Money talk

I am a life and career coach. I am by no means a financial expert. Far from it. [Insert obligatory disclaimer statement here]. But I do know how much of an impact money has on the lives of the women I work with.

So many clients come and tell me things like: I live paycheck-to-paycheck, I earn so much but I have no savings, I feel financially insecure, I’m financially reliant on someone else, I don’t understand money, I would love to do X but I feel financially trapped.

We’re thinking about money and we’re worrying about money. For so many, money is keeping us from living the lives we want to live.

So why not shift that?

Here are some simple ideas to consider over the next few weeks:

• Initiate a conversation with a friend or colleague about money and how much you’re paid. Traditionally these conversations have been seen as gross. But women still earn less than their male counterparts and I’m convinced that if we are to stop this gap growing, we need to start talking to each other more about money.
• Start a savings plan or up the plan you already have. Make the savings amount per month realistic but aspirational [whether that is $10 or $10,000] the point is to be saving and to know that you’re in charge of doing so.
• Educate yourself: listen to a podcast, read a book, attend a seminar, speak to an expert.
• If you’re employed, consider asking for a payrise [remember: do your research; make a great case; keep your language objective; and have an actual dollar amount in mind].
• If you’re self-employed, review your income sources – see which ones deliver the greatest return on investment and decide where to expend your energy over the next six months to boost your income.
• Enhance your spending consciousness: try only using cash for a week or review all the subscriptions and direct debits you have and commit to cutting a few.
• Consider what money means to you and the role you want it to play in your life. Write these ideas down and then come up with three simple steps, things you can do this week, to bring you closer to that ideal.

Tags: life-coaching, Melbourne