At Cashmere, our main ethos is to empower and encourage modern women to indulge in the luxury goods and experiences they desire, without feeling guilty or dipping into their personal savings.

As a result, in 2019 we launched our “Be Your Own Sugar Daddy” workshop series, covering important topics such as Saving & Budgeting, Investing, Property, Pensions, Debt Management, and Personal Protection/Insurance.

Our first workshop was held on 24 January at Rise, London covering Saving & Budgeting’. The workshop was co-led with Abiola Olaore, founder of Active Budgeter and was split into 2 sessions; the first being a 30 minute presentation led by Abiola and the second being a SMART goal setting session led by Abiola and I.

Abiola explaining the 3 ‘Wealth Circles’.

In session 1, Abiola talked through the benefits of using cash in a ‘tap and go’ society, how to effectively budget using the ’50-20-30′ rule, how to be realistic when setting your savings goals so that you don’t end up having to dip into your personal savings towards then end of the month, and lots more.

In session 2, we went through setting our SMART goals for 2019. We broke them down into short term (within 3 months), medium term (3 months to 12 months) and long term (over 12 months) goals. We also looked through our bank statements to identify what expenditures we could reduce, such as phone bills, takeaways, etc and what expenditures we could completely get rid of, e.g. unused subscriptions. We then wrote down practical steps we were going to take in order to ensure we reduced our expenditure and have more disposable income that we could add to our savings.

Group goal setting session.

Additionally, we also went through the Active Budgeter budgeting template, which is a downloadable Excel template. It allows you to add your information to track your monthly and yearly plans.

Abiola talking through her budgeting template.
Going through the Active Budgeter budgeting template

The workshop was a huge success and all our attendees found the sessions really useful. Some of our attendees made the following comments:

Thank you so much, this was literally one of the best events I’ve attended EVER and so- very informative. I’m truly excited about getting my finances in order.

The venue and food/drink helped us to avoid extra expenditure upon attending a finance event, so much appreciated! The hosts were all so well informed. All the resources- (meeting room, worksheets, etc) were so helpful and very practical.

Following the workshop, we added all our attendees to our accountability WhatsApp group. Members can keep up to date with each other’s goals, share money tips and hacks and share money-related content.

Setting financial goals for 2019
Elena, one of our attendees, sharing tips on how to save money on takeaways.

Our next workshop, ‘Introduction to Investing’, will be in March (exact date TBC). To stay in the loop, join our mailing list and follow us on Instagram and Twitter.

Cashmere is a smart savings platform that helps fashion-conscious millennial women save towards and buy luxury goods and experiences guilt-free and without having to dip into their personal savings. Sign up and join our community here.

Words by Urenna Okonkwo

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