What is wealth?

The Oxford dictionary describes wealth as…. an abundance of valuable possessions or money.

If wealth is only possessions and money, why do so many women with lots of this kind of “wealth” feel they live in scarcity?  Why do some women with very little of this kind of “wealth” possess a peace that can’t be explained.

It’s because wealth is so much more than money or possessions.  Wealth is a mindset.  It is not based on what we own, but on the value we already hold.

Redefining Wealth

From years of working with women and observing their interactions with their financial life, I have discovered some similarities that wealthy women possess.  Over the next few weeks, I would like to introduce you to 5 women.  Through them I have adopted a new definition to the word wealth and what it means to be a wealthy woman.  A wealthy woman is:

• Free of comparison
• Content with what she has
• Willing to learn
• Generous
• Led by faith, not fear.

When we redefine wealth, we make it accessible to all women.  When we feel that we are wealthy, we are more comfortable and prepared to participate in our own financial lives.

I hope that when you meet these women and hear their stories, you will define wealth differently and realize the wealth you already have within.  In doing so, you will feel wealthier and grow in confidence.

Meet Mary.

Mary is in her mid-60’s and is a temporary resident at a homeless shelter for women and children.

I met Mary when I was teaching some financial planning classes at the shelter.

One evening while I was planning for our class, God laid this question on my heart…what are the characteristics of a wealthy woman?  As I pondered this question, I felt like God was telling me, “Show them something different.  Show them something that is available to all of them.”

Later I posed this question during our class, “What are the characteristics of a wealthy woman?” These are some of the answers that I heard:

She gets her nails done. She lives in a two-story house. She has a lot of clothes.

At times, I might have called out some of the same answers as these women.  Like them, I want to look nice, be fashionable. I want to own nice things and live in a nice house.

After a few quiet minutes, Mary said “She is surrounded by family, and she helps others.”

Mary had figured out that wealth is not found in possessions or outward appearances as our society might have us believe.  Wealth is finding validation in something greater than what we see around us.  Regardless of circumstances, Mary was at peace and did not look to others for comparison.

Meet Aileen.

Aileen is 65 and will retire this year after working for over forty years.

Aileen says.  “When I first went to work in my twenties, I spent all I had every time I was paid.  Yes, I paid my bills but then I spent everything else on stuff for my house or on clothes at the mall.  This went on for years.  When I bought stuff, especially a new outfit, I would feel so much better about myself, at least as long as the outfit still felt new.

A few days before I would get paid again, I would only have a few dollars left and I would have this pit in the bottom of my stomach.  I would just hope that I had enough gas to get through and that no surprises would come up.  I got tired of living like this and feeling that pit in my stomach.  Eventually the fear I had at the end of the pay period far outweighed the joy I felt when I got a new outfit.  I had to make some changes.  The next time I went shopping purely for my emotions, I decided I would not buy an outfit right there on the spot.  If I saw something I liked, I would wait and if I still wanted it a few days later I would go back for it.  Slowly, my behavior started to change, and I didn’t feel like I had to keep buying stuff just to make me feel good about myself.  As my little savings account grew so did my confidence.  As the end of the pay period approached, I didn’t have that sickening feeling because I still had a little money left over.

Fast forward 40 years, and I am about to retire.  Those habits I put in place in my twenties have stuck with me.  Even though I don’t have as many material possessions as some people, I don’t have any credit cards either.   I have learned to live within my means, regardless of the amount.”  Aileen shares her secret that a wealthy woman is content with what she has.

Can you relate to Mary or Aileen?  Do their stories stir something from your past or even your present?  Their stories are not that different than any other woman but the effect that it has on each of their lives is profound.  Let’s chat about your story.  Together we can find a path that leads you to experience wealth in a different way, a way with peace and confidence.