Ashley Feinstein Gerstley is an author, entrepreneur, and feminist who not only is on a mission to end inequality through financial wellbeing, but to make saving, tracking, and earning more money so much fun and empowering. In fact, it is not unheard of for her clients to celebrate with money parties. Today, she speaks with Lisa about her own journey into money management, her new book The 30-Day Money Cleanse, and the connection between financial health, equality, and freedom. She also shares why it’s helpful for everyone when women are wealthy, important practical starting tips for women to gain more control of both their financial tracking and their mindset, and why she prefers to replace the term “budgeting” with “allocating happiness.”
Highlights:
- Ashley got into smart money management originally for her own personal interest and growth. She was an investment banker and shared her own journey while working on her personal process with all aspects of money and finance. The more she was real about her experience, the more others came to her for guidance and coaching.
- Studies have shown that women save more than men and invest more in their community and families.
- Often times women’s products or the “pink tax” can be even 13% more than compared to men’s.
- Ashley realizes that taking an honest look at your finances can be overwhelming, but the first way to jump is to start writing down everything you spend money on. Physically writing it helps us track just how much is coming in compared with what is going out and helps us get conscious about ways we are spending needlessly.
- Studies have shown that women may be penalized if they negotiate too hard, so Ashley realizes there is still much work to be done when it comes to women getting financial equality in the workplace.
- Ashley’s 30-Day Money Cleanse book came from the 30-Day Money Cleanse program. Both are in place to help women get the proper emotional and behavioral support, as in our society now there is a lot of missing education and taboo when it comes to money management.
- The more we practice having a growth mindset about money, the better our experience becomes.
- Ashley likes to replace “budget” with “happiness allocation.” It is a much more fitting idea that we are in control of how we allocate our funds, depending on what gives us joy, peace, and power.
- Most Americans have less than $400 in savings. Ashley highly recommends creating different online accounts and buckets that automatically transfer from our checking account.
- A large part of shifting to a growth mindset is to use language that is empowering and supports the idea that how we spend our money is our choice.
Three Pieces of Advice:
- The list is never done, and that is liberating. Be happy now!
- Know that you are worth it and fine just as you are.
- Find time daily to disconnect from technology, even if it’s for just 10 minutes a day.
Quotes:
“People can support us when we live out loud and share what we are doing.”
“We all benefit when more women are wealthy.”
“If we truly get that [by] taking actions we are getting what we want, it becomes a radical act of self-love.”
“A lot of the times we are spending and we don’t even know what the impact is. We can reallocate to get the most happiness.”
Mentioned in This Episode:
SPU Episode #60: Financial Independence with Karen Stewart
A Study of Gender Pricing in New York City
The 30-Day Money Cleanse, by Ashley Feinstein Gerstley
Sacred Success: A Course in Financial Miracles, by Barbara Stanny
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