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It's time to start saving. But first, this.
By Pegi Burdick — Written on Sep 22, 2022
Carrie Bradshaw of Sex And The City fame had it right — shoes are a girl’s best friend. But maybe her piggy bank would think otherwise.
There are many reasons that we attach so much emotional value to our shoe purchases. After all, your shoes never judge you, they don’t abandon you if you move up a skirt size, and they never leave the seat up or dishes in the sink.
Reliable as they are, they will always be there when you need them: wellies for rain, sneakers for kickboxing, flats for dating a short guy, and espadrilles for the Hamptons.
Most importantly, wearing the right pair of shoes can make us joyful and bring a little pep back to our steps, even on the dreariest days. And when someone notices, we feel like a million bucks.
But it’s no wonder it’s easier to talk about our shoes than our money — especially when we can feel shame about money.
Avoiding the conversation about whether we are earning enough to retire, or how our bankruptcy can affect our relationships, or whether it’s time to leave our comfort zone and find a better-paying job, can trigger feeling that we wish would stay in the closet far away from our shoes.
Maybe it’s time to start thinking of our money like we do our shoes.
Healthy finances can empower you in many different situations, build your confidence, and give you a sense of control. The trick is to find out how to make your choices fit into a shoebox, regardless of how much you have, or don’t have.
Maybe right now it’s time to be a bit conservative with your money, saving up for the future or paying down some of your debts.
Or maybe it’s time to take a calculated risk that will help you make the jump to your dream career. Perhaps now is the moment to become accountable for your finances, so you can start skipping down the yellow brick road.
That’s the foundation of sexy finances.
Three deep, emotional things women must do before they can become better with money
1. Be kinder to yourself.
Even when situations seem bleak, they can be a window of opportunity to learn more about yourself and gain control.
2. Take the pressure off.
You will find the best answer, but you don’t always get it immediately.
3. Believe you are resilient, smart, and capable of doing anything you set your mind to do.
It helps to make a list of your strengths.
Remember to be the best version of yourself
If you struggle with patting yourself on the back, pretend you are talking about someone else. Write down specifics about what you want your life to look and feel like five years from now.
If that’s too daunting, think about 12 months from now. Reverse-engineer your ideal future to build the path that will help you achieve those goals.
Set small, sustainable goals that you can measure weekly, and keep yourself accountable daily.
Set up a savings account. This is what I did 15 years ago, I multiplied the number of shoes I had, which was 64, times the average price of a shoe, so 64 shoes X $200=$12,800.00. And now, after 15 years, I have $150,000 in cash set aside. How I did this was I set a goal of $200/month to save to start.
As I gained confidence, I added more money but kept the commitment of at least $200, and kept myself accountable.
My savings increased and more importantly, I felt confident and willing to move to the next level of building my business.
If I can do it, so can you!
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Pegi Burdick is a certified financial coach specializing in helping women and men turn around their stress and shame about money and get back control of their lives. To learn more, visit her website.