Willpower Won’t Work! Rewire to Spend Less

Written by Barbara Huson

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

Written by Barbara Huson

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.

Written by Barbara Huson

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

Written by Barbara Huson

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

Written by Barbara Huson

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

Written by Barbara Huson

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

Written by Barbara Huson

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:

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

Negotiation—A Novel Approach

Written by Barbara Huson

I admit it. When it comes to negotiating—anything—I always lapse into a temporary panic. Words like adversarial, nerve-wracking and intimidating leap to mind.

However, when I met Rhonda Noordyk and was a guest on her podcast, Divorce Conversations for Women, my whole attitude changed. A former financial advisor, Rhonda left the industry in 2014 to become a Certified Divorce Financial Analyst. She created The Woman’s Financial Wellness Center, devoted to ensuring women achieve financial justice in a divorce.

I was instantly impressed with Rhonda’s sunny disposition and her razor-sharp intelligence, so I invited her to speak to my online community, The Wealth Connection.

She completely transformed my view of negotiation by introducing the acronym, ANOT.

“It’s a very powerful acronym,” Rhonda explained. “Our clients have had 100% success rate with it. In fact, it’s great for all kinds of communications, even emails.”

If You’re in Transition, Read This!!!

Written by Barbara Huson

She had just separated from her husband, moved to a new town and was trying to restart the coaching business she’d put on hold.

Yet she kept procrastinating doing the things she needed to do.

“I feel stuck,” she sighed. “Like I hit a brick wall.”

“You’re not stuck,” I told her. “You’re in transition. And transitions are a bitch.”

I spoke from experience. I remember, back in the 80’s, when I moved to San Francisco, a dream come true. But as soon as I settled in, I sank into a confusing funk. This wasn’t what I expected.

That’s when I read Transitions: Making sense of Life’s Changes by Bill Bridges and understood what was happening. A transition is a gradual psychological process of reorienting to the new situation.

Primitive societies had rituals to give meaning to life’s transitions. Members were taken out of their villages, into the wilderness, where they didn’t know what was going to happen next.

“Every time we make a change,” Bridges writes, “We take a metaphorical journey into the wilderness.”

The wilderness is full of uncertainty, indecision, confusion, disorientation, vacillation–all a vital part of the reorientation process.

The ‘in-between’ period is not a time to commit. Or take decisive action. Or even make plans.

It is a time to feel our feelings, grieve our losses, practice self-care and, like the primitives, commune with our spirit guides.

We need to unhook from the past before we can create a new future.

“The more you can tolerate, even embrace, uncertainty,” I told my client, “the quicker you will get through it.”

Eventually, I assured her, your energy will return. Opportunities will appear. Loose ends will come together. Out of the chaos of uncertainty, new beginnings will inevitably emerge.

How have you successfully navigated transitions in your life? Leave me a comment below.

Has It Clicked Yet?

Written by Barbara Huson

I call it the Click. It’s that ‘aha’ moment when you recognize, with every fiber of your being, that you deserve to earn more for no other reason than you’re worth it

Without the Click, upping your income can be an uphill battle. But once you realize how capable you are, how much value you offer, barriers that once felt insurmountable will begin to disappear.

You see, there is a direct correlation between your level of self-esteem and the amount that you earn.

Virtually every high earner I interviewed for my books swore money was not her primary motivation. But at the same time, she fully expected to be highly compensated because she knew she was worth it.

How do you build that kind of self esteem? How do you access the Click? Simply put: Do
what you dread.

That’s probably not what you wanted to hear. But trust me, there’s no better way to boost your confidence than by doing what you are scared to do or don’t believe you can do.

Life Lessons

Willpower Won’t Work! Rewire to Spend Less

The Difference Between Men & Women…in Investing

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

The Empress’s New Clothes

The Traditional Tale:

The Modern Version:

The Feminine Face of Power

The Trinity of Trust

Are You a Victim of Financial Abuse? 10 Red Flags

Negotiation—A Novel Approach

If You’re in Transition, Read This!!!

Has It Clicked Yet?

Meet Barbara Huson

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