Money Musings 💭 I want you to earn more
Let's be clear - I want all 65,000 women and allies in the Fiscal Femme community to be wealthy.
When women and allies, specifically anti-racist women and allies are wealthy, we’ll solve a lot of the world’s problems.
A big part of becoming wealthy is how much we earn.
While how we spend and invest our money is really important (no matter how much we earn), the earnings piece can make saving and investing possible (where it wasn’t before) and help us make significant progress towards our goals.
In April we’re going to talk a lot about the steps we can take to earn more. 🥳 We’re hosting an “Earn More Money” workshop (get your ticket here!) and you’ll see lot of great ‘earn more’ content in here.
BUT like with any personal finance topic, it’s also imperative to talk about equity and the significant earning gaps women, and even more so, BIPOC women face.
I'm not okay with pretending that people who are struggling (or aren’t getting their fair share) are at fault for their situations. It's not okay to blame the oppressed for wealth gaps.
Smart money moves and financial literacy can help almost all of us to manage our finances, but let’s be real about how much they can help.
I’d love to hear about your successes and how the Fiscal Femme community has supported you in your wealth building journey. Hit reply and let me know!
MONEY MOVE OF THE WEEK
FIGURE OUT YOUR MARKET RATE. The concept of earning what you’re “worth” is fraught with issues. As a human, you’re priceless and your work does not define your worth. But, it’s still important to determine what the market-rate is for the work that you do so that you can be paid fairly (or what you deserve).
Your market rate is just the amount of money companies are willing to pay for our expertise and experience at this current time, controlling for cost of living. To find your market rate, do some research:
Check websites like the Salary Project, Monster.com, PayScale, Glassdoor, and Salary.com
Talk to your colleagues about what they earn (both your coworkers and others in your industry at other companies)
If your work culture doesn’t support pay transparency (that’s a problem!), talk to people who have left the company
Have calls with recruiters who are very familiar with the industry
Browse job postings that include salary ranges
YOU GOTTA SEE THIS
IT'S FINANCIAL LITERACY MONTH - CELEBRATE & GET EDUCATED. April is Financial Literacy Month! Although we need to acknowledge that the United States financial system was built on suppression, oppression, and the concentration of power and wealth, our own financial literacy is still important.
Money can be stressful, but making an effort to better understand both the systems behind our finances and what we can do to better set ourselves up for success - despite all that we have working against us - is a truly powerful thing!
Let’s celebrate Financial Literacy month by talking about money. Join Yanely and I for some fun money debate. Sign up for our free Money Salon tomorrow (April 8th) at 7 pm EST.
If you can't make it (or in addition), I encourage you to take the financial action you’ve been avoiding. Understand your credit score. Find out what's happening with your 401(k). Figure out which debt you should pay off first. Set up a plan to save for retirement.
What’s been stressing you out the most? Take one step towards mitigating that stress.