Empowering Women Through Life Hurdles

#043 With divorce rates climbing and more women consciously choosing the singlelife, more women are providing for themselves (and often their children, too). Unfortunately, too many women are unprepared to take on financial responsibilities all by themselves… and it’s not necessarily their fault. As parents, it’s our responsibility to prevent that from happening to our daughters. Let’s empower the future generations of women to be financially confident and free! Here’s how…

 Today’s guest, Jayne Ellegard, is inspiring financial confidence in women by empowering them to take charge of their financial literacy and reach their financial goals. Jayne is the Founder and Coach at Ellegant Wealth, where she provides keynote speeches, workshops and coaching about financial education, specifically focused on women. 

 In this episode of Raising Financial Freedom, Jayne teaches you how to teach your daughters about money and empower them to cultivate financial freedom. She highlights her journey to becoming an entrepreneur and insights she’s gained on how to raise confident and financially responsible daughters. 

 “I want women to feel empowered around their financial situation and I do think that women haven’t been provided the education that we need and we don’t talk about it… When they gain confidence in this area, it also spreads into other aspects of their life.”  - Jayne Ellegard

 Understanding money and finances isn’t as difficult as people think it is, so there needs to be a mindset shift so women can feel invited to the table to engage in conversation about wealth management.

 If you enjoyed this podcast and know someone else who would benefit from it, we invite you to SHARE & RATE it on iTunes, Apple Podcasts, or wherever you’re tuning in from!

 Take a few seconds to leave a REVIEW: https://raisingfinancialfreedom.com/reviews 

 Stay tuned for more episodes coming your way!

 Resources Mentioned:

Learn more about Ellegant Wealth: www.ellegantwealth.com 

Connect with Jayne on LinkedIn: www.linkedin.com/in/jayne-ellegard 

Financial Empowerment For Women by Jayne Ellegard: www.ellegantwealth.com/book-preorders 

Transcript

[00:00:00] Eric: We are back new year, new things. If you heard the messages before. We have a new podcast, cover new podcast logo and a new website. So check it out. Oh, now getting in today's show, I want to remind the parents out there that I am also a parent, and this is one of the main core reasons why I started this.

[00:00:25] I have a daughter and I would want her to be well-prepared for life financially, no matter what her profession is, no matter who she's married to. And no matter how many children she has, today's guest is all about empowering young women through life hurdles. And maybe some of that measures can be relayed to young girls also.

[00:00:49] Jayne: I think one of the biggest things is for mothers in particular get engaged because if they're having that didn't [00:01:00] conversation, they're talking about money in their pocket, they'll finances and they're being candid and open with their children. And. The daughter in particular sees the mom. We need to engage the next conversation that is blind to create confidence in that young girl.

[00:01:19] Eric: Jane Eligard from elegant wealth is with us here today. Now Jane has been in wealth management for over three decades. Now, now she is an entrepreneur and speaker helping women get past difficult times like spousal, death and divorce. When it comes to finance. Today, we're going to learn what we can teach our daughters to handle certain life struggles that happen every day.

[00:01:43] And before we get into that, I'd like to give a word from our sponsor. Wait, what's going on? You can't be in here. I'm recording. 

[00:01:50] Host daughter: Sorry, dad, mom. Get 

[00:01:52] him.[00:02:00] 

[00:02:10] my 

[00:02:10] dad is taking too long to start the show and I'm taking over as the producer. So let's start the show now,

[00:02:22] Introducer: have you ever wondered why some people seem to have it all financial. Do well-off parents simply hand their children money or is there more to this welfare? Welcome to raising financial freedom. The podcast, we are here to talk about everything you never knew to teach your children when it comes to starting their financial future, the principles behind wealth and methods that are out there to teach your child.

[00:02:44] Personal financial freedom. There was no real tricks to earning other than money. We are here to discuss, teach and grow with you. Raising financial freedom, the podcast with your host and concerned parents, Eric yard, let us get right into today's show.[00:03:00] 

[00:03:06] Eric: We all know that the voice is at a high rate and not to be more. Women live longer than men naturally. So what happens to the woman when they become the sole provider and when it comes to finances and they aren't prepared to assume that role, this is where Jane and elegant wealth committee. 

[00:03:28] Jayne: I spent 34 years in wealth management working or wealthy family investing their money.

[00:03:37] And I just kept seeing it over and over again. We're so oftentimes the women, when they lost their husband or whether through divorce or they passed away, they would be thrown into a scary, overwhelming situation. And so I decided I wanted to provide education [00:04:00] received. And so that was really the 

[00:04:05] Eric: no help him women during this delicate time, portions are at a high level, can be a very big task at hand emotions like anger, confusion, doubt, Saturday.

[00:04:20] Could be, and probably are at an all time high during these.

[00:04:28] Jayne: No, I embraced it. I'm really passionate about it. And I want women to feel empowered around their financial situation. And I think that women haven't been provided the education. We don't talk about it. We don't talk about money. Money is very taboo. And so we get together. We talk about it things, but we don't talk about.

[00:04:53] And so I just really wanted to move it up and make a difference in women's lives. Because I think [00:05:00] in this area, it also breads into other aspects of their life. I think a lot of the problems that I ran into were I had never started a business. I had never run a business until a lot of the technology was marketing.

[00:05:17] Social media. That was all very new. I wish now I would have spent prior to leaving my job, learning more about some of the things that I was going to need to know. But other than that, it's really just finding women that,

[00:05:38] and of course COVID, didn't help matters any. So that, that made things a little more complicated than some rebounding. And I created during that time, I created an online course and I wrote a book. So I took advantage of the downtime. [00:06:00] And now I'm back to doing a lot of speaking engagements. I had to learn how to build a website.

[00:06:07] And so I did that on Kajabi. And just with straight forward, but there's still some ins and outs that it took time to figure it out loud and create the online course. So that, so that took a little bit of time. They'd worked with a CRM or the R stands for relationship management system, where I worked before putting it up for myself first on my own and figuring out.

[00:06:36] What exactly. I wanted to keep track and monitor. And even though I'm a finance person, I'm not an accounting person. And so that has been challenging as well. So, yeah, so

[00:06:54] I hadn't really utilized that was in the forklift. And so trying to [00:07:00] learn the system. Yeah help you send it off to LinkedIn, Facebook and Instagram. So you won't have to create it in three different places. So some of those things with 

[00:07:13] Eric: Jane, let this hurdle stand in her way. And what type of solutions would she come up with in order to help?

[00:07:20] Conquer this new situation. 

[00:07:23] Jayne: Now I am pretty familiar. It's a big learning curve trying to learn it all at one time. It's definitely changed. I really didn't have interest in being an entrepreneur. I really planned on working for my entire career and then retiring. But I drew in my career and reached a point where I was just silent.

[00:07:48] I wanted to make changes I wanted to, and I didn't feel like I could do that as convincing my mom. [00:08:00] 

[00:08:00] She was 

[00:08:00] pretty nervous for me. I don't know why she didn't

[00:08:07] stick with the big company and get my paycheck and finish out my career that way. Not that she had any, but I did have to convince her that this was a good idea. Otherwise, I think it's just, it was just learning curve, trying to understand what there was to learn and trying to figure out exactly how I wanted to go about doing that.

[00:08:29] Originally. I thought it would be. Through group coaching and I still love doing them, but I'm getting a lot more traction with the speaking engagements. I think you really do have to shift and pivot and figure out multiple ways to bring in as I'm not sure. I understood that quite as clearly as I do now, I also spent the first six months I spent time creating the curriculum.

[00:08:59] I created what I [00:09:00] call the six pillars to financial empowerment. And I really wanted to think through what would women need to get their arms around their financial situation. And I think the financial industry has been very male dominated, very masculine. And I think a lot of the terminology turns. And so I wanted to come up with ways to prescribe things and to talk about a thing with women in ways that they felt more, what I've had to learn to become a speaker.

[00:09:36] I wasn't. And I can tell you that wasn't one of my favorite things to know. I haven't typically wanting to be alive. I've always wanted the people on my team and have the success. And so I had to learn through what make that shift and that it was going to be me. That was going to be out there. Then in my smells encouraging women to [00:10:00] wrap their arms around this.

[00:10:02] Spent, so went through a speaking program. And so I've spent a lot of time learning how to be a good speaker and tell stories and be engaging you. So that has tried to squash some of the nerves that I typically had around speaking has been certainly something that I've had to overcome. I want to transform as many women's financial lives as possible.

[00:10:24] I want women to discover that understand their finance as difficult as they are. And so I think there's the mindset that needs to be shifted so that women can feel invited for the.

[00:10:46] The conversation that's happening today about their financial situation impacts their financial future. And so my goal is really to empower women in this. 

[00:10:55] Eric: Jane is more than willing to help today's move, but here at raisin [00:11:00] financial freedom, it's all about the parents helping the child. How can the parents help their daughter be prepared before a situation like this?

[00:11:12] I don't 

[00:11:12] Jayne: think it would be all that different. I think the message is to have courage and confidence in this area. And I, I talked to as many women, as I know about the fact that the career path that I took is amazing. And. If they can get past the back, they're really not sure. So often Eric women say to me, my brain doesn't do math.

[00:11:39] And I think unfortunately that they aren't good at math and yet they can be good at math because they're smart and they can ask. And, but the reality is, is there wasn't really that much medicine in what I was doing. It was more [00:12:00] about. Develop a relationship with clients. It was about treating trust. It was like listening and being able to keep them, whether I was talking to the chief financial officer of a company who wanted all the meeting details, or I was meeting with an 84 year old widow who was more excited about.

[00:12:23] The fact that I was coming to have coffee and muffins with her. And so I believe that women are naturally talented. They need to do this job well. And so I would say to a young woman, To consider this amazing winner that I know she can be incredibly successful. I think one of the biggest things is for mothers in particular, get engaged with.

[00:12:57] Because if they're having that [00:13:00] dinner conversation, they're talking about money and their finances and they're being open with their children. And the daughter in particular sees the mom that is blind to create. In that young girl. And I personally, my mom was the one who managed somebody. And I think that's part of the reason why I had absolutely no concerns about walking into this.

[00:13:28] And so I think being a good model is incredible. Now my son has followed in my footsteps. An equity analyst. And she said to me, at one point we were talking about the markets and stocks and investments at the dinner table every night. So obviously it's a little bit different in this situation. But I think the more that the mom can engage and they can have those conversations with the children [00:14:00] and use opportunities, like we were always using an opportunities like with an allowance.

[00:14:05] Now we used that as an opportunity to teach our son about. We had a system where he got, I don't remember what the dollars were exactly when maybe he got $10 and then the dollar went into taxes and a dollar, a couple of dollars when I was savings and a couple of dollars went into gifting and then. And so if he got $5 and if there was something he wanted to buy, that was $10.

[00:14:31] She was going to have to wait for him to get up the next. And so we tried to teach them about, and so we had those conversations with them. And how much was he going to make when he got out of school and was not going to be wild for him to have that kind of debt? And he made the decision that the expensive as well, when he was graduating from college, we started having the conversation with them about how important it is to start investing early, to be contributing [00:15:00] plan.

[00:15:01] And so he hadn't been very responsible with their money. We have been talking to him about it. I think we've tried to be very upfront and talk about money with them, which I think unfortunately, so many people don't do. We've raised money and they're just talking to them about it the other day. And then I'm starting to retire.

[00:15:17] And I retired from my corporate job. My husband is retired, we're 58 and we have never lived beyond their means. And so we can talk about that. We've talked about the facts that we started contributing towards retirement plans that a very young age, but we never sent beyond. Within our means and thing happened by accident that I got pulled into investments and I'm so incredibly grateful that it happened, but it was not the career path that I had planned by any means.

[00:15:56] I really didn't grow up in a family that had [00:16:00] very much money and I didn't really understand investments. And. Finance classes, but not really an investment class ever. And I just happened to be in the right place at the right time. And this ended up being my career for 34 years. 

[00:16:17] Eric: And there it is the discussion having that discussion with your child and using real world situations with them.

[00:16:25] This should be your Anthem for 2022. If you have not started anything yet, you don't need no fancy tools, no core. You need to sit down and have a compensation. It's your child and get them acquainted with real world life situations that are going through financial. As you can see, Jane has done that with her son to make sure he is properly prepared.

[00:16:50] So now does it work is elegant wealth able to help the woman of today and the woman of today? 

[00:16:57] Jayne: Oh, my gosh. The feedback [00:17:00] that I've gotten from women who have experienced transformation, I'll share with you, why? The, one of the quotes from a woman who went through my class and she sent me a note afterwards, and she said, what strikes me is that you helped me understand my role in.

[00:17:20] Managing where, well, you open a door that I had tried to nail shots by showing me that despite my attempt to be fine is a big part of my life. I can shut my eyes and let others. Where I can open them and decide what I want and where I want to go. I now have the confidence and enthusiasm to explore the world that has been opened up to that as what makes me proud, just seeing the difference that it's making in their lives.

[00:17:51] I had friends, I had one woman saying it was, she. The price is in her business. She hadn't raised the prices in 12 years. And after going through my [00:18:00] class, she had a renewed sense of belief in herself and having women as having

[00:18:09] gained that. So when I, my mission statement is empowering women to show up and on their financial journey with confidence and wisdom. You know, but the courageous, the courage to be proactive because so many women will experience significant like email or getting a divorce. And so having the courage to step up and take responsibility, I think it's really important to take ownership of the conversation happened.

[00:18:43] And as I was mentioning earlier, and then the wisdom to make a difference. With their family members, because if they don't understand their financial situation themselves, they probably also aren't having the conversations with their parents, their [00:19:00] spouse, or partner, their children that they shouldn't be having.

[00:19:04] And I just think these are really important conversations. And so if I can make a difference and start to help a woman see that this isn't. As overwhelming as she didn't have bought otherwise. And that she's perfectly smart and capable and can, can get a grasp of this then that just that's, that's my rewinding.

[00:19:27] It's never too late. It's never too young to start learning about this. And so I encourage every woman. To conversation now, and you can't, don't beat yourself up for what you done in the past. What's happened, but start to make different decisions going forward and start to have these conversations, you know, with your children.

[00:19:54] And then if it means you need to. Or, um, what's in the podcast or I [00:20:00] start learning in any way that you can then start doing that so that you can inject those conversations and you can do that wrong. Wednesday was www that elegant 12th and elegance is spelled with two L so L E G a N T E. And on there, I have my signature offerings, the different courses that I offer as well as I typically have on there.

[00:20:31] If I've got any upcoming speaking engagements that are either virtual or in person that people can join. And I have some on my farm or some of the presentations that I'm already done on there, as well as some different podcasts. I usually put that lens on there if I can. And. So there's lots of information.

[00:20:49] I wrote the book, financial empowerment for women, your guide to courage, confidence, and wisdom, and that is also available. On my website, as well [00:21:00] as@amazon.com and the barn. Thank you so much for inviting me. And I was delighted to be here. I think I love what you're doing. I think we need to be educated in this area.

[00:21:12] And so thank you for everything that you're doing.

[00:21:18] Eric: What I've taken from that discussion with Jane is that there are life problems that can be kept at a low percentage or not even exist. If financial literacy is taught at an early age, also making it second nature or unconscious thinking. And that is the. Of reason, financial freedom. He king financial literacy, unconscious thinking, making it second nature for your child to make the right decision when it comes to money, without them even thinking twice about it.

[00:21:50] And I'll tell me why can't you do that? Big business is doing it in order to make your child into an everyday consumer. So now it's 2022. Let's [00:22:00] make financial literacy in your house. Unconscious thinking. Well, it's 2022, a new year new things. And as you can see, we have made changes, basically gave their show the proper paint job that it needed from the get-go one tool that I'm happy about is the reviews.

[00:22:20] Now it is very simple for you to leave a review. You can go on the web. That's raising financial freedom.com and go to the reviews page and liberal review takes literally seconds. This is the problem my listeners had in the past because they didn't know where to go on their podcast player. So we thought that we needed to introduce this concept and to make it more simpler.

[00:22:43] So, you know what I want you to do? I want you to go right now after you listen to this. It's go and leave a review takes nothing but seconds. Now tell us how you feel about the show, our new podcast cover and our new logo. So as 2022 starts, we [00:23:00] have more good content to give you pushing even deeper into financial literacy for your parents.

[00:23:06] So for now, state. And Stacy, 

[00:23:10] Introducer: we really hope you enjoy this episode of financial freedom. The podcast stay connected with us directly through raising financial freedom.com. You can also join the discussion on social media, which you can also find links on our website. If you would like to speak with us, please send us an email to info@raisingfinancialfreedom.com and as always thank you for pushing your mindset towards a better return.

[00:23:34] This concludes the most thought provoking portion of your day. Don't forget to please like, and subscribe to stay fully up to date until next time. Be kind to yourself and each 

[00:23:44] other. .