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Sydney-based chartered accountant Julia Scott has built a business on educating and empowering women to manage their own money and generate wealth.

Through Love Luck Wealth, she helps her clients look at wealth accumulation from a fresh perspective.

“We forget that for thousands of years, women haven’t been managing money. This is all actually quite new,” she said.

“Like my mother, even up until the late 70s, couldn’t apply for a credit card without her husband’s co-signatory, even though she was a breadwinner.

“That’s not all that long ago, and all of these little stories are in the psyche of women everywhere.”

Despite her career in finance, Julia Scott struggled to manage her own finances after divorce a decade ago. She said she realised that she had to take back control.

“The epiphany that I had was that money is emotional,” she said.

“It forced me to wake up, it forced me to stop being subservient and to take control of my life in a good positive way.”

As she began to rebuild, she traded Exchange-Traded Funds (ETFs) using the platform offered by her long-term bank, nabtrade online trading.

“It was just easy. The fear dissolves when you start taking action,” she said.

“You don’t have to put $10,000 in to start with, you can just go small, dip your toe in the water, have a play around with it, see how your risk profile is going, because some people get really anxious and share trading might not be for them.

“I believe ETFs are a great way to get diversification without over-thinking and picking individual shares, because that’s really hard work.

“All the statistics out there show investing in quality diversified shares gives you a good return over time.”

She recommends women keep their own “stash of cash”, and she approaches her work with clients in a holistic fashion, including introducing the principles of Feng Shui.

“There are lots of little idiosyncrasies in Feng Shui that you can tweak to align your surroundings for your financial success,” Ms Scott said.

“I just figure why not come at money from all angles; it just makes sense.

“For thousands of years, we’ve been doing money the masculine way, and women, I believe our strength is our natural intuition and our wiring to nurture, so I figure why not do money the feminine way.”

Disclaimer

WealthHub Securities Limited ABN 83 089 718 249 AFSL 230704 (WealthHub Securities) is a Market Participant under the ASIC Market Integrity Rules and a wholly owned subsidiary of National Australia Bank Limited ABN 12 004 044 937 AFSL 230686 (NAB). NAB doesn’t guarantee its subsidiaries’ obligations or performance, or the products or services its subsidiaries offer. Whilst all reasonable care has been taken by WealthHub Securities in reviewing this material, this content does not represent the view or opinions of WealthHub Securities. Any statements as to past performance do not represent future performance. Any advice contained in this communication is general advice only and has been prepared by WealthHub Securities without taking into account your objectives, financial situation or needs. Before acting on any general advice or information in this communication, we recommend that you consider whether it is appropriate for your circumstances.

WealthHub Securities recommends that you obtain and consider the relevant Product Disclosure Statement, Terms and Conditions, Financial Services Guide or other disclosure documents available at nabtrade.com.au before making any decision about a product including whether to acquire or to continue to hold it.

Visit nabtrade.com.au for the terms of use about the nabtrade service (nabtrade) provided by WealthHub Securities. nabtrade is the information, trading and settlement service provided by WealthHub Securities.

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