In the season finale of Keep Finance Queerd we are keeping finance personal by discussing how your personal identity impacts your finances. Traditional personal finance advice often attempts to put money in a vacuum. It tells you that all you need is to build a better budget, save more, spend less, and essentially just manipulate the numbers in order to be "good with money". The key connection missing in most personal finance advice is that it’s less about the numbers, and more about the person.
In this week's solo episode, I share 4 major ways that your identity impacts your money. We will discuss the unique ways that both your personal and social identity influence your financial behaviours. I recommend having a journal by your side for this one so that you can reflect on the questions throughout the episode!
Thank you SO much to everyone who has listened to an episode. If you haven’t already, I would love it if you’d take 5 minutes to leave a review on Apple Podcasts or Spotify. I'll see you all for Season 2 in 2023!!!
In the season finale of Keep Finance Queerd we are keeping finance personal by discussing how your personal identity impacts your finances. Traditional personal finance advice often attempts to put money in a vacuum. It tells you that all you need is to build a better budget, save more, spend less, and essentially just manipulate the numbers in order to be "good with money". The key connection missing in most personal finance advice is that it’s less about the numbers, and more about the person.
In this week's solo episode, I share 4 major ways that your identity impacts your money. We will discuss the unique ways that both your personal and social identity influence your financial behaviours. I recommend having a journal by your side for this one so that you can reflect on the questions throughout the episode!
Thank you SO much to everyone who has listened to an episode. If you haven’t already, I would love it if you’d take 5 minutes to leave a review on Apple Podcasts or Spotify. I'll see you all for Season 2 in 2023!!!
Hi, friends. Welcome back to another solo episode of Keep Finance Queerd. As you may have noticed, there hasn't been a new episode in a couple of weeks. I've been juggling a lot of new projects and unfortunately the podcast got put on the back burner. But I'm back this week and it's actually our final episode of season one. Don't worry, we will be back in 2023 with more incredible guests and solo episodes and a new revamped format. And it's going to be so freaking good. I have so many ideas for season two and I can't wait to execute them. I just want to take a moment to thank anyone who listened to any of the episodes of season one. I truly appreciate every single one of you and this show would not be possible without all of you. So thank you. If you haven't already, I would love it if you would take five minutes to leave a review on Apple podcasts or Spotify. This really helps us out. It helps the podcast be more visible and allows more people to see the content. And, of course, make sure that you also go and catch up on any episodes you may have missed. This is episode 20. We're ending it off on 20. So if you haven't listened to 20 episodes, you've got to go back and make sure you've listened to them. On today's episode, we're going to be talking about how your personal identity impacts your money and how you can use that understanding to create a financial plan that works for you. This is like my bread and butter. This is literally what I'm so passionate about. You may have heard me say in the past that I take an intersectional approach to finance, and that's kind of what we're going to dive into this episode. So I really want to help you all understand how your unique identity really impacts your financial situation. And by understanding that and knowing that, you can then create a financial plan, a financial management system that's actually going to work for you and be sustainable in the long run. So let's get comfy and let's get right into it. Hi there. Hi. Hi, I'm Sydney. My name is Rebecca. I'm an Autistic K woman. I'm Jane. I'm a first generation Lapina. I am a single mom and a survivor of domestic abuse. I am an ADHD plus sized millennial on the autism spectrum and Add, creating other problems in itself. Even though I bring in decent money, I struggle with staying ahead of everything. I am now struggling to pay off my debt. My traumatic brain injury means that it's hard for me to concentrate long enough to sort out my finances. The hardest time managing my finances. My parents were never able to teach me. I love my Starbucks habit, and I'm not giving it up. Traditional personal finance advice often attempts to put money in a vacuum. It tells you that all you need to do is create the perfect budget, save more, spend less, work harder, and essentially just manipulate the numbers in order to be good with money. The key connection missing in most traditional personal finance advice is that it's actually way less about the numbers and way more about the person. That is why I want to have a conversation about identity and money because I truly believe that identity led financial education is the best approach and that is what my company, Queer Co. Is bringing to the finance industry. So first we need to define identity. There's a lot of different ways that identity is defined and it can get really complicated. So I'm going to try and keep it as simple as possible. Your identity is the distinguishing characteristics you have that determines the way you define and see yourself, as well as how others define and perceive you. The way that you define yourself is your personal identity and it's formed by the characteristics that you hold that you feel attached or connected to. Personal identity is the parts of yourself that make you who you are and create your sense of self. So really prominent aspects of my identity are the fact that I am Queer, the fact that I'm a woman, the fact that I have ADHD, those are things that I really hold close to me and that are really important aspects of my identity. So I would consider those a big part of my personal identity. The way that you're perceived by others is your social identity and this is often based off of the quote unquote groups that you belong to based on the characteristics that you hold. So examples of social identity include things like race, ethnicity, sexual orientation, religion or spiritual affiliation, socioeconomic status, age, gender, sex, national origin, and any sort of physical or cognitive disabilities. People will look at you and perceive you to belong to a certain social identity. Even if that is not actually accurate. They will make assumptions based on the way that you look or the way that you act. Now of course there's lots of social identities that are invisible social identities. For example, if you looked at me you wouldn't know that I have ADHD, anxiety and depression, but you would notice that I am white and that I am young and you would probably perceive me as a woman. And of course, as we're going to talk about, all of these things also influence your money. So let's discuss a couple of different examples of how your identity impacts your finances. The first one I want to talk about is your proximity to power and privilege. Depending on the identities that you hold, you might have more access to power and privilege and therefore face less barriers when it comes to your finances. Certain identities such as being white, cisgendered, nondisabled or male will give you more power and privilege, whereas holding other identities such as being disabled, indigenous or nonbinary give you less access to power and privilege. So there's actually this really awesome wheel that Sylvia Duckworth drew, and it's adapted from Ccrweb CA, but it is a drawing of the wheel of power and privilege. So basically, this diagram is a circle with power being in the middle, and it's divided into little pie chunks. And each pie chunk is kind of an aspect of your identity. So there's formal education, ability, sexuality, neurodiversity, mental health, body size, housing, wealth, language, gender, citizenship, and skin color identities on the very outside of the circle. So, like, the crust of the pie have the least access to power. And then as you get closer to the center of the pie where the word power is written, that's where you have more power. So if we look at language, for example, those of us who are English speaking, or our first language is English, are closer to power than those who are non English speaking. If we look at formal education, those of us who have post secondary education are closer to power than those who only have an elementary education. So take a moment to reflect on how your own proximity to power and privilege may have benefited you financially. So probably for most people, you will have some areas of this little pie where you are close to power and maybe some areas where you're further away from power. But I want you to take a moment to reflect on how your own proximity to power and privilege may have benefited you financially. Maybe you've got hired at every job that you've ever applied for. Maybe you didn't have to pay international tuition because you had an abundance of postsecondary education available to you in the country that you live in. Maybe you were able to live at home while you went to school, or maybe you're able to afford safe housing and you don't have to worry about accessing safe housing. Those are just some of the examples. There are tons of different ways that you can experience privilege. And I think it's really important to keep in mind that although we talk about white privilege a lot, there's also so many other forms of privilege. Being able bodied is an extreme privilege and one that I think we take for granted every single day. For those of you listening that are able bodied, you don't have to worry about going about your daily life and going to the grocery store and going to the gym and going to the library. Like, wherever you're going, you don't have to worry about whether or not that's going to be an accessible space for you. I think another one that a lot of people take for granted is if you are neurotypical versus neurodivergent, that is a huge privilege to be neurotypical and to not have the same barriers that exist for some neurodivergent people for just your everyday life. So I think it's important to think about these things. Now, of course, you can simultaneously hold power and privilege and also experience systems of oppression. This is where the concept of intersectionality comes into play. You may have heard me speak about the importance of intersectional finance before, and the term intersectionality was coined by Kimberly Crenshaw, and it is a framework that emphasizes the importance of viewing an individual's various overlapping identities collectively instead of independently. So to give a personal example, I experience a lot of power and privilege because I am white, I'm cisgendered, I'm ablebodied, but I also face discrimination, and because of my sexual orientation and I can experience both at the same time in the grand scheme of this wheel of power and privilege, I am very close to power. I experience a lot of power and privilege because I grew up middle class. Again. I'm white. I'm Cisgendered. I'm able bodied. There's a lot of different things that contribute to my power and privilege, and there's a lot of other people who have different intersecting identities that would experience a lot more systems of oppression. So this leads me into my next example of how identity impacts your money, which is the barriers that you face. So just like you took a moment to think about the aspects of your identity that may have benefited you financially, let's now think about which aspects of your identity have subjected you to discrimination, barriers, or systems of oppression. And taking that a step further, what barriers exist around money or your finances due to these aspects of your identity? I highly recommend that you go and listen to our guest episodes to hear about how many of the guests who hold marginalized identities have experienced financial barriers. This is something that we've dove into with every single guest on the podcast is talking about the different aspects of their identity that have influenced their finances. So definitely go and check out those guest episodes if you haven't listened to them already. An example that I personally experience and talk about a lot is the fact that I'm neurodivergent. Being neurodivergent means that I just understand money differently than neurotypical folks. And many of the personal finance advice and systems out there just don't work for my brain. And that's an example of a financial barrier I face due to my identity. So I can't access the same education and the same tools in the same way that someone who is neurotypical can. Now, the third example I want to talk about of how your identity impacts your money is how you choose to spend your money. So often your identity will impact the way that you decide to spend your money and how you want to spend your money. For example, if you're a woman, you might feel more inclined to support women owned small businesses. Or if you're part of the LGBTQIA plus community, you may stop supporting brands that support homophobic political leaders. Or it may come down to just the concept of safe spaces. You might choose to shop in a specific area of the city, in specific stores, because you know that those are safe spaces for you. You might choose to drive further to a grocery store that offers sensory shopping hours. Maybe you continue to see your doctor in your hometown even though you don't live there anymore, because they make you feel comfortable. Take a moment to think about how your identity has impacted or continues to impact how you choose to spend your money. And this can apply to small financial decisions, like I mentioned before, just who you choose to support when you buy daily living items. But it can also apply to big financial decisions as well. If you own a home, or if you own a car, or if you move to a new city or you switched career paths, how did your identity play into those major decisions? The last example that I want to talk about is how you actually feel about money. So your identity overall will have an impact on how you feel when it comes to money. So what your relationship is like with money and how in general, you just view and understand money. And this might be a result of how you were raised or the way that historically, folks with specific identities have been treated. We all know how prominent the racial wealth gap still is. And not only will black indigenous people of color face barriers that affect their finances, but this can also have an impact on their perception of money and wealth. Religion or culture also play a role in how you feel about money. Because the value of money is socially constructed, that also means that different countries or cultures across the world will assign different values to their money. And this will also carry over to how you feel about wealth and success and what your perception of what wealth and success actually look like will vary so much based on your own identity. I think a lot of this will be made up of, just in general, your money mindset, which is another complicated topic. I do have a previous episode on money mindset if you want to go listen to that. But I think a lot of it also plays into your identity and how your identity has influenced the way that you move through life. So how do you feel that your identity influences the way that you feel about money? These are just some of the examples of how your identity impacts your money. And I am super passionate about taking an identity based approach to personal finance. Our tagline here at Queerd Co. is Keep Finance Personal, which is also why this podcast we chose to name it Keep Finance Queerd kind of like a combination of the two. But the whole idea behind Keep Finance Personal is that we need to enter the person in the conversation of personal finance. You will not find a sustainable financial plan that works really well for you without acknowledging the aspects of your identity and how that plays into the decisions that you make. But once you're able to figure that out, and I hope that this podcast was a good starting point, once you're able to figure that out, then you can create a plan that isn't a cookie cutter approach to personal finance and it's actually individualized to your life, to your identity and it's just going to be the right fit for you. One of the most important things when it comes to being, quote unquote, good with money is just figuring out the systems that work well for you because everyone is different and everyone needs a little bit of a different approach when it comes to money. I highly recommend that you take some time to journal about the questions that I brought up within this episode. Before I let you go, I want to talk quickly about the ways that you can get some financial support during our hiatus. Everything I'm talking about will be linked down below in the Show Notes. So I have a couple of free resources, a financial audit and an emergency fund worksheet. Definitely go and download those and get started on those if you haven't already. And I will be releasing a lot more free resources in the next couple of months. Also make sure that you're following me on Instagram and TikTok. That's where you'll get the most up to date information about any freebies that I have coming out and any programs that I have coming out as well. If you're looking for more support with your finances, then I would highly recommend one of my mini courses. Our mini course library has six different financial mini courses. Manage your money, build your budget tackle your debt, grow your savings master your mindset and change your habits. So you have six different mini courses to help you out with whatever area of your finances you're struggling with. And there's also a couple bundle options if you want to get more than one, if you want the full meal deal and you're like, I want to know all of those things, then thriving on a budget, my signature financial program would be the option for you. This includes all of the information from the mini courses plus more. And you also get access to me in a Facebook group where you can ask me personalized questions about your financial situation. I also do currently have openings available for one on one financial coaching. There's a couple of different packages available for this. This is definitely more of an investment, but if you want one on one personalized support, you want me in your finances, helping you out, helping you create a plan, then that would be the thing for you. The application again is going to be in the Show Notes and a very exciting newish offer is that I am doing business coaching as well specifically for ADHD entrepreneurs. So I have a couple of amazing clients right now and I have space for one or two more clients for business coaching. If you're interested on how to scale your business without burnout in a way that fully supports your ADHD or neurodivergent brain, then you'll want to apply for one on one business coaching and I will help you do that. I also am going to be launching a very, very exciting mastermind with my friend Charlotte from Save Live Thrive. The announcement is going to be coming very soon after this episode is out, so make sure that you keep an eye out on my Instagram for that announcement. Last and final way to work with me is that I actually am going to be launching a group program specifically for my Neurodivergent folks in October. So if you are neurodivergent and you've been looking for money support, this is definitely going to be the best option for you. And again, that's coming out in October, so make sure you're following me on social media to hear about that announcement. Thank you all for tuning in to the final episode of season one of Keep Finance Queer. Again, thank you all for your support. Thank you for everyone who subscribed and listened and rated and reviewed the show. If you haven't, please subscribe and leave. A review really helps us out and it really helps Keep Finance Queered be seen by more people. Feel free to DM me on Instagram and let me know what you would like to see in season two of Keep Finance Weird and I can't wait to come back bigger and better in 2023. If you enjoyed this podcast episode, we'd love it if you would share a screenshot on your social media and tell us what you loved about it. If you'd like to support the podcast, you can subscribe to the show rate and leave a review on Apple Podcasts or Spotify. I will be donating $1 for every review left in the first six months to organizations that our podcast guests have chosen. Thank you for listening. And remember to keep finance Queerd.