Season 6 Episode 4: Why It Is Important That Women Make Money!

Why is it important to you to make money?  Maybe you want to make the world a better place, or you want to contribute more in your home.  Maybe you’re wanting more of an equal voice in big financial decisions but aren’t sure how to do that.  Whatever impact you want to have, this episode of Coaching and a Cup of Tea with Mummabear is for you.  Master Certified Life Coach Melissa Wiggins has the steps for you to take to reach your goals and create trust with yourself and money, and the research to back it up.  Grab a cuppa and listen in.  

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Mummabear: Hello, lassies and lads. Welcome to another episode of ‎Coaching and a Cup of Tea with Mummabear. And I have a very special episode. I feel very vulnerable giving this episode, but I always think when I'm feeling vulnerable, that is the exact reason why I need to give this podcast.

            So this season, season six, which is so exciting, season six, we have been talking about women and money. We've been talking about money mindset, we've been talking about women and their relationship with money.

            This episode is in particular for the working women, the women that earns money outside of the home or works from home, gets a paycheck essentially. It is for women who seek to know more about why it's important to make money, the purpose behind it. It is also for anyone thinking of going back to work. Okay.

            Maybe your kids just started kindergarten like mines and you are ready to roll. And this episode is a hundred percent for you. It is also for the individual, the lassie, who seeks to make the world a better place. What do I mean by that? So I read this book. And I actually have it.

            And it is by Laura Gassner Otting. And she goes by LGO. She did an incredible Ted talk. She's an incredible author, speaker, keynote speech. And I actually have been coached a little bit by her and mentored by her because she has been a working mom during her boys growing up. And in her book, she discusses why she left the non-profit world.

            And if you've been around this podcast for a while, you know that my husband and I set up a non-profit Cannonball Kids' Cancer, and that I completely burned out. I had no more two AMs in me. And so we now have a whole team that runs it, which is amazing. And I get to have a more backseat.

Find the FULL Transcript here: Season 6 Episode 4: Why It Is Important That Women Make Money!

Transcript

Mummabear:

Hello, lassies and lads. Welcome to another episode of ‎Coaching and a Cup of Tea with Mummabear. And I have a very special episode. I feel very vulnerable giving this episode, but I always think when I'm feeling vulnerable, that is the exact reason why I need to give this podcast.

            So this season, season six, which is so exciting, season six, we have been talking about women and money. We've been talking about money mindset, we've been talking about women and their relationship with money.

            This episode is in particular for the working women, the women that earns money outside of the home or works from home, gets a paycheck essentially. It is for women who seek to know more about why it's important to make money, the purpose behind it. It is also for anyone thinking of going back to work. Okay.

            Maybe your kids just started kindergarten like mines and you are ready to roll. And this episode is a hundred percent for you. It is also for the individual, the lassie, who seeks to make the world a better place. What do I mean by that? So I read this book. And I actually have it.

            And it is by Laura Gassner Otting. And she goes by LGO. She did an incredible Ted talk. She's an incredible author, speaker, keynote speech. And I actually have been coached a little bit by her and mentored by her because she has been a working mom during her boys growing up. And in her book, she discusses why she left the non-profit world.

            And if you've been around this podcast for a while, you know that my husband and I set up a non-profit Cannonball Kids' Cancer, and that I completely burned out. I had no more two AMs in me. And so we now have a whole team that runs it, which is amazing. And I get to have a more backseat.

            I get to do more speaking and a lot less traveling for the foundation and it's perfect. But one of the things that inspired that action was Laura's book. It's called Limitless. It's yellow, which is the color for pediatric cancer.

            And this episode is going to have a little bit about pediatric cancer because it is September, and September is pediatric cancer awareness month. So yeah, I'm going to be doing a lot of speaking about pediatric cancer this month and trying to educate for change.

            But in the book, she talks about how she worked in the non-profit world and she decided she wanted to be the one to write the checks. And I'm not kidding, I don't know what happened to me when I read that. And this is one of the reasons why I love books, I get so inspired by them.

            I've read hundreds and hundreds and hundreds of books since I was 15 on self development and speaking, and communication and leadership. And in this book, when she said she wanted to be the one to write the check, it was like literally a light bulb went off in me.

            And I was like, "I want to be the one that writes the check. I want to write checks for Cannonball Kids' Cancer. So when I started my company, Melissawiggins.life, my self development company for coaching and speaking, I decided that I was going to be the one to write the check.

            And I let Laura know she was a big part of that decision for me. So fast forward to earlier this year when we had our annual gala, for the first time ever in my life, lassies, I got to write a check for $2,500 from money I had made myself. Okay.

            So we're going to be talking about why it's important to make money, that's one of the reasons why it's important to make money. I wanted to write it. I wanted to decide how much it was going to be. I wanted it to be from something that I felt the pinch of. Right? I felt it, it was a lot of money for me based on my earnings, but I was so proud and I felt so accomplished and it made me more driven to want to do more. Now, pediatric cancer is the number one killer by disease of children in the United States. Okay? As a result, it needs research dollars. And so why is it important that women make money?

            It's because women make the world a better place, lassies. We have talked this season about having a relationship with money. Britney Deer, who I interviewed and who also interviewed me on her podcast, she teaches her clients to have a relationship with money, to push into why is it important to build it like a relationship with your kids, like a marriage.

            And the reality is that if you look at it like a relationship, then you start to want to build trust, right? I built trust with my relationship with money by setting a goal to say, I want to donate $2,500 to the annual gala from coaching money that I brought in. And I did that. And so I'm trusting myself, which has then given me more confidence to go out and make more money.

            Women give more money than men, reason number two. I know it's kind of shocking, right? And we've seen a lot of statistics that say... And they look at, it's funny, when you research this topic, I have researched this topic so much for the last couple days, and I've been in the minefields and I love it so much.

            And you know why, I was a lawyer and I spent a lot of my life doing research. I also did a lot of research with Cannonball kids' cancer. So I love researching for you lassies, so that when we're on this podcast, you know Melissa's not just saying this for the sake of it. Coach Mummabear actually looks at studies. I literally read the studies.

            And a lot of the time when they're talking about women and money and women in philanthropy, the sources they quote are the Jeff Bezos's wifes of the world, right? That she gave 4.3 billion. But the reality is that the regular lassie like me, like you, who maybe isn't making billions of dollars. We are making a massive impact.

            And I have statistics to push into that. But if you have not listened to the previous episodes on money, go back to number one and literally go in flow because there is a flow to these money mindset episodes. And I really want for you to think about money as a relationship. Brittany Deer, the money mindset expert, she talks about relationships.

            And I really believe that if you can shift it to think that it's going to really, really help you. So one of the reasons why I wanted to do this episode, not only because of my own experience with reading this book, I also have another book I'm going to refer to in a little minute that I think is really helpful for women and money mindset, is 50% women had their male partners make financial decisions. And we talked in previous episode about this internalized message, which has been confirmed by thousands of people in a study that it's because we think we're not good with money.

            So if we look at money as a relationship, how do I get good at something it's by setting goals and then achieving them that makes me then trust myself and feel like I'm better in the relationship. And that's why I'm here talking about women and women giving money away, because that is us creating evidence.

            And if you remember in an earlier season, I did a whole episode on creating evidence. I'm actually going to do an episode on finding evidence soon too, but creating evidence you're creating it that you're working is making a massive difference on the world. That's huge lasting. Can you feel that? Okay.

            So when I was researching, I was thinking about the things that I hear from women with regards to the pricing for my coaching. So empowered life, my six month mastermind, I run it twice a year. It is a $10,000 investment. That is a lot of money. But when women come to me a lot of the time, there are different things that they see.

            So the number one thing that I hear is like, oh, it's too expensive. And in my opinion, when things are expensive, they are taken more care of, right? Have you ever bought a really cheap pair of sunglasses? And then you compare it to how you might look after a pair of really nice sunglasses. It's the same with paying for coaching that is quality. You're going to show up for every single weekly call. You're going to do the homework. You're going to be patient with your progression, as opposed to you think about the cheap sunglasses where you're like, where did I put them? Oh, I sat on them. Nevermind. I'll get another pair at Target next time.

            I want you to think about that when you're thinking about your relationship with money, when you're thinking about is something too expensive. So when we think about why is it important for women to make money, it's to readjust the idea that things are too expansive.

            Because when we say they're too expansive, it's like us saying we don't deserve it. We do. We have to retrain our brain to believe that. The other one I hear often is I have to talk to my husband or I have to talk to my partner. Listen, there is zero things wrong with wanting to talk to your partner about big decisions. The thing that I believe I need to help educate for change in this situation is that women are giving men the control of massive big decisions. 54% in the study that I raise say that 54% of women give the big financial decisions to the man. What I'm saying is it is important that women make money so that we feel equal in these decisions. We're contributing, not just to charities, but in the home. I mean, 90% of women who make money like 90% of them are investing the money back in the home compared to, I think it was like 45% for men. So we're givers and yet so often women will come back to me and say, my husband thinks it's selfish that I would invest $10,000 into myself.

            I want it to be a financial decision together if that's your jam, but not a "I'm asking for permission." And the permission piece comes, I have found, when the woman is not making money. So why is it important so that you can have autonomy and decisions, so that you can help make decisions so that you can have a say so that you are not the person saying I'm going to ask for permission, because guess what, you're an adult. Talk about things, sure. Don't ask for permission.

            Women are making more money than we ever have. 34 trillion in 2010 was the number. The latest statistic shows that by 2023 81 trillion, like that's getting close to triple. That's huge. So this message and this idea of why it's important for women to make money, it's sinking into people. It's sinking in to say, this is a big deal. I want to give away to charity. I want to be the one that says, actually I want to invest $10,000 in my brain because I know the ripple effect of that is going to be massive. It's going to help my family. It's going to help my relationships. It's going to help me create more options for kids with pediatric cancer or whatever it is. Maybe you want to help homelessness. My kids love helping homeless people.

            Whatever it is that lights you up, creating more financial freedom will allow you to do those things. Now, I like to try to keep these episodes small. I like to keep them small, short. I like them to be short, but I also want for you to go and do some homework. I want you to write down thought detox the idea of why you believe it is important for women to make money and think of at least three things. Why is it important to you that you make money?

            And then if you are one of those people who is thinking about going back to work, dig into what will this allow you to do? Then I want you to think about a time where you reached out to your partner or significant other or husband, or wife, whatever that is for you. And think about a time where you didn't go to have a conversation with them, but you went to ask permission with regards to money. And I want you to write down how you feel about that now, but also how you felt about it at the time. Then I want you to prepare mentally for doing that conversation all over again, after you've listened to all of these money mindset episodes. And I hope that it feels different. I hope that what you say is different because that's the only way that we women are going to be able to make a much bigger impact on this world.

            I hope that you love this episode. I would love it if you would subscribe to my newsletter, I've started doing a newsletter sort of. I give little videos. I give quote cards and I do things that I don't do in social media. It's just for you guys. So there is a link in the show notes with how to subscribe for it. And I hope that you love it and that you love this episode and have an amaz balls day.