Daily Worth

I signed up to receive the Daily Worth emails which is daily financial advice for women. I love it. Today was very interesting. I think that everyone is very tight lipped when it comes to their salary - I think there is a lot of pressure to behave/have/do certain things when you make a certain amount. People have different perceptions of you depending on how much you make. For instance, if you make $40K but shop all the time, they might think you are ignorant about money, not smart, etc. IF you make $70K and watch your money, people might think you are a penny pincher. It really is all what OTHER people think and I think that is why people don't talk about salary. They don't want to hear other people's opinions about them/what they should/not do with their money. Just my thoughts. Anyway - here is the article -

How Do You Value Yourself?

By MP Dunleavey on Monday October 26, 2009


As women, we chronically devalue ourselves. It's not an easy habit to break. I just did it, but it has taken years.

Breaking the Habit
First, in an odd way the economy has helped. Money is tight and low-balling is rampant. I've been going through so many job negotiations, it has forced me to reassess my own worth and stick by it.

Second, I was lucky enough to receive an epiphany: A good friend was giving me advice before a job interview recently, and she told me her income, as well as the salaries of some other colleagues in our industry. "That's your range," she said. "That's what your peers are earning, and that's what you should be earning."

What a priceless gift. I was fearless (trembling, but brave) when the interviewer asked for my salary requirements. I had never named a number that high. But was I worth as much as my peers? Absolutely.

Courage begets courage: A few days later a woman offered me a pittance for a project. I stated firmly what my time was worth, and reminded her of the benefit she would gain by hiring me. She said she needed her boss's approval. I shrugged and made it clear that if they couldn't pay what I was worth, I wouldn't do it. And I meant it.

What You Can Do
Here are three ways you can increase your earning:

1. Whenever possible, share income information with friends. Economic knowledge is economic power for all of us.
2. Run your numbers. Knowing your worth starts by calculating the baseline you require to live a financially sane life—cover expenses, sock away savings, meet your goals.
3. Stretch. Identify a co-worker, friend, neighbor, relative whose standard of living you admire. What do they earn? Make an educated guess (it's not hard). Are you within range? How would you get there? Now, give yourself permission to get there.