Do you have a money mindset?
Back by popular demand, Chintimini Keith (aka: Moxie Savage), rejoined the WWPR events virtual stage to share her advice on how to have a money mindset, build wealth, and how to lift other women up simply through talking about money.
What is a money mindset?
It’s more than just how you think about money – you also need to be intentional with money. Talk about money with your peers, friends, and a financial advisor. Take action with your money by investing it and building wealth. Changing your way of thinking and how you approach money and negotiations creates a money mindset.
Below are some of our favorite tips from the Finding Your Money Mindset session.
Break out of your old mindset.
Chintimini shared a great deal of tips and advice, but one that really struck us was how many money scripts and myths we’ve heard growing up that put us in the wrong mindset. Common phrases like “money doesn’t buy happiness” or “the stock market is confusing and scary” keep you from looking beyond what you know about money.
Dream big.
If you believe, you will achieve big mindset goals. Chintimini shared her belief in the power of ridiculous dreams. While she came from a disadvantaged situation early in life, experiencing poverty at one point, Chintimini decided her life would be different. She looked into investing, didn’t follow the rules, made a lot of mistakes along the way, and by the time she reached her thirties, she became very intentional about her investment strategies.
Be goals oriented.
Chintimini suggests writing down your goals and revisiting them a couple times a year. That way you can check to see if you are on track and if your goals are changing. Of course, you should always follow your dreams but also make sure you have a plan that includes an emergency fund and allows you to still invest along the way.
Invest in yourself.
Make sure you get in front of the right people throughout the year before your annual review. Show your impact and value, promote yourself, and even brag about the work you’ve done and the accomplishments you’ve had! No one knows your value better than you so make sure you are showing off and having conversations with your leadership teams.
Talk about money.
Talking about your salary and money should no longer be taboo. The best way for women to continue rising is to talk to each other about salaries, negotiations and general money management tips. Did something work well for you in a recent promotion discussion? Share that with your colleagues and peers! There is more power than you think in talking about finances. The same way we network with each other for business, we should be networking to talk and learn about money.
It’s never too late or too early to start thinking about money.
There is never a wrong time to start getting into a money mindset. Whether you’ve just started investing through a 401k or have never thought about the stock market, taking the time to educate yourself and break out of old mindsets can help propel you forward.
Every dollar has a job.
Did you know not investing is more risky than investing money? With inflation, your money is losing value. Chintimini says “take risks and see what works for you and then adjust as you start to learn.” It is okay to risk being wrong or making a mistake to get to the next level.
A financial advisor can help.
Know that you don’t have to do it alone! Chintimini shared that having an advisor has helped her significantly in making better choices with her money. You don’t have to be an expert in finance or the stock market to build your wealth.
Did you miss the event and have another money question you want Chintimini to answer? You can still register for the event to receive a copy of the video recording and get the full money scoop directly from Chintimini. And as always, email WWPR’s Professional Development Chairs to share your questions or ideas for future money-related sessions: professionaldevelopment@wwpr.org.
