Welcome to our first blog post! 🎉
Ready to take charge and OWN your money? Our mission is to empower you on your journey to financial independence.
If you’re new to Penny, I’m Jemi, the founder and CEO. I started Penny during the COVID-19 pandemic because I saw a need to help more Australian women achieve financial independence through practical knowledge and confidence building.
While we’ve been working diligently behind the scenes, we’ve been building a strong foundation for our platform. Stay tuned for exciting updates!
Why I Started Penny
Like many startups, Penny is born from the stories of everyday women with real money struggles and wins. It’s the culmination of my own journey to financial independence, the stories of the women around me, and the experiences of countless women we’ve spoken to.
Maybe you can relate. Remember that feeling of being financially dependent on someone, even if it was just for a bit? According to Women In Super, 44% of us depend financially on our partner’s income. (Women in Super 2020)
My reality check happened when I was 28. After finishing a law degree and doing a stint with UNICEF, I found myself unemployed and dependent on my partner. When the relationship ended, I realised I needed to get a better handle on my money to build the life I wanted. The experience lit a fire in me to learn more about money and build my finances. It also taught me three key lessons:
- To be truly independent, you must be financially independent. Rethink relying on others for financial decisions or support. Start small – learn about money, invest a little each week, and build your own safety net.
- Financial dependency can happen to anyone. It’s time to talk openly about it. Sharing our stories can help reduce feelings of shame, guilt and isolation. A fair approach to shared expenses and separate accounts can also help to build your independence if you’re in a relationship.
- Life is unpredictable. Plan for emergencies. Build your own emergency fund to weather unexpected costs. Pay yourself first – prioritise your savings goals and future before non-essentials.
Fast forward ten years and my finances have changed quite a bit. Not only have I increased my savings, but my overall financial confidence has soared. Most importantly, the Penny team and I are dedicated to creating products and services that empower other women to build their confidence and wealth.
Through countless conversations with women, we’ve noticed a recurring pattern: many women rely on loved ones for financial advice, especially for investments and property. This often leads to low confidence and, in some cases, a cycle of dependency.
That’s why Penny’s all about changing the game. We’re here to help you understand the basics and build your future.
First on our agenda? Owning your own home. Let’s face it, the Aussie property market is bananas right now! But that doesn’t mean you have to give up on owning a property completely. Penny is here to help! Through our app and resources, you’ll get the tools, information, and expert advice you need to reach your homeownership goals tailored to your unique situation.
Ready to ditch the overwhelm, confusion and shame to manage your money more effectively? Join the Penny movement at:
Together, let’s rewrite our money stories and build our independence one woman at a time.