Women & Wealth
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The Psychology of Affluence

Written by Barbara Huson

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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Are You Wealthy?

Written by Barbara Huson

Raise your hand if you feel wealthy. (I’m specifically talking about money here.) If not, how much do you need to feel wealthy?  Think about it.

 

One thing I know for sure, wealth is not an amount. It’s a mindset. I’ve met women worth over $10 million who don’t feel rich. I know many who have far less, like me, and consider themselves wealthy.

 

What we need is a universal definition of wealth. And here’s what I propose: wealth means you have more than enough. 

 

In other words, you know you’re wealthy when money ceases to be a source of stress and becomes a useful tool for creating the life of your dreams.

 

What would it take to make you feel wealthy? Leave a comment below.

Money: Thy Name is Woman

Written by Barbara Huson

Women with money and women in power are two uncomfortable ideas in our society. ~~Candace Bushnell

Do you know  the origin of the word “money”? It might surprise you.

The English word for money came from a Roman goddess, whose name was Juno Moneta. In ancient Rome, she was the guardian of finances. Her temple became the first treasury. It was in her temple that the earliest coins were minted.

Think about what this means. As women, money and power are our birthright. Don’t let anyone try to tell you otherwise!

I’m curious. Did the fact that money was named for a Roman goddess surprise you? Leave a comment below.

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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Is This the New Normal: Funds Without Fees?

Written by Barbara Huson

There’s a price war in the financial industry that’s heating up like you wouldn’t believe. And we’re the beneficiaries.

Last week, Charles Schwab announced that on March 1st it was cutting transaction fees on over 500 ETFs to…get this…ZERO! An hour later Fidelity Investments joined in, eliminating commissions on that same number of ETFs. This came 7 months after Vanguard dumped fees on all ETF’s it sells, including competitors. I’m betting more will follow suit.

I recently noted that high yield online savings accounts can be quite profitable (A Hot Tip You Can Take to the Bank). Well funds without fees is cause for even greater celebration. Cutting costs can boost profits considerably.

I’ve long been a big fan of ETFs (Exchange Traded Funds) which mimic an index, are traded on an exchange (like stocks but unlike index mutual funds), have exceedingly low management fees and best of all, tend to consistently outperform actively managed funds.

Case in point: Back in 2007, legendary investor Warren Buffett made a $1 million dollar bet with a noted hedge fund manager that the Vanguard 500 Index Fund would outperform more sophisticated, high priced hedge funds over a 10-year period.

Guess who won? The index fund returned 7.1 percent while the basket of hedge funds returned 2.2 percent.

Of course, these investment firms aren’t suddenly turning altruistic. They’re out to win new customers who’ll hopefully purchase more lucrative products and services.

Nevertheless, they’re making us an offer that’s hard to refuse. I hope you’ll take advantage!

Have you found any unexpected ways to get a bigger return on your investments? Share in the comments below.

Do you know that women learn better in community? Try my new virtual community, The Wealth Connection and learn to Grow Your Wealth!

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A Hot Tip You Can Take to the Bank!

Written by Barbara Huson

“The power of compound interest is the most powerful force in the universe.” ~~Albert Einstein

How would you like higher returns with no added risk?? Seems too good to be true, right?  Well it’s not…if you put your savings into an online, high yielding, FDIC guaranteed cash account.  

As my favorite Wall Street Journal columnist, Jason Zweig, recently wrote: “With a few clicks of the mouse, you can crank up the yield on your cash by 2 percentage points, often adding hundreds—even thousands—of dollars to your investment income annually.”

I’m here to tell you. Switching to a higher yield can make a huge difference.

A few months ago, my ace bookkeeper, Ben Falge, suggested I transfer my savings, which was earning .09%, to an online account (Citigroup360) paying 2%. Didn’t seem like a big deal, but I did it. 

Last week he showed me what a big deal it was. My local bank had been paying me $185 in monthly interest. But that soared to $550 a month when I switched.  Just this week, I moved that money to another online account, Ally, paying 2.2% interest. Ben estimates my monthly interest income will rise to $650. Now that’s a big chunk of change!

I encourage all of you to ‘Just do it!’ Now!  Open a high paying online account. As columnist Zweig wrote: “You may never get an easier chance to raise your return at no extra risk.”

Do you have a favorite online bank you’d recommend? Leave a comment below.

Do you know that women learn better in community? Try my new virtual community, The Wealth Connection and learn to Grow Your Wealth!

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The Immense Power of Shifting Your Perception

Written by Barbara Huson

“There is another way of looking at the world.” When I read this lesson from A Course in Miracles (ACIM), I knew I had to share it with you. What I’m really sharing is the profound, but simple, secret to creating miracles AND rewiring your brain. 

 

The secret is this: whenever you’re upset, disturbed or challenged, try consciously changing, or reframing, the way you interpret an event. In other words, firmly say to yourself:  “There must be another way of seeing this.” 

 

Admittedly, reframing can be difficult. I’ve found three techniques that have helped me shift my perception—and, as I’ve only recently understood—reprogram my unhealthy beliefs and behaviors into much healthier ones (which, in itself, is a miracle).

 

One technique is what psychologists call Selective Attention—consciously selecting one thing to concentrate on while ignoring everything else. The absence of attention to what you don’t want weakens maladaptive neuropathways. For example, instead of constantly retelling your old story, talk only about your dreams and desires.

 

Another technique, first introduced by Carl Jung, is Shadow Work. When you don’t like or can’t accept parts of yourself, you disown those traits and project them onto another.  As I wrote in my first book, Prince Charming is simply a projection of the powerful, responsible part you refuse to acknowledge in yourself. When you take back your projections, you come to know the truth of who you really are.

 

The third, as described in ACIM, is understanding The Therapeutic Value of Fear.  Fear, discomfort or pain, the Course explains “is aroused only to bring the need for correction forcibly into awareness.”  For our prehistoric ancestors, fear alerted them to real and ever present danger. But nowadays, fear is alerting you that you’re listening to Ego and you need to course correct by tuning into your Soul. 

 

In my experience, the simple act of seeing things differently has been a game changer.

 

How about you? I’d love to hear about your experience with reframing.

Do you know that women learn better in community? Try my new virtual community, The Wealth Connection and learn to Grow Your Wealth!

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Why Wealth Matters

Written by Barbara Huson

I dream of the day when every woman knows, deep down, that she has the capacity to create wealth and the confidence to actually do it. 

I suspect for some of you, however, the mere mention of the “W” word feels wrong, bad, like ‘how can I be rich when so many are poor?’ 

But consider the words of Abraham Lincoln: “If you want to help a poor person, do not be one.” 

Besides, creating wealth is about far more than amassing riches. It’s about waking up to the truth of who you are and the power you have, the enormous power, to not only create wealth but to use it as a tool to help others.

I love how Rev. Michael Beckwith put it: “You can’t be light of the world if you can’t pay light bills.” 

Sure, I want you to be able to pay your bills.  But my deepest desire is to see you shining your light at maximum wattage, without the distraction of insufficient funds or unhealthy financial habits. 

No more dimming yourself down to please others or refraining from rocking the boat so you don’t make waves.  It’s time for you to make waves. Big ones. I want to see a tsunami of women shaking up the world, shining their light, eradicating the darkness that’s so pervasive on this planet.

How do you feel about creating wealth for yourself? I’d love to know. Share below.

Do you know that women learn better in community? Try my new virtual community, The Wealth Connection and learn to Grow Your Wealth!

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A Tribute to the Man Who Changed My Life, Financially

Written by Barbara Huson

I want to take a moment to pay tribute to John Bogle, the legendary founder of the Vanguard Group and the inventor of the index fund. 

John Bogle, who died last week, taught me more about the wisdom of wealth building than anyone else.

Bogle had a simple, though radical, message: buy a diversified portfolio of low cost funds and stay the course, regardless of the market’s gyration or your fearful emotions.

 “The mutual fund business is where you get what you don’t pay for,” he said. 

Amen to that. And history has proven him right. Over the past 15 years, passive index funds have outperformed almost 90% of actively managed funds.

“If all investors had heeded his ideas,” declared Warren Buffet, another legendary financier, “they would be hundreds of billions of dollars better off than they are now.”

It took me a few years and some painful losses before I discovered Bogle’s wisdom. I’m beyond grateful I did. For over two decades, despite 9 market crashes (when the market falls at least 20%), I’ve done quite well. 

From the bottom of my heart, I say thank you, John Bogle. You left the world a better place.

What teachers are you grateful for in your life? Leave me a comment below.

Give yourself the Gift of Wealth in 2019! Join my virtual community, The Wealth Connection and Become a Savvy & Confident Investor!  Learn More!

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The Caterpillar Story

Written by Barbara Huson

Two caterpillars spy a butterfly overhead. One turns to the other and says “You’ll never get me up in one of those things.”

Do you ever feel like that caterpillar?  Part of you wants to fly. Another part clearly doesn’t.

That’s precisely what’s going on when you feel stuck–an internal conflict. Part wants to. Part doesn’t.

The trick to getting unstuck isn’t by denying or disputing your resistance. What you ignore, you empower. What you resist, persists.

I speak from experience. After my divorce, I tried hard to learn about money. But nothing worked. I’d pick up a book, attend a class only to fog up, glaze over, give up. Until one day, a therapist challenged me. 

“You know Barbara,” he said bluntly, “you really don’t want to get smart about money.”

I couldn’t argue. In that moment, I met the part of me that desperately wanted to stay ignorant. The part that was terrified of angering her parents, losing everything, and most of all, afraid no man would love a financially savvy woman. 

I spent months getting to know this part. But I also did something quite smart. I kept repeating affirmations in an effort to fortify the other part. I AM smart about money. I AM excited to learn. I AM a great role model for my kids. I AM attracting a man who loves a powerful woman.

I now realize I was literally rewiring my brain. Instead of dwelling on what scared me, I focused on what I wanted to create, how I wanted to feel…even if it seemed impossible.  As neuroscientists tell us, what flows through the mind creates pathways that wires the brain 

Slowly the fog lifted. I actually began enjoying the learning process, seeing results, relishing how powerful I felt. Those feelings haven’t changed in over 30 years. 

How do you focus on the change you want to create? Leave a comment below.

Do you struggle to understand investing? Men and women view wealth & power through very different lenses. Join me for this FREE call: Women & Wealth: We’re Different than Men & Why that Matters and I’ll help you become a Savvy Investor and begin to build Wealth, as a woman. Register Now!

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An Exercise for Rewiring Your Brain

Written by Barbara Huson

Last week, I heard from a client who was close to tears. Her husband’s business unexpectedly went belly up. Suddenly, they had no income. She was forced to get a higher paying job.  

“Do you think this crisis has anything to do with my decision to make more money and my lack of action?” she asked.

Obviously, it was a rhetorical question.

 I see this pattern all the time. Women who avoid money—making it or managing it—until a crisis hits. Either their world falls apart or feels like it’s about to. That’s when they finally take action.

I did it myself. I waited until a million dollar tax bill almost wiped me out.  Not smart!!

How about you? Are you avoiding financial stuff until the pain gets worse than the fear? Are you looking for a way to get moving without having your world violently (or even mildly) shaken?

If so, try this exercise. It’s called Selective Attention,a powerful tool for rewiring your brain. Focus on what inspires you and stop dwelling on what scares you. It’s a fact: What flows through your mind wires your brain…which governs your behavior.

To change what you do, first change what you think.

Instead of obsessing on all the things that can go wrong, try turning your thoughts to what more money will give you. Think about the freedom, the peace of mind, the myriad of choices financial success makes possible. Think about giving your money to causes you feel passionate about,helping your kids, your parents, people you love. 

That’s what I finally did. I started thinking about what kind of a role model I wanted to be for my daughters instead of fixating on my terror of screwing up. When I made that deliberate shift, when I forced myself to think about how I would be helping my girls, I had no choice…financial avoidance was no longer an option!   I’d love to hear other ideas for getting unstuck.  What worked for you? Leave me a comment below.

My gift to you…get my free pdf 12 Tips for Building Wealth During the Holidays. Download Now!

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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