Book Review: The Financially Empowered Woman by Tracy Theemes

Working in the financial industry is truly a privilege. Participating in people’s money journey when our clients have the means to pay us and make changes to their financial situation is a great, great job. What isn’t easy is to see people struggling with their money and not know how to help them. Some people just don’t make enough money to be able to make positive changes or even afford what they need. Some do not have the financial knowledge to make changes because of their circumstances or backgrounds. A mentor of mine once said to me “you just want to help everyone,” and it’s true. The Financially Empowered Woman is truly inspiring, reading how Tracy Theemes has used all of her financial knowledge and community to empower so many women.

In a sense, because of my own career path, I also feel a sense of duty to help others. Theemes has the theme “help others” in everything she does, from her business model in creating a financial service specifically for women, to giving back to her community by creating Sophia Wealth Academy: Everything a Woman Wants to Know in a Day about her Finances. The academy has had hundreds of participants and raises thousands of dollars for the local charitable organization, Dress for Success. I feel renewed inspiration to share my own knowledge and empower my own community after reading this book.

Who should read it?

Anyone looking to be empowered by what they can do with their money. If you are feeling like you have never been in control of your finances, or if you are feeling like you need motivation to do better, do more or exert some money power (or exert your financial superpowers), you should read this book.

Not only is Theemes’ own journey inspiring, so are her revelations around money behavior and why women don’t feel empowered when it comes to finances.  If you need to know where you are today with your finances, how to get ahead and how to stay on track with your money, this book has it all. Financial literacy topics are discussed in a way that connects with women, which is really refreshing to read for a personal finance book to be honest!

If you only have time to read one chapter:

Chapter 3: Our Money Relationship. This is the enlightenment chapter.

Theemes encourages women to identify the role that money plays in their own life, drawing in support from other sources where required. We encourage women to approach this proactively, before some major life change propels them into it, because it isn’t just about money, it’s about stepping up and taking control of your life.

The women who have made the greatest leaps in financial empowerment are those who have had their marriages fail. Divorce can be the first time that a woman is forced to understand her money and this is powered by a necessity. There is also something to be said for anger as a motivator. It is amazing how quickly you can understand an investment portfolio or net worth statement when you are fuming. It often takes the experience of having hopes dashed and expectations shattered before some of us face the demons of our financial dependence. It is unfortunate that it takes such a shocking, negative situation to force our emancipation.

If you only have time to read one paragraph:

Chapter 3: The Money Relationship

“This book is about helping women know what questions to ask, how to ask them and where to find the answers. Mostly it’s about being on a journey, sharing what works so that we can be smarter and wiser in the steps we take, while creating a sense of well-being about the process. I want you to know that you are connected to all the other women who are out there, moving along the path, sharing some laughs and maybe a couple of tears as we put one-foot in front of the other, and encourage each other to keep going! Tracey believes it is your birthright to maximize your potential, to put your financial house in order and step into your own financial empowerment.”

If you only have time to read one sentence:

Chapter 4: Money Through the Gender Lens.

“If managing money continues to be on men’s sociological, economic, linguistic and cognitive predictions, it’s going to feel inauthentic and daunting for us to try and fit into those paradigms.”