Life Lessons

The Heroine’s Journey: The Feminine Path to Financial Independence

In my book, Prince Charming Isn’t Coming, I likened the process of financial independence to a Hero’s Journey.

However, as I have since discovered, Heroines follow a somewhat different path. And those differences are significant.

In traditional accounts, the male Hero, responding to “The Call” (something’s missing or was taken), sets out in search of treasure (the holy grail or helpless maiden). As he travels (outside his comfort zone), he battles dragons and experiences ordeals (his fears), ultimately finding the treasure (something outside of himself).

In this traditional telling, the man is the savior; the woman is the passive princess.

The Heroine’s Journey also begins with “The Call” (she’s unhappy or dissatisfied). Unfortunately, women too often respond by waiting to be saved.

Welcoming Your Warrior Archetype

There is inside each of us a long-buried treasure—a deep-seated source of strength, daring, and focus—otherwise known as the Warrior Archetype.

This Archetype is the psychological blueprint for leadership and courage, for fierce determination in the face of endless obstacles.

I believe the Warrior Archetype provides the missing link in women’s evolution. The Warrior carries the hardwiring for our power.

Unfortunately, a lot of women shun this Archetype. They equate Warrior energy with cruelty, destruction and violence.

What’s Emotion Got to Do With It? Everything!!!

I call it the Secret Shame of Successful Women. And I see it all the time. Bright, sophisticated professionals, making ample incomes, who have little (if anything) to show for it.

Their problem isn’t lack of money. That’s merely a symptom. The real problem is that money is a far more emotional subject than the financial industry recognizes…which does a huge disservice to women.

After decades in this business, I’m convinced that the major reason smart, capable women struggle financially is because of Unresolved Emotions. Emotions such as fear, grief, anger and shame, incurred during their lifetime or passed down from earlier generations.

Willpower Won’t Work! Rewire to Spend Less

You swear, starting today, you’re going to curb your spending. And you really mean it. Until….

You spy an online ad for this adorable summer dress that’s to die for. Later, you flip through the Costco catalogue and that Vitamix Blender you’ve been eyeing is on sale.

Without thinking, you whip out your card, make your purchase and you feel great. Until the bill comes. Then you remember your vow and beat yourself up for not having more will-power.

BUT WAIT! According to the latest research, all the will power in the world may not be enough. Blame it on your brain.

A recent study did brain scans on people who planned to buy with credit cards and those planning to use cash. They discovered a notable disparity in brain activity between the two groups.

“Buying on credit doesn’t just ease shoppers’ inhibitions,” reports the Wall Street Journal. “It actively encourages purchases.”

The Difference Between Men & 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% in some studies and, on average, women lost 2.5% of their stock portfolio value in 2015, while men lost 3.8%.”

But, women are still less confident than men in their investing ability. Only 9% of women think they make better investors than men according a Fidelity report.

The Conversation No One Wants to Have. But You’ll Be Sorry If You Don’t.

This year would’ve been my father’s 95th birthday. It got me thinking about the day I went to my mother, wondering what my Dad, who was seriously ill, had planned for her after he passed.

I was terrified to ask her that question. When I finally screwed up the courage, she made it abundantly clear: this was not a conversation she wanted to have.

I made it even clearer: avoidance was not an option. Here’s what happened next:

1. We had “The Talk.” I had Mom sit down with Dad and look at all their financial documents: bank statements, investments, estate planning, etc. This was not, by any means, an easy conversation. Nerves were frayed. Mom glazed over. Dad lost patience. I kept scratching my wrist (a nervous habit) until it bled. But by the end, Mom knew where every penny was and what arrangements he had (and hadn’t) made.

2. We assembled “ The Team.” My Dad was very much a do-it-yourselfer. Mom needed the support of professionals. First my sisters and I found an estate lawyer and together my parents created a very good, tax efficient estate plan. Then we helped her find an investment advisor and a CPA. She still meets with her team on a regular basis to this day.

The Empress’s New Clothes

The Traditional Tale:

An Emperor orders a suit of clothes that are invisible to anyone who is incompetent or stupid. The emperor can’t see the clothes, but is so afraid of being judged incompetent or stupid that he pretends to be delighted with the garments and “wears” them in a parade through town. All the onlookers pretend to see them too, until a child yells out, “He hasn’t got any clothes on!”

The Modern Version:

An aging woman, dressed in rags, ambles through crowded streets, feeling invisible, like a second class citizen.

Suddenly, she hears a ruckus from where she just came. Glancing over her shoulder, she sees a little girl, pointing to her in amazement.

“That’s the Empress!” the little girl squeals repeatedly to her mother.

The mother starts to scold the girl until she realizes her daughter is telling the truth.  She passed by this disheveled woman many times, but never before recognized her magnificence. A crowd gathers, whispering beneath their breath, staring at the Empress with awe and admiration.

The Feminine Face of Power

Let’s talk about Power, shall we? It’s a crucial conversation if you’re aspiring to affluence. You cannot possibly create and retain wealth without also owning your power.

Despite what ‘they’ say, money does not give you power. Take my marriage to the gambler. I had the money, but he had the power. I gave it to him. He made all the financial decisions because I was too scared.

I’m convinced that women’s difficulties with money have very little to do with money per se and everything to do with our fear of or ambivalence about power.

The problem: We’ve don’t understand power from a feminine perspective. For whatever reason, the sexes view power very differently.

Women exercise power by building relationships. Men by asserting control. Women work best in collaborative models of ‘power with.’ Men favor a hierarchical model of ‘power over.’

The Trinity of Trust

Years ago, I trusted my husband with my money. He was a stockbroker after all. But, alas, he lost almost everything. After our divorce, I was terrified to trust anyone again.

Then at some point it dawned on me. I couldn’t just ignore money. I needed to start trusting myself. But how? I was financially clueless.

If you’re in a similar situation, let me introduce you to what I’ve come to call the Trinity of Trust. It’s how I began the journey of reclaiming my power and taking financial responsibility

As I spent time connecting with each point on this triangle, I found myself building a firm foundation of trust in myself, in others who were trustworthy, and in the my Higher Power.

Are You a Victim of Financial Abuse? 10 Red Flags

Financial abuse is a serious form of domestic violence, but no one ever really talks about it.

While financial abuse is devastating, many, like me, may be totally unaware it’s happening to them.

In the beginning, financial abuse can be so subtle it’s easily misinterpreted as a loving gesture.

“I don’t want finances to stress you,” my first husband would say to me. “Let, me take care of the money and I’ll give you what you need.”

However, as in my case, the abuser’s efforts to control will, in time, escalate into intimidation, threats of violence and often, physical harm.

How do you know if you’re a victim? Here are 10 Red Flags. Read them carefully and circle the ones that apply to you:

  1. Your partner refuses to talk about money. They get defensive, angry or accusatory.
  2. Your partner goes on spending binges, buying expensive items you really can’t afford.
  3. Your partner racks up debt on your credit card.
  4. Your partner frequently gambles, at the casino, the race track, or in the stock market.
  5. You get frequent calls from creditors, which your partner dismisses or assures you everything is ok.
  6. Your partner keeps saying you don’t have enough to buy certain items, which doesn’t make sense based on your incomes.
  7. Your partner uses money to control you or restricts your access to money.
  8. You question their financial decisions, and they immediately turns the table and makes you wrong.
  9. You notice how often you excuse, justify, rationalize their behavior to others and yourself.
  10. Your gut tells you something is wrong.

If even one of these red flags feels even remotely familiar, I urge you to call the National Domestic Violence Hotline at 1−800−799−7233 (SAFE). They are there, 24/7, to give you the help, information and resources you need.

Have you been affected by financial abuse? Share in the comments below. Your story could help someone else.

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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