Financial Wellness
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Who’s Got Your Back?

Have you noticed, in gyms, when guys are lifting really heavy weights, they often ask someone, usually a perfect stranger, to spot them?

It’s known as The Law of Heavy Lifting. I also call it The Law of Higher Earnings.

How many times have you seen a woman, while working out, tap someone to spot them? I never have.

We’ll hire trainers, but ask another to spot us, especially if we think they’re ‘busy’? Doesn’t happen! Why?

For one thing, we rarely lift very heavy weights. But more likely, it’s because we don’t want to bother anyone. And too often, we’re determined to do it alone.

Financial success, however, requires lifting heavier weights in order to build up our confidence, strengthen our resolve and climb to greater heights.

For this, we need our spotters, people we trust to have our backs, push us further, give us feedback.

Inflation Protection

If you can fog a mirror, you’ve probably heard. Inflation is the highest it’s been in decades.

Inflation is a ravenous creature that devours our dollars like a caterpillar on a leaf–slowly, methodically, little bits at a time. But this recent bout seems more like a famished elephant.

The only way to counter the ravages of rising prices is to make sure at least some of your savings is working harder than it would in a bank, where it earns next to nothing.

In normal times that means the stock market. But with markets in turmoil, many of us are looking for safer alternatives. That’s why I got so excited when I read Jason Zweig’s column in this week’s Wall Street Journal.

“Fortunately, raising the return on your cash is easier than ever,” he declared. “The two best choices are money market funds and U.S. Treasury securities.”

Financial Success as a Spiritual Practice

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.

Inflation: A Reason to Worry….Or A Call to Action?

Even the wealthiest worry about money. Their biggest fear: Inflation.

Inflation is, indeed, a ravenous creature that devours our cash like a caterpillar on a leafslowly, methodically, little bits at a time.

For years, however, inflation has stayed quite low. But that’s rapidly changing. Inflation has hit its highest rate in more than 40 years. And it’s expected to keep escalating.

Is it time to start worrying? Heavens NO! The worst response to climbing costs (or most anything else for that matter) is to go into fear, which tends to have a paralyzing effect.

Instead, look at rising inflation as a resounding call to action…no matter how much or how little money you have.

Is Money Your Drug of Choice?

How often do we use money like Novocain, spending freely to numb the pain in our lives or the pressures at work? But instead of making things better, it just gets us deeper into trouble.

Yet we justify our shopping sprees with thoughts like, “I’m going through a divorce. I deserve this,” or “I hate my job. At least I can enjoy my life.”

What gets us into trouble isn’t the spending, but our self-deception. It’s called denial. And denial can generate considerable debt.

Getting out of denial is a prerequisite for prosperity. Credit card debt is insidious, but not insurmountable.

Making minimum payments can take 30 years or more to pay off (because 75 percent of what you pay goes toward the accumulating interest).

The Secret to Financial Success…in Only Five Words

One day, I was glancing at the Wall Street Journal, when 5 words leapt off the page—”The survival of the focused.

I knew those five words carried a powerful message. A message High Earners understand very well. But one Underearners have failed to grasp.

Financial Success belongs to the focused.

Without focus, it’s easy to get sidetracked by multiple distractions fighting for your attention. But with focus, conflicting objectives cease to control you, making it easier (and less stressful) to take decisive action without second guessing.

A Sure-Fire Way to Increase Your Self Worth

I always asked High Earners: “Are you doing what you’re doing for the money?” No, they insisted, quite vehemently. They were driven by the  passion, by the challenge, by the recognition. But not money.

Yet, in the next breath, they all said the same thing. “But I damn well want to be well compensated…because I know I’m worth it!”

Where did their strong sense of self-worth come from, I initially wondered? As a chronic underearner, I wanted what they had. The answer soon became stunningly clear.

They had a simple strategy. Whenever they were asked to do something, whenever an opportunity arose, if their reaction wasn’t a strong ‘Hell Yes!’ it was clearly a “Hell No!”

These women each told me that, initially, they were afraid to speak up and tell the truth. But they forced themselves to ask for what they wanted, just as they said ‘no’ to what they didn’t want.

This simple (but scary) act was the secret to their financial success. Here’s why:

  • Asking for more is an act of self-love.
  • Saying no is a statement of self-respect.
  • Refusing to settle is a show of self-esteem.
  • And walking away is a sign of self-trust.

Whenever you stand up for what you want, whenever you refuse to take less than you deserve, your life will begin to change, sometimes dramatically.

You’ll also notice a shift in how you feel about yourself. Speaking up becomes not something you should do, but something you have to do – because you know in your heart you’re worth it.

Where do you need to start speaking up? Tell me about it in the comments below.

How much Risk Can You Handle?

With soaring inflation soaring and turbulent markets, it’s a good time to discuss an important conceptRisk 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.  The market, by nature, is very volatile. It’s vital to understand your level of tolerance for risk in order to make prudent decisions.

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

The first factor is time. When will you need the money? Generally, you can take a lot more risk if you’ve got 10-years or more. Money you need in the next 3-5 years should be in cash. You don’t want to be forced to sell if the market is down.

The second factor is cash reservesHow much cash do you have on hand? If all your money is fully invested, with no extra cash to cover unexpected expenses, that would be a problem. Either you must sell at a loss or go into debt.

The third factor is sleep. How much volatility can you stand before you start stressing out, unable to sleep at night? We all know what happens if we don’t get enough shut-eye. Everything suffers!

Those factors are crucial considerations. But keep in mind. Your biggest risk is not protecting yourself against inflation.

Stuffing your entire savings under the mattress is like living in a house full of termites. Even if nothing seems awry, you’ll doubtlessly be dealing with costly damages down the line.

What do you feel your risk tolerance is? Has it changed in the current market situation? Tell me what you think below.

Consciousness Raising While Holiday Shopping

Tis the season to be spending. But splurging on presents is like binging at the buffet. Fun at first, but afterwards, you feel awful!

Let me suggest a simple tip to control your spending, without turning into a tightwad: Track your expenses.

Every time you buy anything—a gift, a latte or a mani/pedi—jot down the item and the amount…at the time of purchase. Otherwise, receipts pile up and it feels overwhelming.

Believe me, tracking is not just for those with limited means. Tracking is a powerful consciousness raising, potentially life changing tool. It reveals a lot more than where you can shave and save.

Professionally Successful – Financially Strapped! Oh My!

On the outside, she had it all together. A successful entrepreneur who made loads of money, dressed exquisitely, and lived in luxury.

But every morning she woke up feeling like “there’s ground glass in my gut.” Under her polished veneer, she was drowning in debt.

“I am making good money, but I have nothing to show for it,“ she told me. “I’m broke but nobody knows it.”

Our successful entrepreneur represents a raging epidemic—people who are professionally successful but financially strapped.

Most experts advocate budgeting as the best solution. But she had tried repeatedly to follow a budget, only to fail miserably.

The truth is, will power alone is never enough to stop compulsive behaviors. Because money isn’t the problem, but a symptom of something deeper.

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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