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In discussing the possible end of our book group, my dear friend Marie recently pointed out that throughout history women have gathered and supported one another. They would regularly visit while quilting, canning or knitting. Now that this tradition is not as common, women still need to find ways to connect and support each other. While household chores brought women together more often in the past, now we are also drawn to gathering to expand our minds as well as being creative. It is amazing that this would have once been forbidden, and still is in many places globally!
In creating my financial education business, I wondered if I should make the business especially for women. I even created Nest Egg Investor as a separate website to appeal to men as well as women. Over time, however, I have found that I really enjoy helping women learn how to invest their money and become more comfortable with their wealth management. I hope you’ll let me hear from you with questions and feedback so I can provide what you need to become more involved with your money management at Camille@FinancialWoman.com.
If you could use some support around increasing your financial knowledge, I’m so glad you’re here in this community of women with like goals. Let’s appreciate that we can now gather and expand our minds while remembering that this has not always been the case. Even though we may be gathering through cyber-space, it’s working if you’re increasing your investment knowledge while hanging out at Financial Woman! Thanks for being part of our community.
photo credit: Mike Licht, NotionsCapital.com
One of those days where I need my Big Fish gal pals….just had a great call with Rebecca! My biggest challenges are around cash flow- What is the best way to get a handle on that when one has to hold inventory and wait for payment. I have negotiated payment terms with the manufacture and it helped tremendously, however as we grow we need more money to hold more inventory and it seems like we can’t get ahead enough to be debt free and cash flow rich. Would it be advisable to find a working partner with money that shares the same vision?
Julia,
So great to hear from you! My belief is that there is good debt and there is bad debt. As you already know I’m sure, bad debt is money spent on high interest credit cards that are used to buy items such as clothes, entertainment and travel, while good debt is for investments in assets such as small business and undervalued real estate. I would look at the cost of borrowing and see if you would still cash flow after making your payments, especially given the extremely favorable low interest rate environment we are in right now. Remember, investing in your business is an investment, while spending is spending.
You may be able to secure an especially favorable loan by looking into non-profits and lenders who have programs that favor women owned or unique businesses, such as inventors, like you.
Best of luck!
Hey Julia, One more thought which you are probably already doing, is a LOC (Line of Credit) from your bank to tide you over during those swings. Hugs, Camille