Ep. 394 | Why Women Need to Invest More Than Ever - Jessica Spangler

It's always exciting to have another Jessica on the show and I've got the amazing Jessica Spangler on the podcast today! Doctor by day and financial content creator by night, she has just come out with her first book called Invest Like a Girl aimed at empowering women to take control of their finances and build wealth. Because as the data shows, women are actually really, really good at investing. However, data also shows that many women are still hoarding cash instead of investing it, and this needs to change (especially since statistically we live longer than men so we need that extra money!).
In this episode, we delve into what inspired Jessica to take her finances seriously and start teaching others about it on the side, what barriers women face when it comes to financial education, earning higher incomes and taking action with their money, and some practical steps to get started right after this episode. And one of those steps could be to check out my very own investing course called Wealth Building Blueprint for Canadians.
To enter to win a copy of her book, make sure to visit jessicamoorhouse.com/contest to enter to win.
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CHAPTERS
00:00 Introduction
03:29 Guest Background
04:25 Early Life and Financial Challenges
07:07 The Impact of COVID-19 on Personal Finance
08:34 Transitioning from Pharmacy to Finance
09:59 The Importance of Financial Education
12:45 Investing for Women
13:01 The Power of Online Education and Financial Content Creation
13:53 The Shift in Personal Finance During COVID-19
14:47 The Need for Investing Education for Women
16:58 The Pinkification of Money and Gender Differences in Financial Education
18:15 Unique Financial Circumstances for Women
19:38 Breaking Down Barriers in Personal Finance Education
20:57 The Importance of Starting Small in Investing
23:03 Taking the First Step: Looking at Your Finances
23:50 Budgeting and Finding Money to Invest
24:41 Understanding Different Investment Strategies
25:56 Investment Philosophy: Index Funds and Blue Chip Stocks
27:59 Overcoming Income Disparities
30:32 Challenging Frugality Stereotypes
32:40 Empowering Women to Invest
34:51 Breaking Taboos and Having Conversations about Money
37:05 The Importance of Taking the First Step
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TAKEAWAYS
• Financial challenges can shape one's perspective and motivate them to pursue financial independence.
• The COVID-19 pandemic has increased the need for financial education and highlighted the importance of investing.
• Women face unique circumstances in personal finance, including the gender pay gap and caregiving responsibilities.
• Investing is not limited to a specific income level and can improve one's financial future.
• Starting small and taking the first step is crucial in building confidence and a strong foundation in investing. Take the first step in investing by looking at your finances and finding money to invest.
• Budget and make adjustments to redirect funds towards investing.
• Challenge the stereotype of frugality and spend money on things that bring you joy.
• Empower women to invest and have conversations about money.
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RESOURCES
📌 Buy a copy of Jessica Spangler's book "Invest Like a Girl" amzn.to/43wY1bX
📌 Enter to win a copy of her book jessicamoorhouse.com/contest
📌 Show notes & transcript jessicamoorhouse.com/394
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GET STARTED
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➡️ RESOURCE LIBRARY jessicamoorhouse.com/resources
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ABOUT ME
I'm Jessica Moorhouse, a money expert, Accredited Financial Counsellor Canada®, speaker, content creator, and host of the More Money Podcast. I'm based out of Toronto, ON, Canada and run my own business, MoorMoney Media Inc., to educate others about financial literacy. To learn more, check out my website jessicamoorhouse.com
#personalfinance #financialliteracy #money
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DISCLAIMER & DISCLOSURE
The content I produce is for education and entertainment purposes only. Nothing on this KZbin channel, my website or affiliated channels should be considered financial, investment or legal advice, or an endorsement for any type of service, product, or brand. Some links in this description may be affiliate links in which I may earn a commission at no extra cost to you. Please read my disclaimer to learn more: jessicamoorhouse.com/disclaimer/

[@ecommjess]

Thank you so much for having me, fellow Jessica!

[@jessicamoorhouse]

Omg, it was so fun having you on, thanks for being an amazing guest!

[@Pulpswo]

I couldn't post comments on your latest short for questions. How do you file the small business taxes as a gig worker? Is the tax being paid when you do your taxes? How do you write off things that contribute towards the small business?

[@jessicamoorhouse]

Great question and you just do it one your personal income tax return. The only other tax return that you could file is if your business is incorporated. So if you're a gig worker, that means you're self-employed (a sole proprietor) and you just need to keep track of income and business expenses that you can use for deductions, then include that info in your personal tax return.