Written by: Janet Xuccoa
Cheshire Publishing Limited
Reviewed by: Jo Lucre
Women & Money: Mastering the Struggle can be overly convoluted in parts and with each turn of phrase I’m reminded of reading university textbooks. Though dense and heavy, it is a solid and uncompromising take on all matters financial, the creation of wealth, and the considerations wealth-building requires. Xuccoa knows her subject matter extremely well and uses case studies to help educate. The successes and pitfalls experienced by other women help to personalise circumstances that are relatable.
There’s her simple recommendations and then there’s the complex, but a favourite quick win is her advice to use cash instead of EFTPOS. It’s all too easy to imagine dollars and cents exist in a seemingly endless flow of readily available finance at the sound of plastic being swiped mercilessly through a machine.
Though the title may suggest otherwise, Women & Money is not heavily accented with the woes of women, distinctly disadvantaged by default of their gender. I was able to appreciate where gender may make a difference because of this. Xuccoa’s chapter on Building Today for Tomorrow highlights two of the biggest fears women have: they won’t have enough money to take care of their immediate needs and they’ll be stony broke in their retirement. A sobering thought indeed.
Xuccoa recognises the part emotions play in guiding financial decisions and is encouraging when she speaks to gender differences in investing. Women, she says, are more security-oriented and likely to seek steady returns rather than exceptionally high ones. This leads to them making sound investment choices over time.
Women & Money is about adopting a ‘whole-life’ approach to money and wealth. Taking control and not leaving it to chance or another individual to determine your financial goals and ultimately your financial wellbeing. Whether it’s knowledge or steps to start your own business that you desire, Women & Money transverses it all. By recognising your own habits, educating yourself, and getting on top of cash flow management, anything is possible.