Money Talk with Vivi Founder Blackbullion
In this interview series we chat about all things money (sans-shame) with an array of inspiring women from all walks of life. Our goal is to break the money taboo, share mutual experiences and learn from our amazing community.
“It was only when I went into wealth management in the first part of my career that I realised how few people had access to great financial education – and started to imagine what would happen if more of us had this. It’s why I started Blackbullion.”
Hi Vivi! Please give us a little background about yourself.
I am the founder of Blackbullion, an award-winning edtech company working with universities and employers to empower young people to take control of their finances . Prior to founding Blackbullion, I was a financial management expert, spending almost a decade managing the wealth of high net worth families and individuals.
What are your passions?
Family. It’s everything to me and has shaped our culture at Blackbullion. Also reading and writing – I’ve been keeping a journal since I was 13. Last year I made a New Year’s resolution to read at least one non- fiction book a week and made it to 54. I’m doing the same again this year and wake up an hour early to have that time.
I’m also deeply passionate about politics. And travel. I love to travel.
What’s your secret to career success?
For me, it’s always having people around me who I can depend on, rely on and who are smarter than me. I don’t like to use the word “mentors” but it’s people who will shine a light ahead for me and be brutally honest at the same time.
The saying “it’s not what you know but who you know” is truer than ever, meaning you can tap into an incredible network to make incredible things happen. In a world obsessed by automation, we need people around us who can anticipate change and guide us through it.
The more the robots rise, the more being human will matter.
What’s your relationship like with money and personal finance?
Super-healthy thanks to my parents. My mum was deeply affected when her dad died young, leaving my grandmother without the right paperwork and financial security. She engrained the importance of financial education and freedom into my brothers and me from an early age. But it was only when I went into wealth management in the first part of my career that I realised how few people had access to great financial education – and started to imagine what would happen if more of us had this. It’s why I started Blackbullion.
Has money ever been a source of stress for you? If so, how did you manage?
It has been since I started the business, especially in the early days. I bootstrapped the business with personal funds from my redundancy pay-out, and had to take out personal loans at key growth stages. It was absolutely a considered risk, but was definitely the most stressful period of my life. Financial anxiety is deeply connected to mental health which is why financial well-being is so important to us as a business.
What do you feel is the biggest obstacle women tend to face when it comes to careers and personal finance?
With personal finance, ironically, it’s having kids because it takes you out of the workplace and inevitably impacts your career. So there’s breaks in your earning potential. I also think that, because most FAs are men, how they share financial advice doesn’t always connect to a woman’s world view. We’re seeing this shift as more women become engaged in the personal finance conversation.
Have you ever experienced a financial epiphany? A sort of wake-up call, where you suddenly think - “I must start doing things differently”?
When we moved into our new WeWork offices, we had an onsite barista and I realised I was buying my coffee every day – which, by the way , I think is a totally allowable purchase. So I saved my coffee budget and invested it in the stock market. I believe that starting is the most important part of any financial plan and starting small yields huge when it comes to investing in our futures.
What is the best piece of money advice that you received?
I got this one young: save the money the day that you get paid. Don’t rely on having leftovers at the end of the month. I pay into my savings via a standing order the day I get paid and work from there.
What does financial independence really mean to you?
To me, it’s freedom and choice to do what works for you – whether you’re leaving a job you hate, starting a business you love, or getting out of an unhealthy relationship. I have strong views about not using money to buy crap. Use it to create opportunities and options for yourself, to live a life you love.
What’s the one thing you don’t feel guilty indulging in?
It sounds cheesy, but it’s truly my well-being – a massage, manicure or a nice dinner. I do spend money on myself when I feel I need a lift. After a tough week last week, I spent £30 on flowers because they cheered me up. I also fly home to Australia twice a year and it’s honestly the best money I spend all year.
What is the best financial decision you have ever made? And your greatest long term investment?
My property – I brought my apartment just before the market went crazy. I also like to think it was setting up my business but it’s still an unknown and I don’t think you can go wrong in property.
If you could travel back in time, what single piece of advice would you give your younger self (relating to money or otherwise)?
While I don’t think regret is a healthy emotion, when I was 21, I was earning big money at the beginning of dotcom boom. My boss asked if I wanted to go in on an apartment in Melbourne he was buying but the thought of being tied down long-term to Melbourne didn’t appeal (great city but I'm a Sydney girl!). The flat’s now worth in the millions and I realise it wouldn’t have tied me down in hindsight!
What does Vestpod mean to you?
For me, Vestpod is all about community and how we have to take responsibility for our own financial futures. With the work Emilie’s doing and the education out there, there’s really no excuses to hide behind.
What are your plans/goals for the future?
My main goal is to build a successful and sustainable business, and to take Blackbullion to its full potential as a global player in financial literacy. I like to dream big.
Favourite book and podcast?
I’m not a podcast person – I’m a hugely visual learner. I’m fascinated by the difference between management and leadership and hugely recommend Team of Teams by General Stanley McChristal and Turn the Ship Around by L. David Marquet. Both explore how to give your team ownership of your overall mission. When you empower people and give then trust rather than just responsibility, they’ll do great things.
@blackbullion is an e-Learning platform for those that want to be smart about money.