In a world where the discourse around wealth and financial independence is gaining momentum, women leaders are finding themselves at the forefront of pioneering change.
However, one crucial aspect often remains a challenge for many—talking about financial wellness. I led a discussion on this topic the other day and several women admitted at the outset that they were scared about this topic. By the end, they were grateful that we journeyed down this road together. Here’s how to get comfortable with this conversation.
Understand Your Financial Picture
The first step toward feeling confident talking about financial wellness is to have a clear understanding of your own financial situation. This involves more than just knowing what’s in your bank account. It means having a comprehensive understanding of your assets, debts, expenses, and investments. Educate yourself on financial basics, budgeting, investing, and retirement planning. The more you know, the more comfortable you’ll feel discussing these topics. And, if you’re unsure how to even start looking at this, ask a trusted friend for a financial advisor referral.
Cultivate a Positive Money Mindset
For many women, discussing money can evoke feelings of anxiety or inadequacy. It’s essential to shift this mindset towards viewing money as a tool for achieving your goals and securing your future. Remind yourself that talking about financial wellness is a step towards empowerment and independence. Surround yourself with positive influences—people who talk about money in an empowering way, and immerse yourself in literature and media that foster a healthy relationship with finances.
Start Small and Practice
Begin by having financial discussions in low-pressure situations. Talk to trusted confidants about basic financial concepts or share your financial goals with someone you trust. Consider joining a financial literacy group or a women’s leadership network where you can discuss financial matters more openly. The more you practice, the more comfortable you’ll become.
Use Empowering Language
How you talk about money matters. Use language that reflects your control and agency in your financial life. Instead of saying, “I can’t afford this,” try framing it as, “I’m choosing to prioritize my spending elsewhere.” This small shift in language can make a big difference in how you perceive your financial agency and how confidently you discuss money matters.
Seek Professional Guidance
I highly encourage you to seek help from financial advisors or coaches. These professionals can provide personalized advice and help demystify complex financial topics. They can also be great partners in practicing your financial discussions, offering a safe space to ask questions and explore different aspects of financial wellness.
Lead by Example
As a woman leader, you have the unique opportunity to set an example for others. By openly discussing financial wellness, you’re not only improving your comfort level but also encouraging other women to do the same. Share your financial learning journeys, successes, and even challenges. Your openness can inspire others to prioritize their financial wellness and start conversations of their own.
Work with me
I work with women every day who courageously talk about things they are terrified of as they know that knowledge is power. If you can use some help doing so, please click here to pick a time to talk about how I can help you.