Improving financial wellness for women

The ShireWomen – Empower Events - Sponsored by DPN are held at DPN's gorgeous Cronulla office to bring together women from the local business community to share stories of empowerment as well as learn about how to navigate a better financial future. In true DPN style the office looked beautiful, as did all the details, from the food and drinks, to the music, candles and flowers.

Lifting the lid on the taboo topic of money, at our first event we heard from some brave women who shared their stories about wealth, complete with all of life’s unexpected ups and downs. At our second event I was joined by Jade Khao, Financial Planner at AON and we released our guide: 5 steps to get your finances sorted this covered fundamentals of good money management with practical steps to help with goal setting and budgeting.

Personal stories of financial wellness

At the third event in the ShireWomen Empower Series, we heard more inspiring stories. Our guest speaker Anna Cochraine detailed her personal journey, from business high-flyer to being confronted with debilitating health issues making it difficult for her to walk. She tells how she reassessed her priorities and set on an ambitious mission to train and walk the Kokoda track. Anna spoke of the need for a plan to achieve what may seem insurmountable. “The feeling of setting, working toward and achieving a goal that was personal, one that consumed my every thought, action, moment, there is something special about that,” Anna explains. 

Just as goal setting can benefit us in our professional and personal lives, we should all set financial goals. Doing so can help you to live your fullest life financially, emotionally and career wise. With adequate money we have choices and options, and, as life takes its unexpected twists choice is marvellous!

DPN's Managing Director, Sam Khalil shared a personal story about his very inspiring Grandmother mother who had overcome the worst of circumstances of being widowed early in her marriage to triumph through starting her own business and investing in property. This allowed her to educate Sam’s father, creating the opportunity for Sam's family to migrate and live in Australia. His grandmother's example and efforts have inspired Sam to ensure he and the DPN team support and empower women to build wealth. Sam also shared his insights and expertise including: the factors to consider to invest safely in property; the DPN Dual Income positively-geared property (which pays you an income to help you with your expenses) and some current research on growth areas.  

In our panel discussion, Liz shared her very personal story of divorce which saw her as the primary carer, breadwinner and sole parent of two young children on a part-time wage. Liz's smart property choices kept her afloat and enabled her additional passive income. The capital growth gained also allowed her to purchase a new home and investments to build a solid financial future. 

Michael de Haan, DPN Property Strategist talked about the challenges for women in planning their financial future. Typical barriers to investing for women are having an interrupted career history and needing a super balance of $300,000 to even see a Financial Planner. These obstacles are all too common for women with a family. We talked about alternative strategies to invest in property, such as using equity in an existing property and family pledge loans, both viable options to get started with little deposit.

Natalie Lennon, owner of 2 Sides Accounting, added value to the panel with insights for small business owners and employees on what lenders look for when assessing your application for an investment property. She talked about tax return preparation and how women can better plan for that next step.

Help to set goals

Talking to a professional about your financial situation can be daunting. In fact, many people, especially women, tend to think they are not ready to do so. The best help you can receive with money management, is a one on one session geared to your household's needs. Whether it be looking at debt reduction and building savings to get into the property market, investing in property for the first time or fast-tracking an extensive portfolio, this puts you on the right path to building wealth.

Book in a free Wealth Building Discovery Session with DPN. Valued at $500, we are offering this service free in 2018.  It’s a service designed by women especially for women and their households. We'll help you to clarify your goals and starting position. You'll walk away with some potential strategies and an action plan to move towards greater financial independence. It is suitable for the beginner drowning in credit card debt right through to the multi-property investor. Get started no matter how "unready" you are. Contact the team at DPN or email hello@dpn.com.au to learn more.

About DPN

DPN is an Australian owned business established over 20 years ago and employs around 60 people. It is our mission to help everyday people live the life they want by achieving greater financial independence. We do this by providing innovative finance, property investment and property management solutions, mentoring and education.