.JPG)
Money and life coach Marianna Olszewski is the bestselling author of Live It, Love It, Earn It: A Woman’s Guide to Financial Freedom. I had the great opportunity to interview Marianna Olszewski about her book and her life.
Q. What inspired you to write Live It, Love It, Earn It and what's different about it than other financial guides for women?
A. My vision was to share my story of coming from humble beginnings and creating the life of my dreams in hopes to help women stop struggling around money and to go for their dreams, too. LLE is a fun, inspirational guide that’s easy to read and interactive; which is different than your typical financial book. My approach is a holistic, integrative approach starting from "Saying Yes to Yourself" to an "Attitude of Gratitude". Included are 13 interviews of iconic businesswomen of our times, including Diane von Furstenburg, Tory Burch and Tamara Mellon.
Q. Why write a guide just for women? Is the way women and men approach their finances really so different?
A. I am finding that a lot of men really like the book and buy it for their girlfriends, wives and sisters. In my research I found 3 interesting things in most (not all) women: 1) We women spend and debt based on emotion; 2) We feel like we want the job/ career/ etc but also feel "we don’t deserve it"; 3) At one point or another we think, wouldn’t it be nice if someone or something came along and saved us from our money worries?
Q. How do women know that it's time to read your book?
A. If you are struggling with money, don't want to open your bills, living paycheck to paycheck, want more money – now is the time!
Q. You say that there's a lot of emotion surrounding debt when it comes to many women, including anxiety, anger and even shame. How do women get beyond these feelings and start heading toward empowerment – especially in today's tough economy?
A. We have exercises in LLE to help you overcome anxiety, anger and shame around money. For example, our money history exercise uncovers the reasons why you are compulsively debting and spending. The mixed-money message exercise helps you change these messages into positive ones.
Q. You, as they say, came from humble beginnings and yet you managed to create a multi-million dollar Wall Street firm. But you also earned an MBA and worked on Wall Street along the way. Did you ever struggle with money or money management or is this something that has always come naturally to you?
A. Yes, I have struggled, and that's why I wrote this book, to let women know that I have been there – living paycheck to paycheck, barely having enough money each month, driving a junkie car, not having health insurance – and changing my life around using the steps in LLE.
Q. You advise women not to rely on men when it comes to money and to create the same kind of relationship with money that they do with their boyfriends or partners. Can you discuss this advice and why it's so important?
A. Well, many of us, and myself included, have fantasized about someone coming to “save me” from all of my money problems. The easier, softer way is to go out there and follow your passion, your dreams and talents and create the money and the life you really want. You are empowered and happy and are living your dream! I suggest getting to know your money as you would get to know a new boyfriend. Have a date with your money. Pick a day and a time each week, say every Monday at 7pm, get out all your bills, credit card statements, checkbook and spend time getting to know your money, where its going, how much do you own and owe etc. You can download free help sheets for your money date at http://liveitloveitearnit.com.
.jpg)
Q. What about married women? Can they learn from your book as well? How can married women become more empowered about money in a home with two incomes, and what if their husbands or partners want to be in complete control of the household finances? A. I urge all married women to 1) Get involved in the family finances. Sit down each week and go over the family's expenses, income etc. Ask about the finances. Tell your husband that you will help him, so he doesn't have to do it alone, or ask what can you do to help. 2) Have a "just in case" bank account with 6 months of expenses in it in your own name, just in case you need it – job loss, health crisis or divorce. 3) Have one credit card in your own name, and talk to a financial planner about having some of the assets in your name or joint names.
Q. In Live It, Love It, Earn It a lot of your advice for women and finances involves writing it down in things like notebooks and journals and business plans. Why all of the writing? How does this help?
A. When we take our ideas and dreams out of our heads and put them in black and white on paper they become REAL, what I call going from "fuzzy to firm". Once we have them on paper we can look at them, revise and tweak. I meet women all the time who tell me about their ideas for a new business. I see them a year of so later and, when I ask them about their new business, they tell me it never happened. It’s because they never took those ideas and dreams out of their head and made them REAL on paper.
Q. A 2009 study from Javelin Strategy & Research reveals that women are 26% more likely to have their identities stolen, 50% more likely if they are Hispanic? Does your book offer advice on what women should do to 'control' and safeguard their finances from forces outside of the habits and behaviors they can control?
A. LLE urges women to look at their finances every week and use the tools in my book including my Fun Spending Plan, Assets & Liabilities chart. Being on top of your money situation and aware of your credit information can help with situations such as this.
Q. You don't endorse bankruptcy in most situations. But is it ever too late to start getting one's finances in order? Is it ever too early to think about finances?
A. I do not recommend bankruptcy in most situations because it has a devastating effect on one's emotional, mental and physical state. Taking financial responsibility for your financial irresponsibility is the only way to empower oneself and feel good about oneself. It is never too late to start getting your finances in order and never too early. Once you are clear about the numbers your anxiety will lessen.
Q. As supportive husbands, boyfriends, brothers, fathers, sons and partners, what can we do to help empower the women in their lives about money?
A. Talk openly about money and financial situations. Don’t keep finances a "secret". Be supportive emotionally if the woman in your life is struggling with debt or money issues.
Q. What's next for Marianna Olszewski?
A. I enjoy speaking at women's conferences around the US and will continue to do this, helping women empower themselves by living their dream and taking charge of their money. There is probably another book in the works in the next few years.
Live It, Love It, Earn It by Marianna Olszewski. December 2009. Penguin Group 272 pages.
For more great author interviews, check out the Author Interview Series from Frank Mundo, the LA Books Examiner.
Don't forget to subscribe to my emails and follow me on Twitter @LABooksExaminer for the latest updates on the site.
Comments
This really sounds like an excellent book for men and women. I'm not sure about a "date", haven't done that in over 20 years, but some harmless flirting with the finances might be doable.
Got something to say?
Examiner.com is looking for writers, photographers, and videographers to join the fastest growing group of local insiders. If you are interested in growing your online rep apply to be an Examiner today!