Fix Your Finances: With Effie Zahos

“It is never too early or late to fix your finances.” Effie gives us the financial tips every female needs.

Effie Zahos is a Sydney based, financial commentator, the editor of ‘Money Magazine’ for 20 years and author of her new book ‘ ‘A Real Girl’s Guide To Money:From Converse to Louboutins’.

Effie spoke to Bondi Beauty about her top tips and tricks to financial stability and gave insight into money management. She says this an essential tool for a woman to have in her back pocket.

Q: What inspired you to write the book ‘A Real Girl’s Guide to Money’?

'A Real Girl's Guide to Money: From Converse to Louboutins' By Effie Zahos
Effie’s book is written in a way that reading it feels like getting friendly financial advice over a coffee.

“I wanted to get a message across to young women, that it is a must to be better with your money.”

“You can’t sit back and do nothing, because no one’s going to help you but yourself.”

“The strategy is to make money no matter what gender you are, although the issues that women are facing are quite different at different times of their lives. I talk about this in the chapters ‘Help I’m Pregnant!’ and ‘I Want to Leave Him But Can’t Afford To’.”

“I have an 18 year old daughter and don’t want her to struggle with money and make the most of whatever income she has, no matter how big or small.” 

Ultimately, the aim is to stop spending and reflect on each financial decision before committing to it.

At what age should women start thinking about finances?

“It’s never too late, although it is easier when you start earlier, due to the power of compound interest,”

Why do you feel financial security is important for women?

“What is happening in the world right now, is that 40% of single women are retiring in poverty.”

“Although the number one issue is, be financially stressed no matter how much money you make, the aim is to get the monkey off of your back.” 

“As it’s not about being the richest person, it is about not borrowing money and being able to save a bit a week. The goal is financial wellness.”

What are the first steps to financial security?

“Automate your savings by paying yourself, think of saving as an expense. Organise your finances into ‘buckets’ (different bank accounts) such as a holiday account.”

“Also change your behaviours and attitudes towards finance by becoming accountable for your spending and taking stock of your account.”

What have been the best financial decisions of your life to date?

“Automating my savings, buying my shares very early on, and buying into property.” 

What has been the worst?

“Being complacent with my money in general, and missing out on money opportunities due to not consulting experts in how to better manage my shares.”

What do you believe is the best financial tool for a woman? 

“Knowledge of money, her investments and so on.”

How do you recommend a woman approaches finances within her relationship? 

“In the chapter ‘I’m so in love’, often communication is not done enough, there is a lack of money conversations,”

“When having these discussions you can’t be aggressive , it is about learning how to approach your partner”

“Make it fun much, like a date night, make it positive and establish what your goals are.”

And finally is there any financial advice you would have liked to have given your 20 year old self?

“I wish I had salary sacrificed into my super from day one.”


1. Automate your savings, this is having a portion of your pay go automatically into your savings account. 

Effie Zahos, Money Magazine Editor's top finacial tips and tricks
Effie talks top money tips.

2. Engage with your super “sacrifice your salary”, deposit extra money into your super when you can afford it for example at the height of your career. 

3. Don’t be embarrassed of your financial status, “if you can’t afford it, you can’t afford it.” Often women in Sydney get caught up in having the latest and greatest, but ultimately they would be happier with an identical shirt from ‘Target’. 


  1. “Don’t get so busy that you forget” about your finances

2. Remember children cost money, when deciding to have children think about whether you are financially capable. If you already have children learn to budget better and you can spoil your children with time rather than money. 

3. We are living longer, so that means a more expensive retirement. Hence start saving sooner and salary sacrifice into your super especially when you are at the peak of your career.

Effie Zahos talks to Bondi Beauty about her top financial warnings
‘From Converse to Louboutins, A Real Girls Guide To Money’ is in stores now.

You can find more of Effie’s priceless advice in her new book ‘A Real Girl’s Guide To Money: From Converse to Louboutins’ or by following her on instagram, twitter or facebook.

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