahnsen.co/3e5VnhP
Examining the Relationship Between Financial Issues and Divorce: https://bahnsen.co/3ebuk4E
Links mentioned in this episode:
- TheBahnsenGroup.com
- TheFiscalFeminist.com
There is no real “absolute” definition of financial independence. Some people may think it means retiring at 40 but that is a very myopic view of it. Rather, I would like to define “financial independence” to mean the ability to live without financial fear during the roller coaster ride of life because you are prepared enough to deal with life’s ups and downs without going into debt, sacrificing and skimping on necessities. It is the ability to live your life as you desire within reasonable parameters, to be able to breathe. It doesn’t mean you never have to work another day in your life, but it does mean you have the freedom to pivot by quitting a job you don’t like, going back to school, starting a new business, or pursuing a new course in life without major upheaval. Freedom to choose, to have options.
Links mentioned in this episode:
- TheBahnsenGroup.com
- TheFiscalFeminist.com
The past few months have been a real roller coaster ride in the stock market. Many people are fearful of the volatility in the stock market and are irrationally driven by fear to cash out of their strategy and become less inclined to invest in the future. In a March 2020 survey, over one third of adults reported that they were less likely to invest in the stock market based on what they knew about the coronavirus. Only 12 percent of respondents said they were more likely to invest. Hmmmm…. I think these statistics demonstrate panicked and NOT prudent decision making.
Check out this week's Fiscal Feminist blogpost for more on this important topic.
Links mentioned in this episode:
- TheBahnsenGroup.com
- TheFiscalFeminist.com
Sources: Get Smarter About Money: https://www.getsmarteraboutmoney.ca/resources/covid-19-and-your-money/market-volatility-and-investor-behaviour/ Hartford Funds (charts): https://www.hartfordfunds.com/investor-insight/client-seminars/beyond-investment-illusions/reactions-to-volatility.html RBC: https://www.rbcgam.com/en/ca/learn-plan/investment-basics/understanding-the-relationship-between-volatility-and-returns/detail Capital Group: https://www.capitalgroup.com/advisor/ca/en/insights/content/articles/volatility-the-long-term-investors-unlikely-ally.html Investopedia: https://www.investopedia.com/terms/v/volatility.asp Forbes: https://www.forbes.com/sites/jamiehopkins/2019/10/30/4-ways-to-manage-sequence-of-returns-risk/#a2de07927eb9 Investopedia: https://www.investopedia.com/terms/s/sequence-risk.asp Blackrock: https://www.blackrock.com/pt/literature/investor-education/sequence-of-returns-one-pager-va-us.pdf Investopedia: https://www.investopedia.com/investing/importance-diversification/ Schwab: https://www.schwabmoneywise.com/public/moneywise/essentials/the_advantages_of_diversification US News: https://money.usnews.com/investing/investing-101/articles/why-diversification-is-important-in-inves...
As we all know, life is far from linear and sometimes things happen unexpectedly that totally disrupt our flow and require some creative thinking to address. You know the saying, “desperate times call for desperate measures.” Dipping into one’s retirement savings qualifies as a “desperate measure” and sometimes we might think there is no alternative.
Links mentioned in this episode:
- TheBahnsenGroup.com
- TheFiscalFeminist.com
The coronavirus pandemic has caused people throughout the country to suffer financially due to job losses. The Bureau of Labor Statistics shows that unemployment has risen more acutely for American women than men with an even bleaker picture for women of color. The Covid-19 crisis has highlighted the consequences of gender and racial inequities in the workforce, with women being particularly vulnerable on several fronts to the pandemic’s aftermath.
Links mentioned in this episode:
- TheBahnsenGroup.com
- TheFiscalFeminist.com
During this time of the Covid-19 pandemic with the disruption of businesses, new and different work routines, and widespread job loss, many may be re-evaluating their professional pursuits. Some may be questioning how much job security they had during the pandemic, others may be questioning whether they were fulfilled by their job now that their daily life has changed and they have had the opportunity to look at it from a different lens. In any event, settling on a career choice that is fulfilling and, also, provides financial security is often a challenge during any time.
Links mentioned in this episode:
- TheBahnsenGroup.com
- TheFiscalFeminist.com
President Trump is speaking on TV with his team discussing governmental actions that are in process, the state of testing for the virus and all other matters related to addressing the coronavirus outbreak. After an up day in the market yesterday, it is down again today at this moment. Nobody can predict the market gyrations at this time, but we do know that markets don’t like uncertainty and we do know there is a significant amount of fear and angst being felt by people due to uncertainty in strategy. Policymakers now seem to understand the gravitas of the situation, and, are moving forward with fiscal programs, monetary programs, and health initiatives. We may have to endure the situation for some time and experience the related financial pain, but this too will pass and we need to keep our faith and resolve to remain rational.
I invite you to listen to this special issue of the Fiscal Feminist for more of my insights.
Links mentioned in this episode:
- TheBahnsenGroup.com
- TheFiscalFeminist.com
Topics discussed: Many people have expressed varying opinions to me about the moniker The Fiscal Feminist focusing on the word “Feminist”, and, have asked me exactly what it is meant to represent. The word “feminist” evokes many different responses when people are asked “what is a feminist?”. Let me share with you what the word Feminist means to me in the context of The Fiscal Feminist.
Links mentioned in this episode:
- TheBahnsenGroup.com
- TheFiscalFeminist.com
Topics discussed: Everyday unexpected events can happen in all of our lives that can totally change our reality in a minute! Nobody is safe from the vagaries of unexpected events that may cause upheaval in our lives. How do we protect ourselves from the upheaval caused by the unexpected, and lessen the turmoil?? We establish an emergency fund -- which will soften the impact of a sudden crisis, and give you the space to think and react without worrying about paying for the basics of your life during a stressful time. Let's discuss why establishing an emergency fund should be an urgent priority in your life, perhaps the most important thing you can do to stave off future hardship!
Links mentioned in this episode:
- TheBahnsenGroup.com
- TheFiscalFeminist.com
This week, Kimberlee Davis covers successful strategies to saving.....
Topics discussed:
- Good Savings Habits
- Setting Realistic Goals
- Establishing an emergency fund
Links mentioned in this episode:
- TheBahnsenGroup.com
- TheFiscalFeminist.com
Topics discussed: Financial abuse is not as black and white an issue as most of us think it is. In most instances, we think of it in the context of a relationship with a romantic partner, such as a husband, domestic partner or boyfriend, and often it is exactly that. But financial abuse can also occur in circumstances where parents financially abuse their children, or elderly parents are financially abused by their children, or employers and bosses prevent an employee from questioning their salary and financial rights in the workplace.
Join me in this podcast as I discuss ways to avoid being a victim of financial abuse.
Kimberlee Davis is The Fiscal Feminist
Links mentioned in this episode:
- TheBahnsenGroup.com
- TheFiscalFeminist.com
Topics discussed: This is a special edition of The Fiscal Feminist Podcast featuring a robust discussion with David Bahnsen, Managing Partner and Chief Investment Officer of The Bahnsen Group, and Kimberlee Davis, addressing the nuances of the financial advisory landscape, what approach to portfolio construction a new investor should take, and investment strategy and resources for women to consider when planning their financial strategy.
Links mentioned in this episode:
- TheBahnsenGroup.com
- TheFiscalFeminist.com
Topics discussed:
- Your life will never be the same after a cyberattack
- The precautions you take can literally save your life
- Don't Be Lazy, Like Me
Links mentioned in this episode:
- TheBahnsenGroup.com
- TheFiscalFeminist.com
Topics discussed:
- Elder Care as A Guide To Your Care
- The "Talk" with Your Children
- Plan, Plan, and then do some more planning
Links mentioned in this episode: DividendCafe.com TheBahnsenGroup.com
A conversation with Christy L. Lewis on what you need to know about your finances before and after getting married. This Podcast is taken from Kimberlee's Women Lead Radio show The Fiscal Feminist on Connected Women of Influence.
Links mentioned in this episode: FiscalFeminist.com TheBahnsenGroup.com
Kimberlee Davis is your host of The Fiscal Feminist, a show about women and our relationship with money and finances. Kimberlee Davis is Managing Director and Partner, and the Financial Planning Director, at The Bahnsen Group, HighTower Advisors, a private wealth management firm. She specializes in personal wealth advising and oversees financial and retirement planning solutions for high net worth individuals and multi-generational families. Her proficiency also includes helping individuals transition to financial independence after life altering events such as death or divorce.
Links mentioned in this episode:
- TheBahnsenGroup.com
- TheFiscalFeminist.com