From Financial Crisis to Female Founder
- 5 days ago
- 3 min read
By Tammie Rimon
The memory of it is as clear today as it was all those years ago. It’s a moment that shaped my life, not just personally, but professionally. It’s the day I found myself standing in a hotel room with my three young children, a wife to a man I was about to divorce, and nowhere to go.
My husband and I had moved our family from Darwin in the far north of Australia, to Ipswich, an outlying suburb of the biggest City in the State, Brisbane. We were set to buy a home, and the conveyancer we were using at the time had put us in an unconditional contract without finance approval. All of a sudden, we were left in a precarious and vulnerable position. We had nowhere to live and a mortgage looming with no way to pay it. The stress was immense. Then the bank who had originally provided a pre-approval for us, declined our application because the valuation of the property did not support the contract price - but we were totally stuck as the contract was unconditional. For me, that hotel room felt like a financial cliff edge. I’d worked hard, but the system had let us down, and I felt powerless to protect my family.
It was during that harrowing time that we were recommended by the selling agent to go and speak to the branch manager of a different lender. He listened to our story, understood our desperate situation, and did something truly profound. He got our loan approved. In that moment, he didn't just help us buy a house; he changed our lives. He gave us a sense of security and stability that had been ripped away, and he showed me what it means to be a real partner in someone’s financial journey - a partner who genuinely cares.
That experience was the spark that ignited my passion for a different kind of finance business. It’s what drives me today as the founder of 20/20 Finance. It’s why I’m on a mission to empower women with the knowledge and tools to take control of their financial destiny and build lasting wealth. I never want to see another woman, or family, feel that sense of hopelessness because of a financial system that’s designed for transactions, not for people.
This isn’t just about my story; it’s a reality for so many women today. The statistics are stark and unsettling. On average, women have 40% less net wealth than men. More than a gender pay gap, it’s a gender wealth chasm, created by systemic issues like career breaks for caregiving, lower superannuation savings, and a significant lack of financial education.
For younger generations, the disparity is just as worrying, with Gen Z men being 31% more likely to own a home than Gen Z women. This trend continues into the millennial generation, with men 50% more likely to own their homes outright. These numbers are not just figures on a page; they are a direct reflection of the challenges women face. They lead to a shocking reality where women over 50 are the fastest-growing group experiencing homelessness.
For me, this issue is deeply personal. I’ve been a single mum myself, and I know the relentless focus on day-to-day survival that can leave no time for thinking about the future. It’s easy to feel like you’ll never get ahead. My experience taught me that what matters most is not just earning a wage but also being empowered to build wealth for yourself and your family.
This is why I believe that proactive education is the key to creating a different future. Financial literacy is a fundamental life skill that enables you to make smart choices. It’s why I created the 20/20 Wealth Club to give women a place to start - a community where they can access free webinars, resources, and tips to make informed decisions and build a more secure future. It's about providing a steady hand and clear guidance to help them confidently navigate a path to financial freedom.
I know from experience how a single, compassionate act of guidance can change everything. It's not just about getting the lowest interest rate or securing a quick deal. It's about finding a partner who sees your entire life vision and helps you work towards it, one step at a time.
If you’re struggling financially, I recommend you focus on education and learn how to leverage the power of property, then build a team of trusted advisors around you to build a more secure future. Then share this with other girls and women in your life to make sure the gender pay gap disappears for everyone. My own story is proof that even from the most difficult of situations, a moment of clarity and a helping hand can turn your financial crisis into a lifelong mission to empower others.
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