5 ways to take control of your money🎙

It’s hard to be a beginner again – especially when you’re used to being an expert. The good news is that money is much more straightforward than you might think. Like the best games, financial skills are easy to learn and almost impossible to master, and no one (not even world-famous investors) always gets it right. You can comfortably leave your need for perfection at the door. 

Regardless of your starting point, taking *back* control of your money is important – it’s one of the most powerful tools you have to build your life (and your career!) on your terms. This week, we chat about all things finance over on episode 6 of PowrUp, and this is your cheat sheet for putting our words into action: 

Understand your money mindset 

Have you bowed out of money so far? So have many women. Money myths occupy rent-free space in our heads (we’ve covered a few of them here). The first step to taking control is to take note of our internal money dialogues and recognise how they shaped our attitude towards it. 

What’s your first money memory? How did your childhood shape your financial confidence today? Pay attention whenever anything money-related crosses your mind – from simmering stress about upcoming bills or rising interest rates to sticker shock when grocery shopping. We think about money way more than we might expect, and our life experiences can contribute to feeling out of control. Find a trusted friend and share your money narrative. They’ll have their own story – it may be time to co-create a new one. 

Embrace the basics

There is now a world of books, podcasts and courses designed by people like you, for people like you (and many of them have a template letter to ask for a professional development budget). Check out Ellevest’s newsletter, The Curve, Frances Cook, She’s on the Money, Girls that Invest, or Hatch’s free Getting Started Course. You’ll be surprised how quickly you find patterns in the information – just a handful of simple concepts underpin good money habits. 

If your workplace offers EAP from a provider like Clearhead, you might also be entitled to free financial advice. 

Demand your worth

Do you know the market value of your position? There are several ways to search your local job market for your salary benchmark with the likes of Hays (Australia and NZ), Robert Walters (Global) and Glassdoor (Global),

You know the saying, if you don’t ask, you don’t get. And women aren’t asking! It’s time to negotiate your salary: head to PowrUp’s ep 1 on salary negotiation. We’ve got you covered. 🤗 

Build financial resilience

Yes, we love to focus on the upside, and we can because we protect the downside. And that means getting a financial safety net in place. Do you have an emergency fund? Setting money aside can make a big difference if things go wrong. Start small and build! Open a savings account and start contributing a fixed amount every payday. As the balance increases, notice your stress levels decrease. 💪

Insurance is probably everyone’s least favourite bill, but it is an important part of your financial safety net. You have people and things that need protection, so protect them! Google ‘do I need insurance’ as a start.

Put your money to work

Is your money working as hard as you are? Thankfully with investing, you can learn by doing. Women have all the right attributes to be great investors. No time for a new hobby? No problem, keep it simple!

Many of us ignore our retirement funds. While that can be a good thing, there are some hygiene factors you really should be across. It’s worth comparing providers, checking your contributions, and ensuring you’re in the right fund. Small actions now can have a massive impact on the amount you have later. A *massive* impact. 

All sorted there? Consider the next step: investing in a few broad-based funds on your local investment platform. You don’t have to be an expert; start small, and you’ll feel fantastic about yourself (and maybe even get addicted?). 

Want more money talk?

On episode 6 of PowrUp, we chat about all things money, finances and taking control. Listen now:

Networking: How to get from fear to fab

If hearing the word ‘networking’ fills you with fear, this week’s deep dive probably isn’t welcome news. Put that hesitation to one side, because the art of creating a web of professional contacts to provide support, feedback, insight, and resources is the key to getting ahead. Remember, it’s not what you know, it’s who you know.

Yes, we know networking is a dreaded chore for many. Do it anyway. 

No longer an old boys club

Leaders network to identify new career opportunities. Think the next step in your career is coming from an online job site? Think again. Around 50% of new roles are discovered in the hidden job market. Networks are a low-risk, fast and cheap way to tap new talent. 

Want to develop and keep a finger on the pulse of your industry? With a bit of effort, you can gain new perspectives that can advance your career. When you want to learn something new, you’ve probably asked your trusted contacts. Have you noticed they then open up their networks? Your web can get exponentially bigger and fast. 

Have you been blindsided by a decision you felt you should have been across? Leaders need to see strategic change coming. Connecting with stakeholders is not a distraction from ‘real work’ – it’s the key to having a voice and influencing decisions. Building allies, navigating the political landscape and acting as a connector are the priorities of a clever leader. 

Try, fail, learn, try again

Don’t be afraid to put yourself out there; it’s a muscle that can be developed over time. “I’d love to meet you” will be met with crickets. 🦗Do research on the person you’re trying to meet, and give them something interesting that makes them want to reply. If you don’t ask, you don’t get – just be specific.

Know your value

Your elevator pitch should include the essentials; who you are, what you do, what you want to achieve, and what you have to offer.

Use LinkedIn (authentically)

We (and others) understand that LinkedIn is full of flexing muscles and egos. But for now, it’s here to stay; we have to be where emerging leaders can see (see what we did there?). Use your voice and give opinions, share relevant news, and share a recent experience – personal or professional. You do you.

In-person events are in again

You’re the average of the five people you spend the most time with and most of us aren’t spending time with people who can push us to develop. Ah, a room full of strangers – it’s time to go out there and meet them.

Don’t forget the follow-up

Say thank you for someone’s time. 🫶 A sincere follow-up can be an opportunity to forge a lifelong connection. When you can, return to them and offer value.

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