Tiffany Bukow, Founder of Bolsa Cheia
BayBrazil: How Bolsa Cheia will help women in Brazil?
Tiffany Bukow: Bolsa Cheia will use the power of social networking to spread the word amongst Brazilian women about fiscal fitness and why it is so important to them, their families, communities and Brazil. The Internet and mobile applications will serve as a excellent delivery tool for not just personal educational content but also money management tools Bolsa Cheia will deliver to its members.
BayBrazil: What are the resources available for women to save money without compromising their lifestyle?
Tiffany Bukow: We plan to offer a service that allows women to list all the bills they pay and see if they can lower these by looking alternative product and service providers. It is possible that just by switching companies women can save $50 a month or more without sacrificing anything except of a few minutes of their time.
BayBrazil: You say women can live at half of the price. Please tell us how.
Tiffany Bukow: Brazilian women not only paying the household bills 80% of the time, they are also doing the majority of shopping. Often they don’t do comparison shop to find the best deals or don’t know how dramatically things are dropped down at the end of the season. With just a little education, resources and tools, they may be able to live their life at half the price in the same style they are used to.
BayBrazil: Are women’s financial needs different than men’s?
Tiffany Bukow: Women are more risk adverse than men, they take more time out of the work force than men, make less than men, and they live a little longer, which means they should have different financial strategies than men. They also care about others in their community and are more likely to donate to worthwhile charities and micro-lend to women entrepreneurs to help them start their businesses. This is why Bolsa Cheia are also including those services in our platform.
BayBrazil: What are the main steps women should take to be in control of their money?
Tiffany Bukow: 85% Brazilian women don’t understand the impact compounding interest on their credit cards affects their overall purchase prices. As result, they end up spending so much more than they should on many things. By taking just an hour or so a week to learn the fundamentals of personal finance, they can be hugely empowered to make wiser financial choices.
BayBrazil: According to the US Bureau of Labor Statistics, for every dollar a man earns, a woman earns 80 cents. What are your hopes for income equality?
Tiffany Bukow: My hopes were by this time in history we would see greater equality of same work and same pay. However, it hasn’t happened. The good news is that once women are educated on their job worth they will not stand for inequality anymore and will demand higher salaries.
BayBrazil: What is the number of female-owned businesses in Brazil compared to the U.S.? How successful are they?
Tiffany Bukow: In the U.S. you see women starting small businesses at twice the rate as men. In Brazil you see in their “informal” market many Brazilian women making a living by selling arts, crafts, clothing and other items. However, they still have a long way to go to see the type of success that American women see with their businesses. Bolsa Cheia is just the type of company that can empower them not only with education but also with the resources to be successful.
BayBrazil: You are considering to move your family to Brazil for a few years. Why did you choose Brazil?
Tiffany Bukow: My husband grew up in Rio and is a Brazilian citizen. I have spent a lot of time in Brazil and it has a magic few other countries can boast. It is very important for our children experience the wonders of this amazing culture of bright, energetic and loving people and carry it in their hearts throughout their lives.