Penny Collicoat | Who's Your
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Penny Collicoat

Founder of Women With Edge Financial Planning
Penny is a financial planner who is passionate about ensuring women receive sound financial advice. As creator of Women With Edge Financial Planning, Penny provides women with the guidance, resources and skills to take control of their finances and their futures, educating them in not only what they have, but also what they can create. Repeat after Penny; “A man is not a financial plan!"

Name:
Penny Collicoat

Home is…
Melbourne, Victoria

What do you do?
I am a financial planner and business owner

Describe Women with Edge in one sentence…
Women with Edge is a practical and down to earth financial planning solution designed for women.

When and why did you decide to start your own business? Was there a specific event or person that was the turning point?
I decided to start Women with Edge after talking to my friends and clients and realising how foreign investment concepts, and more to the point, financial basics were to them. They weren’t comfortable talking about finances and were afraid to ask questions. I wanted to make sure that women could access financial advice in a non-intimidating environment so they could put some basics in now to set them up for their life and retirement- simple financial security.

Why do you think now, more than ever, women need to start thinking about their financial situation?
With a greater push on pay equality and flexible work places where women can continue careers more easily, women are earning more and often more than their partners. However, somehow there is a disconnect with actually managing that money and ensuring that you put some simple things in place now, to allow you to enjoy your retirement. Everyone, not just women, can do simple things with their super and savings that can ensure they sleep soundly at night knowing what they have and what their financial plan is.

Describe your workspace…
My workspace is open and light with a list of “Bullshift Principles” (Google it, they’re great) on the wall, along with some of my girl’s drawings.

Most treasured item and why?
My most treasured item is a silver ring given to me by my husband when he proposed. He asked my daughter for permission to marry me and she kept it a secret for two weeks (at the age of 4) When my “proper” engagement ring wasn’t ready in time for his proposal, he took her to a jeweler and they picked the ring together. I now wear it on a chain around my neck.

What is the first piece of advice that you give people who may be struggling financially?
I would always take a look at what they are doing financially as a whole. Where have they been spending money? How much do they earn? Can they switch a credit card to a 0% interest rate? Every situation is so individualised that you need to spend time with them and chat about what’s going on. Generally people know where they are going wrong, it’s just changing the behaviour and putting in steps to stop the bad habits.

Who do you look up to and admire?
There are many people that I admire and they are in different areas. There are some that are starting up their own companies and their drive, passion and dedication are truly inspirational. There are Mums that I look at interacting with their children and I am blown away and there are the ‘Sheryl Sandbergs’ of the world that you can learn so much from.

What’s your ‘girls run the world’ chant?
A man is not a financial plan!

How would you spend your perfect Sunday?
With my husband and 2 girls all snuggled up in bed watching a silly comedy while it rains outside.

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