5 | Women's Money Mastery with Kristen Wonch

What if you could go from struggling with money to building financial freedom—without overwhelm?

In this episode of The Shannon Fox Show, I sit down with Kristen Wonch, a global money coach and former trader who went from $100K in debt to financial empowerment. She now helps women master the art of earning efficiently, spending smart, and investing intentionally—while rewiring subconscious money beliefs that hold them back.

If you’ve ever felt stuck when it comes to earning more, saving consistently, or investing with confidence, this episode is for you!

What You’ll Learn in This Episode:

✔️ Why women struggle with money mindset & limiting beliefs

✔️ How to negotiate a higher salary & confidently ask for a raise

✔️ The 4 pillars of financial freedom for long-term success

✔️ Why women undervalue their worth (and how to stop!)

✔️ How to start investing—even if you feel behind

Connect with Kristen Wonch & Grab Her Free Gift!

🎁 FREE GIFT: "What to do with your next $100K" → https://www.kristenwonch.com/your-next-100k

📲 Follow Kristen on Instagram → https://www.instagram.com/kristenwonch.xox/

📲 Follow Kristen on Facebook →https://www.facebook.com/kristenwonch

RESOURCES & LINKS:

🚀 Take the Mastery Zone Discovery Quiz HERE

📲 Follow Shannon on Instagram → @the.shannon.fox

📩 Join the Email List for Career Strategies & Updates HERE

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Kat and Tanner by Twin Musicom is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/

Artist: http://www.twinmusicom.org/

Transcript

Hello, everybody. Welcome. I am so excited because today we have ex-trader, Kristen Watch, who demystifies wealth for women going from $100,000 in debt to global money coach. She is a wizard with numbers and is a handful of women to land a highly coveted role structuring multi-million dollar deals as a commodities trader, attaining in a few months what takes most people nearly a decade. Her money mastery method is the world's first to teach women to master the art of earning efficiently, spending smart, and investing intentionally, while rewiring subconscious money beliefs from the ground up.

She's worked with hundreds of entrepreneurs and has coached women across eight countries to create financial freedom with an approach to finance so simple a fourth grade could do it. Her podcast, The Wealth Equation, reveals untold stories from six, seven, and eight-figure female entrepreneurs and is top 100 ranked in 17 countries.

Wow. Welcome, Kristen. Thank you so much for joining us today. 

Thank you for having me. It's so good to be here. 

So for those in the audience who may not know you yet, can you just tell us a little bit about your story coming from that $100,000 in debt to where you are now? What happened and what brought you there? 

Yeah. So I mean, when I was trading, so that was years ago now, I was one of a handful of women in the industry and I was making great money and I was also spending all of it.

I made a pile of debt from my student loans and I was really not paying off any of it because I was just managing my money like a monkey because no one really taught me that you needed in order to build wealth. It wasn't just about making money and buying all the things and spending it. It was actually about holding on to it and growing and creating money babies effectively.

And so I ended up leaving the industry. I got laid off as a trader years ago and I could have gone back to keep climbing the corporate ladder, but I just knew so much of it wasn't working for me. And so really gone in, I went veered in a different direction and really started understanding the world of personal development and my own mind and my limiting beliefs and understanding all of the things that were driving my decisions that were contributing to all the things that I didn't want in life, my debt and other things.

And everything began to shift for me. I started working with a coach and for a number of months that turned into years and I really started to take ownership for my life in a powerful way. And so that was reflected in my bank account and in the business that I built and the next one that I built.

And now I coach women around money and wealth and I teach them to really do the same and to take ownership for their lives and become powerful with their numbers and powerful with money and really become women that can do anything in the world. 

I lovethat. Well, we have a lot of career women here today that are watching. And so what would be some advice for you that you could give them as far as helping them with maybe negotiating a bigger salary or even, you know, let's start with salary because many of them are probably trying to get a raise in promotion. And so what advice would you have for that for them? 

Yeah, I think the first thing, and this is with all the things that I teach, but really getting clear on like what are your own limiting beliefs around money, around your salary? So if you're thinking about this negotiation, it's like, what do you believe about it? Do you believe your boss doesn't want to give you a negotiation? Do you believe that this next promotion is going to go to the guy next to you that's been there, you know, a little bit longer? Do you believe that if you negotiate, you're going to look greedy? Do you believe that, you know, it's going to be a no when you go to ask for it, right? 

And so you got to really get clear on like, what are the things that you believe to just be true? You're like, it's just true that I'm not ready for this so that my boss is going to be a no. It's just true that the company can't say yes, right? And you've got to really understand what do I believe about this that's actually holding me back? Or what do I not believe that I need to believe in order to get there, right? 

Like I need to believe that I'm great at what I do. And of course my boss would want to say yes to me. I need to believe that it's way more expensive for them to hire somebody new than to just give me a salary bump. I need to believe that I'm competent and capable at learning new things.

So stepping into promotion is, you know, I'm ready for it, right? And so that's like, that's always where we start because those beliefs are driving your decision-making. They're driving to the pattern of you avoiding the conversation for two years. They're driving, like they're leading to the pattern of you not saying the number that you want.

They're leading to the pattern of you being unwilling to talk about money because it feels uncomfortable. And so that's the first place to start. And then I think when it comes to every negotiation, really the core of the whole thing, and I actually said to a friend of mine yesterday, like because I had to negotiate a lot of things when I was trading.

Like my relationship was built on, you know, built on relationships or my job was built on relationships and that the deals that I would put together, you know, were done by humans. Right. And so it was not just making the numbers work, but it was like really understanding the other person.

And, and so every negotiation, you know, I think for us as women, we tend to think that, you know, we're not like men are better at it for some strange reason. It's like, we're like, we're, we're not good at like being forceful or being, you know, getting people to a yes.

And I really truly believe that that is not where a negotiation comes from or the strength of negotiator even exists.

I think the crux of every great negotiation is understanding the other person and what are women great at, but like, we're amazing. We have natural built in empathy. And this is obviously a generalization, but like we are wired to be empathetic, to be understanding, to build relationships, to nurture.

And so when I was trading, I had, I had men, you know, in the industry, my, you know, my, my clients and people that I was building relationships, I would go to, you know, lunches with them and they would tell me things about their lives, about their, you know, their wives and their family and their job and their business that they would never tell my male counterparts because they trusted me more because I was naturally curious and like, I cared. And so like, it felt more comfortable with me to share things that really actually like strengthened our relationship. And, and of course it allowed me to get more deals done because I had a better bond with them, but that wasn't why I was doing it.

It was because I truly cared. And so I think that, that I just set that stage because I think that women really downplay or they don't step into their power enough in this space because they think that it's something that doesn't come naturally to them. And it's something that has to be forceful.

And really it's the opposite. It's like, what are women really good at? It's like, you know, understanding the other person. And so what that looks like is just asking lots of questions, like, you know, asking things like understanding, like what is the other person's deepest desires? Like, what do they really want? Right.

Like every business wants growth. Every, you know, every boss wants their employees to make them look good. Right.They just want to keep their job. Right. They want to, you know, of course, every company cares about the bottom line.

Like, and so I think sometimes we think that we think that it's all about like them paying you the least amount of money, but often like almost never, is that truly the case. Because for a company to grow, they have to have good people doing great work efficiently. Right.

Like that's really what they care about. And so when you can sort of, it goes deeper than that though, around understanding, like what, what else do they want? Like, what's really important to them? 

If you've had a lot of turnover in the company recently, like maybe it's really important that this person stays for a really long time. And so you can really get a clear understanding of that.

Maybe, you know, by asking more questions, you can get an understanding of like, what do they want from, you know, what, what does, you know, asking a question, asking your boss questions like, you know, what does success look like for you? Or what, like, where do you see me going in this role? Or what's really important for you? Like, what are the milestones I need to hit? Where do you see me going? Like what, what potential? 

And these are questions you can ask like months and months before you ever try to negotiate for an increase, right? Because if you can get your boss to articulate exactly what it is, and of course he or she wants to, because he wants you to succeed. He's not trying to keep it a secret. So he or she is not trying to keep it a secret.

Right. And so like just asking, like, you know, if I wanted to make, say you want to make $200 grand, like if I want to, I'm even communicating part of it, right? Like my, my desire is really to earn $200 grand at some point. And I love working, you know, in this company, and I'm really excited to grow with you.

How do you see that unfolding? Is that a possibility for me? What would that look like? What would it, what would I need to demonstrate to you in order for that to be a reality for me? Right. And then, and then really just going to work and doing the things that they've, that they've said that they want to see. Right.

And so I think that's something that like really early on you can start doing is like getting an understanding of like, what's important to them. What are their concerns? What are their issues? 

Even asking your, you know, your boss, like, listen, I know review time is coming up in the next couple of months. You know, what, what do you see as potential for me? Like getting, getting an understanding of that by just asking a lot of questions.

I love that because I feel like it shows that you care as well about your job. So your, your boss is looking at going, wow, they care enough to come and ask me. So I'm going to make sure that I'm putting, helping them get to those goals.

So it's kind of like you're working together and you're getting, get met with your salary increase that you want, but your boss is also seeing an employee that's very excited and passionate about wanting to be there. So it's a win-win for everybody. 

Totally, totally.

Yeah. And like, they're only going to pay you more because you're adding more value to the company. So just get your, like your, you know, the higher up people to articulate what adds value to the company.

Let me demonstrate that. And they're excited to pay you more because you're going to keep doing that. You're going to keep adding more value, right? Right.

So what would you say to these career moms that maybe are saying, well, that sounds great, but like they, as a female are going for the same job promotion as a man. And they'll say, because I'm a female, I don't have, I have less likely opportunity to get it over a man. 

Yeah. Yeah. And that's where we started. That's why I started like the very first thing you want to start with is like, what's going on in your brain.

That's not helping you because like that, that story that like this man next to me is more qualified than me and is more likely to get it. It's so not helpful. Why would you spend any time telling yourself that? Right.

So it goes back to the mindset. 

It all comes down to mindset because that belief, that belief will show up for you in the way that you negotiate. It'll show up for you in your willingness to have the conversation.

It'll show up for you in the, in the drive that you have for your job. And so you won't perform in the way. And what will happen is that you actually will under perform this other guy because you're just believing that you're not going to get it anyway.

And so you're not doing, you're not going after in the same way. Right. And so it's almost like the self-fulfilling prophecy when you believe things that are, you believe that the result you want, isn't possible for you, or that it's going to be really hard or that there's some limitation around it.

You end up creating that through, not because it's true, but through the actions that you take or that you don't take. And then funny thing is that you tell yourself that it was true the whole time, but really it was because, and women, a lot of things happen like this.

Like if you think about, if you think about women in the workplace and like the stats show this, right? Like if women say there's 10 criteria for a job, if women only like, if women meet seven of them out of 10, they'll be like, Oh, I'm not qualified.

And they won't go for it. And studies show that men, if they meet like one of them, they're like, Oh my God, I'm like a no brainer for it. And what happens if you think about it, the women, the woman won't apply and the man does.

Right. So it's like, it's not because he was better. It's because he applied and you didn't. And he's doing that again and again and again for a hundred jobs that of course his results are better. Right. And so it's, it's of course there, there is the reality of bias and discrimination.

Right. And I get that that is real, but telling yourself that story is not helpful and it's not going to get you to where you want to be. And so I w what I would offer.

And I really relate to a lot of this, right? Because like I said, I, I came from a male dominated environment. Like I remember I used to work on a trading floor, open plan, and it could be very stressful. Right.

And I remember going to the bathroom and I used to go to the bathroom because there was a rule, like no tears on the trading floor, right. You're with a bunch of men. It was one of like a handful of women.

And I would go to the bathroom and I would hold my head down to the ground and I would cry in that way so that my mascara wouldn't run because I was so stressed out some days. 

And so like, I really, like, I understand what it's like to, to be in a, you know, a lot of companies are built by this, like very masculine driver engine. And a lot of women think that they don't have space to succeed.

But what I would offer is that like, I didn't spend in those days, of course, there were men that like, when I would go to conferences, I would be in a, you know, a sea of white hair, gray men. And of course there were men that assumed that I was completely incompetent. I thought they would think I was the admin.

They, they didn't think that I was, you know, I had to, I really had to earn their trust or earn, like I had to prove that I was competent and capable. And that was the reality for some men. Like they probably, even to this day, probably some of them just would never choose to respect me.

But I never spent any time thinking about that because there were lots of examples of, of men that didn't believe that, of people that did respect me, of times where I did, I did, I was able to communicate that I was competent and intellectual and capable of my job.

And none of that mattered. And the more time I would spend focusing on the few people that did have, you know, discrimination, you know, like, because there's, there's, this exists for everyone in different ways, right.

It just doesn't, didn't serve me to spend any time thinking about it. And it didn't help me to feel better or get any of the results I want or to be better at my job, to think about the few people that were never going to treat me nice anyway. And so I just, I think that spent, you can spend all of your time focused on being amazing and believing in yourself.

And the more that you do that, the less it matters what everybody else thinks. And I would say that if the people, this becomes really challenging because if it's like your direct boss that really discriminates against women and you feel very dis-empowered, and that's something that is preventing you, like it's a reality that's preventing you from moving forward and earning the money you want. 

I would offer to you that find a different job. There are so many companies that don't treat people like that. And one of the limiting beliefs around that, that might be preventing you from making that transition is how hard it's going to be, or no one else will hire you or that you're never going to find another job at an equivalent level. Right? So again, those comes back to all the limiting beliefs that are in your way.

It's like, like when you think in the space of possibility, like what could be possible? What is possible? Like you just take action toward the thing that you want. And sometimes that's money and negotiation and a raise. And sometimes that's the partnership of your dreams, but like you just don't stop until you get there.

I love that. I love that. 

So your, your freebie for everybody, which will be down below is what to do with your next 100k. So could you tell us a little bit about that? Cause I know there's probably people in the audience are like, well, yes, please let me know. I would like, I would like a hundred thousand. Tell us a little bit about that.

Yeah. So the work that I do, I mean, we talked about the money blocks and the limiting beliefs there, there are four pillars I work across. I, I teach women to build wealth through clearing money blocks, earning efficiently, which is the negotiation that we just talked about and then spending smart.

So understanding like where to put your money, how to hold onto it, how to just not spend it all. Like I mentioned, I used to do and how to invest, how to invest really simply on autopilot for the long-term. And so the, uh, the free gift that I have for you guys is what to do with your next 100k, which is basically takes you through where to put your money so that it's earning efficiently for you.

So when you, you know, whether it's 10k or a thousand dollars, like where should you be putting your money so that it's going to the right places so that you have, you know, a really good savings bill and you have your money actually growing for you. And so it's really the fast track to retirement. 

Oh, that's awesome. I know there's probably a lot of people that maybe even if, even if they just have like an extra hundred dollars every week, I mean, it was going to build up over time, especially if they're younger, but even older, you know, the older people watching that are thinking like, Oh, I'm going to probably retire in the next 10 or 15 years. They could start now, especially with a fast track and be able to have a decent little nest egg for retirement.

Totally.

Well, and the thing is like you manage a hundred dollars the same way you manage a hundred thousand dollars, right? Like you, you need to know what to do with your money. And it's always about where am I going to get the best return for this? And so it's whether, you know, I know that the freebie is labeled what to do with your next 100k, but most people don't start out with a 100k sitting there in cash. And so it's, it's what to do at every point along the way with every dollar.

I love that. Well, thank you so much. And if you want to get that freebie, that is going to be down below, get the button below and press that.

Thank you so much, Kristen, for being with us today. I appreciate it. 

Thank you for having me.