Founder of Ladies Finance Club
Founder of Ladies Finance Club
Do you like money? Who doesn’t? But with the rising cost of living, it’s time to take a serious look at where yours is going and how best to save or even better, grow it! One young lady who we all have a lot to learn from is Molly Benjamin, founder of Ladies Finance Club. So you’ve read Rich Dad Poor Dad and the Barefoot Investor and still can’t make sense of it? Ladies Finance Club is here to help you in whatever format works for you. We found out a bit more about Molly ahead of her nationwide roadshow, upcoming book (Girls Just Wanna Have Funds!) and what exactly she loves about the Gold Coast.
Tell us a bit about yourself.
I grew up in the hinterland of the Gold Coast in Mudgeeraba surrounded by animals, as my parents ran the local veterinarian and we always had a range of different animals (including a wallaby for a short period of time). I attended All Saints Anglican School with my twin sister and older sister and after doing uni, I moved to London where I spent six years working in the finance sector. While working there I noticed that many of the women I worked with and many of my girlfriends (including myself!) were all pretty bad with money, yet guys at the same age were buying properties. So I started a business! Haha that was the short version!
What do you love about the Gold Coast?
The fact that you can be at the beach and then in the tropical rainforest in less than 30mins.
For those who aren’t familiar with ‘Ladies Finance Club’, can you please explain what it is?
Ladies Finance Club is all about helping women take back control of their finances and grow their wealth. We run events, online masterclasses, courses and have an online club with hundreds of women across all areas of Australia wanting to get fierce with their finances. We work with the best experts in Australia to breakdown and teach women about investing, property, budgeting, saving and getting out of debt!
How did the concept of ‘Ladies Finance Club’ come about?
Massive confession, I was shocking with money and was consulting for a bank in the UK in comms and events. I noticed many of the women I worked with and my girlfriends were all a bit #clueless when it came to investing, superannuation and spending, so I started running events in my living room with my galpals. We would invite someone over to talk to us about our finances and boom LFC was born. Since then, we have grown (very quickly) and had over 25,000 women through an event, webinar, masterclass or course since we launched in Australia in 2019.
Why is it so important to empower women to take control of their finances?
Well money and women stats are a bit grim. In Australia women live longer, earn less (yes there’s still a pay gap), which means women are retiring on less and have less control of their futures. A horrifying stat in Australia is that one of the largest growing demographics of homelessnessn is single women over the age of 55. I don’t want that to be the reality for the women in my life. With the cost of living going up and money in the bank account not doing much, we must look for other ways to grow our money and investing is a great way to do that! No one wants to retire into poverty, we want to be cruising the Med with our galpals! Investing isn’t just for men, or for people who are good at math, investing is for everyone! If you can do basic grade 3 math and if you can shop online – you can definitely invest! Check out our super simple course here.
What is your greatest achievement to date?
Last year I was awarded the Women in Finance award for Financial Wellbeing Program of the Year in Australia and that was a very proud moment! I also finished my book which will be out in Feb 2023 – Girls Just Wanna Have Funds!
If you could give anyone a bit of advice, what would it be?
Build an emergency fund (or as we like to call them OMG funds) – have 3 months’ worth of cash sitting in a spare bank account in case of an emergency! This is the first step to creating a strong financial foundation!
What are you most looking forward to in the next 12 months?
We are just about to embark on a nationwide roadshow including coming to the Gold Coast (yay) in October and November. And also my book is coming out next year so I can’t wait for that!
What are your Gold Coast favourites…
Café/Coffee spot: Tarte in Burleigh
Restaurant: Locally in Mudgeeraba my family and I love Wine Barrel and I am also a huge fan of Rick Shores -it’s definitely our special occasion place – although when I was a kid where The Tropic is now used to be a buffet called Choices and I loved it haha showing my age!
Bar or place for a drink: Burleigh Pavillion – cant beat a water view
Beach: Burleigh it’s the one I grew up with, I love the nature walk and love running (or attempting to run it), clearly I am very biased here towards Burleigh haha!
How do you choose to spend your weekends?
I’m away from the Gold Coast a lot with work so it’s great to hang out with the family at home and our adorable dogs. I love popping up to Harbour Town for a bargain, playing squash in Nerang, catching up with Mum for Yum Cha in Robina Town Centre and of course hanging out at Burleigh!