Psychology of Affluence
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The Lesson at the Liquor Store

So, I’m standing in line at the liquor store, holding 2 bottles of a Chardonnay on sale for $3.99. (Who can refuse a bargain like that?)

An elderly woman is paying the clerk. Behind her, in front of me, a scruffy guy with a bottle of Jack Daniels fumbles with the Lottery machine.

“Maybe I’ll win,” he says to no one in particular.

I say, remembering an article I read, “Did you hear about the couple who won a $20 million lottery and gave it all away because they didn’t want it?”

The elderly woman whips her head up and says: “I’d give it away too. What would I do with $20 million?”

And the scruffy guy agrees: “So would I. Hell, I’d probably just spend it all on booze anyway.”

Refusing the temptation to ask him why, then, he was buying a lottery ticket, I declared: “Not me. I’d give some of it away, but there’s a lot I could do with that money.”

You’d think I told them I was about to shoot the Pope. There was a collective gasp, a look of shock, and for a split second, I actually felt ashamed of wanting millions.

And then I realized—People are about as rich as they want to be.  For many, wealth is more a burden than a blessing.

But the real epiphany came when I turned to the woman behind me, and asked what she’d do.

“My first thought,” she said, “was I’d have enough money to paint my house.” Then she chuckled. “It just occurred to me how small I was thinking. I mean, I could buy a bigger house with that money. Maybe I need to start thinking bigger.”

Maybe we all need to start thinking bigger!  So, in the spirit of thinking bigger, ask yourself: What would I do if I won a $20 million lottery?

Want bonus points?  Answer this: What steps can I start taking now to bring those dreams to life…even if I never win a lottery???

I’m betting you, my readers, will have a different reaction than the liquor store patrons. Am I right? Let me know in the comments below.


Take action to bring your dreams to life. My virtual community, The Wealth Connection, is the place to find the support you need. Join Today!

 

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What do Money and a Chainsaw Have in Common?

“Only those who have a real and lasting sense of abundance can be charitable.”~ACIM

As I see it,  money is merely a tool for living life on your own terms. But like any tool, you must understand how to use it skillfully and wisely to get the maximum benefit with minimum risk.

I think of my husband’s chainsaw which he expertly operates. In my hands, it would lead to disaster.

Let me give you the simple Instructions for skillfully handling money (also known as the 4 Rules of Wealth): 1)  Spend less; 2) Save more; 3) Invest wisely; 4)  Give generously

The first 3 are the How-to’s. The 4th is the Why.

If you’re having a hard time following the how-to instructions, perhaps you need a stronger, clearer why. This is what motivates women to become financially successful–not just having more money in the bank, but using it to help others.

 Those who master all four become what I call  Affluencers—women who not only create wealth but wield significant influence, in areas they feel passionate about.
What’s your Why? Leave a comment below.

If you enjoyed these “Words of Wealth”, head over to my website and sign-up for my FREE weekly newsletter at: www.barbara-huson.com
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The Psychology of Affluence

Scott Fitzgerald once said to Hemingway “The rich are different from you and me.” To which the other author replied: “Yes, they have more money.”

True. But let’s take it a step deeper. The reason the rich have more money, I believe, is that they think differently.

My family was wealthy. So were most their friends. I’ve talked to thousands of affluent women. One day, I made a list of things I consistently hear them say, or imply. I’m not talking about highly paid celebrities that go bankrupt, but those who sustain their wealth over a long period.

I came up with 9 common threads that seem to represent how they think.

  1. I am confident about my ability to create wealth. It’s part of my self-image
  2. I respect money and I value myself.
  3. I understand and follow the financial basics.
  4. I see no obstacles. Only opportunities.
  5. I talk possibility. Not limitation.
  6. I’m willing to do the tough stuff (that scares everyone else…and also me!)
  7. I know how to use risk to amplify my wealth.
  8. I rely on a team to help me manage my money.
  9. I take responsibility…for everything.

These 9 traits make great affirmations. There are probably more. Anything you’d add to this list? Share in the comments.


Wondering how to take charge of your money? Don’t know where to start? Take my short Path to Prosperity Quiz to find out. Click here.

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The Life Changing Power of Setting Strong Boundaries

In my interviews with High Earners I always asked: “Are you doing what you’re doing for the money?”

Almost to a woman, their response was a vehement NO. Passion, challenge, and recognition drove them. But not the money.

Here’s the catch. 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 soon discovered the answer.

These women forced themselves to set strong boundaries. They asked for what they wanted and said ‘no’ to what they didn’t. Over and over again.

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, you reinforce your self-love, self-respect, self-worth, and self-trust.

In time, you’ll begin to 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 set boundaries by speaking up?


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And You Thought It was about Money!!!!

Once a woman achieves financial stability, no longer struggling to make ends meet, something within her dramatically changes…though she’s rarely aware it’s happening.

Her brain, no longer tasked with simply surviving, is ready to rewire itself.

She finds herself yearning for Greatness, no longer satisfied with mediocrity.

She deeply desires to create wealth, not for its own sake, but for its original meaning—well-being.

She strives for power, not to appease or dominate others, but to have dominion over herself.

She searches for significance, not by being the best or making the most, but by doing what God put her on earth to do.

Rewiring, however, requires tremendous effort. She must intentionally respond differently, not habitually, consciously choosing behaviors that permit her to thrive…rather than merely survive.

Yet, unless she’s vigilant, her old neural connections will keep recreating ‘not enough’. She’ll unwittingly remain rooted in the hard-wired neuropathway offering the least resistance (otherwise known as her comfort zone).

I truly believe when enough women understand how to rewire their brains by taking the path of most resistance, building their wealth and claiming their power, a global transformation will occur.

We’ll have the values, visions, sensitivity and the resources needed to change this world, heal this planet.

This, I believe, is our essential legacy, our inherent destiny, our financial responsibility as women.

Tell me about the legacy you want to leave in the comments below.


If you enjoyed this Words of Wealth, click here to receive a copy in your inbox every week.

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The Ultimate High

It was a conversation I’ll never forget.

Soon after I sold my first book, Prince Charming Isn’t Coming: How Women Get Smart about Money, I flew to New York and had lunch with my editor. As we munched on our salads, I casually asked if she ever invested.

“Oh no,” she said, emphatically. “I have no money.” I could see she was embarrassed, so I dropped the subject.

A year after my book hit the stores, she called to confess.

“Remember that lunch when I told you I had no money,” she said. “Well I did, but it was all sitting in cash in my 401 (k). After working on your book, I realized how foolish that was. So I started educating myself, found an advisor, and it’s now fully invested. I even collected my spare change in a jar every night, and I’ve invested that too.”

She paused a moment, then added: “I watch the market go up and down, but I’m in it for the long haul, so I’m not worried at all.”

I practically jumped out of my chair in excitement. But then she said what I hear all the time from women when they finally take financial responsibility.

“I have to tell you, Barbara, I feel so powerful.”

Those four words captured the essence of my life’s work; why I’m so passionate about helping women financially. Sure, I want them to prosper. But more importantly, I want every woman to realize that by taking charge of her money, she’s taking charge of her life. The incredible sense of power this brings is the ultimate high.

And some of you know exactly what I’m talking about.

But if you’re like most women, the thought of investing feels more like climbing Mt. Everest–totally daunting, if not downright impossible. Actually I suspect some of you would rather take on the mountain than tackle the markets.

I know the feeling. I spent most of my adult life in a financial fog, letting my husband–a stockbroker turned compulsive gambler (really!)–handle our finances. I was too scared, felt too stupid, to take charge. Of course, he lost almost everything. We got a divorce. He left the country. My father wouldn’t lend me money. I got the message. I wasn’t going to raise my 3 young daughters on the street. I had to do something…fast.

I tried to learn. I went to classes, read books, but my eyes would glaze over, my brain would fog up. I figured I was terminally stupid.

Then I made a very wise decision. I gave myself a year to learn about finances. And I’d do it my own way. I’d not only study the facts, I’d also explore my fears. So while diligently doing the outer work, I dove deep into the inner work, combining the practical with the psychological.

And it worked. I became a savvy investor and successful wealth builder. If I had to sum up what I learned, it would be this: Wealth doesn’t come from what you earn, but from what you do with what you earn.

  • You build wealth by following the 3 Rules of Money: Spend Less, Save More, Invest Wisely.
  • At least some money must be invested in assets (stocks, bonds, real estate) that grow faster than inflation and taxes can take it away. – Investing is a lot simpler than you think (though there’s a whole industry trying to convince us otherwise!).
  • It doesn’t take a lot of money to create wealth or a lot of time to get smart.
  • And though it’s best to start when you’re young, it’s never, ever too late to begin.

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The Psychology of Affluence

Scott Fitzgerald once said to Hemingway “The rich are different from you and me.” To which the other author replied: “Yes, they have more money.”

True. But the more important question is: Why do they have more money?

The reason, I believe, is that the rich think differently.

I grew up wealthy. I’ve talked to thousands of affluent women. I’m not talking about highly paid celebrities that go bankrupt, but those who sustain their wealth over a long period.

One day, I made a list of things I consistently hear the affluent say, or imply. I came up with 9 common statements that seem to represent how they think.

  1. I am confident about my ability to create wealth. It’s part of my self-image
  2. I respect money and I value myself.
  3. I understand and follow the rules of money (spend less; save more; invest wisely).
  4. I see no obstacles. Only opportunities.
  5. I talk possibility. Not limitation.
  6. I’m willing to do the tough stuff (that scares everyone else…and also me!)
  7. I know how to use risk to amplify my wealth.
  8. I rely on a team to help me manage my money.
  9. I take responsibility…for everything.

If you can think of more, I’d love to hear them. Also, these 9 statements make great affirmations.


If you enjoyed these “Words of Wealth”, head over to my website and sign-up for my FREE weekly newsletter at: www.barbarastanny.com

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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