If you're one of the women who's constantly struggling with money and don't know how to turn your situation around, I want to share with you some practical advise. Because I can really relate to your struggle. I've been there myself, and not that long ago, either. But let me first share with you a little bit about my background:
I grew up as the youngest of 6 children in a small town on the west-coast of Norway in the 1960s and '70s. I lived in what you might call a middle-class family. My father worked for the railway, and my mother was a housewife for most of my childhood and teenage years. My parents were the best parents I could ever get. They were very supportive and kind and I had a great childhood. But they taugth me what they had learned when they grew up, like "You should go to school, get a proper education, and then find a decent job". And I often heard that "money doesn't grow on trees" and that as a good Christian girl I shouldn't strive to get rich, because that was .... well, not good.
So I did what most other girls at that time did: I went to school and worked hard to get good grades. Then I found myself a job and started a family. And I settled for that for quite a few years (more than 20, actually). Because we had a good life, really, - we had a good economy (well, fairly good anyway), and we had our own house and 2 wonderful children... And my husband was a kind man, and everything was OK, really...
But I came to a point in my life where I was feeling more and more that I was living my life on other people's terms. My life wasn't in accordance with who I really am. So I made some tough decisions. I ended up divorcing my husband, and I moved to a new town where there were only part-time jobs or vacancies available when I arrived there. I was even unemployed for a long time.
So I really struggled with money, and when I finally got a job, I wasn't earning enough to cover my monthly expenses. I lived paycheck to paycheck, and I really, really struggled. I ended up using credit-cards to keep my head above water. And after a while I found myself in a situation where I had maxed out all my credit-cards and there was nothing left but debt.
So I felt like I was in a swamp that I couldn't see any way out of. I tried a lot of things to turn the situation around. I applied for lots and lots of jobs. I looked on the Internet to see if there were any solutions there. But for a very long time, I couldn't find anything that could get me out of that situation and move me forward.
Until one day when I came across some really sound advice on the Internet that actually helped me turn my situation around. So I want to share that with you, but first I want to tell you about the 5 biggest mistakes women make that keep them struggling with money and never living the life they truly want. I'll start with Mistake # 5 and finish with the biggest mistake at the end.
Biggest mistake # 5: Emotional spending.
What do I mean by that?
Well, you know when you're feeling sad or angry and that nothing's going the way you want it in your life? You never have enough money to go on a vacation or buy something that costs a little bit more money than what you normally spend ... And you feel so frustrated and you say to yourself: "Damn it! I have to be able to do something to be happy! I should be able to treat myself to something nice now and then!" And then you go out and spend money on some new clothing, maybe some expensive shoes, some flowers, chocholate, a magazine or two ... or three... You know: The whole package, just to make you feel good.
And of course, it does make you feel good, there and then... But the thing is: When you go shopping in that state of mind, when you're either sad or angry, you probably end up spending a lot more money than you should. And you're probably using credit-cards to pay for it. Right? I know, because I've been there. Believe me: I've done a lot of emotional shopping in my life! And, like I said: It probably makes you feel good there and then, but for me - and I think maybe that's the case for you as well, - after a while I regret the spending. And because I used credit-cards to pay for it, I also end up deeper in debt than I was before. Right? So the problem will only escalate.
So my advice to you is this: Never go out shopping when you're feeling emotional, whether you're angry or sad or whatever. Because you will only set yourself up for failure and get even deeper into trouble. So resist that urge to go shopping when you're emotional.
This picture by unknown creator is licenced under CC BY-NC-ND
Biggest mistake # 4: Making financial decisions out of guilt.
Many women have a tendency to feel guilty when other people are in trouble, and they want to help out. They feel that they have to contribute to a difficult financial situation even if they can't afford it. Maybe you're like that, too. It can be a family member or a friend who needs money, and you feel that you just have to give it to them, even if you can't afford it.
I suggest you stop doing that, if that's something you have a tendency to do. Because you'll only risk you own financial success just because you feel guilty. Of course seeing a friend or a family member in dispair is devastating every time, so of course we want to help. But you know when you're on a plane and they go through the safety instructions, they tell you to put your own oxygen-mask on before helping others? Well, that's exactly the same principle you should be following in your financial life. Because you can't help anyone else if you're falling off a cliff yourself financially. That makes sense, don't you think?
So my strong advice to you is this: Don't give or lend out money to anyone else if you can't afford it, and if you can't be absolutely sure to get that money back before you need it yourself. You might never get it back, right? Then what?
Biggest mistake # 3: Trying to keep up with everybody else and surrounding yourself with big spenders.
If you're one of those women who keep comparing yourself to other people, like your colleagues, your neighbors, your friends, - again, you're just setting yourself up for failure. Because if you keep doing that, you'll just constantly feel that you don't have enough. So instead of comparing yourself with a lifestyle that isn't yours, you should be comparing yourself to yourself. Look at how far you actually have come, and think about what it is that you want for yourself in the future.
It's a dangerous trap when you keep comparing yourself to others. Because you don't know how they manage to have that lifestyle. In many cases people live on loans or use credit-cards to support their luxurious lifestyle, and that's not the way to go about it. It only leads to financial disaster. So make sure you stop comparing yourself to others. Focus on what it is that YOU want. And focus on getting out of debt, if you have any and you're struggling with that.
Regarding what I said about big spenders:
Maybe you've heard the saying that you are the average of the 5 people you spend the most time with? So if you're spending a lot of your time with people who are big spenders, and who live on loans and credit-cards to maintain a luxurios lifestyle, then that is something you should do whatever you can to avoid in the future. Stop surrounding yourself with people who make you spend a lot of money too, because that's most likely what happens. There is most likely a certain pressure to fit in, and we mirror other people's behavior whether we realize it or not. So don't fall into that trap. Try to set an example. Try to focus on living within your means.
Of course I'm not saying that you shouldn't strive for a lifestyle where you can afford to buy things without having to think about what they cost. On the contrary: I think you should try to get in a situation where you are that wealthy. But for the moment, when you're not, you should try to focus on setting an example: that this is a kind of spending you're not willing to keep up with. And make sure that you just focus on yourself and not everybody else.
Biggest mistake # 2: Feeling intimidated by personal finance and leaving your finances to someone else.
We've never learned about personal finances in school, or how to deal with money. What many women have been told, however, is that we should leave our personal finances to some man in our life: A father, a brother, or a husband - or some financial adviser at the bank. So if you're one of those women who have done that, - you've relied on some man in your life to take care of your money (and that man has been a husband, most likely): STOP DOING THAT!! Why? Because there's absolutely no guarantee that that man is going to stay in your life forever. Maybe he's already left you, for all I know, and that's why you're struggling. Because you've never been used to taking care of your money yourself. Anyways: If you do have a man in your life right now that you depend on: Stop depending on him! Because he might disappear out of your life in a jiffy.
I'm not trying to scare you or anything, but it's a fact: There's absolutely no guarantee that he'll stay in your life forever. He might disappear all of a sudden, either by death or divorce or imprisonment ... or even by war. So it's a dangerous trap to rely on someone else like that. Stop doing that.
There's also no guarantee that he's capable of taking care of money in a better way than you can, just because he's a man. He might end up ruining you both and you won't know anything about it before it's too late. So what then?
You're perfectly capable of taking care of your own money. In fact: You're the best person to take care of your money! Because you're the one who needs to make ends meet and should be in control of what comes in and what goes out of your bank account. You shouldn't leave that with anyone else. Especially if you're a single woman and don't have anyone else in your life that you share finances with, you should be in full control of your money. Don't leave that to your father or brother or some accountant.
You need to find a way to manage your money in a good way. You just have to learn it. It's not impossible. It's not even difficult! In fact: At the end of this blog post, I will tell you how you can get a system that will help you take control over your money in an easy and good way. But right now, let's move on to the # 1 biggest mistake women make that keep them struggling with money.
Biggest mistake # 1: Thinking that your financial future is out of your control.
This is a huge mistake. Because I'm telling you right now: Your financial future is 100 % in your control! But you have to choose to make your future better. If you're living a mediocre life right now or you're constantly struggling with money, then it's about time that you do something about it. Take responsibility. Decide that you're going to learn how you can manage your money in a good way, and then implement what you learn. And that is key. Because knowledge mean absolutely nothing if you don't implement it. Right? That's really a no-brainer, but I just want to make that perfectly clear.
Let me congratulate you!
Now you know a little bit more about the biggest mistakes women make that keep them struggling with money. You also know a little bit more about how you can avoid doing those mistakes yourself. That's a huge step in the right direction, and you have every possibility to actually start doing something about your financial situation. You can be proud of yourself for actually taking the time to read through this blog post. I know you probably have a lot on your plate, so I'm glad you took the time to read it.
How you can start taking control over your money today.
I strongly suggest that you make that decision now: That you will find a way to take care of your finances. You will learn how to do it, and you will stick with it and make sure you get the results that you want. You will make sure that you get the life that you truly want and deserve.
Because you deserve to have a life of abundance. A life where you don't have to worry about money. And if you're in a situation right now where you're struggling, here's what I want you to do:
# 1: Stop blaming yourself for this situation.
Yes, that's right: Don't blame yourself for having "messed up" or for having made unwise decisions about money in the past. I'm sure you've done your best under the circumstances. And we never learned about this in school, so you can't blame yourself for not knowing what you didn't know, - right?
So stop the blaming, and just decide that you will make a change. Take responsibility for the situation and just decide to do better from now on.
# 2: Get clarity about your financial situation.
What does your financial situation actually look like?
This may seem difficult, but it's really not. You just need to write down what your income is and what your monthly expenses are, and not leave anything out. How much debt do you have? What is your monthly down-payment on that? Do you have any subscriptions or other monthly fees that you pay but have lost control over? And so on...
#3: Learn a system for managing your money, - one that is easy and that you can stick to.
This is where I want to tell you about my Money Managing Program, Fun & Easy Money Managing For Female Life Designers. It's a very easy and accessible program, because I know that if you're in a situation where you're struggling with money, you simply can't afford any expensive programs. So I've made it very affordable for you. It was originally priced at $99, but it's now only $39. In fact, I'll be bold enough to say that if you're struggling with money, you can't afford not to buy this program! It's based on systems that even millionaires use to control their finances. Heck, it's because of this and similar systems that many of them have become millionaires!
But you don't have to be a millionaire to make use of it. Anybody can use this system, because it's easy and yet so powerful. Remember: It's not the amount of money you start out with that decide whether or not you'll be rich. It's the way you manage it that matters. The habits of your day-to-day money management.
That's why I really hope you'll buy this program. It has the potential of becoming a life-changer for you, and you even get a 1 Year Money Back Guarantee should you not (after having implemented what you learn) be happy with the results you get from it.
Here's where you can buy the program Fun & Easy Money Managing For Female Life Designers . The link will take you to the product page where you can read a little bit about what's included in the program before you decide to buy it.
I wish you all the best for your new life, and hope you have found this blog post useful.
Hi, I'm Else Kosberg, a multi-passionate creative woman, motivational speaker & writer, passionate traveler, and a firm believer in the unique value and greatness of all of us and in the freedom we all have to live our lives unapologetically on our own terms, regardless of gender or ethnic, cultural or religious background.