MONEY MIND$ET:Uncovering and Eliminating the Blocks to

Making and Keeping More Money

Lisa SmithMindset & Marketing Coach

www.mmmcoach.com

Life by Design, LLC

WOMEN & MONEY MIND$ET:Change Your Mind to Change Your Bank Account

 

WHAT money REALLY is (this may surprise you)

The DIFFERENCE between how MEN and WOMEN think about money

WHY you are having problems with money (it doesn’t have to do with your job, the economy, or anyone else)

The FIRST THING you MUST work on to CHANGE your relationship with and experience around money (if you don’t work on this, you will CONTINUE to have money struggles)

What Money REALLY Is (this may surprise you)

$ A medium of exchange that facilitates trade (dict.)

$tatus indicator Illusion—made up and

generally accepted$ocial/hierarchical

divider

$ymbol

Energy (currency)

~ needs 2-way flow

$ ≠ Wealth – cannot make self richer by printing more money

$ A representation of value/worth

$ A way to make “perceived value” tangible & interchangeable

A means to get what you want

Idea of “security”

Money is Energy – we trade our life energy for this representation of its worth

Money is a representation of value/worth^

our

Self Worth Net Worth

Low self worth =low income/low bank account

OR Low self worth =overcompensation w/

money, NEED for status boost with lots of $$

The DIFFERENCE between how MEN and WOMEN think about money

In Sept. 2011, Ramit Sethi, author of I Will Teach You to be Rich  surveyed 1,167 of his blog readers on their attitudes toward finance. Many of the stereotypical beliefs regarding how genders view and handle money were proven true, like men being more confident and aggressive about their personal financial situations.

58% of men feel more confidence toward their money and finances, compared to 44% of women. Females also feel more anxiety toward finances (33%) than men (18%).  28% of the male respondents reported to always negotiating their salary, compared to only 19% of women respondents. Men are more interested in investing (83%) and entrepreneurship (54%), while women prefer the topics of savings (79%) and frugality (67%)."Women started to enter the workforce in major numbers only about 30 years ago," said Steinberg of Daily Worth, "so their desire to understand and practically manage money has been delayed."A recent retirement survey from ING Direct and DailyWorth found that 78% of women say they lack financial savvy or are still learning about retirement planning. Additionally, 1 in 3 married women admit they give power to their spouse or significant other for their retirement planning.

The DIFFERENCE between how MEN and WOMEN think about money

According to a combined survey done by Ask Men and Cosmopolitan:

45% of men have a plan for retirement and either are currently saving or will start saving for retirement soon."

Men – traditional/cultural role of earner/provider bring home the bacon taught about money/encouraged to learn about it; acceptable to discuss

Women – traditional/cultural role of caregiver, facilitator fry it up in a pan not taught about money/encouraged to learn about it; discouraged from discussing

STATUS

SECURITY

Only 21% of women have any plan, and 45% of women surveyed said they “have not even thought about retirement."

Money Relationship AssessmentRate the following issues in regard to how you are with money0 = Never 1 = Sometimes 2 = Frequently 3 = Most Always Employees Sales/Biz Owners

____ You worry about money or tell others you don’t have enough money

____ You and your significant other argue a lot about money

____ There are things you really need to replace (car, appliances, home repairs, clothes) but can’t seem to find the money to do it, so you tolerate them or keep “mending” them over and over

____ You have an “income ceiling” you can’t seem to get past

____ You have a hard time saving money. It always seem to “slip through my fingers”

____ You are too embarrassed or overwhelmed about your money situation to even talk with someone about helping you change it

____ You have a hard time asking for a raise/negotiating salary____ You stay in a job you don’t like because you’re afraid you can’t make enough doing what you love____ You live paycheck to paycheck (and are even “short” at the end of the month)

____ You have a hard time asking your customers for money/to pay you for your services

____ You attract people to your business who say they want to buy from you but “don’t have the money”

____ You feel like you need to raise your rates/upsell your products but you’re afraid if you do, people won’t buy from you or think you’re pushy/greedy

____ You’re hoping you can just find a man to take care of you so you don’t have to worry about money

anymore

Money Relationship Assessment Score

0-10 You have a very healthy relationship with money. You likely have no or few issues with money. Congratulations. Now make sure to protect it so it can always stay that way.

11-20 You’re not doing too bad with your money relationship. There may be occasional “spats,” but they usually don’t last long and you are adept at working them out. Or there may be just a few areas that are more troublesome to you. There is room for growth for a more satisfying relationship.

21-30 Money is not your “honey.” Your relationship with money is in the dumps or like a roller coaster with highs and lows. It feels unpredictable to you or a constant focus and sense of worry/fear. It’s likely been a pattern with you for some time. It’s time to establish a healthy relationship. 

WHY you are having problems with money (hint: it doesn’t have to do with your job,

the economy, or anyone else)

1. Lack of knowledge/training/planning

2. Your Money Setpoint (on what acceptable to spend)

3. Your Money Thermostat (what acceptable to earn/have)

4. Limiting Money Beliefs (review assessment)

A man is not a plan!

5. In business – how you buy how you sell

WHAT you MUST work on to CHANGE your relationship with and

experience around Money

Lack of knowledge/training/planning

• 5 Rings Financial Services

• Books• Training

OR

Limiting Money Beliefs

• General (e.g., money is hard to come by, rich people are greedy)• Specific

Your Money Thermostat (what “acceptable” to earn) Your sense of self-worth/value Your Money Setpoints (what “acceptable” to spend on

various things; often related to self-value)

WHAT you MUST work on to CHANGE your relationship with and

experience around Money

#1 THING to work on (if you don’t work on this, you will CONTINUE to have money struggles)

Your unconscious programming

• I’m not good with money• I can’t hold on to money• Money is “bad”• Rich people are snobs/greedy• It’s bad to be wasteful/want more than you need• If I have money, people will try to take it away from

me• If I get something, someone else can’t have it• It’s wrong to have/want extra when others don’t

have enough/the basics• Money’s not important• It’s no fun to save money instead of spending it• If I make more money, it will upset someone in my

family• The man should be the one earning/taking care of

the money • A woman shouldn’t make more money than her

partner• If I make a lot of money, I may lose my friends

What I know/do isn’t very valuable/worth much• I don’t deserve to have a lot of money• Money isn’t spiritual• It’s wrong to charge money/a lot for helping others• Money is hard to get/come by• I have to work really hard to earn (a lot of) money• You shouldn’t talk about money• I’ll never have enough money• There’s not enough for everyone• I can’t imagine myself earning more than

$_________ per year (fill in blank then give rating)

• You worry about money or tell others you don’t have enough money

• You and your significant other argue a lot about money

• There are things you really need to replace but can’t seem to find the money to do it, so you tolerate them or keep “mending” them over and over

• You have an “income ceiling” you can’t seem to get past

• You have a hard time saving money; it always seem to “slip through my fingers”

• You are too embarrassed/overwhelmed about your money situation to even talk with someone about helping you change it

• You have a hard time asking for a raise/negotiating salary

• You stay in a job you don’t like because you’re afraid you can’t make enough doing what you love

• You live paycheck to paycheck (and are even “short” at the end of the month)

• You’re hoping you can just find a man to take care of you so you don’t have to worry about money anymore

MONEY TREE

LEAVES(Results)

BRANCHES(Emotions)

ROOTS(Beliefs)

SOIL(Experiences, Teachings)

MONEY TREE(healthy)

LEAVES(Results)

BRANCHES(Emotions)

ROOTS(Beliefs)

SOIL(Experiences, Teachings)

LEAVES(Results) BRANCHES

(Emotions)

ROOTS(Beliefs)

SOIL(Experiences, Teachings)

MONEY TREE(not so healthy)

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