In this podcast episode, the first in the new year 2023, I discuss skipping the usual resolutions and instead going for consistency in 2023! If you’re like me, you may pick a word of the year at the beginning of each year to give your year more focus and direction. Mine this year is CONSISTENCY, and that is what I discuss in this episode, and share a few tips to be more consistent in our work and lives!
Here are links to the research mentioned in this podcast episode:
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The New Year is prime time to set goals, including our financial goals. While many tend to think about general life and career goals, few really devise an approach to tackle their finances in the new year. Hence why many find themselves repeating the same negative cycles of financial loss year after year…
As working women and moms, setting appropriate and achievable financial goals is all the more important as many of us tend to manage the finances in our homes. This is without mentioning the many single working women and moms who are sole earners in their households. Furthermore, as moms, we’re often partly or entirely responsible for the financial education of our children, hence compelling us to have a solid financial vision for the future.
I know in my own experience, it has taken me quite some time to get in the habit of setting strong financial goals every year. Despite my business background and growing up in a single-parent household where money had to be carefully managed, setting financial goals didn’t always come to mind. It is with time, experience, and through conversations with fellow women that I actually started paying more attention to the importance of financial objectives in our lives and careers.
If you’re thinking of setting financial goals in the New Year, here are three I would like to suggest to your attention:
Develop a more positive money mindset
As women often socialized to aspire to less in terms of remuneration (hello wage gap!) and money in general, we may be inclined to think of finances and money in a negative way. As a matter of fact, many may develop a scarcity mindset when it comes to money, not feeling like we deserve to be paid fairly in the workplace, or that we should not aspire to reaching higher levels in terms of position and compensation. When we add to it suffering from imposter syndrome as working women, having a positive money mindset can become a daunting prospect. Many women also suffer from being raised in families and environments where money was not discussed, let alone with the women in the family.
All these factors, and so many others, speak to the importance of mindset when it comes to setting financial goals. Developing a positive money mindset rooted in abundance instead of scarcity is the first step to achieving any desired level of financial success.
Yet, how do we go from a negative, or lukewarm money mindset at best, to a positive one? It’s a change that requires re-training our minds to think differently. One of my favorite tools to re-train my money mindset is through financial education, mostly financial books geared at women, such as “Women and Money” by Suze Orman or “Get good with money” by Tiffany Aliche.
Understand and own your money
The second financial goal that I’d like to propose is that of understanding and owning your own money. Too often, we have no, or very little of an idea, of the ins and outs of our own money. As busy working women and mothers, we can be so caught up in our daily commitments and duties that our own money slips through the cracks. This can translate into financial debt, loss, overuse of credit and overall disastrous consequences for ourselves and our families.
This is where setting a goal to better understand, own and manage our money can make a world of difference. This means committing to a consistent practice of taking inventory of our money, being aware of and accountable for our expenses, and setting up a reasonable budget that fits our personality and lifestyle. Personal finance software such as Quicken, Mint,YNAB, or TurboTax for taxes, can help in the process.
Plan to create generational wealth
Last but not least, the third financial goal I’d like to propose may sound like a lofty one, but is one most of us should think about when it comes to our finances. As working women and moms raising the next generation, impacting our communities and creating a legacy, our finances can serve as a powerful tool to create change and make a lasting difference. This is why it is so important to have a long-term financial view that includes planning to create generational wealth.
Generational wealth is wealth that can be passed on to future generations. Contrary to popular opinion, it is not something only reserved to the rich families and communities of this world. It is actually possible to build, starting with each and everyone of us. It can be done through investing in children’s education, in the stock market as well as in real estate. It also can be achieved by creating a business, and taking advantage of the benefits of life insurance. However, all this requires setting solid financial goals and having a clear plan.
Overall, setting financial goals is an important part of starting a new phase or season of life such as the New Year. Among these, developing a strong money mindset, understanding and owning your money and planning to create generational wealth are three of the most important goals we can set as working women and moms.
What financial goals are you setting this year?
With Gratitude,
The Corporate Sis.
PS: Please note some of the links are affiliate links.
After becoming a mother, I started getting in the habit of setting goals for my growing family. This became all the more important as our family kept growing, and the demands of work and life in general started taking over. Achieving some semblance of balance became harder as there was an increasing amount of tasks to attend to. As a working mom, juggling the home front, work, relationships, and everything in between would at times seem like an insurmountable challenge. Without some clear goals and objectives in mind, it was next to impossible to keep up. Hence the importance of setting family goals, especially as we start a new year…
I remember reading some business and strategy books (this is one of my favorites, as well as this one, and this one too), and thinking to myself that running a family and a household ought to incorporate similar principles. There has to be a foundation and systems in place, albeit unique and less business-like, to keep it functioning as smoothly as possible. Without these, the family unit is bound to crumble under the pressure of conflicting schedules, differing personalities, career demands and multiple other sources of pressure.
Setting family goals is not much different than setting any other types of goals, from personal to work and even financial goals. However, it does involve a greater level of complexity due to the sheer number of individuals, personalities and opinions involved. For family goals to truly be effective, they have to involve everyone and take into account each and every unit of the family. This can make for a monumental task at hand, and possibly a breeding ground of disagreements.
So how do we get to set effective family goals that involve everyone and can be achieved individually and as a family unit? Here are three tips that may help:
Start with a process of self-introspection
Yes, family goals involve the entire family. However, since the family is made up of separate individuals, it also requires each person to go through a process of self-analysis and introspection to determine what their vision of the family is.
When we started setting family goals in my own family, my husband and I quickly realized that coming from different cultural and personal backgrounds had us define the concept of family in very different ways. It was important for us to first think about what our own view of family was, in order to bring it to the table and discuss. It was also important to involve the children in this process, by inviting them to journal about their own family goals (this is an excellent journal for kids by the way).
Meet and discuss
Family goals are for the entire family, and do require the entire family’s contribution, including the children, as long as they are old enough to participate. Coming together with everyone’s view of what the family should be like, how it should operate, what the rules should be, and so many other factors, is a game-changer. This is where ground rules can be set, an effective foundation can be built, and where respect and consideration for all can be demonstrated.
This is also where fundamental disagreements can arise, which is also beneficial to identify where there is a need to set a different foundation. Some of the topics discussed can range from respect, health, responsibilities, religion, finances, communication, to time management, education and purpose.
Decide on the best goals for YOUR family
Setting family goals is not about reaching an ideal and elusive set of grand objectives for the family. Rather, it’s really about coming together and sharing what works best for YOUR family. No two families are alike. As much as we would like to replicate the organizational skills of this family, or the glamour of that family, the reality is, each family is beautifully unique. This is why it’s so important to focus on the goals that are appropriate, realistic and achievable for your family. It may mean starting with just waking up on time for school, or setting up a basic family calendar (check out this well-reviewed family calendar, as well as this More Time Moms Family Organizer too), or having a set budget,( you can use this Simplified Monthly Budget Planner, or this Monthly Finance Organizer) as opposed to launching into extra volunteering activities or investing in the stock market. Whatever it is, it has to be aligned with the type of family YOU have, its vision as well as its heart.
All in all, setting family goals is a crucial part of the goal-setting process as the new year begins. It involves partaking in a process of self-introspection, coming together to discuss, and finally deciding on the best goals for one’s family.
Do you set family goals at the start of the New Year?
With gratitude,
The Corporate Sis.
PS: Please note this post contains affiliate links.
If you’re like me, you know how difficult it can be to be consistent, whether at work or in life. For many, if not most of us, it can be so easy to set new goals and objectives in our minds, whether it’s being more productive at work or setting a regular gym routine.
As a working woman and mom juggling many balls in the air, I know I’ve certainly struggled with being and staying consistent with my goals and habits. As women set goals differently than men, favoring more private, less competitive goals encompassing both their personal and professional lives, one can argue that women tend to also approach being consistent in a different manner than their male counterparts. What if, as often busy and overburdened working women and moms, we could devise our own approach to being more consistent in our work and lives in general? This is certainly a question I’ve asked myself year after year, as I kept experiencing the same challenges with establishing long-term consistency in my work and life…
What I have discovered in my own journey with consistency, is that as working women and moms, we’re already dealing with inconsistency on a day-to-day basis. After all, the very nature of our lives as women and mothers can be rather unpredictable. From facing the unpredictable threat of gender stereotypes, to withstanding the various seasons of our lives from marriage to motherhood to menopause just to cite a few, as women we deal with constantly having to adapt, stretch, reach, and overcome the numerous obstacles on our way. It then becomes extremely challenging to establish constant consistency in our work and lives. How do we consistently hit the gym at the same time every day when the needs of our kids may change from day to day, especially given that moms usually carry the brunt of caregiving at home? How can we consistently maintain the same rhythm at work with minimal, sometimes even non-existent, childcare and household support at home and in society?
Despite the numerous books and articles written on the topic of consistency, especially as related to goal-setting, not enough is being said about what it would mean for women. After all, most of the advice out there is geared at men, who most often benefit from societal support as well as that of the women who make up the backbone of families and communities. What this means for us as women and mothers, is that we must learn to redefine what consistency means to us, and how to best apply it in the context of our lives and work.
From mine and that of many other women and mothers, here are some tips that may begin this process:
Look within first:
Research has shown women tend to favor more private, as opposed to public, goals and intentions. The same can be said of choosing to become more consistent in our goals and habits. Being self-aware in the process of deciding to be more consistent is the first step. This entails having a clear vision of who we are, what lights us up, what truly matters to us first. Without this vision, without this sense of who we are in whatever season of our lives we’re in, it can be daunting to set the priorities that would require us to be more consistent in the first place.
Who are you in this season of your life? What matters to you? What no longer does?
Start with what fulfills you
Studies have shown women are more attracted to life goals that promote self-fulfillment, than plain work goals. This is why we often tend to tie our professional goals with our life goals. Besides, given the many facets of our lives and the many hats we wear, compartmentalizing the various areas of our lives is next to impossible. The reality is, at any point in time, we are all of our identities at once, the woman, the mother, the sister, the friend, etc, even to the point of commingling our different identities.
As self-fulfillment is then so much more important to us as women, starting with what fills us up makes sense. Whenever I try to be more consistent in one area or another in my life, beginning with what matters to me is crucial. It’s this fulfillment that can keep me going when the going gets rough and time seems to dwindle to nothing.
What fulfills you? What are the habits and goals that would bring you the most joy? Start with those to build consistency.
Now create your own version of consistency
As you become clearer about the vision for your life, and you can more clearly identify those areas of your life that truly bring fulfillment to you, then you can start building your own version of consistency. This version will look different from that of another woman, who may be in a different phase or season of life, and who may have a different vision than yours. This version may certainly not be perfect, or tied to a rigid schedule. Yet, it may just be the version that works best for you.
For me, it’s been a matter of honoring my capacity, and building the consistent habits that fit in my own life. It’s been about integrating the various areas of my schedule, work and life, to make it all work as best as possible. That means going to the gym after dropping off the kids to school because I’m already out and I can carve some extra time in the gap. It also means waking earlier to meditate, read and write, so I can be available when the rest of the family is up. It means focusing on my teaching when it’s time to do so and not try to fit in anything else.
Some of the tools I’ve been using in the process include life planners, to help me plan my goals according to my particular schedule.
Last but not least, it means giving myself grace when my best efforts don’t work, when I can’t make it to the gym or be fully present, knowing that tomorrow is another day and I’ll give it another short…
What does consistency look like for you? How can you make it fit and work in your own life and career?
With Gratitude,
The Corporate Sis.
Disclaimer: Please note some of the links in this article are affiliate links.
As layoffs have been sweeping the business and corporate landscape recently in areas such as tech for instance, many have been directly or indirectly impacted by it. Many working women and/or their partners are currently dealing with layoffs, and having to adjust to an uncertain economic outlook. For many, it’s also been an unplanned crisis they were not prepared for.
Even when women are not directly impacted, their partners may be, this disrupting the balance of the household from various perspectives, including an economic one.
So how does one deal with layoffs, whether directly or indirectly? Here are a few tips that may help:
Processing emotions is important
Being let go is emotionally painful. From feeling devalued to a sense of guilt and worthlessness, one can experience many negative emotions from the experience. However, too often, in attempts to show strength or simply because we’re too overwhelmed, many don’t take time to acknowledge theirs or others’ emotions when faced with layoffs. Yet, this is an important part of the process.
Processing emotions related to layoffs includes addressing the negative internal backlash fueled by anger, guilt, and other self-deprecating feelings. It’s a matter of acknowledging where we are mentally, emotionally, and spiritually, in order to move forward in the most effective manner.
Apart from addressing the emotional impact that comes with layoffs, dealing with the financial consequences is also key. Losing part or the entirety of one’s household income, especially in times of general economic hardship, can have monumental effects.
This is where making a financial plan, including reducing expenses, finding ways to create supplemental income, and re-evaluating one’s money mindset, comes into play.
Last but not least, layoffs, as painful and destabilizing as they may be, are also opportunities to revisit and re-evaluate one’s career plans. For many, it has meant going back to achieving old objectives and goals, such as going back to school, starting a business, or even taking some time off to regroup and start again. For others, it’s meant considering a drastic change in careers and long-term plans.
The reality is, disruption is more often than not a chance to begin again, however traumatic and unplanned they may be. Layoffs are certainly no exception…
All in all, dealing with layoffs, whether directly or indirectly, is far from easy. However, with trust in the process, a solid financial plan and the courage to re-evaluate prior career plans, they can also be the gateway to new opportunities and fresh beginnings.
