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Conversations About Money That Will Rock Your World

Conversations About Money That Will Rock Your World
"""I just got back from Kendall SummerHawk's Feminine Money Mastery conference, where women from all over the world (and a couple of amazing guys, too) met to enhance their relationship with money. Finding out where in our life we need to have ""courageous money discussions"" was one of the conference's most intriguing topics for me. We frequently avoid having these conversations because they bring up a variety of disempowering money assumptions. We talked about how to establish a system for these talks so that starting them won't be as intimidating.

A structure that reduces some of the stress can be used in effective conversations. Engage in the money conversations that transform your life by following these steps rather than avoiding them.

1. Before the talk, take a moment to breathe deeply and decide how you want the discussion to proceed. Before the other person arrives, decide the outcome you want and be very certain of it in your own mind.

2. Set the agenda with the other side while being emotion-free. Inform them of the discussion's purpose, the desired result, and the topics you intend to discuss.

3. Halt, pay attention. Assure the other person that they have a chance to speak and that you are listening to them. Do anything you can to demonstrate that you comprehend what they are saying, including repeating back and summarizing their points.

4. If at all possible, provide many options for handling the matter in different ways.

Find consensus, even if it means consulting a second person, and outline the next steps, including who will do what by when. Make sure to end the conversation on a high note.

I used this approach right away after I got home from the conference and had two such chats. Since then, I've been heaving a sigh of relief! While it is necessary to engage in these discussions in all situations, if you want to change careers or expand your business, this is a skill that will be very beneficial and significantly advance you.

Avoiding difficult financial conversations can unintentionally hinder your progress. As an illustration, a mother recently told me about her daughter's fulfilling job. She was given a promotion four months ago since her boss, coworkers, and customers value her. However, she hasn't earned a pay raise to go along with the promotion. She made the decision to hunt for another employment rather than having the necessary dialogue regarding the pay raise. Although this looks absurd on the surface, she is so unwilling to have the essential pay discussion that she has concocted a story in her brain about what it all means and is acting in an erroneous manner as a result. In her opinion, it might be simpler to obtain a new position than to engage in a salary negotiation in which she would be promoting her value to the company.

Similar to this situation, I frequently notice two main issues when I work with clients:

1. Giving voice to their value and their belief in it. As examples, they could state their rates, decline a discounted rate, or discuss their pay.

2. Being open about a subject that makes people feel exposed. For instance, renegotiating a loan they are having difficulties paying off or talking business plans over with your spouse.

Of course, it will feel strange at first to stand up for your money. But after having a few of these chats under your belt, you'll start anticipating the next one! It involves gradually developing a muscle that will boost your overall power. Don't be scared to dive in headfirst; you'll be happy you did, I guarantee it."""
 

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"Conversations About Money That Will Rock Your World" was written by Mary under the Business category. It has been read 37 times and generated 0 comments. The article was created on and updated on 16 November 2022.
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