115: The Politics of Financial Literacy Julia Newbould

Financial literacy is a term that excites some, but many people are hard-pressed to get excited about it, despite its importance in how we all view, manage and maximize our money, from our first pocket money as a kid to making retirement savings last these days for up to 30 years after we no longer earn a wage.

My guest Julia Newbould is Managing Editor of Money magazine, Australia's most-read personal finance magazine. In this role, she oversees all content for the magazine, website, and podcast.  In June she started the Friends with Money podcast. Prior to that, she had been Editor at Large for the magazine, where she started as the public face of the publication through podcasts, has led webcasts for corporates such as Westpac and Aware Super, as well as TV and radio segments.

Through her various positions in financial media, it has been her overarching goal to demystify finance for more people and allow those who want to do more with their money to have greater opportunities to access the best information. Julia has spent the majority of her career in media, combining her academic background in economics and practical experience in journalism, she has contributed and led editorial and content teams for financial services publications and Top 20 ASX listed companies for the past 20 years. Since 2000, she has worked extensively with financial planners where she has gained much knowledge about personal finance and an understanding of the role professionals can play in helping people reach their personal and financial goals. In 2013, driven by a desire to see greater inroads in financial independence for women, Julia established and managed the Stella Network, an initiative supported by BT Financial Group to support women in financial planning with the belief financial planners should be more like the people they hope to serve.

Julia is an Advisory Board Member for 1Million Women and a Member of the University of Sydney Alumni Council. From 2016 to 2018, Julia served as Treasurer for Women in Theatre and Screen (WITS) and was a Women of Westpac – Global Trends Committee member.

In March 2020, her first book The Joy of Money was published. The book was written to help women become more confident around money and understand how to structure theirs better to reach life's goals.

Julia Newbould has a passion for writing, equality, theatre, 70s music, and classic film and in her spare time, when not locked down, she attends red carpet events, reads voraciously, acts as a mentor for women in business, and has been known to write reviews under a pseudonym or two.

In the podcast hear from Julia on:

Financial literacy is a term many of us never knew when we started work or had to make decisions about money we have earned – what is it and why does it matter?

What makes financial literacy work best? Is it a school subject we miss out on or is there an ongoing way we can become better at our own financial understanding all the way from first job to retirement and beyond?

The GFC and the 2018 Banking Royal Commission showed many people that trusting the so-called “smartest people in the room” with our money is not always wise. What role do advisors play and what do we as consumers need to understand as well?

Are women needing different financial literacy supports or is it not a gender-led issue? Explain and give some ideas on what financial literacy looks like for us?

Take away: What is your final takeaway message for us on The Politics of Financial Literacy?

To connect with Julia:

Linkedin: Julia Newbould | LinkedIn