Women & Wealth
interesting image

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 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

Interesting Image

Why Financial Confidence is so Elusive for Women

Written by Barbara Huson

I’m sure we can all agree. There’s no lack of info about money. It’s everywhere. So why, according to a 2015 Fidelity survey, do 80% of women lack the confidence to protect themselves financially?

I have a theory.
 
Managing money is a very different experience for men and women.  For men, investing is a practical process all about the transaction. Performance is everything.

For women, investing is about far more than amassing money. It’s about who we have to become, the internal changes we need to make to counter our cultural conditioning. This can be a very emotional process.   

But financial educators tend to take a strictly intellectual, left brain approach, deliberately steering clear of what’s been derisively mocked as ‘touchy-feely’ finances, shunning the very components that speak to, inspire and motivate women.  

I’m convinced, unless we explore our emotions, along with the facts, we’ll remain in resistance.  

We need more financial courses (and books) that look like this:

  • While studying the difference between growth and value stocks, you also focus on personal growth and valuing yourself.
  • While defining market risk and how to minimize it, you overcome your own resistance to taking those risks.
  • While engaging in financial planning for future goals, you work on disentangling yourself from the outmoded beliefs and prior programming holding you back.


Here’s an excellent place to start: Download the Money Minder® Personal Autobiography ebook for free here: http://www.financialrecovery.com/free-stuff/

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

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 $10m who don’t feel rich. I know many who have far less, 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.

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

Interesting Image

Let’s Talk About the Taboo

Written by Barbara Huson

I’d like to share an exercise I gave participants at a recent retreat. I call it The Sacred Wealth Circle.

On a blank piece of paper, draw a large circle. Inside the circle, write the names of people you can talk to about money, wealth, and power.

Then, outside the circle, write down the names of people you are close to, but can’t discuss finances because they tend to be naysayers or aren’t interested.

What did you discover?

To create wealth and claim our power, we need support…from other women, mentors and financial experts. Sure, no one can take responsibility for us. But we cannot—should not—do it alone.

An Emory University study revealed: “The pleasure and reward centers of a woman’s brain light up if they can work towards their financial goals in collaboration with other women.”

The world needs more supportive communities of women talking openly, candidly about topics that have been taboo for centuries: money, wealth, and power. Won’t you join me on the first Monday of every month for my free call? https://www.barbara-huson.com/seminars/money-mondays/

It’s a safe place to talk about money, as women.

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

Lifting the Financial Fog

Written by Barbara Huson

I lived most of my life in a financial fog. But the fog finally lifted when I stopped focusing exclusively on the Outer Work of Wealth (practical), and began doing the Inner Work of Wealth (psychological) and the Higher Work of Wealth (spiritual).

I’m here to tell you, when these three strands are braided together, miracles occur.  Attaining knowledge and competency is important, just as releasing emotional blocks and outmoded beliefs are liberating.

But when you bring in the third prong, the Higher Work, you’ll notice a significant shift.  When you take the admonition on our currency to heart—In God we trust—something remarkable happens.

Resistance dissolves. Fear shrivels. Discouragement gives way to inspired commitment and impressive courage. Struggle is replaced by unexpected synchronicities and a deep sense of trust in the inexplicable forces of the Universe.  The process becomes a transformational journey, a sacred initiation into our power.

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

The Busy Woman’s Blueprint for Wealth Building 

Written by Barbara Huson

Soon after divorcing my gambling husband, I got a call from a friend of my father. He wanted me to invest in a Limited Partnership he was forming, TJ Cinnamons, a fast food place that made sticky buns.

I had no idea what a Limited Partnership was, but this man was wealthy, smart, successful, so it had to be a great thing, right?

I didn’t know that you can’t sell shares in a Limited Partnership because there’s no market for it. When TJ Cinnamons went under, I lost my investment.

That calamity taught me a critical lesson. I call it the #1 Law of Investing: Never put money in anything you don’t understand. I was determined to educate myself.

That’s when I devised The Busy Woman’s Blueprint for Wealth Building. Otherwise known as the Osmosis School of Learning.  It consists of only 2 steps. Do them consistently, and you will be amazed, in just a short time, how much smarter you’ll be.

1) Everyday, read something about money, even if it’s just for a minute or two, even if it’s just glancing at the headlines of the business section of the newspaper, or a money magazine while you’re waiting in line at the grocery.

2) Every week, have a conversation about money.  You can learn so much from people smarter than you. Anytime you meet someone versed in investing, ask how they got smart, the mistakes they made, and what they’d recommend to help you learn.

Try these 2 steps and watch what happens. They worked so well for me that, to this day, I still do them.

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

A Sneak Peek into The Women’s Wealth Weekend

Written by Barbara Huson

I’m ready to throw back the curtain a bit, give you a glimpse of what I have planned for my Women’s Wealth Weekend: The Awakening.

I promise, you have never attended an event like this. I’ve been wanting to do this for years.  I finally worked up the courage to take you on a unique Metafiscal journey that answers an important question:

Why are a small minority of people, the top 20% (what I call the Enduring Affluent), able to not only create but increase their wealth, over long periods of time, despite often significant setbacks?

This weekend is not about fixing you or changing you. It’s about waking you up to the truth of who you are, the power you have to literally move mountains, as women.

My intention is to challenge your thinking. I have only one request. Come with an open mind—willing to accept that much of what the world has taught you, much of what you’ve learned about who you are, could be wrong.

Here’s the sneak peek into the agenda for this special event:

Day One: Friday

The amazing Amanda Steinberg, founder of DailyWorth.com & WorthFM, will talk about your money type…what really motivates you to wake up financially.

Find out which type YOU are at www.moneytype.me. You may be surprised…you will absolutely be enthralled, by her eye-opening talk. Then we’ll have dinner together in a private pavilion.

Day Two: Saturday
 
You’ll dive deep into Power Training. Not as the world defines power. But as the Awakened understand it: Mind Training. You’ll learn a simple but profound 3-step process for harnessing the power of your mind to create the wealth you desire and the life you deserve.

Day Three: Sunday

You’ll learn about Wealth Creation, but, again, not as the world teaches it. You will be infusing spiritual wisdom and personal insight into basic wealth building principles.

 

Day Four: Monday

On the final day you’ll create an individualized plan for moving forward as an Awakened Woman. And you’ll learn about options for follow up support. We’ll conclude with a farewell lunch.

As a Chinese proverb says:  “When sleeping women wake, mountains move.” It’s time to wake up. This crazy world needs Awakened Women. So that we may go out and help awaken others.

If you are ready for the Awakening, I urge you to click here to register today. And, don’t miss out on the special VIP package—it disappears this Thursday, September 8th.

 

Woman with Financial Plan

Gotta Plan?

Written by Barbara Huson

I vividly remember a woman in one of my classes who stood up and proudly announced that she had maxed out her 401(k) and had a hefty portfolio outside her retirement. She’d been buying stocks based on the recommendations of her cousin who worked at a brokerage firm.

She had a right to be proud. But when I asked if she was following a plan, she looked bewildered.

“How do you know if the portfolio is properly diversified for you?” I asked. “How do you know if you’re taking too much or too little risk?

I then explained the difference between gambling and investing.

Picking stocks or bonds haphazardly, following a hot tip or purchasing the hottest fund, trying to time the market (buying when it’s high, freaking out and selling when it plunging), or just simply deferring investment decisions to another and turning your back…that’s gambling.

Investing, on the other hand, is a means to an end. The whole point of investing is to put together a portfolio that ensures you meet your goals.  If you don’t have some sort of idea of where you want to end up, it will be far more difficult to make the right choices.

A  good financial plan addresses three questions: Where are you now financially? What are your goals (short term and long-term)? What do you need to do to achieve your goals?

Once you identify the gaps between where you are now and where you want to go, you can create a realistic game plan with the right mix of investments based on your time horizons, budgetary restrictions and risk tolerance (how much volatility can you stand and still sleep at night).

Sure you can do this on your own. But my advice: Hire a fee-only Certified Financial Planner or a financial advisor you trust.

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

Diversify your basket

How Many Baskets Do You Have?

Written by Barbara Huson

I saw a cartoon that cracked me up. A financial advisor sat on one side of the desk.  The Easter Bunny, with a big basket of eggs, on the other. The advisor, leaning forward, warns the bunny: “Never put all your eggs in one basket!”

The advisor of course was giving his client the classic admonition: Diversify! Diversify! Diversify! Or put your money (eggs) into many different baskets.

You can significantly minimize risk by spreading your money out among the five asset classes:  stocks, bonds, real estate, cash and commodities. Every asset class can be further divided into sub-classes.

The idea is that different asset classes, or sub-classes, react differently to various conditions and time periods. It doesn’t always work that way. Sometimes a turbulent sea sinks all ships.

But for the most part, diversification protects your overall holdings.

In fact, studies indicate that diversification accounts for 93% of a portfolios’ overall performance; 2% comes from stock picking; 3% from luck.

Two percent from stock picking!!! We make ourselves crazy trying to find the best companies, when we should be putting more energy into making sure we’re properly diversified over numerous categories

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

Stock Market Chart

A Very, Very Painful Lesson

Written by Barbara Huson

My first big mistake came with my first foray into the market. It was 1986. I hired a financial advisor and gave him the little money left after my divorce. He’d send me the monthly statements, but I tossed them in the trash, unread.

Then, October 19th, 1987, the market crashed with a vengeance… the biggest market crash since the depression. I called my broker, told him to sell everything.

He begged me not to.

“Barbara, the market will go back up. It always does,” he assured me. “And you’re going to have capital gains taxes to pay.”

I didn’t know what capital gains taxes were, but it didn’t matter. I wanted my money out where it was “safe.” Big, fat, awful mistake. The market went back up and very quickly.
 
That fiasco taught me well. In the 20 plus years I’ve been investing, despite living through at least 8 crashes, not just correction (when market falls 10%) , but full on crashes (when the market plunges 20%), I’m proud to say, I’ve done very well for myself. Instead of panicking, I stayed the course.

The next time the market plunges, if you tend to panic, let me give you some sage advice. Turn off the TV. Unplug the computer. Don’t look at your investments. Ignore the naysayers. Get a massage and remind yourself that the market will go back up…because it always does

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.

Top Back To Top
Site Design Rebecca Pollock
Site Development Alchemy + Aim