Several years ago, Smart Women’s Empowerment had a survey asking women, “What’s the single biggest challenge holding you back from living your perfect life?” 

The results were fascinating. Money was number one, followed by Confidence, and Clarity.  This tells me that although women need help with these topics, they don’t know where to start. 

In a Fidelity Investments study, two things stood out:

  • Half of the women who have an investment firm have never spoken with their advisors. This shows women are very uncomfortable talking about money.
  • The study also confirmed that the biggest roadblock is a lack of financial confidence and an overriding feeling that It’s too personal to discuss finances.

This is why our programs are so important. 

We encourage women to talk about money and their relationship with it.  When I’ve taught financial literacy to women in transitional housing, the women there had huge shifts.  This comes from creating a safe place for them to share their experiences while learning new ways of thinking about what is possible in their lives. 

After checking back with these women a year after working with them, I found that they had gone from feeling down and out – literally homeless – to graduating from college, getting great jobs, and even buying homes.

The biggest impact is how this new mindset can help these women become better role models for their children.  These are smart women, but because of their experiences with money, many have told me that they don’t hold on to it because they associate pain with it.  So, it’s time to start having new conversations about understanding our relationship with money.

After working with hundreds of women about their money mindset, I’ve found that we all have a Money Personality based on beliefs that were formed very early in life. 

Dr. Bruce Lipton, author of The Biology of Belief: The Key to REWIRING Your Mind & The Root of MANIFESTATION, states that up until about age 7, we are in a hypnagogic state, and are literally recording everything we see, hear, and feel as if it is truth. 

Why is this important? 

Because those experiences are stored in our bodies, and when they are triggered as an adult, that little child inside of us pops up and runs the show.  I’ve experienced this myself, and I share my personal story and why you want to understand yours in my article this month, What’s Your Money Personality?

Be sure to join me with our special guest host, Colleen Kilpatrick, on Smart Women Talk this month when we discuss the 5 Money Personalities and how to identify your own. In addition, we will share the research-based Millionaire Mindset Secrets that you can immediately implement. You won’t want to miss it!

Earlier this month on Smart Women Talk, tune in as 35-year+ Business Coach, Mike Gruley, shares what to do when your business is running you.  At one point in our business or career, we all hit that ceiling of complexity when work is no longer fun.  We get burned out.  We lose our mojo, and it’s often at the peak of our success.  Mike will show us how to identify if this is the problem and strategies to simplify your work, so it becomes fun and effective again.  I’ve known Mike for decades, and he is a Master of Systems and simplicity. Mike is a returning guest, and I know you will take away ideas that will inspire you.

Katana Abbott, CFP®, is a Retirement Income Coach and Certified Social Security Claiming Specialist, founder of the Midlife Millionaire® Solution, and the host of Smart Women Talk. For over 35 years, Katana has helped baby boomers plan for retirement, including how to create lifetime income, how to optimize their Social Security benefits, launch an encore career, and prepare for long-term care.  She has written several books, created a financial literacy course, and is a popular speaker. Katana has been honored by NAWBO as one of Detroit’s Top 10 Businesswomen, receiving the Breakthrough Award. To download her new retirement guide, Three Smart Strategies to Maximize Your Retirement Income, visit www.katanaabbott.com.