I was 36 years old, earning just $36K per annum, on a short-term contract when I finally ‘woke up’.
No kids, no big, expensive divorce and no-one had gambled away my savings
Yet I had no money in the bank and no prospects either.
I had however, started my career late and worked casually, in low paying industries with a focus on purpose, passion and lifestyle (including a stint in PNG as an expat) rather than financial freedom.
If wealth was measured in adventure I’d have been one of the wealthiest women around!
But it’s not - and I wasn’t.
We live in a world where money matters.
My financial situation sucked.
Sadly, I was/am not alone.
Women in Australia not only earn less than men (currently 15.3% WGEA), but when we retire we have just half the savings of men.
In fact, almost 30% of women who retired in the past four years had no superannuation at all, according to the latest HIDLA study.
For me three things happened
- I got really serious about my career progress. Enough of the fun stuff. Time to apply my talents elsewhere.
- I took responsibility for turning around my earning potential and superannuation balance.
- I met a woman who inspired & taught me lots about finances.
I drew my line in the sand.
Have you drawn yours yet?
The article in this link is yet another salutary (& timely) reminder. Thanks to Angela Priestly of Women's Agenda for inspiring this blog.
Negotiation, salary and superannuation for women are some of my favourite themes. We simply don't talk about it enough. There is nothing grubby about talking about money so let's do more of it! Three more articles in the links below.
- It's not all about the money. Or is it?
- Little known negotiation starters that work for executive women
- What's the value you add?