Research shows that if you ask a woman why she’s in business, she’ll say for independence and to help others. But if you ask a man, the most common answer is to make money.
The difference between these two answers tells us a lot. Why is this important to you as a woman in business?
Let’s take a look…
Honestly, what little girl doesn’t love the idea of Prince Charming rescuing the "sleeping" (or otherwise unconscious) beauty so they could live happily ever after?
But here’s the thing… Most of us princesses have grown up. If we did find our Prince Charming, our “prince” probably didn’t rescue us financially. In fact, sometimes HE was the one that needed rescuing!
The idea that our finances will “take care of themselves” if we just wait long enough is a lot like that fairy tale. But it’s a storyline that sets us up to be passive – and avoid taking responsibility for our own finances.
YES, it’s TIME to take our heads out of the financial sand and move past this fairy tale fantasy.
How? An easy step and commitment is to START paying more attention to your money now. Make a decision to start tracking your financial numbers which in the simplest terms means your inflow and your outflow – your income and your expenses.
Let’s be honest. As business women, we can’t afford not to know what’s going on with our money. I look at my bank balance almost every day. Why? Because Knowledge is Power.
So, Here’s Your First PowerUP Action Step.
Take the “Where’s My Money Going?” 30 Day Challenge
Buy a small notebook to keep in your purse and every time you spend money during the day – write it down in your notebook. And do this one simple action step for the next 30 Days!! That’s it!
You can get a small notebook at the grocery store – or you can download an app on your SmartPhone and - or use it’s Note function. How you do it isn’t important – what’s important is to track every single expenditure over the next 30 days. Eye-opening and awareness building.
And, please let this be a non-judgment zone. This is not about beating yourself up whenever you spend money on something – this is about raising your money consciousness.
The other day a woman who took the challenge shared that she realized her bakery visits were costing more than the money spent. They were conflicting with her goal to lose weight. Another client had a huge A-HA when she counted up how much she spent on dining out each month - $1200.00. She quickly corrected this spending lack of awareness.
Remember – being money savvy isn’t just about making more money – it’s about valuing and caring for what you already have too. This is a great first step in tuning in to where your money goes and also beginning to value every penny of that hard earned dollar!!
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Certified Money & Business Coach, Professional Speaker & author, Lynn Telford-Sahl, writes the weekly PowerUP Your Money blog for women in small business and direct sales.
If you’re ready to PowerUP your Money & Your Business Here's your Free download: 50 Ways to Boost Your Money bit.ly/1Ii9n1m