BLOG – What do women feel about money? Stress, Shame, Fear and Envy (2 minute read)

Last week I co-hosted a ‘Empowering women to take control of their money and mortgage’ workshop. We asked the ladies to share their feelings about money. This is what they said:

“Stressed – Shame – Fear – Envy – Embarrassed – Uncertain – Lacking – Deprived – Overwhelm – Controlled – Hopeless -Optimistic – Excited – Change”.

Do you agree or disagree?

The feelings I have about money include: Freedom, Security, Choice, Opportunity and Work.

I agree when women say that they feel overwhelmed by all the options.

They are right. It is overwhelming.

There are Apps, Books, Experts, Talks, Seminars, Blogs, Magazines, Workbooks, e-Courses, Podcasts, online programs, live programs, 3 day programs, multi-week programs, events, Training Courses, Financial Planners, Financial Advisors, Financial Brokers, Budgeting services and even Budgeting Butlers – they’re the people who manage your money for you!

There are perhaps too many choices available today.

In my 2nd TEDx Talk I talked about the 7 Sticking Points that prevent change. One of the ‘sticking points’ is ‘Too many Choices’. There are so many choices – all those Apps, books, experts and programs – that it’s overwhelming. Too many choices lead us to question everything. We feel, and get, overwhelmed and end up doing nothing.

Do you agree?

In 2014 I JUST did what felt right for me. That’s why I say “This is what worked for me” or “These are the 7 steps that worked for me”.
Step 1. I identified my passions and priorities
Step 2. I made a budget and sorted out my banking
Step 3. I got people in place to help
Step 4. I inspected, assessed and organised my stuff
Step 5. I got into swapping, sharing and selling
Step 6. I used everything that I already had
Step 7. I got out and had fun

I didn’t buy anything new or 2nd hand in 2014 and saved $52,680 (38% of my salary). I broke my habit of impulse shopping and ‘buying just for the sake of buying’ – I changed my spending and transformed my savings. It started as a lifestyle experiment (a spontaneous New Years Resolution!), but it changed my life, so I kept on going. For me, the benefits of being Underspent are spending less than is expected or required, money/cash in the bank, breaking my shopping habits and being happier and more content.

What are your feelings about money?

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SPECIAL OFFER. Perfect for employee Christmas gifts, finance companies, Financial Planners, HR teams and conferences. 100 Underspent books for $1,000 (plus P&P if outside Brisbane). Email me to place your order E: Rachel@cyclingrachelsmith.com

Until next week…