As I stated in Part 1 of Women and Money, the theme of the Total Woman Business Conference was finances.
Another impressive presenter that day was Helen Kim, Money Relationship Mentor. She discussed our sub-conscious relationship with money – stressing that we need clarity about what money means to us. She referenced four character types relative to their action or re-action to money. They are:
- Under-earner – characterized by excessive volunteering, under-billing of time, bartering as a way to avoid money transactions, content to perform “cave jobs” – projects that keep them isolated. They also avoid raising rates and may resent people who have money. They have a general belief that the harder you work the more money you’ll make.
- Debiting – a vicious cycle exacerbated by a sense of entitlement – “I deserve…” Helen states that debting is the manifestation of unmet needs.
- Overspending/Over-shopping – we are in business to make money; simple arithmetic shows that we should not spend more than we make. This type of money relationship can be triggered by:
- Loneliness - shopping fills the void
- Avoidance - shop to avoid an issue/problem
- Control – you are in charge when you are spending
- Fear – you make purchases for the sole purpose of giving it away – to abate the fear of abandonment
Helen suggest that you stop and ask yourself “how do feel?”, “what am I shopping for?”, “do I need it?” She also suggested a resource by April Benson “To Buy or not to Buy”
- Under-spending – characterized by feeling you are undeserving of good fortune or a fear that you can’t handle money or a concern that you’ll “show-up” your parents by surpassing their income level
Do you see yourself in any of these character types? Perhaps, like me, you straddle two of these types. Through education, sharing and a more conscious awareness of our actions and reactions to money – we will have a balanced, comfortable relationship with our finances.
If you would like to have a better money relationship – check out some free giveaways from Helen Kim.
