Many women have negative money stories. We believe we don’t deserve it, it’s not our job to earn it, and we shouldn’t ask for it. In fact, 80% of women in heterosexual marriages today defer the financial choices to their husbands.
Often, these stories are developed in childhood through the homes we lived in, how our families dealt with money, and our cultures.
Regardless of your money story, you have the ability to change it and to give your money meaning.
If you were to view your money through the lens of what it can do for you, everything would change. You would start to understand how it can give you the life of your dreams, provide you with the legacy you desire, and help you reach your greatest goals.
Marielle Schurig is a wealth advisor at UBS Financial Services in New York City. In her role, she works with entrepreneurs who are going through a transition by helping them adopt a new perspective on money. She helps them develop an empowering relationship with money and to start to see all it can do for them and the people they care about.
Here are some of her amazing insights into changing your narrative around wealth management, especially as a woman:
The Face of Wealth is Changing
Marielle has seen firsthand how the face of wealth is changing. More and more women are breaking the glass ceiling, starting businesses, or entering the workforce. They are also coming into money like never before through generational wealth.
However, many women don’t know how to manage their wealth. Marielle has worked with various women who got divorced or lost their spouses prematurely and were left with no idea how to manage their finances. This inspired her to start working with them to view their finances as an important and meaningful part of their lives.
Change Your Money Story
Money stories are the things we tell ourselves about money: what it means, how we should manage it, and what our relationship with it should look like. The money stories we tell ourselves shape our lives.
To start changing your money story, get to the root of what it is and how it’s impacting your life. Believe that you are capable of breaking through those barriers just like you’ve proved yourself capable of starting a business or having a successful career. Start working on your confidence level around financial management by understanding yourself and that your money story isn’t your fault.
From there, you can begin to change that narrative and shift that perspective around wealth ownership.
Start Managing Your Wealth Today
You don’t need to be an expert. You just need to take some time to learn.
Set some time aside like you would with your business or with anything worth the effort. You can outsource some financial work to a trusted advisor that understands you and your needs. However, you need a basic framework and basic information for yourself.
Many women are scared to take the first step because they feel like they need to know it all. You don’t need to know it all; you’ll learn as you go. So start small.
If you start managing your wealth when you first start making money, you’ll be dealing with a smaller number. Therefore, you can make mistakes, learn, and grow without much risk. However, the older you get and the more money you accumulate, the more nervous you’re going to be to make mistakes with your money.
To learn more about how to utilize your wealth well, check out Episode 020: Changing the Narrative Around Wealth Management with Marielle Schurig.
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