SheMoney Newsletter
A financial newsletter with
a gender lens.
April ‘24
Happy 90th Birthday Gloria Steinem!
Gloria Steinem, a woman most often described as a feminist icon, turned 90 on March 25th, 2024. To mark this momentous occasion, a birthday celebration was hosted at the Ford Foundation in New York City, and I was beyond honored to be one of the people in attendance to celebrate Gloria and her incredible life. As I watched her take in the words of friends and colleagues throughout the night with the biggest smile on her face, I smiled too. I smiled not just on the outside, but within the deepest parts of my being. While preparing to travel from Utah for this special occasion, I kept recalling all of the experiences I have had with Gloria over the past 25 years. And in doing so, I realized that she has been with me, been a presence both physically and mentally, for so many of my major life events. In many ways, she has shaped the course of my professional journey, as she was the feminist who significantly shaped my feminism, and more specifically, my financial feminism. So, in honor of her 90th birthday, I want to share that story.
March ‘24
Are Women Our Economy's Financial Superheroes?
It’s March, which means we’re celebrating Women’s History Month here at SheMoney. March is a month set aside to honor women’s history and contributions, and I always love the content that is shared during this month, especially the research. Long-time readers of SheMoney will know that March is when I usually publish my annual list (or addendum to previous year’s lists) of the Top Reports To Support Gender Lens Investing, Giving, and Action. My obsession with collecting and amplifying research began in 1999 when Goldman Sachs published their seminal report, Womenomics: Buy The Female Economy. It was revolutionary, as it was one of the first reports that was produced by a corporate entity to talk about the financial power of women.
February ‘24
The Journey of Allyship
One of my goals for 2024 is to spend more time with men, and more specifically, with men in a workplace and leadership context. Why? Because the mission of SheMoney is to support women+ on their journey to financial wellness and advancement. A big part of this mission is to focus on women, and to equip them with the knowledge and community support to help them succeed. However, there is another important part to this work and that part is all about engaging men. I know, in my head and my heart, that there are many good men out there who already are inclusive leaders. They not only understand the intricacies of their roles as leaders, but also wholeheartedly embrace the complexities of their roles in the contemporary workplace. They understand that being the best leaders they can be will ensure that their companies thrive in the short and long term.
January ‘24
The Psychology of Money
Happy New Year! I want to take this moment to thank you for subscribing to SheMoney, and I am sending you all of my best wishes for health and happiness in the coming year. In that vein, here is what I know for sure: money plays a big role in our overall health and happiness. How much money you have certainly is a factor, but just as important is your ability to earn, manage, have agency over, and engage with your financial resources. Financial wellness plays a much bigger role in our health and wellbeing than many of us realize, and that is why right now, this minute, today, this year, I invite you to set an intention about you and your money. To help you with this, I’m offering one up as an example:
This year, I am committed to taking action to advance my financial wellness. I am committed to evaluating my thinking when it comes to money, making more informed decisions around money, and working towards building a resilient financial foundation for a secure and fulfilling future.
December ‘23
2023 SheMoney Year in Review
What a year! 2023 was my 15th year of writing about money, with a gender-lens, and it was a transformational one for me, as SheMoney has become so much more than a newsletter. It is now an events, content, and consulting company, dedicated to supporting women+ on their journey to financial wellness and agency. And as amazing as this past year has been, 2024 is going to be even bigger, because not only will we be launching both a podcast and a digital learning experience, but in 2024, we will also be hosting the inaugural SheMoney Summit. After years of designing, consulting, and curating money events and experiences for others, I am finally pouring all of my learnings and wishes into our own events. And trust me, you do not want to miss out on being at the gathering that sparks the SheMoney Movement! More details about the SheMoney Summit will be announced soon. Sign up on sheplace.com to join our mailing list for updates and feel free to message me here on LinkedIn.
November ‘23
Who runs the... ECONOMY?
What a monumental year it has been for women in the entertainment industry, with luminaries like Beyoncé and Taylor Swift leading the way. Most recently, Taylor Swift achieved a staggering milestone, solidifying her status as a trailblazer at the age of 33 by surpassing a net worth of over $1 billion. What makes this achievement truly exceptional is that she stands as the "first musician to attain such heights solely through her exceptional music and live performances." Even more astonishing, her fortune has skyrocketed from $360 million in just a few months since June when she ranked 34th among America's wealthiest self-made women, according to Forbes.
October ‘23
Money and Love: An Intelligent Roadmap for Life’s Biggest Decisions
I think about the intersection of love and money a lot. “And” being the operative word in that sentence. As someone who pays attention to the cultural messages around money, far too often I hear sentiments along the lines of: “Money and love just don’t go together”, “When it comes to love, money should not matter”, or “If you just love each other, the money stuff will work itself out”. While it is (thankfully!) no longer the dominant message for women that your (assumed to be male) life partner is responsible for all of the money decisions you may face as a couple, it’s important to remember that generations of women were raised this way. On the flip side, the dominant social messages around men and money still typically revolve around being a provider and taking care of your wife and kids, financially and otherwise. Let me be clear, these messages are dated, heteronormative, and don’t support any of us when it comes to navigating our individual, and if true for you, coupled journey to financial agency and wellness. When it comes to love and money, my belief is that most of us could benefit from an upgrade of our navigation skills around this topic. Which is why when I encountered a new book on this subject by an author I recognized, I was quick to reach out to her.
September ‘23
The Trauma of Money
Financial Trauma. I want you to take a moment and ask yourself if you have ever heard those two words put together? Personally, I hadn’t. At least, not until I learned about the work of Trauma of Money™ co-founder, Chantel Chapman. Financial abuse? Yes. In fact, I wrote a whole piece about it. But, financial trauma? No. Never. However, once I heard about it, I jumped onto the Trauma of Money™ (TOM) website, because I could not wait to set up a call with Chantel and sign up for the course. While I actively dislike words like game-changer, I am going to use it here anyway, and with enthusiasm. The work of Trauma of Money™ is a game-changer! Why do I think so? Read on for a conversation with Chantel Chapman.
August ‘23
Black Owned Banks and Why They Matter: A Conversation with Ashley Bell
In January, I had the honor of attending an event that showcased the history of Black-owned banks in America. A history of which I must admit I was woefully uninformed. The guest speakers were Dr. Bernice King and Ashley Bell. Dr. King is of course the daughter of Martin Luther King Jr, and she is a lawyer, minister, activist, and businesswoman. Mr. Bell, also an accomplished lawyer, has a long history in the financial services sector, including serving as the General Counsel for the National Black Bank Foundation and the $250 million Black Bank Fund. There are likely no better two people to provide such an important history lesson, not to mention a more current framing of the importance of having Black-owned financial institutions. As it turns out, their visit will likely be the first of many to Utah, as it was recently announced Utah will soon be home to the country’s 17th Black-owned bank, Redemption Bank. When this acquisition closes, it will mark the first time Black investors have bought a non-minority-owned bank in the United States, although this deal must still get state and federal regulatory approval. The CEO will be Mr. Bell, and Dr. King will serve as the Senior Vice President of Corporate Strategies and Alliances. Before I jump into some interview questions with Mr. Bell about this acquisition and what it means, allow me to bring you up to speed on some important history that is far from common knowledge.
July ‘23
The Cost of Gender Bias
There is a well-known saying that goes something like this: “Intelligence, creativity, and talent are pretty evenly distributed across the human race, but opportunity is not.” I first heard this phrase a long time ago, and since then it has become something of a mantra for me. So much so that I have made it my mission to try and open the doors of opportunity for people, mainly women, who are obviously talented and have great ideas, but for whom the doors of opportunity are closed or barely open. This is due to a multitude of factors, including gender bias, and if just reading those two words makes you want to move on to reading something else, I understand. Trust me when I say that I am sick of writing about gender bias. I sometimes wonder what I might have gone on to do in my life if I didn’t care so damn much about gender bias and doing whatever I can to eliminate it. But friends, we are not there yet. Not even close. And every single time I hear yet another story about a woman who almost gave up on her dream; a dream that could quite literally save lives, because of bias, I feel called to write another article about it. In this case, that woman is Rebekah Gee, and you will read her story about starting her company, Nest Health, below.
June ‘23
Need Money to Start or Grow Your Business?
Who needs money to start and grow your business? The answer of course is everyone! Everyone who starts a business needs financial resources to do so, whether it be your own or someone else's. How often have you heard that small business is the backbone of the American economy? How many of you have a dream of starting a business and growing it to a million dollar + company? There is a reason that Shark Tank is one of the most popular and long-lasting TV shows. We are a country that loves entrepreneurship and proudly sells the idea that America is a place where, if you have a great idea and put in the work, you can succeed! But, is that true?
Check out the funding resource guide at www.shemoney.com/fundingresources and read more about this important topic in this month’s SheMoney newsletter.
May ‘23
Financing Fertility
The idea of writing a piece on the finances of fertility was not on my radar map, but then three things happened. One, CBS news, which I watch most mornings, recently ran a three part series called “Facing Fertility” that caught my attention. Two, I attended an investment conference early last month that included an entire session dedicated to fertility as an investment thesis. The session speakers were fund managers who are investing in companies that are providing solutions to make fertility services more safe, effective, affordable, and accessible, and their presentation included a slide that mapped out the ecosystem for fertility related services. To say that it was big and complex would be an understatement. And finally, three, I was writing about one of our money moves, saving, and I wondered if saving for fertility related reasons should be something to consider. The fund managers had outlined the cost of accessing fertility services, and I thought to myself, most people would not budget for that. Therefore, given that I always dedicate my May newsletters to motherhood, I thought now would be the opportune time to write about this important topic: financing fertility.
April ‘23
Happy Financial Literacy Month! A Look At Financial Health in America
Happy Money Month! Well, technically April is called Financial Literacy Month, but personally, I think Money Month has a much better ring to it. Whatever you choose to call it, April is the month to talk about money in the United States, because in 2003, the United States Senate passed a resolution officially designating April as Financial Literacy Month. The goal was to raise public awareness of the importance of both financial literacy and maintaining smart money management habits. Therefore, this month will be filled with posts, articles, and financial tips by all of your favorite financial writers, influencers, and experts. And this is a great thing, because I have yet to meet anyone who is doing everything they should be doing with respect to managing their financial resources, including me! So making April your financial check-up month is a HECK YES from me. (Thanks to Liza Donnelly for the original drawing.)
March ‘23
How to Advance Gender Equity? Chat GPT has answers.
Tomorrow is International Women’s Day (IWD). It is celebrated annually on March 8th to recognize the social, economic, cultural, and political achievements of women and to raise awareness about the ongoing struggles for gender equality. I will once again honor this day by releasing my annual list of best reports to support gender focused investing, giving and action. This year’s round up includes just over 70 studies that will round up our previous years lists. … add the links here. Taken together you will find nearly 1000 reports that offer compelling data to support the conclusion that we still have a very long way to go on this road to gender equality. For this year I focussed on finding reports that speak to women’s wealth, economic clout and gender impact investing. Though it is tough for me to pick a favorite, if I had to choose one it would be “The Pathway to Inclusive Investment” produced by BNY Mellon Investment Management. This study makes a powerful case for closing the gender investment gap.
February ‘23
The Science of Economic Opportunity
I have been thinking a lot about capital. All kinds of capital. In fact, if I had a list of favorite words, “capital” would be near the top, because it is such a big and important word, especially when paired with other words like financial, human, and social. It covers a lot of ground and I dig it. That’s why I went searching for a great definition of capital when I sat down to write this newsletter and subsequently came across this one:
Capital is a broad term that can describe anything that confers value or benefit to its owners, such as a factory and its machinery, intellectual property like patents, or the financial assets of a business or an individual.
January ‘23
A SheMoney Review of 2022
Big picture: it was quite the year from a financial perspective. Below you will find a quick review of 2022 in the context of our 7 Money Moves Framework: invest, spend, borrow, save, give, earn and protect. If you are looking for a lot of uplifting news, sorry, you might have to read something else. It seems like my most used saying has become “it is what it is”, which is not necessarily a bad way to start the year when you think about your finances. Taking stock, knowing where you are, and thinking ahead to what the year might have in store for you is a good thing. And, if YOU had a great year financially, congratulations! And “great” does not only mean more money, it could mean that you got a few things off your financial to do list, did some planning, and have been more mindful of your financial behaviors that can all add up to create a more prosperous future. Though I am not big on setting New Year’s resolutions, I am big on setting New Year’s intentions. And, I am still digging on this quote I shared in my last newsletter.
December ‘22
7 Money Moves to Dance Your Way to Financial Wellness
I don’t know about you, but I can’t believe we are in the final month of the year. And what a year it has been! As a writer in the financial arena and an investor, holy guacamole! Inflation, continued supply chain challenges, slowing economic growth, labor market craziness, rising interest rates, and high profile implosions in cryptocurrency, just to name a few factors, have all led to wild fluctuations in the markets and a whole lot of uncertainty about the future all around. I can only hope that 2023 has better things in store for the global economy, including a path towards greater stability. However, one thing that I know for sure is that having financial wellness is as important as ever! (this is a long newsletter... make it to the bottom for a fun reveal video)
November ‘22
How Brené Brown Helped Me Launch SheMoney
As I hit publish on this newsletter, issue #28 of SheMoney and nearly 900 articles* over the past 14 years, I am going to celebrate by going dancing. Literally. Tomorrow night I will be launching Spend., the first programmatic offering of SheMoney, at the Utah Museum of Contemporary Art. This gathering will bring together 70 Utah-based women+ business owners, their guests, our sponsors, and many more to celebrate the financial power of women+. SheMoney has become more than a newsletter. I’m proud to say that it is now a content platform, product line and consulting service dedicated to women+, money, and financial equity. And it has taken overcoming a lot of fear to get to this point, so, heck yes, it is time to dance.
October ‘22
The Journey to Financial Wellbeing
I recently took a trip to Barnes and Nobles with the intention of spending my afternoon in the money and personal finance section. I have been collecting these kinds of books for over 30 years, starting when I was a finance student at the University of British Columbia. Back then it was mostly economic theory and hard core finance books, mixed in with a couple of classic titles like Extraordinary Popular Delusions and the Madness of Crowds by Charles Mackay and Reminiscences of a Stock Operator by Edwin Lefèvre. The former were required in order to have a career in finance, while the latter were intended to stretch my understanding of financial markets and systems.
September ‘22
Investing in Web3: A Convo with Julia Lipton
This article has been in the works for a long, long time. If you are a regular subscriber to SheMoney, you will know that I have yet to write about web3. Why? The answer is simple. I didn't know where to start. My journey into this realm from an education and investment perspective is actually quite new. It has only been over the past couple of years that I have started to read more articles and books on web3, seek out experts, join DAOs, buy cryptocurrencies in some form, and/or invest in funds that define themselves as web3 investors. All that said, I have yet to mint an NFT or own a wallet, hot or cold. And if at this point you’re wondering what the heck I am talking about, don’t worry. This article is for YOU.
August ‘22
What If Lehman Brothers Had Been Lehman Sisters? Revisited.
In the immediate aftermath of the Great Recession of 2008, a theory was put forward by award-winning journalist and author Nicolas Kristof. What if Lehman Brothers had been Lehman Sisters? He opined, with others later joining in, that the financial meltdown of 2008 might never have happened if there had been more women in decision making roles in the world’s financial institutions. Quite a bold statement. And as you can imagine, his theory was met with skepticism, push-back, and outright denial. I happened to share that theory, and was working on a research paper that asked a similar question. Why so few women in decision making roles in money management?
July ‘22
Inflation and The PINK Tax
Inflation. It’s a word you’re likely hearing a lot these days. This is because inflation is currently running rampant, and it’s the driving force behind the recent increases in interest rates. Inflation itself is a broad term, usually used to describe a decrease in the purchasing power of money as the prices of goods and services go up. In the United States, headline inflation rates reached almost 9% in May, which is the highest we have seen in a long time. That said, it feels even higher to me, especially when you fill up your tank with gas, go grocery shopping, or purchase your favorite mascara. If you can even find it that is. Bottom line is that stuff costs a lot more now than a year ago, and while it has always cost more to be a woman in this world, we are getting hit even harder during these times of high inflation. Don’t believe me? Then it’s time to talk about the pink tax.
June ‘22
What If Women Invented Venture Capital?
I have to admit, this article was a hard one to write. The intention, in honor of the celebration of Earth Day in April, was to write a piece about investing for positive environmental impact. In other words, investing in a way where seeking a positive financial return does not come at the expense of harming our planet. This is where the hard part comes in. To date, the extent of my personal commitment to investing for positive environmental impact has been limited at best. It’s mostly focused on a few of the ‘nots’, such as not directly purchasing oil and gas stocks. But honestly, that is about it. So why haven’t I done better?
May 22’
The Price of Motherhood: My Goldman Sachs Story of Social Capital
The year was 1996 and I had just been made a Partner at Goldman Sachs in New York City. My husband, Greg, was made a Partner that year as well, making us the first Goldman couple to make partner at the same time. I also became the first female trader and youngest woman to achieve this milestone. To the best of my knowledge, I still hold that record 25 years later. I was 32 at the time, and among my partner class, only two of us were women. For additional context, prior to 1996, only nine women had been made a Partner since Goldman’s founding in 1869.* And here is another kicker. I was expecting my first child when I got that life-changing call about my promotion.
April ‘22
Every Day Should Be Earth Day
I have to admit, this article was a hard one to write. The intention, in honor of the celebration of Earth Day in April, was to write a piece about investing for positive environmental impact. In other words, investing in a way where seeking a positive financial return does not come at the expense of harming our planet. This is where the hard part comes in. To date, the extent of my personal commitment to investing for positive environmental impact has been limited at best. It’s mostly focused on a few of the ‘nots’, such as not directly purchasing oil and gas stocks. But honestly, that is about it. So why haven’t I done better?
March 22’
A Look Back at the History of Women and Money
Once upon a time, men created money…
Of course, it was actually a lot more complicated than that. For starters, humans got along just fine without money for tens of thousands of years. Instead, goods and services were bartered according to their perceived value. This system was eventually condensed down to a few items that were easily tradable, such as salt, spices, flint, tools, and animal pelts. These became the first known currencies of trade.
February 22’
The Transformative Power of Social Capital
I am pleased to introduce you to Claude Grunitzky, the CEO and Managing Partner of The Equity Alliance. The Equity Alliance was founded in 2021 to invest in diverse, emerging venture capital fund managers, with a focus on managers of color and women. They seek to democratize access to capital, and expand opportunities to partner with investors and entrepreneurs who would otherwise remain outside of our collective field of vision. If anyone might have the answer to my question, it would be him.
January ‘22
Investing in Human Flourishing
When it comes to human flourishing, there are many tools, protocols, and digital therapeutics that are available to help us along the way. One of the reasons these resources exist in the world is because there are inspired investors who are tracking the science around the positive impact of contemplative practices. These investors have then supported the founders, and thereby the companies, that bring this science to life. In this first newsletter of SheMoney 2022, I want to highlight two investors who have developed and implemented an investment thesis that is truly changing lives for the better.
A Year In Review / SheMoney 2021
I am ending the year reading about NFTs, DAOs, blockchain, and I have to say my mind is on fire. I did invest in my first blockchain focused fund of funds this year Accolade Partners, and I have committed to a similar focused fund run by an awesome woman. So far I own no crypto, have no hot or cold wallets, but it's going to happen soon. The best way to learn about new things is to commit. Not sure what the hay doodle I am talking about? No problem. You are not alone, and I'll bring my learnings here.
December ‘21
A Holiday Gift Giving Playbook
The fact of the matter is that most of us are over-consumers, meaning we buy and own more than we need. And during the holiday season, we likely buy presents for others who are also over-consumers, and who also don't need more stuff. All of which is incredibly damaging to our environment as well as our bank accounts. That being said, if we stop over buying things, our economy will grind to a halt, good businesses will go under, and people will financially suffer. Our economy relies on over-consumption to grow.
November ‘21
Does Talking About Money Make You Uncomfortable?
So what was the difficult conversation about money that I most needed to have? For me, that difficult conversation revolved around “What if?” As in, what if I die prematurely? What would happen then? I needed to have that conversation with my loved ones, because talking about the financial implications of your death is one of the most important conversations we all simply must have.
October ‘21
11 Steps to Becoming A Financial Superhero
A financial superhero is financially fluent. By this I mean she has a basic mastery of the role that money plays in our world. She knows what financial products are and do, and she knows how to budget, spend wisely, save, invest, protect her assets, and give philanthropically. Her knowledge extends in to the emerging, and hugely important, areas of cryptocurrency and blockchain! And not only does she know what to do, but she actually does it.
September ‘21
What's Your Money Story?
For the first anniversary of the SheInvests newsletter, I am changing the name to SheMoney. I want to broaden the conversation beyond just investing, because money is so much more than investment capital. Importantly, SheMoney will continue to employ a gender lens, because as a woman and a financial feminist, my primary goal is to help other women on their money journeys.
August ‘21
Financial Feminism: Invest, Give, Spend
There are countless ways that we can use our financial resources in alignment with our values in the buckets of spending, giving, and investing. And when we do so to not only advance the economic well-being of ourselves as women and to also advance the economic well-being of other women, I call that financial feminism.
July ‘21
#FreeBritney, Financial Abuse, and Power-To
This is a story about Ms. Spears, but it is so much bigger than just one woman. It is a story about extreme financial abuse, and this form of mistreatment is common and rampant. I know it is because women talk to me about it all the time, but in wider conversation, it is extremely under-discussed. This is also a story that invites every single one of us to think about our relationship to our money, and how we may, or may not, have agency over it.
June ‘21
WTF? Invest in Women and BIPOC Founders, now.
WTF? In our family it means, what the fudge? That said, the other meaning is appropriate too. Really appropriate. The above drawing, courtesy of my ongoing collaboration with the incredible Liza Donnelly, shows the percentage of venture capital dollars, represented by Cheerios, going to male founders versus female founders.
May ‘21
Melinda+Laurene+MacKenzie We Are The Women We Have Been Waiting For
I don't generally spend time speculating about people’s private lives, but I do spend time reading about people's public lives. Specifically, I have been tracking the public lives of not only Melinda French Gates, but also Laurene Powell Jobs, and more recently, MacKenzie Scott as well. And this fantastic article was written by Kara Swisher in the fall of 2020, provocatively titled "Move aside Mr. Trump: These women have more money and better ideas", got me thinking about these three women together.
April ‘21
Sistering Up: But first, canapé anyone?
It turns out that the word sistering is used primarily as a construction term, and at its most basic, it means to make stronger. Jess described it like this: when you are constructing a building and the frame or support system is proven to be not strong enough, you sister (add) additional material to make it stronger. We are sistering up in acknowledgment that there are still huge inequities and power structures that exist, and which result in gender-related disparities.
March ‘21
Financial Activism
I am all about how you can use your financial resources (what you spend/invest/give) in alignment with your vision and values to create positive change. I call it financial activism. Every single financial transaction we make every single day is a transfer of power. From the clothes you buy to the food you eat, to the place where you get your morning coffee. Every single time you exchange money for goods or services, you are leveraging your power as a consumer, and that leverage can be used for good.
February ‘21
You Need to Know About SheEO!
To say that SheEO is an innovative organization would be an understatement. Financial innovation is at the heart of everything they do. They are disrupting systems both literally and more figuratively. When it comes to traditional investment, SheEO is forcing a collective shift in thinking, and forcing Activators to re-examine what actually matters when making decisions.
January ‘21
For The First Time EVER - A Woman Holds The Most Senior Financial Position in the United States of America
The Treasure Secretary oversees the Department of the Treasury and acts as the principal advisor to both the President and the Cabinet on most economic and financial issues. In short, the TS is the Chief Financial Officer (CFO) for the Federal Government. Or otherwise put, the CFO for the American people!
December ‘20
Who are the Wonder Women of Finance and Investing?
I also love everything Wonder Woman represents. Compassion, justice, love, truth, destiny, belief, faith. Everything the world needs more of right now. Thankfully, there are countless real-life wonder women out there, in every sector, who are doing their best to change this world for the better. Today, in this final newsletter of the year, I want to bring to you some of the wonder women in finance and investing.
November ‘20
Data. Money. Power. Cheerios. Change.
It is a well-known fact that venture capital funding directed towards women and/or people of color was already minuscule and remains one of the highest and most stubborn glass ceilings in the finance and business world. The high point came last year (2019) when female founders received 2.8% of funding dollars in the US in 2019.
October ‘20
Investing for Racial Equity
The past couple of months have witnessed a global reckoning around issues of racial and ethnic justice, and thankfully, we're seeing this reckoning extend to the financial sector as well. Specifically, more people are calling for equity on many fronts, not just gender.
September ‘20
My Story and Announcing SmartPurse
Welcome to SheInvests [SheMoney], a monthly newsletter on women, money, and investing. I have been thinking about starting this endeavor for a while now, ever since I hit a professional reset two years ago to refocus my time and energy from philanthropic interests to investing.