Struggle to pay bills? 2 tips to ease the pain

Struggle to pay bills?  2 tips to ease the pain

This is not a blog about scheduling, automating, or any other bill system, this is about changing your attitude towards bills.

I have no issue paying bills, on time every time, and here’s how I got to this happy place!

Tip 1: Be Grateful, and Proud

Okay has Wealthy Chick gone mad? Grateful for bills?

Totally sane because I like feeling good about myself and my finances:

  • Grateful I have the funds to pay my bills, and
  • Proud that I can prioritise and “adult” effectively

Lets break this down, if you have funds to pay your own bills you are doing well, even if there isn’t much left over, you are providing for you and your family, and that’s worth celebrating.

If you changed priorities, missed a social event, buy Aldi wine, yep that’s me, to make sure the bills were paid, I’m proud of you. You’re adulting and a super responsible Wealthy Chick (or Dude, thanks for joining us)

So next time you cry “I’m hopeless with bills”, do this:

  • look at your bank account, can you pay the bill?, YES
  • Celebrate, shout woo hoo, because what a privileged place to be

Note: If you honestly say No to step one contact me for some help, first session is free.

Note 2: Once you have finished celebrating, with Aldi wine, pay the bloody bill!

Tip 2: Acknowledge the Benefit Received

If you are still whinging about the cost of the bill stop and reflect on what you received.

Sometimes we take for granted what we pay for, and if we reflect on the benefit received we start to see the value. Here’s an example:

Electricity and gas:

OMG I love my hot shower or a nice relaxing bath.

All of my hair devices…….it takes a lot to get this mane looking fabulous!

I love heating in winter, so warm and snuggly.

I love cooking, for me, for friends, for my dog (yes I cook Hugo’s food, no judging!)

I love my fridge, it keeps my wine and cheese cool and fresh. Oh, and for food, of course!

I cannot live without a charged iPhone, ipad, and the laptop I am writing this on. It allows me communicate and stay connected with you, my friends and my family.

I love being entertained watching Netflix on my rather large TV and listening to my favourite music on surround sound.

I am comforted by lights that make me feel secure and stop me bumping in to things when I walk through the house, well most things, that sneaky dining table jumps out at me at least once a week!

I love a really strong, hot cuppa first thing in the morning.

I love clean sheets, they are the best.

Security, food, wine, heating, cooling, joy, entertainment, security etc is brought to me by electricity and gas, that I pay for….and when I consider how much I rely them for both my personal and business life, I happily pay on time.

You can review and acknowledge the benefit from any bill, and if after a review you don’t receive, don’t complain, discontinue the service and stop paying the bill (gym membership anyone?).

Otherwise, pay the bloody bill!

Bonus Tip: Don’t get Ripped Off!

Just because I’m adulting and grateful doesn’t mean I get ripped off. I review and compare everything to make sure I’m still receiving the best deal. Here’s how to make it fun:

Wine and Cheese

Schedule time for yourself, or you and your partner, and call it

“wine, cheese and sticking it to the bills time”

Make it fun, be kind, and laugh at yourself when you admit you overpaid on electricity for a year, oh wait that’s me, anyway…..get the best deal, and celebrate the savings.

Do something special with 20% of the savings, and save, properly save, the rest….it’s bonus money, and Wealthy Chicks save the bonus money.

In closing, go and pay a bill today, be grateful and proud of yourself, because I’m very proud of you for making it to the end of the blog, and paying your bill with a smile!

 

 

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Dammit – I Undercharged Again!

Dammit – I Undercharged Again!

Don’t look away because you don’t run a business, this resonates with people who:

  • Are underpaid (Australian woman earning on average 16% less than their male counterpart)
  • Work extra hours for no reward, nothing, WHY?
  • consultants who undercharge, or don’t charge, for their valuable services

I’ll get to reasons why we undercharge, but first, what happened to Wealthy Chick this time, and I’ll admit this lesson was painful as it was an (obvious) opportunity to charge a premium.

The Situation

Lunch time I am contacted by a potential client to provide an Expert Opinion Report by the next day. I was free later that afternoon and a client had rescheduled, I’m in.

Then comes the dreaded question

How long will it take and what’s your hourly rate……

warning will robinson

I ignore the warning and didn’t act like a Wealthy Chick. I jumped in with a short time frame and a low rate, completely disregarding the value I was providing:

  • an expert opinion
  • provided at very short notice
  • in a professional report

Instead I focused on:

  • Phew, I can replace income lost when my client rescheduled
  • How nice the universe sent me this opportunity, lucky me
  • Not charging too much as I want future work with this client
  • Not charging too much as this was a simple job, for me

Why Do We Undercharge?

Your brain is probably already firing with so many answers, so lets breakdown my experience:

  • Devaluing our services/ worth – because the work was relatively “uncomplicated”, for me, I decided to undercharge. The reality is that it took me 12 years to become an expert in a complex field, and undercharging devalued my efforts
  • It’s better than nothing – I felt relieved that I would be earning something, instead of nothing,  when I should have focused on the right price
  • It’s about experience and building relationships – which it can be, however this was not the time to discount. The client called me to help them solve an issue, urgently, because I had the expertise and they needed me
  • Embarrassed to ask for what we’re worth? – I’ll admit I worry people will laugh, loudly, when I quote my full rate, and we’ll just end up negotiating a lower price. This wouldn’t have happened here, and in the unlikely event it did, the negotiated price would have been higher than my discounted rate.
  • Not Charging a Premium for Urgent work – I was providing this client with valuable, game changing expertise at very short notice, and instead of adding a perfectly acceptable premium to my rate, I gave a discount.
  • Not believing/ communicating the value of my services – this is probably the crux of the matter, I question my value, who am I to be charging so much, surely there is someone better than me, blah blah blah!!!!! I am exceptionally good in this area, and I need to own that, communicate that and charge a premium.

How to Own and Understand your value and charge appropriately

When I was discussing the final report with the end client, lawyers by the way, one commented:

“It must feel great to be the smartest person in the room”

It did, ego inflated, but it clearly demonstrated how much I had undercharged and why it won’t happen again:

  • I am unique, my services and experiences are valuable and credible (own this!!)
  • What is easy for me is actually difficult/impossible for others, charge a premium.
  • Repeat back to the client the value you provide then state a rate using language that demonstrates the deal is done (see underlined words). In this instance I should have said “To clarify, we agree in less than 24 hours to provide a report that is critical to our clients success. I will produce this report on short notice however I will need to adjust my schedule and charge a premium to ensure we meet our clients urgent deadline, my rate is $x (x = normal rate plus a premium)”
  • Clients expect to be charged, and while everyone loves a bargain, when it comes to urgent critical services, clients will pay a premium for your expertise.
  • Your value proposition is likely to be your story, it is unique and special, so tell it confidently, in your voice, your language and the right clients will connect with you

 

I hope you enjoyed another peak in to the life of this Wealthy Chick, and I’d love to hear your stories. I’ll touch on salary negotiation and how to get rewarded for unpaid overtime, even when you are on a salary, in a future blog.

 

 

 

 

What A Ski Trip Taught me About Strong Women

What A Ski Trip Taught me About Strong Women

My first ski trip with 7 fantastic women, loads of fun and a few interesting challenges along the way. So what did I learn about strength from a ski trip?

Physical Strength

Skiing you need to be strong to ski, especially stopping in time before taking out other skiers, something the guy who ploughed in to me didn’t perfect!

Snow that stuff is heavy. Picture this, the hotel carpark and its the female staff shovelling snow off the driveway, plus our all female group digging their cars out. Woman Power.

IMG_0474

Ski Gear also heavy! The boots could be made of lead, plus carrying ski’s, poles, helmet and goggles, cinnamon donuts…okay the donuts were hot and fluffy, and didn’t last long, but overall, heavy!

Mental Strength

There was something about cards and finances that weekend:

  • lost credit card
  • lost drivers licence
  • $50 stolen
  • hefty speeding fine, and
  • a phone banking scam.

Inconvenient, sure, a fun limiting problem, no way! There was no whinging, no dwelling on the issue, instead an attitude of these things happen, let the fun continue.

We also had car adventures! In addition to the hefty speeding fine (the little police chase was a bit funny), we also had:

  • a slight bingle on the icy hotel driveway
  • challenges attaching snow chains to the tires
  • driving on icy roads for the first time
  • clutch starting the car, in reverse, down a hill after it wouldn’t start. Handy hint, don’t turn the car off when removing snow chains!

IMG_0475

Then some of us were first time skiers, and as daunting as that felt we had to get out of our heads, accept that we’d fall on our butts, a lot, get back up and continue our lessons.

None of these obstacles dampened our spirits, just our pants! We kept on getting up, sometimes off the snow, and kept going.

 

How do Strong Woman Deal with Challenges?

Attitude – our goal was to have fun and a few hurdles were not going to ruin the snow fest.

Gratitude – no matter the problem we remained grateful, either because the problem could have been much worse, or because of how fantastic everything else was.

Move On – resolved each problem in isolation and then closed it off. We get discouraged when deposits are constantly made to the Problem Bank, creating a bigger and more overwhelming problem balance.

Forgiveness – sure some of these problems were self-inflicted, a lapse in concentration, however mistakes happen, so instead of beating yourself up, be kind and forgive yourself.

So, snow adventure anyone?