- DEMI LYNCH -
For over a decade Billie Christofi has been helping women achieve financial security.
The Reventon Finance Director teaches women and first time investors how to build their investment portfolio.
So what are Billie's best tips for financial success and why is she so passionate about financial education?
As a kid what was your relationship with money?
I wasn't a big spender; it was more about saving money. As a kid I would gather money from birthdays and Christmases and give that to my uncle who would put it into a share portfolio.
How did your family describe to you what was a share portfolio at such a young age? What made you interested?
For us banks just never gave you the savings and the interest that you deserved. We were put off banks. And we actually saw dividends from our shares so it seemed more worth it. It was actually exciting as a kid receiving cheques with my dividends as a kid. It made me see my money was actually going somewhere and that I was getting money back. I was very fortunate to have a family that was big in investing. At 16 my family and I we went into a property syndicate. For me that was a really good starting point to get into the market.
So what habits should young women be making if we want to get better with finances and get better with saving?
I always recommend my clients to look back at their last three months of spending and actually manually put each figure into a table of where their money has gone. Because with debit cards and credit cards now we're just tapping away unconsciously so it's very easy to accumulate bad debt without even realising it. And there's a lot of things we don't need; I recommend waiting 24 hours before making a big purchase because by then the impulse urge to buy has worn off.
Why is it important for women to achieve financial security?
It's so important for women to be financially independent, financially literate and to be in a position where they can feel empowered to make their own financial decisions. There's so many things life can throw our way so it's important to be financially secure. So I feel women knowing where their finances are going and not just leaving it to a spouse to sort out for them is the most important thing women can do.