I Know What To Do! So Why Don’t I Do It????

Written by Barbara Huson

Could this be you? You’ve read a ton about investing, attended some classes. You understand stocks, bonds, and the value of diversification. You own a few funds in your retirement account.

Still, you continue to ignore or neglect your money, even though you know better. Why?

Blame it on traditional financial education…where the emphasis is on filling your head with facts rather than fostering your courage to change.

Raise your hand if you’ve ever been given the tools to boost Self-Efficacy, the most powerful predictor of financial well-being. (I didn’t think so.)

Self-Efficacy—a concept developed by the Stanford psychologist Albert Bandera—is a person’s belief in their ability to succeed in a given task or goal.

Don’t Even Try to Have It All Figured Out!

Written by Barbara Huson

Guess what the biggest roadblock is to your success? Those devilish how-tos. You know, thinking you have to have it all figured before you begin. Because that’s exactly what slows you down, or keeps you stuck

Those who have the most trouble thinking bigger are the ones who have to know exactly how they’re going do it. And if they can’t figure it out, they lower their sights.

I was in this category most of my life…until I interviewed six-figure women.

I learned from them a three-step plan.

Set a goal.
Commit to reach it (without knowing exactly how).
And grab hold of any unexpected opportunities that fall in your lap.

The second step is where the power is. Commitment, like a magnet, attracts coincidences. I always say, once you commit to a goal, if you’re not experiencing coincidences, go back to the drawing board. You’re obviously not totally committed.

That’s the way it happened for me. In 2008, I decided to earn $125,000. When I told my now ex-husband, he burst out laughing. I did too. It sounded ridiculous coming from a chronic underearner.

I had no idea how I was going to do it. But as I learned from the women I was interviewing, I didn’t need to have a full blown plan in place.

I just needed to take advantage of synchronicities. Of course, coincidences always lay just outside our comfort zone.

Here is the real secret to success: let go of control and do what comes next, especially if you’re scared to death to do it.

What are you scared to death to do? Leave me a comment below!

Your Brain on Savings

Written by Barbara Huson

There’s actually a positive side to being stuck at home. Personal savings have skyrocketed. But my guess is that when the pandemic passes, savings will plummet.

The fault may lie in our brains.

A recent study by Cornell University neuroscientists discovered that our brains are biased toward earning and against saving. Perhaps it’s the immediate gratification our paychecks offer while putting aside small amounts feels about as gratifying as watching grass grow.

“Fundamentally it comes down to this: saving is less valuable to our brains, which devote less attentional resources to it,” said the co-author Adam Anderson. “Our brains find saving more difficult to attend to.”

Yet fixating on earnings can be fool hardy. I call it the Illusion of Affluence. I see it all the time. Successful women spending too much, saving too little, plowing all profits back into their businesses or on classes for personal growth (deceptively calling it “an investment”).

Their ample earnings gives them the illusion, but not the security of true abundance. The real measure of wealth is your net worth…not what you earn but what you keep.

Giving is Good, Right? That Depends….

Written by Barbara Huson

Do you know what today is? National Give Something Away Day. Which got me thinking about giving. We women have been groomed to be Givers. And Giving is good, right? Well, that depends…

There are two kinds of Giving. One empowers. The other weakens. The latter–which I call Giving ‘Til It Hurts—is what’s been expected of women for generations. Sacrifice ourselves for the sake of others.

Giving ‘Til It Hurts provides the illusion of being needed, important, powerful. But self-denial is, in fact, an abdication of power, leaving you exhausted, resentful and depressed, often crippling the receivers, robbing them of their self-esteem or sense of sovereignty.

Powerful Giving, on the other hand, is what I call Giving With Boundaries. This means giving to yourself first, with love, not guilt, refusing to do anything that sucks you dry or leaves you cold.

How Do You Know if You’re Financially Independent?

Written by Barbara Huson

In the spirit of the 4th of July we recently celebrated, I have a question for you. Are you financially independent?

I’m curious how many of you responded with a resounding YES! But I’m guessing many of you are either shaking your head ‘no’ or furrowing your brow, wondering if you are.

Let me clarify.

You are Financially Independent if you have enough to meet your needs and satisfy many (not necessarily all) of your wants…free from the stress of overdue bills and struggling to make ends meet.

Financial Independence has nothing to do with how much money you earn, but how much money you keep. You achieve it by spending less than you have and saving more than you need.

But for some of you, spending less and saving more is akin to self-imposed poverty. I’m reminded of an email I once received…

“How can I SAVE money to create wealth (which means cutting back spending) and still have a feeling of ABUNDANCE (which means the desire to SPEND) and not a mentality of LACK?”

In her mind, spending provided the pretense of prosperity while saving felt like self-denial.

To someone with a wealthy mindset, saving means giving the money to yourself (not Visa or Starbucks) so that ultimately you can purchase whatever you please without pressure or worry.

The difference between the two mindsets is not deprivation but delayed gratification.

I remember, as I struggled to clean up my financial mess, my mentor, Karen McCall, saying to me, “It’s ok to have massages, but what if you had one a month instead of every week, and deposit what you would’ve paid into your savings?”

I followed her advice. And because I did, I gave my future self the gift of financial independence.

What could you do to give yourself the gift of financial independence? Leave me a comment.

Financial independence is easier with support. Join my virtual community, The Wealth Connection today! Learn More.

My Journey Through Fear

Written by Barbara Huson

I had a rough few days.

As I watch the world implode, the virus surge, the markets plunge — my doctor tells me I need cataract surgery. Anything with the eyes terrifies me.

My head fills with worse case scenarios. I fall into a very dark place, unable to find my way out.

Then I remember what A Course in Miracles calls “the most important concept that exists in the universe—”the Law of Cause and Effect.”

The Course explains this law very differently from the world’s more generally accepted Newtonian explanation.

Here’s What Really Needs to Change

Written by Barbara Huson

Am I the only one feeling this way?

Yes, the protests—peaceful or not—have led to incredible changes. Companies are hiring more blacks. Communities are implementing radical police reforms. The shares in black-owned businesses are soaring.

But to create true and lasting equality, we must look beyond the external. To change the collective, we need to transform the individual.

I say this from experience.

I came of age during Women’s Lib. Enraged by rampant discrimination, we took to the streets, burning our bras, demanding gender equality. And lo and behold, the workplace opened its doors, albeit a crack. The banks gave us credit cards without requiring a man’s signature.

I Was Wrong!

Written by Barbara Huson

To those who took me to task for last week’s newsletter, I have one thing to say. Thank You! You opened my eyes.

I had praised the angry but peaceful protesters insisting black lives matter while disparaging “the looters and arsonists” for their senseless acts of destruction that had nothing to do with social justice.

And then you, my beloved community, showed me the light.

“Two wrongs do not make a right,” one woman wrote. “But when those four police murdered George Floyd and all the others, too numerous to mention, they broke the contract of good conduct. If the law enforcement agency cannot follow the law themselves how do they expect others to do so?”

Another reminded me that peaceful protests “made it easy for many White Americans to turn a blind eye to the sufferings of African-Americans, to explain away mistreatment. But the damages have meant that people can no longer look away. Instead it has caused many to look inside at their privilege and find ways they can help dismantle it.”

I still can’t justify violence. Yet I have to admit, people are paying attention, springing into action like never before. But there must be other ways, better ways, to generate change.

Perhaps Ghandi said it best: “If you change how you think then you will change how you feel and what actions you take. And so the world around you will change.”

I’ve been following Ghandi’s guidance. It’s been powerful. If you care to join me, begin by asking—How must I change my thinking to create a just, compassionate and loving world?

Please share your answer with me. I really want to hear from you.

I’m Mad As Hell And I’m Not Going to Take It Any Longer!

Written by Barbara Huson

Anger. It’s everywhere. I’m watching the fury toward oppression coming to a full boil, spilling out into the streets.

And I say hallelujah!

To be clear, I’m not referring to the looters or arsonists, whose anger has nothing to do with seeking justice but serves only to attack and plunder.

I’m proudly pointing to the protesters, peaceably but unabashedly voicing their anger, demanding personal dignity and systemic change.

This is a particularly important message for us women. Historically we’ve been groomed to repress our rage. We don’t like anger. It doesn’t feel good. It’s not ‘nice’. It’s scary.

But in truth, anger is a natural human emotion. Healthy when expressed in a timely manner…a catalyst for positive change. Toxic when bottled up…a source of chaos and destruction.

Desperately Seeking Serenity

Written by Barbara Huson

I’ve been struggling with the idea of Acceptance lately. Allowing life to unfold at its own pace, or as A Course in Miracles says: “Let it be what it is.”

I know that serenity comes from accepting what I cannot change.

Yet I yearn to return to normality. I deeply miss those days I could shop without a mask, do hot yoga in my favorite studio, hang out with friends, hug them goodbye.

But I also yearn for serenity amidst all the uncertainty. I feel conflicted, confused. Then I flash back to a memory.

Blog

I Know What To Do! So Why Don’t I Do It????

Don’t Even Try to Have It All Figured Out!

Your Brain on Savings

Giving is Good, Right? That Depends….

How Do You Know if You’re Financially Independent?

My Journey Through Fear

Here’s What Really Needs to Change

I Was Wrong!

I’m Mad As Hell And I’m Not Going to Take It Any Longer!

Desperately Seeking Serenity

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