The Money with Katie Show cover image

The Money with Katie Show

Chelsea Fagan & Berna Anat on Building Resources with Community, Taking Action Offline, and Consumerism

Dec 30, 2024
Chelsea Fagan, co-founder and CEO of The Financial Diet, and Berna Anat, co-founder of New Dimes, dive into the evolving relationship between women and money in 2025. They discuss building coalitions offline to create change, especially for first-gen wealth builders. The conversation tackles the socio-political impacts on personal finance, the class divide, and the importance of political engagement. Both guests emphasize the necessity of authentic community support and accountability, inspiring listeners to take action beyond social media.
48:20

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Quick takeaways

  • Effective financial planning is crucial for couples navigating significant life decisions, ensuring they remain within their budget while preparing for future expenses.
  • Proactive financial education and community engagement empower women to safeguard their assets and navigate uncertain economic and political landscapes.

Deep dives

The Benefits of Financial Planning

Financial planning is essential for significant life decisions, particularly for couples considering major purchases and future expenses like childcare. Emma and Tom, for instance, sought guidance to understand their home-buying capacity in New York City while planning for potential childcare costs. By partnering with a financial advisor, they developed a tailored savings strategy that prevented them from exceeding their budget by almost a quarter of a million dollars. This example underscores how effective financial planning can mitigate costly mistakes and set individuals or families up for long-term financial stability.

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