Book Launch! "The Financially Empowered Woman" by Tracy Theemes

Remember Money Matters, the phenomenal financial workshop that Tracy Theemes, Co-Founder of Sophia Financial Group, led for YWiB? Well, she happens to have written a book, The Financially Empowered Woman, that overviews the same five crucial steps of financial planning, investing, asset allocation, and how you can grow your money. Being as lovely as she is, Tracy is inviting all friends of YWiB to her book launch and signing to mingle, enjoy a bite to eat and drink, pick up a copy and have it personally signed.

Who: Tracy Theemes' Book Launch What: The Financially Empowered Woman: Everything You Really Want to Know About Your Money Where: Sophia Financial Group, 3762 West 10th Avenue When: Wednesday, June 19 (6-7:30 pm) How: RSVP here How much: Free!

Can't make the book launch? You can order a copy of her book via email —

Don't forget Tracy holds regular FREE financial planning sessions at her office as well. Due to space constraints, they usually require RSVP, so if you'd like to be in the loop for upcoming sessions, register for the event notifications on the Online RSVP Form, under the News & Events tab.

What are you saving for?

By Amanda Ainsworth If you couldn’t make it to our most recent event, Money Matters, I hate to tell you but you truly missed out! An evening with Tracy Theemes was all I needed to get my money-saving, ladder-climbing butt in gear!

For me, the most valuable takeaways came in two parts: Tracy’s methodical approach to identifying your goals and achieving financial freedom and her behavioural tips to help every women work their way to the top of their careers.

Below you’ll find Part I: Tracy’s 5-Question Technique for Financial Decision Making. I hope you find these as valuable as I did; stay tuned for Part II: Tracy’s Behavioural Tips next week!

Tracy’s 5-Question Technique for Financial Decision Making

Q1. Where am I now?

How do you know what financial position you’re in once all the smoke and dust clears? Here are two things to calculate and track:

  1. Net Worth— Calculate it every six months: Net worth = your Assets – your Liabilities
  2. Cash Flow — Track your spending pattern over a 90-day or six month period. Use your online debit and credit statements or the plethora of online apps/websites (such as that will do it all for you.

Q2. Do I have reserve?

Reserve is simply a liquid “backup”, preferably kept in a high rate savings account, meaning you can take it out as cash in under 24 hours. Keep cash (or cash equivalents) in your reserve.

The amount of reserve money you should have will depend on things like occupation, for example someone in the film industry might need more than someone with a predictable and dependable income, and your other spending patterns.

When should you start building this reserve? Umm, right now! A good base is to calculate how much money you need to cover your costs of living for three months.

Being your own bank is not only cheaper, it creates financial freedom, confidence and happiness.

Q3. Where am I headed/What do I want?

Pick the 2-3 most important things to you right now (hint: one of these should be your reserve from Q2, if you haven’t already reached your margin)

Then ask yourself, how much does it cost?

And, when do you want it by?

Q4. How am I going to get there?

 These are the years to learn (and practice) positive new behaviours. So skip that latte, pick up an extra job if you need to and attend one of Tracy’s investment classes – they’re free! Contact us if you want to hear about upcoming sessions.

Q5. How am I going to monitor my progress?

Fluent with Excel? Even if you aren’t, it’s a great tool for tracking your budget and financial goals, Use it!

Define what would be “success” for your financial goals and remember to track your progress!

So, what are you saving for? Share with us in the comments below and stay tuned for Part II next week!