Updated: Jul 18, 2019
Women are standing up in 2018 and reclaiming their power. The #metoo movement has spread across the globe and does not discriminate based on race, class, religion or ethnicity. One common thing that keeps some women stuck in abusive situations at home or at work is financial.
Whether you’re single, married, divorced or cohabitating in order to keep your power and freedom of choice you have to make sure you’re focusing on three things: equity, emergency fund and an exit strategy.
1. Equity – at work and at home.
On average women still earn 80 cents for every dollar men earn, with Hispanic women earning 54 cents and black women earning 63 cents for every dollar. While there is advocacy work that needs to be done on a macro level, you can start being your own advocate by improving your negotiating skills, getting rid of the imposter syndrome - know that you are worthy of that promotion or raise! Also, don’t settle for careers that historically were “women’s work” because they tend to pay less (unless you love it).
At home we must also advocate for equity. Women tend to take on most of the domestic and child-rearing responsibilities, which either causes them to leave their careers totally or slow down which affects their income earning ability. You must discuss with your partner your desires and strategize on how your family will balance these responsibilities and the finances. Contact me for the “Family Planning” tool.
2. Emergency Fund
We cannot ignore the risk we put ourselves in by not having money available for emergencies. Calculate how much money you would need to cover your basic expenses: food, housing, transportation, etc. for at least 3 - 6 months in case you are without income. This will give you security and options.
3. Exit Strategy
You must have an exit strategy for your job, business or home. If you are working at a job or in a relationship and are victimized or feel trapped because you can’t afford to leave, you are losing your power. My motto is, “stay ready!” You must invest in your professional development, your business and yourself! That means taking courses, hire a coach, read, exercise and eat right. Here is a list of books I recommend for your professional and financial development: https://www.amazon.com/shop/vanessalindley
Don’t let money keep you in prison. If things aren’t going right, you want to have the option and ability to leave for your safety and peace of mind.
Lastly, don’t just wear black for solidarity, be in the black! Which means, you must ditch the debt! If you owe more than you own, you are in the red, not the black and that can keep you stuck. Get an accountability partner and get started on being debt free in 2018!
A great resource to help you get started on your journey is my book, “Life Balance for the Women on the Rise.”
Contact me: Vanessa@lindleyconsultinggroup.com
IG, FB, Twitter & LinkedIn: @VanessaLindley