Just recently, Melissa Murphy of Office Style and I had the opportunity to attend “Women in Business,” the Marie Claire event showcasing Joanna Coles, Editor-in-Chief of Marie Claire and Alexa Von Tobel, Founder and CEO of LearnVest, in honor of Ruth Fertel, the founder of Ruth’s Chris Steak House. It was so great spending the evening celebrating the achievements of female leaders.
The event started off with Joanna Coles, telling us a funny story about a salon mishap and eventually it was turned over to Alexa von Tobel, who stole the show!
While looking for ways to better manage her own finances, Alexa saw a need for reliable financial guidance for women. And so, she launched LearnVest in 2008. Today, the personal finance and lifestyle website has helped over one million women gain control of their finances!
What an accomplishment on Alexa’s part! If you’re a lady who’s found herself not truly understanding her finances, LearnVest is for you. Don’t hesitate to check it out. Remember, Broke & Chic is here to teach you how to be fashionable and fabulous on a budget; LearnVest teaches you how to take control of that budget!
On an entrepreneurial note, if you have a dream, turn it into a reality. Women have more of a voice than they give themselves credit for. If you have an idea, don’t hesitate to act on it. Who knows…you could even be the next Mark Zuckerberg or Jack Dorsey!
- Dress: $30 NY & Co.
- Nude Pumps: $69 Nine West
What we learned:
Here’s a few things Melissa and I learned at this event that blew our minds. Needless to say, we both were eager to head home and organize our finances!
1. Only 40 years ago, women weren’t allowed to have a credit card in their own name.
2. Take control of your finances. Get organized and consolidate accounts. Treat your money like your social life!
3. Think about your life based on what you take home, not your salary. You might make 60,000/yr but in reality, you only make 42,000/yr after taxes. Treat the later as your salary.
4. Your rent should only be 30%of your monthly income.
5. 20% of your income should go to essentials. Utilities, food, gas….
6. Your credit score is the only grade that matters when you’re out of school.
7. According to Alexa Von Tobel, everyone should have an emergency fund of nine months of living expenses.
8. Should you buy or rent? It depends. If you don’t think you can live in a home for at least 16 years…don’t buy it.
9. All women should have their own bank accounts. Don’t let a man ever control your finances. Don’t rely on someone else to support you forever. Always have your own income. You never know. The only person you can really depend on to be there for you, is yourself!
10. Want a raise? Set up a meeting with your employer a month in advance to talk about your career. Be prepared to negotiate. According to Alexa, women have a hard time with this. Go for it ladies!
11. Don’t be to aggresive in your negotiation. Educate yourself on what others in your position all over the country are making.
12. 25% of the USA consists of single moms!
13. We make 6-10 money decisions everyday!
Helpful Articles from LearnVest
Alexa von Tobel and I after the event.
Here’s a question for you. Why do men negotiate their salary tooth and nail and women don’t? Let us know you personal thoughts in the comments below.