The Unfortunate Truth About Wealthy Women’s Money Mindset




Let’s face it...we have all thought about life where money is not an issue. It's a question I ask all of my clients…”If MONEY was not a concern, what would life look like for you?!?!?”
Some of the most common things I hear is:
I am afraid of not having enough
I want to feel in control of my finances
I feel guilty that I have ignored my finances for so long
I have no idea if I am on “track” for my age
What I never hear is…..
And this is the unfortunate truth about wealthy women’s money mindset is…..
Too much is not enough. Money is not the problem, money is not the solution...it's the relationship with money. (Chasing a feeling!).

The unfortunate truth is…
Here are the 6 ways we’ve seen our clients get out of the DANGER of thinking money is the solution.

Decide
Assess (Face Facts)
Numbers (Set goals / What you Want )
Gratitude
Energy (Affirmations / What you want
Realize/Recognize (knowledge + confidence)

  1. Decide. Make the decision to have financial success!

Sounds simple enough, but it all starts with you! You're the captain of your ship. Getting to a place of wealth starts before you make a deposit into your savings account or open that IRA. It's making your mind up about finally getting it right and committing to the wealth journey.Making this decision is the foundation that will make all of your financial goals a reality! You have to know that you can achieve your money goals so that you can be inspired to do what it takes to reach them.


2. Face Your Current Financial Situation and Then Make a plan.

It is not helpful to you or to your future to put blinders on when it comes to your financial situation, so you should understand where your money is at this present time. You must realize that even if your current financial situation makes you feel stuck, you have everything you need to become the independent woman you've been dreaming about and to live the life you deserve.

  • Make a list of all your income and expenses.
  • Approximately how much are you spending on priority bills?
  • What are your living costs each month? (Groceries, dining out, entertainment, misc)
  • Towards the end of the month, what's left over?
  • Are you spending too much each month?
  • How much money do you owe in debts?
  • Are you putting money away for retirement?
  • How much do you have in savings?
  • Having the answers to these questions, you can then pinpoint the issues and plan to fix them.

You need to know what you owe and start a plan to pay it off. If you don't have savings, develop a plan to save for your future. Being aware of where you are with your money and having a plan to get there is extremely powerful.


3. Get Grounded In Gratitude. 

We’ve heard it before. And you’ll keep hearing it again because it really is that foundational. Starting with the energy of gratitude removes the fear, limiting beliefs and other negative stories we’ve adopted over the years. Be grateful for what you have now, and grateful for your current income, your current bills, and whatever else you're paying bills for; it's all creating value in your life.

A gas and electric bill pays for your heating during the winter, keeps you charged up for all the gadgets you need. Don't take it for granted! Your rent and mortgage payment provides you shelter.

Although you may wish for more money, remember that you have more than someone else in this moment. So thank the universe for letting you have the ability to sustain yourself.

Extending gratitude increases your focus on the positive things in your life. When you are thankful, you take more notice of the good things you have as well as all of the opportunities you have come across throughout your life.

The drive to be grateful also leads to contentment, which is crucial for increasing wealth because you will be less inclined to spend in order to gain material pleasure. There will always be something new and shiny out there to buy.


4. Focus on what matters to you!

In order to build wealth and achieve financial security, you have to recognize what works for you and avoid following standards set by society. Additionally, you don't want to compare yourself to others! This will always lead to disappointment. Your "why" is again crucial here.

You might be looking for financial independence, perhaps an early retirement with $1 million in the bank might be your goal, or maybe you just want to have enough money to travel the world.



6. Use Money Affirmations Daily.

It's human nature to repeat one's own stories in order to evade our fears and the pain of failure. These stories are more than mere recitations of facts: They're self-fulfilling prophecies we employ in order to protect ourselves from fear.

It’s important to understand that the stories we tell ourselves are not true, but the more we tell them, the more we become trapped by them.

An affirmation is a way to keep yourself centered on the things you want and away from the things you don't. Your truth is manifested by what you think and say. This is especially true in your relationship with money. In other words, if you always say, “I have no money,” or "I don't have enough money" then that becomes your reality. You’ll then act accordingly – even if you don’t want to. It sinks into your subconscious level.

Because of this, it is so crucial to surround yourself with positive affirmations of wealth.

Affirmations become more powerful when you focus on them, and as a result, they come into existence

Start with these five affirmations:


  • I choose to spend wisely.
  • I am a money magnet.
  • I attract money to me easily and effortlessly.
  • I am financially free.
  • I believe there is enough money for everyone.


7. Set Money Goals.

In planning for a prosperous future, setting ambitious money goals that inspire you will help you succeed. It can be achieving multiple six-figure income in your business in one year, or to earn seven-figures by the time you retire. Aim high!

When you clear up your financial objectives, you will want to work backwards and determine what specific actions you'll need to take to reach them. Suppose you want to buy a home at a cost of $500,000. Essentially, you'll need to figure out what your down payment will be and what monthly income you need to pay your mortgage. By doing this, you'll know how much income and savings you need to reach the down payment amount you're aiming for.

You may find that you need to spend less money for saving money, because that is one of the action items that comes out of the exercise. Today's small sacrifices will be the foundation for your better financial future.


8. Gain Knowledge. Gain Confidence.

A lack of knowledge and confidence can make it difficult for you to create wealth and get a handle on your money. Maybe you have trouble understanding what some financial terms mean or someone made you feel like you have no idea about how money works.

Learning about money doesn't have to be hard. Taking an online course on retirement funds or buying a book on budgeting shouldn't be an obstacle. Take control of your money by releasing toxic money beliefs and developing a healthy money mindset. First, figure out what’s stopping you!

There are many resources available to provide you with insights into debt management, investing, preparing for life's unexpected curve balls, and so on. Choose from a number of options that include:

  • Work with a financial advisor to gain clarity on your financial journey and what steps you should take next.
  • Take advantage of financial podcasts to broaden your financial knowledge. Use your favorite podcast app like iTunes to search for personal finance shows or ones on financial wellness — it's a great way to learn money tips from financial experts.
  • You can find low-cost courses on investing and saving at your local community college or adult education center.
  • Join a personal finance book club that focuses on reading and discussing personal finance books as a way to up your financial confidence at the same time. If that fits your fancy, look for one in your local library or start your own.

Here are some books we recommend you read to develop a healthy financial mindset:
  • You Are a Bad Ass at Making Money: Master the Mindset of Wealth by Jen Sincero 
  • Secrets of the Millionaire Mind: Think Rich to Get Rich! Ny T.Hrv Eker
  • Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! By Robert Kiyosaki
  • Make Money your Partner by Beth Dana
  • Well-Healed: The Smart Girls Guide to Getting Rich by Lesley-Anne Scorgie

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