The Purse
The Purse
Global liquidity has hit an all-time high as central banks print more money, almost 50% of working mothers were laid off due to lack of childcare during the pandemic and we're tracking Angel City
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Global liquidity has hit an all-time high as central banks print more money, almost 50% of working mothers were laid off due to lack of childcare during the pandemic and we're tracking Angel City

Weekly newsletter for women who want to be smart about money: financial news, personal finance and investing

Welcome to our #30 weekly newsletter in 2020.

Every week we curate key content and apply a female-lens so you can stay informed and inspired about money and investing.

Stay in the know.

Keep on top of global economic, financial and investing news and trends. And read about what this means for you and your money in 2020 during Covid-19 and beyond.

If you’re short on time, listen to the editorial on audio for a brief overview.

“Our mission is to help women take control of their financial future”

-Jana Hlistova

Photo: Christina @ wocintechchat.com 


From The Purse…

Editorial from the Founder


Global liquidity has hit an all-time high due to central banks around the world printing money.

The global stock market has rallied since late March for this reason and despite the damaging impact the pandemic is having on the global economy.

Tensions between the US and China continue which is unnerving investors.

It is not surprising that we are seeing the price of gold and silver go up.

The EU has agreed on a €750bn recovery fund which will provide grants to countries in most need of a Covid recovery.

UK retail sales beat June forecasts and business output hit a 5 year high in July. However consumer confidence has not recovered since the lockdown was lifted as consumers worry about losing their job and continued health risks.

The International Monetary Fund (IMF) is urging swift action by governments to protect women from the Covid-19 economic hit. And the World Economic Forum (WEF) writes about how women can help a green transition.

Read about what the ultra wealthy are doing with their money and how unmarried parents should protect themselves financially.

Shares in UK pharmaceutical company, Synairgen Plc soared 552% after it said that its inhalation product cut the risk of developing the worst symptoms of Covid-19.

In the Have You Seen This? section, read about Emily Kramer, who was VP of Marketing at software start-up Carta, where she helped to bring more diversity and transparency to the cap table. On Tuesday she sued her former employer for unequal pay and other forms of gender discrimination.

We highlight a survey carried out by Pregnant Then Screwed, which said that almost 50% of working mothers were laid off due to lack of childcare during the pandemic.

And we’re tracking Angel City-the new all women’s football team in Los Angeles funded by high-profile investors such as Serena Williams and Natalie Portman. Even Serena’s two-year old daughter is an owner. We like that a lot.

Check out our new podcast interview with Shelley Kuipers who co-founded the financial feminist platform The51. We talk about how she started on her investing journey, why female founders are designing and building the world they want to see, why impact investing is the future and more.

Stay safe, look after yourselves and your loved ones.

I hope you enjoy this week’s newsletter. Until next week,

Jana


The Big Picture

Global markets and economy news, trends and indicators


The Coronavirus Effect:

  • EU recovery fund is agreed: €750bn

    • The EU will raise commonly-issued debt and provide as grants (in the main) to countries most in need of a rebound.

    • The deal has two elements:

      • the regular EY budget worth nearly €1.1trn ($1.3tn) over 7 years;

      • a one-off ‘Next Generation EU’ fund of €750bn to help countries recover from the Covid-19 recession.


Future Focus

Keeping an eye on key predictions, innovations and what’s going to impact the future



Your Money

Insights, trends and what this means for you and your purse


  • UK: Unmarried parents: key financial considerations

    • Almost half (48.5%) of babies were born to unmarried parents.

    • The average age for women to have their first child was 30.7 years in 2019.

      • Ensure you have a will specifying what your child/unmarried partner will inherit (in case of death).

      • The birth mother will have parental responsibility but the birth father will need to register for parental responsibility.

      • Both parents are jointly responsible for providing financial support.

      • Drafting a co-habitation agreement can set out how money will be managed; who owns what and what will happen should the partners split up.


Companies to Watch: winners & losers

Companies to watch and share price movements



In the Spotlight

Is there a topic you'd like us to Spotlight? Please tweet @jointhepurse


What role will the US dollar play in the Covid recovery?

  • According to the IMF, the dollar’s exchange rate will be a key factor in how quickly the global economy recovers.

  • The US dollar is the dominant ‘invoicing and financing’ currency.

  • Exports are mostly priced in dollars (plus commodity markets): demand does not go up when the domestic currency weakens.

  • Because 23% of exports are invoiced in US dollars, it has become a key driver in global economic growth.

  • When the US dollar strengths, imports are expensive which reduces demand.

  • With the number of coronavirus cases on the rise and investors wanting to hold the US dollar, the dollar exchange rate could increase.

  • And a higher dollar exchange rate will limit global trade and economic activity.

  • Source: IMF and the FT.


Have You Seen This?

Female-focused news, reports, research, campaigns


Know this: Pension funds are designed for full-time workers who do not have a break in employment. Women tend to take career breaks, take on low-paid or temporary employment but live longer. Seek advice about how you can make up for any income shortfalls.

Know this: a significant amount of wealth is created from company ownership. Much like the gender salary gap, the average woman equity holder holds significantly less equity than the average man holder. This is why it is crucial that women entrepreneurs know how to protect their equity when raising investment. And women who work for startups should seek advice (at the very least negotiate ie think 30% increase) before they agree to equity and/or employee stock options. Remember: every time you aim higher, negotiate and protect what is yours, you grow your net worth and ensure your long-term financial future.

Know this: ‘maternal wall bias’ is a form discrimination many working mothers experience. And it occurs when colleagues view mothers—or pregnant women—as less competent and less committed to their jobs, and it limits the extent to which women can advance in their careers. If you have a partner, it’s important to agree that childcare is equally split between you. Seek out employers who genuinely support you and your work.

Share The Purse


What We’re Tracking

Female-focused products or services, start-ups and businesses led by women, investment and research.


  • Angel City: (US)- a new Los Angeles all-women football team is being funded by high-profile women such as Serena Williams, Natalia Portman to launch in time for the 2022 National Women’s League Soccer League season.

    • Serena Williams’ husband Alexis Ohanian is also listed as part of the ownership group, as well as their two-year old daughter Olympia.

    • The group includes 14 former US national team players, actresses Eva Longoria, Jennifer Garner, Uzo Aduba, Jessica Chastain and America Ferrera, plus investors from the technology and media sectors

  • Forerunner Ventures: (US)-the early-stage venture capital firm known for its consumer focus, founded by Kirsten Green who is Managing Partner, has raised $500m in the middle of the pandemic.

    • It has invested in companies including Glossier, Warby Parker, and Birchbox.

    • This is their 5th fund and an increase of 39% on its last fundraise in 2018.


Money Habits of the Week

Do you have a money habit you would like to share with us? Tweet @jointhepurse


Follow the ‘energy’ to what interests you in terms of money and investing so you commit to learning on a daily, weekly and monthly basis.

Are you interested in how remote technology is changing the future of work?

Or are you drawn to women’s health and femtech in particular?

Are you excited about how women’s wealth can power female entrepreneurs?

Or do you want to join a community of women who are on a similar learning journey to you?

Whatever it is: decide to take one step towards that goal this week.

Tell us how you’re getting on @jointhepurse.


What We’re Watching


  • Watch this TED talk: what if your attachment to being a ‘good’ person is holding you back from actually becoming a better person? Social psychologist Dolly Chugh explains why it's hard to spot your biases and acknowledge mistakes and shows how the path to becoming better starts with owning your mistakes.

  • Dolly Chugh is a social scientist who studies the psychology of good people.


Coffee Break? Read This



We’d love to hear from you. Get in touch with Jana via the The Purse website or tweet @jointhepurse and @janicka.