Liz Wolgemuth of U. S. News and World Report interviewed me for a piece she published yesterday about the stress women are feeling about the state of the economy. As things get more difficult, women are facing challenges both at home and at work.

She asked me if I thought women were feeling more stress than men.

Answer: Yes, because by 2:1, women serve as the family CFO. And as CFOs, they are faced with decisions about how to make ends meet in the short term as well as longer term issues such paying for college and saving for retirement.

She asked me if women should hold off asking for a raise (or a bonus) given the struggles businesses are facing now.

Answer: Not necessarily. I believe that if you deserve a raise, you should ask for it. Of course, as always, you should be prepared to articulate a strong case on your accomplishments on behalf of the company ─ not just what you have accomplished but how your contribution has helped the firm:

• Increase revenue
• Decrease costs
• Manage risk

If you want the nuts and bolts of how to negotiate compensation, email me at carol@negotiatingwomen.com because I am offering a complimentary download of our e-learning course, Getting What You’re Worth (a $99.95 value) to The Thin Pink Line readers in return for your agreement to let me know how you benefited from it. Please email me right away as this is a limited time offer!

As I told Liz, it has been my experience that stress is exacerbated by feeling powerless. When things you can’t control are going in the wrong direction, be proactive. Putting a full financial plan ─ one that addresses financial objectives, considers ongoing (hopefully rising) income as well as expenses ─ in place will allow you to see where the gaps are and to take appropriate action. You’ll feel better, trust me.

It also helps to breathe deeply.

TAGS: difficult economy, financial crisis, financial freedom, negotiating pay, planning for the future, reducing stress

I received a wonderful e-mail from a young woman who decided to take charge of her personal and professional life by creating a “Festival of Carole.”  She sent me this festival-of-carole-2008 Powerpoint that depicts how she plans to achieve her goals.  I thought it was so well done that I asked if I could share it with readers of The Thin Pink Line and she gave me permission to do so.  Take a look at how she thought through her values, goals, and preferences.  Carole has created her vision of the future - and you can too!  Clarity of vision increases the likelihood of actually getting what you dream of achieving.  Keep in mind that a vision without a plan is just a dream, and a plan without a vision just maintains status quo.  Go for it!

TAGS: personal development, planning for the future, Vision