Financial success is a rite of passage for a woman — it demands that she become a responsible adult and the ultimate authority in her life. For many women, that can be scary.
Although these fears can put limits on your finances, they can just as well work in your favor — the choice is yours. If you are making less money than you desire or need, despite your efforts to do otherwise, you are an underearner. Use the following strategies to help reach your full earning potential.
Tell the Truth
Be honest about what’s not working in your life — without shame, blame or judgment. You don’t have to find a solution. Just look at the challenge square in the eye, whether it has to do with your debt, job, marriage or attitude towards money. A problem is there for a purpose: to get your attention. Rather than pushing the problem under the rug, make it your doorway. By addressing it, you will notice opportunities to solutions. It’s how you will get to the next level.
Make a Decision
Every woman’s journey starts with “It’s time to make money.” It’s not a goal — it’s a committed decision and anything else is not an option. When you make a decision, two things will happen: You will start noticing coincidences that can help you succeed, and you will want to resist them. Step out of your comfort zone. Resistance is a sign that you are on the right path. Use it to push you ahead.
Stretch
You don’t need to have it all figured out; you just have to take advantage of the coincidences. Doing so requires you to stretch. Make it a part of your daily activity to let go of what’s holding you back. Do something differently, like speaking up for what you want and don’t want.
If you are asking your boss for more money, always ask for more than you feel comfortable. When you do, be prepared: collect examples of how you save the company money and add to its value, show letters of recommendation — pitch yourself! If the answer is no, ask what it will take for you to make the amount you asked for. Enroll your superior as partner. If more money is not an option, ask for other perks, like more vacation time. No is never no, it just means not now.
Surround Yourself with Support
Because women are relationship-oriented beings, it is important that you surround yourself with the people who will cheer you on and who believe in what you want to accomplish. You become who you are with.
Respect and Appreciate Money
Do this the same way you treat anything else you want to last. You do so by taking care of it — spend less, save more, invest wisely, and give generously — in that exact order. The whole point is to reach the fourth step. The more you take care of your money, the more you can give away — that’s where the power is.
Why do women underearn?
“First, we devalue ourselves. We give away our knowledge or skills at a bargain price. Second, we put everyone else before ourselves. There is a reason airplane safety says to put your own oxygen mask on first. If you don’t take care of yourself first, you are in no shape to take care of anyone else. Third, we don’t like to be uncomfortable. Anytime we deviate from a norm, like asking for more money, our brains scream, ‘Danger!’ We must be willing to feel discomfort.”
What is the difference between high earners and underearners?
“High earners get to points in their careers in which they say, ‘I can’t do that, no way!’ But they do it anyway. I call that the stretch. Underearners won’t take the risk. Success lies just outside of your comfort zone. When you feel fear and anxiety, it’s a great sign. It says you are on your way to the next level.”
What is sacred success?
“It’s doing what you were put on the earth to do, for your own bliss and the benefit of others while reaping the rich rewards.”
Need Help Getting Your Finances in Order? Barbara recommends:
