Women and Money — What Stands Between You and Wealth
How we can make the world a better place and still enjoy a latte
Often women sabotage their ability to earn with their beliefs.
T. Harv Eker writes when we look at rich people and think, “They’re so lucky,” or “those rich jerks,” we are hurting our earning power. If you dislike rich people, then your subconscious will resist wealth. “How can you become something that you hate?”
Girls especially are raised to be nice — not jerks.
My attitude about money began in church with my parents, where I was told:
“I say unto you, It is easier for a camel to go through the eye of a needle, than for a rich man to enter into the kingdom of God.” ~Matthew 19:24, King James Bible
“Wow! I better not get rich,” little 7-year-old me thought.
Or:
“No one can serve two masters. Either you will hate the one and love the other, or you will be devoted to the one and despise the other. You cannot serve both God and money.” ~Matthew 6:24, Good News Translation
I believed I shouldn’t ‘serve’ or focus on money much. I just wanted enough for myself and my family.
The Problem
The problem with this thinking is that when we don’t pay attention to money — acquiring it, saving it, growing it — we often end up struggling. We waste time and energy figuring out how to pay our bills.
I wanted more help resetting my ideas around money and started searching Amazon for ‘women and money.’ Enter Rachel Rodgers.
The Solution
In We Should All Be Millionaires, Rodgers writes:
I believe every woman should want to be a millionaire.
If you agree with me, this book is for you. If you strongly disagree with me, this book is definitely for you.
Every woman needs to see at least seven zeros in her bank account, at the bottom of her own balance sheet, and in her cumulative net worth. Every woman needs to know what it feels like to wield economic power. That’s how we make change. That’s how we serve our children. That’s how we serve the world.
I was hooked. Rodgers makes a motivating, compelling, action-packed argument for why and how women should acquire wealth. I was originally going to title this article “Why Every Woman Should Read This Book,” but I decided:
1) That didn’t tell you the topic.
2) It might just sound like someone hawking a book.
Treat Yourself to This Feel-Good, Do-Good, Earn-More Book
Rachel Rodgers will make you laugh and change your attitude about money. Here is a sample of her advice on converting a “broke ass thought” into a “million dollar thought.”
Broke Ass Thought: People won’t like me if I have money.
Million Dollar Thought: There are seven billion people living on planet Earth, it is not possible to be liked by all seven billion. Striving to be universally liked is a game I can’t win. My true friends will love me regardless of my income level.
Rodgers lists seventeen ‘Broke Ass Thoughts,” and I bet you will find at least three that YOU have thought before. Here is another one:
Broke Ass Thought: Rich people are assholes.
Million Dollar Thought: Poor and rich people can be assholes, and poor and rich people can be kind. If I’m an asshole, it’s not money’s fault.
Okay, I wasn’t really thinking that rich people were assholes. I was more thinking that many rich people aren’t that nice. They’re used to getting their way and maybe just a bit selfish.
But Rodgers is right. There are selfish, greedy people at all income levels. If I become selfish, which I won’t, — but hypothetically, IF I did, it would be my fault, not because of money.
Do You Still Think Building Wealth is Bad?
I noticed that the top highlight in MacKenzie Scott’s article, Seeding by Ceding was:
“Gathering more and more is not the way.”
Is building wealth just ‘gathering more and more’ and therefore ‘not the way’?
3 Reasons We Need Wealthy Women
1) Wealthy people are the ones who decide what new business ideas to fund through venture capital. This affects which entrepreneurs have a chance to succeed.
“Women are massively under-represented among both venture-backed entrepreneurs and VC investors, with companies founded solely by women receiving less than 3% of all venture capital investments and women accounting for less than 15% of check-writers.” ~Harvard Business Review, February 2023
Suppose all women reject the idea of acquiring wealth. In that case, our investors will remain almost entirely male who are more comfortable investing in people like themselves.
2) If you see a political candidate you’d like to back, do you want an empty bank account or a full one?
3) Women are generous philanthropists.
Consider when billions of dollars shifted from being controlled by married couple Jeff Bezos and MacKenzie Scott to after they were divorced. According to Forbes, Scott donated more than $12 billion in just over two years since the divorce, while Bezos has donated $2.4 billion to philanthropic causes during his lifetime. Scott’s donations target organizations helping people and communities that have been historically marginalized and underfunded.
Summary — It’s Up to You
I urge all women to read Rachel Rodger’s book, We Should All Be Millionaires. I don’t know her personally and can only benefit from a tiny possible Amazon affiliate fee (see disclaimer).
I especially want you to read it (or listen to the audio version) if you are a good and caring person. Mean girls, not so much.
Disclaimer: If you buy something off Amazon very soon after you clicked on my link to her book, I may earn a small affiliate fee. It will not affect what Amazon charges you.
P.S. Patsy Fergusson — thanks for calling me out in a recent article about writing on Medium. It was the nudge I needed to write this, which needed saying.
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