In this chapter you've learned 📎
- Money does influence our happiness, but potentially only to a certain point.
- People who spend more on purchases that fit their personality are the happiest.
- Gender stereotypes and financial bias can have a negative influence on your money mindset, that is why we need to fight them at all times.
- The gender pay gap, combined with other characteristics of women's unique lives such as longer life expectancy and part-time work, leaves women financially disadvantaged now and can have a negative impact on your future. The good news is, that with sound pay negotiations, financial planning and investing you can significantly mitigate these risks.
- You can tackle bad money habits such as buying on impulse, failing to budget etc. with a simple 3-step action plan.
Your to-do list 📝
✔︎ Look back at your last 5 purchases - is anything in there that made you feel indifferent or unhappy?
✔︎ Check yourself: are any old-fashioned gender stereotypes or messages influencing how you feel about money?
✔︎ Check if and how you might be impacted by the gender pay gap with a pay gap calculator.
✔︎ Take a look at your money habits: is there anything you want to change?
Interesting books 📚
If you want to do further reading on money mindset, here's a book list for you:
Happy Money: The Science of Happier Spending - Elizabeth Dunn & Norton Michael
How money can buy happiness—if you follow five core principles of smart spending.
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Emotional Currency: A Woman's Guide to Building a Healthy Relationship with Money - Kate Levinson
Offers fresh approaches to navigating the astonishing range of beliefs about the role of money in our lives, coming to terms with our feelings about being “rich” or “poor,” and exploring our inner money life so that we can put our feelings to work for us in a positive way.
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Happy Money: The Japanese Art of Making Peace with Your Money - Ken Honda
Bestselling author Ken Honda identifies 7 distinct money types and teaches you how to achieve peace of mind when it comes to money.
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Think and Grow Rich - Napoleon Hill
One of the bestselling motivational books of all-time. Explains the philosophy that helped the wealthiest and most accomplished members of society succeed.
What comes next?
Way to go! You're almost through with this chapter. Prove your mastery with a speedy quiz and get practical tips and fun example questions for money conversations with your friends, partner and kids next.