Georgia Ridler of Performance Potential has not only worked with the Australian swim team but has helped a whole host of female athletes and corporate executives unlock their potential to perform at an elite level both in sport and in business. So naturally I wanted to see if we could take the same approach to unlocking our financial potential.
In this interview, Georgia really dives deep into her experience and shares her advice on being your best financial self!
Women and money has been one of the most complex conversations of our time – are we doing it wrong? Is our messaging too male-focused? Is it generational? Is it societal pressures? What do you think is contributing to women’s (generally) poor relationship with money?
Well, I think there are many environmental and societal factors, however if we focus on everyone else and don’t take responsibility for ourselves then we are just flipping around in thongs. First and foremost, I think we are doing it wrong because we feel the need to do it on our own. I think through the feminist movement we have potentially promoted that women can “do it on their own!”. Now, of course we can do lots of things on our own, but our strength is in collaboration and community, not competitiveness and isolation. So, why don’t we collaborate more often? I think it comes down to our fear of what others will think. What will they say? What if I ask a dumb question? What if they laugh? This is where you need to create your trusted team. Your team of female crusaders who will lift you up, laugh with you, learn with you and want you to win at the game of life. So who is in your team? What strength do they bring? And where are your gaps?
In today’s digital age of social media, email-marketing and targeted advertising, we have all fallen victim to the throes of financial “comparison” – “why do they have that, and I don’t?”, “but I want to go on a European holiday…” etc etc – and I am of the opinion that this isn’t isolated to teenagers, or young women but women of all ages. How do we deal with the unhealthy demon of comparison?
I’m going to use shoes as the analogy here – You see if we truly want to compare then we need to put the other persons shoes on. I bet, if you truly put their social media shoes on you might see that what once looked like hot red stilettos are in fact makeshift gumboots that have been painted, re-shaped and photoshopped. They are most likely uncomfortable on some days and comfortable on others. They most likely come with smelly socks and clean socks, and they certainly don’t feel good for all occasions. You see no one shares the truth on social media. Its original purpose was not for people to connect, but for adverting companies to build a platform for comparison, imperfection and desire. Every time we fall victim to social media, they win! Let’s stand united and not let them win!
At Fearless Female Traders we talk a lot about the psychology of money and understanding our individual money stories. I have been very open about my money story and its link to my childhood and how my parents managed their money, do you think this is true? How do we break the cycle if our family money history isn’t a great one?
You know that feeling when you take off a tight pair of heels that you have been wearing all day and you feel yourself sigh?!?! Ahhhhhhh! This is what happens to us mentally and physically when we choose to not continue following in the footsteps of our history. The problem is, we get comfortable with what is familiar, even to the detriment of our own health and success. So how do we make this choice? At Women’s Potential we encourage women to POP – Pause, Own & Project. That is, take the time to Pause (by yourself, with a friend or a coach), Own your story (sharing it aloud with someone is best) and then Project out 5 years and brainstorm what life will look like. This is the choice point. Do you choose to continue along your current trajectory or create a new path? What would the new path look like? And who will walk beside you as you tread the new path?
When you first enter a relationship, there are a lot of opinions on when you should combine your money and if you should do it at all. Once you are living together it escalates into the budget chats and in some cases, can even end a relationship. What are some of your tips in talking about money with your partner?
This is a great question! You see as a single mum, my mum raised me to be independent and not rely on others. So, when my boyfriend (now husband) proposed to me and we became engaged I really struggled at first. He came from a non-divorced family where money was a joint matter and couldn’t comprehend my thinking. Thankfully, we did some relationship enrichment counselling and I learned that my fiancé wanted us to pool our money as he felt we were choosing to become a “we” not a “me + me”. To be honest, I took a few months to come around to this, but at the end of the day I wanted to put the Stilettos on and walk into this relationship wholeheartedly. We had been seeing each other for 7 years and I felt if I couldn’t trust him with my money now, why would I be choosing to marry him. Well, it was the best decision we made. We pooled our money, we talked about our goals (financial & material), we created small personal spending accounts which sat off our joint account and we got on with living! So, am I saying you must combine finances? No. What I am saying is, if you are in a serious relationship then you need to have these conversations (money, goals, parenting, etc) before you put on the ring!
If you would like to contact Georgia (and I strongly suggest you do), you can reach her at:
Email: [email protected]
Phone: 0414 377 998
Fearless Female Traders