We Need a New Definition of Money

In a recent interview with Dr. Melody Ivory, I was asked if earning too much money is unhealthy for some women. Fascinating question!!! I believe that more commonly, women don’t earn at their potential, and this “underearning” is very unhealthy for them. But there is such a thing as “over earning”—when you become so focused on earning money that it has a negative impact on your life.

But make no mistake about it—I  don’t believe money is the “key to life” or “money makes you happy.” I do believe it is a lot easier to enjoy life and do the things you want to do, if you make enough money. I believe it is easier to take care of your family if you make more money. I believe it is easier to take care of yourself! Many women are living in too much deprivation. We are tired of old cars and no decent vacations. We long to have enough money to spend on our homes and our bodies. And what about the woman we will be in thirty years?! We need to make enough money to take care of her!

Are there people who are overly focused on money? Sure! To me, this goes back to work-life balance. Could I make more money? Perhaps. But that would entail working more than I want to. I value my private, non work time. I am as focused on my career as I can be, during the time I work. But after hours? You’ll find me scrap booking, watching football and playing with my nine year old!

The key is to be as conscious as you can about your time, your work and your attitude towards money.

Ultimately, we need to redefine our definition about work and money. “Earning our worth” is not simply about making more money. It is about appropriately valuing our work and valuing our time. Why do you want money? I suspect you want more options. You want more freedom. It is about having more choices in life. Now THAT is motivating.

What does money mean to you? Is it time to get rid of an outdated definition of “money as a necessary evil”? Here is a new definition: money is freedom and choice. It is as simple as that.

(Click here to listen to Melody Ivory’s interview of me. The first audio is 12:58 minutes long. The second one is 9:50 minutes.)

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Copyright © 2008 by Mikelann R. Valterra and the Women’s Earning Institute. Empowering women to earn what they’re really worth, www.womenearning.com.