October 2017

Last week I wrote about the imperative for women to take control of their financial future. Now it’s time to look at how to build a financial plan to help you do just that. After understanding a client’s goals, I help my clients look at six intertwined elements of a financial plan:

1. Cash Flow
2. Debt Management
3. Emergency Funds
4. Income Protection
5. Asset Accumulation
6. Estate Planning

In 2015, women controlled over $40 Trillion, about 30% of global private wealth and growing. Along with this, 95% of women will be their family’s primary financial decision maker at some point. According to Bridget Brennan, CEO of Female Factor, “Women drive 70-80% of all consumer purchasing, through a combination of their buying power and influence.”

Written by Nancy Brommell, Business Advisor, Women’s Enterprise Centre of Manitoba

Almost 100 Canadian delegates from most of the provinces participated in this year’s WBENC Trade Mission. Delegates are women like Tatiana Wensley (left) and Hailey Jeffries (right).