At Cashmere, our main ethos is to empower the aspirational female consumer to reach her lifestyle goals by equipping her with the best tools to build better financial habits.
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, 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.
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 the 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.
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.
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 it was very informative. I’m truly excited about getting my finances in order.
The venue and food/drinks 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.
Cashmere is a smart savings app that empowers women and girls to be better with their finances so that they can have access to the lifestyle they desire. Join our community here.
Words by Urenna Okonkwo