What happens when women talk about money?

Only good things!

Last year around this time, I was having drinks with a few of my Fortune colleagues when we started talking about our favorite interviews. My coworkers have talked to some pretty impressive people—movie stars, tech billionaires, heads of state, etc. I also have had the chance to interview a few big names. But when I think back through the interviews I’ve done over the years, my favorites are always the real women I spoke with about their personal money stories when I worked at Refinery29.

I was always amazed how generous these women were with their stories. They would get on the phone with me, essentially a perfect stranger, and share some of the most intimate details of their personal lives, which I would then transcribe and turn into an article that other women could read and relate to. Most of the time, the articles wouldn’t include their full names, and I think that cloak of anonymity allowed them to feel comfortable talking to me. Unlike a celebrity, they had no real agenda. They just wanted to tell their stories—and if their experiences helped other women, all the better.

So when Barbara Ginty asked me if I wanted to team up with her and do a special series for her podcast, Future Rich, where we talked to real women about their money, I jumped at the chance. The women who joined us not only shared their full names, but they agreed to be on video. I think their willingness to be so open speaks to how our culture is shifting, and to how more women feel more comfortable talking about their finances out loud.

The four women we interviewed came from different parts of the country and had very different life experiences, and yet each of their episodes has a takeaway or two that can apply to almost anyone’s life.

Nina works in media in New York City, and like so many in the industry, she has experienced more than one layoff over the course of her career. While her emergency fund allowed her to stay afloat in recent years, she now finds herself trying to rebuild it once again, never getting ahead like she wants.

Kelly (who uses they/them pronouns) lives in Wisconsin, and they became a stay-at-home parent after losing their job during the pandemic. The child of divorce, Kelly suffered a lot of financial trauma growing up that they are trying to work through as an adult and not pass on to their own kids.

Amy, a Brooklyn mom and small-business owner, is like so many women in this city: part of a dual-income family who earns good money but not enough to be able to afford a bigger apartment for her growing kids.

Skylar is based in Virginia and works in higher education. She’s the primary breadwinner, and her husband dreams that one day she’ll make enough money so he can retire.

In these episodes we talk about everything from whole life insurance (and why it’s not the best option for most people) to the skyrocketing cost of daycare to how to rebuild an emergency fund (unfortunately, it’s usually a slow process). I came away from talking with these women feeling like I did when I worked at Refinery29: hopeful and excited.

So what happens when women talk about money? In my opinion, only good things. It’s not always easy to be open about your finances, but sometimes it can have literal payoffs. A couple of weeks ago, my friend Bobbi Rebell recommended me for some freelance work (thank you, Bobbi!), and when I got the job, I had no clue what to charge the client. I called up Bobbi to get her thoughts and she was so open telling me about her own experience. I was then able to negotiate a good rate. I’m so grateful for her advice. Bobbi didn’t make it weird or uncomfortable. She understands that we’re all in this together, and when we help each other, we all win.

I feel so lucky to have people in my life who I can talk to about money, and my goal for The Purse is to share my knowledge with readers while also encouraging all of you to share what you know. Forget about the scarcity mindset. As Oliver Jeffers writes in Here We Are, one of my favorite children’s books, “There is enough for everyone.”

One of the best parts of writing this newsletter is when you, the readers, reply and tell me about your own experiences, as if we’re sitting in a coffee shop or bar having a conversation. Thank you. I’m so glad to be back talking to women about money, once again sharing their experiences and hopefully encouraging more of you to speak up and help one another. It’s really such a privilege.

xx

Lindsey

p.s. Speaking of women talking about money, the inimitable Farnoosh Torabi released her new book, A Healthy State of Panic, this week. Sure to be a must-read! Congrats, Farnoosh!