Financial Wellness

Advice for Financial Advisors—Part II

Written by Barbara Huson

I truly believe the best way for women to create wealth is by working with financial professionals. But, according to the Wall Street Journal, “fewer than one in five women currently has an advisor.”

Why? Because women can’t find anyone who understands them.

Advisors are talking to women just like they do men.  Big mistake.  True, money knows no gender. Women, however, are very different from men. Yet the financial world is based on the male model of communication.

Last week I offered 2 pointers answering the question: What would you like to tell the financial industry about how, specifically, they can better serve women?

Here are 3 more.

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Financial Success as a Spiritual Practice

Written by Barbara Huson

Are you having trouble making more money or managing it wisely? Is financial lack a constant source of stress and pain? Consider this.

What if you stopped approaching finance as a purely practical process and started treating it as a spiritual practice?

What if, along with learning the practical facts, you focused on developing a deep sense of trust in the inexplicable forces of the Universe, along with learning the practical facts?

In my experience, the moment you inject faith into finances, the instant you invite the Divine into your relationship with the ‘almighty dollar,’ your experience with money grows deeper, richer, and more meaningful. Everything changes.

Financial success becomes a transformational journey, a personal healing, a sacred initiation, empowering you to become all you’re meant to be and to do what you’re put on this planet to do.

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How Much Risk Can You Handle?

Written by Barbara Huson

With inflation still soaring and markets still turbulent, it’s a good time to discuss an important concept: Risk tolerance.

You’ve probably heard those words bandied about when talk turns to investing. But do you know what they mean?

Risk tolerance is generally defined as the ability to stomach large swings in the value of your investment portfolio. Because the market, by nature, is very volatile, understanding your risk tolerance is vital for making prudent decisions.

Here are 3 factors to help you figure out how much risk you can tolerate:

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The 3 Questions. (Everything You Need to Know About Creating Wealth)

Written by Barbara Huson

I’ve recently had several thought-provoking conversations centered around three fundamental questions:

  • What is Wealth? 
  • How do you create Wealth (without becoming a workaholic?)
  • Why is creating Wealth so scary?

Today, I’d like to share my perspective on these questions. Let’s begin with the first—what is wealth?

Simply put, Wealth is having more than you need…so money ceases to be a source of stress and becomes a tool for living life fully.

But like any tool, you must understand how to use it skillfully and wisely to get maximum benefit with minimum risk. Which brings us to the 2nd question.

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All the Answers Aren’t ‘Out There’

Written by Barbara Huson

I spent most of my adult life desperately trying to figure out money. I had to. My husband was gambling it away at a rapid pace. So I dutifully went to classes, read books, talked to advisors. Nothing helped.

Then, something miraculous happened. When I began journaling about my frustration, I began to breakthrough my blocks.

As I’d write, I’d hear a familiar voice in my head telling me how stupid I was.  Up until then, I just assumed that voice was right and there was nothing I could do.

But, this time, instead of letting that voice hold sway, as I always did, I decided to get to know it better. I asked the voice where it came from and what it wanted.

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“Set & Forget” Investing

Written by Barbara Huson

After my divorce from the gambling husband, my inheritance was pretty much gone, with the exception of a few properties that gave me a small monthly income. But I did something smart.

When the rent from the properties would arrive, before I spent a cent, I’d put a portion into my savings account. I did it automatically. I filled out a form and the bank took are of the rest.

I didn’t even have to think about. And even though it wasn’t a lot, it’s amazing how my savings grew over time.

Later, as the cash accumulated, I automated my investing, by using a technique known as Dollar Cost Averaging (DCA-click to learn more). DCA takes the emotion out of investing, reduces the risk of losing a lump sum in a down market and reduces costs because you buy less when your investments are expensive, and more when they’re cheaper.

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The Difference Between Investing & Gambling

Written by Barbara Huson

I’ll never forget my first investment on my own. A friend of my father’s was forming a limited partnership. He’d just opened T.J. Cinnamons, a retail outlet that sold sticky buns. And he needed to raise money.

I knew what sticky buns were. I had no idea what a limited partnership was, or the risk I was taking. But hey, this was my dad’s close friend. He was extremely wealthy, very smart, massively successful. So, it had to be a great thing, right?

When T.J. Cinnamons went under, I lost all my money.

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The Life-Changing Magic of Tracking Your Spending

Written by Barbara Huson

Keeping track of your expenses is a powerful tool. It’s perfect for reigning in your expenses and getting rid of debt.

But tracking reveals so much more. You’ll see where you’re spending your time and energy. You’ll discover bad habits and blind spots. You’ll realize where you’re trying to fill a hole in your soul. You’ll quickly see what’s missing in your life, areas of deprivation, like vacations or medical visits or new underwear.

Tracking also has a ripple effect. In an Australian study, where participants wrote down every purchase, not only did their finances improve, but they smoked and drank less, ate less junk food and they were more productive.

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My “Ambitious” Challenge for 2024. Want to Join Me?

Written by Barbara Huson

I’ve taken on an Ambitious Challenge for 2024. Well, it’s actually not ‘ambitious’ in the conventional sense.

In fact, most would say it was the exact opposite. But if you feel spiritually adventurous, I invite you to join me.

I call it the No-Goals Challenge. Here’s why I’m doing it…

Anna, my youngest daughter, and I have a “God Box” ritual we do every January 1st. We write down our goals for the year on slips of paper. Then we read each one aloud as we drop them in our God Box, deliberately giving those goals up to the Divine.

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What if Your Money Problems Aren’t Actually About Money?

Written by Barbara Huson

She was smart, successful, making good money…yet was at her wits end.

“There are periods when I manage to save a lot,” she told me. “But then I start overspending and ignoring my money. It’s like I can’t help it.”

Even after years of taking financial workshops, reading money books, doing personal growth work, she felt stuck in a frustrating pattern that was taking a toll on her health and her happiness.

“It feels like a vicious cycle I can’t get off,” she moaned.

She couldn’t stop because she didn’t have a money problem. She had a Money Disorder. There’s a big difference.

A Money Disorder is a chronic, self-destructive pattern caused by unconscious beliefs that cause dysfunctional behaviors associated with money.

Money Disorders, left untreated, can ruin your quality of life, wreck your relationships, destroy your peace of mind, leaving you feeling hopeless and helpless.

The Question is: How do you know if your difficulties with money are actually a more serious disorder?

According to an online article titled: 15 Fascinating Signs You May Have a Money Disorder, these are the classic symptoms:

  1. You can’t define what having ‘enough’ money means.
  2. You keep credit cards and bank account info from your partner.
  3. You keep piling on.
  4. You avoid spending money at all costs.
  5. You use money as a way to fill a void.
  6. You’re living in extremes.
  7. Your life is in chaos as a result of your spending habits.
  8. You’re in denial about your debts.
  9. You’re a workaholic.
  10. You’re a pathological gambler.
  11. Having money makes you feel guilty.
  12. You find it hard to say no when people ask for money.
  13. You give people money even if you know you’re enabling their poor financial choices.
  14. You lie to your partner about how much you spend.
  15. You refuse to talk about money at all.

If you have even one of these signs, the culprit is not financial, but as the article explains, it’s an “emotional and spiritual imbalance” which requires deeper, emotional healing with a skillful therapist.

I recommend working with someone who specializes in trauma therapy or joining a support group like my online community, The Wealth Connection.

To read the full article, click HERE.

How would you rate your relationship with money— a problem or a money disorder? Tell me what you think in the comments below.

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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