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Power is Scary. Let’s Change That!

I’ve long known that women’s difficulties with money have little to do with money per se and everything to do with their fear of power.

In a 2012 study, “Women and the Paradox of Power,” 38% of respondents said they’d rather be well-liked than powerful. As if the two were mutually exclusive.

Our confusion around power should come as no surprise. Historically, girls haven’t been groomed, expected, or encouraged to be successful, powerful adults.

If anything, we were raised as the power behind the throne, often punished for even aspiring higher.

I’m convinced, beneath our dislike of or discomfort with power, lurks a deeper, more ominous concern—the dire consequences we might suffer if we become truly powerful.

Historical narratives of strong, assertive, outspoken women being harshly punished, even burned at the stake, have permeated our collective unconscious.

The Secret “The Secret” Forgot to Tell Us

Do you realize it’s been 20 years since The Secret was released. I’m still a big fan of the movie and occasionally watch the video.

Thanks to this wildly popular movie and subsequent book by Rhonda Bryne, the Law of Attraction is part of our vocabulary. And that’s a very good thing…to a point.

The Law of Attraction states that you attract whatever you want into your life through your ability to feel good, think positively, and focus only on the desired outcome. Simply put, if you want to be rich, don’t focus on lack.

But here’s the problem.  How many times have you said you really want wealth, believe riches are on the way, refuse to focus on anything but abundance….and still, nothing happens?   Your bills go unpaid while your bank balance dwindles.

What the Secret failed to mention is that the Law of Attraction is only part of the equation. There is also The Law of Congruency.

4 Foolproof Techniques for Calming Fear

I often ask underearners, “When’s the last time you did something you were scared to do?” They’d scratch their heads, seemingly stumped.

When I ask high earners, they laugh and say, “All the time. It’s a way of life.”

Ages ago, after one of those conversations, I pulled out a piece of paper and wrote, in red crayon: Do What You Fear. That’s How You Succeed. It still sits, framed, on my desk today.

Though Joseph Campbell put it far more eloquently: “The cave you fear to enter holds the treasure you seek.”

Admittedly, entering the Cave of Fear is…well…terrifying…for everyone. I have yet to meet a successful woman who hasn’t struggled with fear and self-doubt.

But—here’s the key—they didn’t let the fear stop them. Once I decided it wouldn’t stop me either, my income skyrocketed. But it wasn’t easy. It never is.

Let me suggest 4 techniques I use to significantly calm my fears.

Men vs Women…in Investing

For over 20 years, I’ve been baffled.

Sure, we women have become excellent dollar watchers and bargain hunters. But investors? Forget about it. We want to learn, but lack the confidence to act.

And here’s what’s really baffling. Once women enter in the market, we’re actually better investors than men.  Key findings in a recent article on The Motley Fool, (https://www.fool.com/research/women-in-investing-research/) show that female investors earn better returns than men—up to 1.8% in some studies.

But only 9% of women think they make better investors than men according to a Fidelity report.

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A New Breed of Women

I’ll never forget reading an Allianz Study on women that came out after the financial crisis of 2008.

It made an exciting discovery. A new demographic was emergingWomen of Influence. These women aren’t necessarily high earners, or even gainfully employed, though many are.

What sets them apart is how financially savvy they are. In other words, as Allianz reports,  this new breed is “more confident in their ability to spend, save, and invest wisely than the average woman.”

And what’s really exciting—These Women of Influence are becoming global change makers, claiming their power, owning their greatness, making an impact.

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How to Have a Legendary Love Affair…with Money

There’s no better time than today to start having a legendary love affair with your money.

Think of it this way…

Money is like the perfect romantic partner. All it wants to do is serve you, support you and protect you.

All money requires in return is for you to respect and appreciate it by taking good care of it.

In other words, money needs your attention. It needs your understanding. And it needs to feel valued.

Transitions Are Invitations

Transitions can be a bitch! They tend to shake up our routines and perspective. Moving to a new city, starting a new project, or even deciding to change a daily habit can feel disorienting, unsettling.

I remember right after divorcing my gambling husband, I was determined to take charge of my money, to be a positive role model for my 3 young daughters. But the fear of failure would stop me before I even began.

However, as I’ve come to see, transitions are invitations. They’re designed to stretch us, to push us out of our comfort zone–where success always lies.

Growth usually comes disguised as discomfort. It’s easy to resist it, to wait until it feels “safe” or “the time is right.” But the right time is always now.

As the Chinese saying goes; “The best time to plant a tree was 20 years. The second best time is today.”

Who Said Money = Power?

Money does not give you power. Power comes from the choices you make. That’s a very important distinction.

Not all high earners are powerful women.

Successful women fall into two groups. The Successful High Earners and the Hard-driven High Earners.

The hard-driven ones I describe as superwomen on steroids, classic workaholics. They’ll breakdown before they’ll slow down.

These are not powerful women. In fact, they have more in common with underearners than their higher paid peers. They live in deprivation…not necessarily of money, but time, joy, freedom, and control of their life.

One of the defining characteristics of Successful High Earners is that they actually take time for relaxation and self-reflection, to figure out what is really important. Their decisions are based, not on fear, but on their most cherished values.

Here’s Where You’ll Find Success…Guaranteed

If success seems to elude you, here’s a guaranteed approach for finding it. Do what you don’t want to do, are afraid to do, think you can’t do.

Whenever you decide to do something different—whether it’s making more money or changing careers—success always lies just outside your comfort zone.

The only way you’ll succeed is by stretching beyond what feels comfortable to what may seem impossible.

The ability to tolerate discomfort by doing what might not feel good, but doing it anyway—is the only way you’ll ever find financial success.

For us pleasure-seeking, pain-avoiding creatures, that’s a very tall order. It’s certainly not comfortable to face up to a challenge, acknowledge a problem, and it’s especially unnerving to eschew our habitual ways of handling them.

Yet, that’s exactly what’s required.  The real work in raising the bar is to stop doing the same old thing you’ve always done, to try out new strategies, to ignore false alarms, to resist the urge to quit, and refuse to fall back into familiar terrain.

You Can’t Do That! Who Do You Think You Are?

We all have internal critics. The ones that tell us what we can’t possibly do, how we’re sure to screw up if we even try.

Those voices may never shut up.  Mine sure haven’t.

But recently I had an epiphany.  Just because I hear voices in my head, doesn’t mean I have to heed them.

If you hear a voice within you say, ‘You cannot paint.’ by all means paint and the voice will be silenced. ~~Vincent Van Gogh

Instead of listening to that voice, I just keep reminding myself: that’s not my voice. It’s the voice of my dad, the culture, teachers, something ‘out there.’ But it isn’t mine.

Meet Barbara Huson

When a devastating financial crisis rocked her world, Barbara Huson knew she had to get smart about money… and she did. Now, she wants to empower every women to take charge of their money and take charge of their lives! She’s doing just that with her best-selling books, life changing retreats and private financial coaching.

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