'I was a hot financial mess': How Molly Benjamin went from 'money magician' to Ladies Finance Club founder

Behind every great start-up is a story worth telling – and my latest guest's journey is no exception.

In the latest podcast episode of my podcast, The Pay Off, I sat down with the founder of Ladies Finance Club, Molly Benjamin, to talk about how she's changing the way women spend, save and invest… Or as she so perfectly puts it, "Helping Aussie women get rich".

Although Molly's story is inspiring, the road to success was anything but smooth.

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"I was in London, in Sainsbury's, and I went to buy jam… I had no money", Molly reveals. "I couldn't afford jam. I was working in corporate finance and earning a good salary". 

Sitting across from Molly in the studio, seeing the success she's created for herself now, it took me by surprise. Unfortunately, it's a position plenty of Aussies are in right now with the cost of basic goods through the roof. 

To listen to Episode Four of The Pay Off with Sylvia Jeffreys, press play below or tap here 

"Would you describe yourself as bad with money back then?" I ask. 

"A hot financial mess… I'd call myself a money magician because I could make money disappear", Molly laughs.

"I had to text a girlfriend asking for money because I couldn't afford groceries… That was the wake up call."

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Molly continues, "That was my rock bottom moment, crying in a supermarket."

"I was spending all my money on silly stuff… brunches, clothes, holidays and I had no savings or investments. I was like right, something needs to change".

It took Molly facing her financial shame head on to turn things around, and now she's sharing her no-BS approach with women all over the world.

"How did you land on Ladies Finance Club… How did it start?", I ask. 

"I had read the Barefoot Investor and spoke to some of my girlfriends saying they should read this book… And they told me Molly, I'm never going to read that book", Molly answers.

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"So I thought, why don't we do a book club but a finance club in my living room? Pizza, Prosecco… We got a friend to talk to us about finances".

"So, it was born in my living room… fast forward seven or eight years, we've had around 70,000 women through the program. By the time I put on my first event in London, it sold out". 

If you've panicked looking at your bank statements, or perhaps you've broken down in the grocery shop over a jar of jam… I implore you to listen to my podcast episode with Molly. 

She shares even more insights into the importance of an emergency fund, the difference between helpful and harmful debt and how we can start having conversations about money with our girlfriends. 

The Pay Off with Sylvia Jeffreys is out now and a new episode publishes for free every Thursday. Search The Pay Off in your podcast app or tap here.

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