Thrifty Thinking: Women and Investing

When doing research for her newly-released book, Ann Marie Sabath, author of What Self-Made Millionaires Do That Most People Don’t, was shocked to learn that less than 20% of self-made millionaires in the US are women. After talking with more than 100 women during the past twelve months, she came to the conclusion that a large percentage of women need a confidence boost to own their financial future.
Sabath knows first-hand how they feel based on her own experience. She herself evolved from having little money thirty years ago to starting what is now a thirty-year-old business. Twenty-five years ago, she began maxing out her pension contribution and hiring a financial advisor. Twenty years ago, she joined the Beardstown Investment Club to network with other women who also wanted to become financially savvy. Finally, five years ago, Sabath climbed the last wrung of the slippery ladder for financial success: she began managing her own portfolio!
As a result of this experience, here are the six pieces of advice she recommends for women—men, too of course—to own their financial future:
1 - Recognize That Money Is Indeed Your Friend
First and foremost, it is essential for women to recognize that money IS their friend. They must also realize that there is more than enough to go around after they learn how to create it. 
More often than not, women have been raised with a law-of-scarcity mindset rather than one of abundance. Sabath strongly encourages women—men, too—to repeat the mantra, “Money is my friend,” to themselves daily.
During her workshops, Sabath asks women how many have more than one child. She then asks the individuals who raise their hands if when carrying their second child, the question ever crossed their mind, “Could I ever love my second child as much as I do my first?” The unanimous answer was yes.
Sabath explains to women that just as giving love is limitless to their second, third, and fourth child, so is money limitless to them when they are open to the law of abundance. When they accept this principle, they will see the opportunities that are within an arms-reach of them (Secret 34 for Creating Your Own Success: Create Your Own Luck). They will also begin creating their own opportunities and even begin teaching others (Secret 7 for Creating Your Own Success: Take Control of Your Life).
2 - Believing Is Seeing
Most women underestimate their earning potential. Sabath strongly recommends women document their goals (Secret 6 for Creating Your Own Success: Set Meaningful Goals).

And if even one dirty doubt enters their mind, Sabath insists that these women write down that dirty doubt and then shred it into pieces. By repeating this process until the doubt is completely dispelled, these individuals will recognize the power of believing (Secret 4 for Creating Your Own Success: Believe in Yourself) in order to make what they want a reality.
3 - Begin with the End in Mind 
Sabath strongly encourages her soon-to-be followers to decide on what they want their financial destination to be and then work backwards. By doing so, they can break down what they intend to earn and certainly save on a daily, weekly, monthly, and annual basis according to the end result that they want to achieve. When women are told this, they recognize that it is the same process as planning a trip. You figure out your intended destination (Secret 7 for Creating Your Own Success: Take Control of Your Life) and then make the necessary plans to get there.  
4 - Live Your Life in the Law of Abundance
Most women—men, too, focus on what they do not have rather than recognizing what they DO have in their lives. By creating a law-of-abundance mindset, women will see exactly how rich their present lives are—to include good health, a family, a job, etc. The more they develop this law-of-abundance mindset (Secret 1 for Creating Your Own Success: Create A Millionaire Mindset), the wealthier their mindset will become. They will soon see that experiences and opportunities that were once a mere dream are in front of them.
5 - Do What You Love So That You Can Begin Loving What You Do
Sabath is passionate about women defining their passion (Secret 3 for Creating Your Own Success: Find Your Passion) and then figuring out a way to begin monetizing it. She gives her own example of always loving to share her wisdom with people. For that reason, she founded her own business consulting firm thirty-one years ago and has been paid quite handsomely by simply advising people on how to do business with more charm and savvy.
6 - Take Time to Think 
Women give their hearts and souls to others. When they finally have time for themselves after getting home from work, feeding the kids, giving attention to their partner, getting ready for the next day, and then falling into bed, they have no time to give themselves the attention they certainly need.

Sabath admits that when her children were growing up, in order to be a wonderful mother, she “scheduled time to think” (Secret 26 for Creating Your Own Success: Take Time to Think). More often than not, Sabath scheduled her “think time” in ten-minute increments to include taking ten extra minutes in the shower, driving around the block where she lived three times before pulling in the driveway, etc. Not only was she putting herself first for those 1,200 seconds, she also could give 100% attention to her family’s wants and needs, thanks to knowing the importance of giving herself that time to think.

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Ann Marie Sabath is the founder of At Ease Inc., the 31-year old New York City-based business consulting firm. Her ninth book, What Self-Made Millionaires Do That Most People Don’t: 52 Secrets for Creating Your Own Success was recently published by Career Press. For more information, visit www.AnnMarieSabath.com.