Happy Friday!!! Hope you all had an awesome week. Last week I missed my weekly post – oops and sorry! Between a super busy week at work, life as a mom of two and preparing for and then celebrating my good friend and sorority sister’s wedding, the time just escaped me. But I am back and so excited about what I am going to share with you.
This week I had the esteemed pleasure of meeting Alexa Von Tobel. If you don’t know who she is, she is the New York Times bestselling author of Financially Fearless and the founder & CEO of LearnVest – a company’s whose sole focus is to make financial planning more accessible to people everywhere. She was recently named a Presidential Ambassadors for Global Entrepreneurship and has been on Inc Magazine’s “30 under 30” and Forbes “Women to Watch” list, to name a few – the accolades for Alexa are endless.
Alexa came to EMC to speak at our last Women’s Leadership Forum event for 2014. Speaking to a packed house, she shared the LearnVest 7 step action plan for financial freedom.
Listening to her speak about the challenges the average American faces, I was blown away by the reality we live in. A few stats Alexa shared:
- 76% of Americas feel out of control when it comes to their money (LearnVest, 2011)
- 76% of Americas live paycheck to paycheck (CNN, 2013)
That’s 3 out of 4 people – unbelievable but true!
Working in Human Resources, that immediately made me think about the possible impact that financial burden could have on employees and their careers.
The things we have going on in our life (good and bad) have an impact on us at work. Someone who is constantly worried about how they will make ends meet won’t be 100% focused at work. That lack of focus will lead to a lack of productivity, which can have a long-term impact on your career progression. And that lack of focus and productivity will have a financial impact to the company’s bottom line. In other words, your financial distress is yours and your companies’ problem.
That led to two thoughts:
- First, it should be a company’s imperative to help ALL their employees be financially smart. Many companies offer financial planning benefits to their executives, who, let’s face it, are making good money and don’t NEED the help. Those that make less money and have similar demand on their cash are the ones that REALLY need the help, so why not offer a service like LearnVest to your employees. It’s a win-win. The company removes a major stress from their employees’ lives – finances – in turn they are more focused and productive. And that, in turn, means $$ to the company.
- Secondly, for anyone that is career ambitious, not only is it in your livelihood’s best interest, but also in your career’s best interest for you to be disciplined with your finances. Again, less stress equals more focus and productivity, which will lead to getting noticed, promotions and pay raises.
Alexa did not make the goal of financial savviness and freedom easy, but she made it sound achievable. But it takes clear goals and discipline. No different that our individual paths to our “dream job”, which we all meticulously plan out, so why not spend an equal amount of time getting our money in check.
Some final words on Alexa. What an impressive individual! She has achieved so much success and she is self-made. And she’s done this all by 31!
Some of my fellow board members and I with Alexa Von Tobel. Alexa is in the middle.
Can’t wait to dive into this book