Stories , Interviews
How women can be rich & wealthy?
"This is the first time in India's history that so many women are earning - probably more than their parents or grandparents. Yet, managing their own money productively is not taught or encouraged in our patriarchal society. Women On Wealth's mission is to help women create wealth with our education and training programs. We are not financial planners, though we're competent in that field, too. We run money mindset training programs at WOW Money Gym where the goal is not just making more money. The goal is living life on your own terms.", says Priyanka who leads money mindset training programs at WOW Money Gym.
As the term wealth attracts you, me, or anyone, Priyanka Bhatia helps women become money magnets. Meet Priyanka, founder of WOW, Women On Wealth, and co-founder of Money Gym. Money can really make one lose one's head. But this bindaas Punjabi girl is cool, polite, and knows great Bhangra dance moves.
Read the interview in detail to get better at your wealth quotient.
When did you first understand this is your calling?
When our first client realized her 10-year-old dream of buying her first property after just 3 months of completing her money program, I realized this is what I wanted to do - train women in managing their mindset, losing habits that sabotage their life goals, handle money effectively, and - most of all, be free of anxiety about money. This fulfills me! It inspires me and gives meaning to my life.
How do you help women create wealth?
We're excited to share a methodology that has been developed through personal, practical experience, years of research, and thousands of hours of training that helps women create wealth. This is high-impact, step-by-step method that takes around three months to complete, depending on the level of the individual. Our participants are entrepreneurs, home makers, executives, and even CEOs. Women who have worked with us have created and reached their financial goals - even those that looked impossible to reach!
What do you think are the 3 biggest hurdles that women face in creating wealth?
The single largest hurdle is Mindset. Women's limiting mindset comes in the way of them creating wealth.
Some of the ways of thinking that sabotage financial freedom are:
Somebody else will manage my money for me.
The men in my family won't let me.
I can't do the math.
I know how to do this, even though my way doesn't seem to work.
Life is right now - let me just spend. I'll think about the future later.
I'm destined to struggle for money in my life. No point in doing anything about it.
Let me invest - that will be my compulsory saving. This will help.
I'm living from paycheck-to-paycheck, and it's ok. Money will come.
I'm in a vicious circle. No one can help me, now! This is what my life is about.
Women let their habitual way of thinking be the biggest hurdle in them creating wealth. These habits continue to keep them stuck in their current financial situation, and not take the actions which are needed for them to reach their goals of -
- Having enough money
-Being a better money manager
-Be debt-free
-Buy property
-Corpus for children's education
- Retirement fund
- Holidays, solitaire ring, etc.
What you should not do if you want to be wealthy and rich?
If you want to be wealthy, just recognize your challenges with money and don't let your mind keep you in that trap. Remember the saying "The mind that created that problem, can't solve it." It just goes well for our program.
First thing you need is get clarity on your financial goals
- Identify your current financial situation
- Identify the gap between where you are and where you want to be financially, and
- Build a roadmap to covering that gap
2 most important money-killer habits:
- Spending unconsciously - raising your financial consciousness is the key to building financial intelligence. The consciousness can't be raised without creating structures around money - and, this is what our program does. It helps you get structured and organized with your money so that you're financially intelligent and financially free.
- Investing without learning money management and building the mindset of an investor - is like building the first floor of your house without building the ground floor. Can the first floor be built? No! It can't - pretty obvious, right?
Similarly, in your financial life, money management and building the mindset of an investor is the foundation of your financial life. Without a strong financial foundation, jumping to investments will not help you grow your money and be wealthy. I have decided to go to WOW Money Gym and learn to build my financial abs.
Would you?
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