Joanna Griffiths on the money lessons that shaped her life and business

Joanna Griffiths is the founder of Knix, the innovative brand that has redefined women’s intimates and turned leakproof underwear mainstream. Joanna turned her passion for women’s health, confidence, and community connection into a thriving business—and she continues to help build it even after a successful exit.

Joanna first appeared on Dragons’ Den in season 9, where she secured a deal with Jim Treliving. In 2022, she sold a majority stake in Knix for $410 million CAD—the largest disclosed sale of a private direct-to-consumer brand by a female founder in Canadian history. She retained a 20% stake and remains president of the company.

This week, she returns to the den as a dragon. We caught up with her to hear the money lessons, habits, and heroes that have shaped her approach to wealth, entrepreneurship, and life.

Who are your financial heroes?

I am deeply inspired by entrepreneurs that have had the conviction to believe in something and the dedication to see it through to financial success. If I had to call out a single person right now, it would be Codie Sanchez. Not only has she built an incredible business and media empire on her own, but she is using her platform to help educate and inspire the next generation of what’s possible. Her advice is practical, tangible, and on point.

How do you like to spend your free time?

When I have free time, it’s all about spending time with my kids, my broader family, and my friends. I value experiences over physical things. I love to travel, ski, hike, read, and move my body.

If money were no object, what would you be doing right now?

I’m lucky enough to have had a very successful exit and to not need to work, and so I can say with 100% certainty I would still be building Knix—because I am. I’m wired to create and have been fortunate enough to build a business that is so closely aligned to the many topics that are important to me: women’s health, confidence, advocacy, storytelling, community connection, and more.

What’s the first thing you remember buying with your own money?

I want to say Roots Tuff boots when I was in grade 5. They were iconic.

What was your first job?

My very first paycheck was sweeping the floors at a hair styling school at the end of the block near my house that was part of a small strip mall.

What was the biggest money lesson you learned as an adult?

To always save a little bit of money away for a rainy day.

What’s the best money advice you’ve ever received?

It sounds silly, but don’t spend above your means. It might feel good in the moment, but the stress that follows afterwards is never worth it. I think social media has come to glorify spending in a way that is really not sustainable. My worth has never been tied to physical objects, but rather the impact I am creating and the integrity of the relationships that are important to me. Those are the things that ultimately make you richer.

What’s the worst money advice you’ve ever received?

I’m not sure if it was ever directly said, but growing up—especially as a girl—money just wasn’t something that you talked about. I think it’s important to talk about money and to have a healthy dialogue around it. Financial literacy is so important and we have to feel empowered to have the curiosity and to ask questions and to learn.

What do you think is the most underrated financial advice?

Understand your numbers. Whether it’s personal finances or a company P&L, financial literacy is key.

What is the biggest misconception people have about growing money?

That it happens quickly. Sustainable wealth is built patiently and intentionally.

What’s your take on debt?

Strategic debt can be a tool. Uncontrolled debt can be a trap. The key is intention. When I started Knix, I was deeply afraid of debt, I think in many ways because I misunderstood it.

What is the last money-related book you read?

I love The Psychology of Money by Morgan Housel. Our relationship with money is so deeply personal, and we each have different thresholds for risk, success, and the importance we place on it. I think The Psychology of Money is a must-read.

What is something you always have in your wallet?

A credit card and ID.

What’s your next money goal?

Continuing to build sustainable, long-term value, personally and through the businesses and causes I support. To ensure that my kids have a healthy relationship with money—one where they value the hard work that goes into creating it and never take it for granted.

My MoneySense lightning round 

Rent or own?

Own.

Buy or lease?

Buy… when it’s an asset. Lease if it’s about flexibility.

Save or invest?

Invest.

Budget or not? 

Budget 100% if the framework and plan of how you will put what you have to good use and not go above your means.

CBC’s hit series Dragons’ Den will mark its milestone 20th season with a two-episode, Full Circle finale event on Thursday, February 26 at 7 p.m. EST (4:00 PST) and Thursday, March 5 at 8 p.m. (8:30 NT) on CBC and the free CBC Gem streaming service.

Read more about My MoneySense:

• Don’t be afraid to ask for an advance: Suzanne Bowness on budgeting for freelancers
• Aimee Schalles on confronting your marriage’s hard questions early
• “What a dumb mistake that was”: Dilys D’Cruz on money lessons and “painless saving”
• “Our goal is to have properties all over the world”: Sara Loriot is determined to keep dreaming big

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