Hey there, #MoMoneyPosse!
In this series, we highlight our financially fab fam who have learned how to make mo’ money and manage what they’ve got… and who then generously share their hard-earned wisdom with us! (Now that’s spreading the wealth.)
Kathryn Meisner is a career coach who specializes in salary negotiation, how to kick a$$ at work while actually loving what you do, and teaches her clients how to become both confident and competent when on the hunt for their dream job.
Kathryn knows that one of the fastest and most effective ways to accomplish your financial goals to simply make. more. money. As someone who has made the most of her own career changes, Kathryn is offering the #MoMoneyPosse a short and sweet bonus for the new course she’s launching! Check out her advice about how – women, specifically – can be proactive and take control of their finances… one negotiation at a time.
1. Hi! Who are you and what do you do?
I’m a career coach, aka “the guidance counsellor for adults.” I help people find and land the job that’s right for them.
I also help women earn more money through salary negotiation strategies that are specific to women (and actually work). I’m doing my part to decrease the gender pay gap, one woman at a time!
I offer one-on-one coaching sessions and a few times a year, I open the doors to my aptly-named online course, Guidance Counselling for Adults.
GCA is actually open right now until May 2nd and there’s a special promo code for Mo’ Money Mo’ Progress readers so you can save money while figuring out your career.
Use the coupon code “MOMONEY” and you’ll get 20% off when you enroll in the Foundations level of GCA.
2. Do you have a money habit you practice that has made a big impact on how you made mo’ money or manage what you’ve got?
Negotiating my salary while keeping my expenses low is the financial practice that has given me that biggest bang for my buck (pun intended)!
I had to pay for my own education which meant that I had over $65k of student debt when I finished university. I lived extremely frugally but saving a few bucks here and there wasn’t adding up as fast as I needed it to. That’s when I realized that the impact on my budget (and debt repayment) was going to come from my salary.
So I became “a student of negotiation” and learned everything I could about negotiation – especially negotiation for women.
I started by doubling my salary within 1.5 years while I was working at a charity. I negotiated a $10k increase when I was hired for a non-profit, grant-funded role (folks who have worked in this sector know this is not easy!) I then made a $50k jump in one job change.
All of this was because I negotiated my salary. Nobody was going to offer it to me. I had to ask and know how to negotiate.
When I merged finances with my husband, the $65k debt became over $80k… Through the practice of salary negotiation and keeping expenses low, we were able to pay off our debts when we were 30 (super proud of that!)
And when I say salary negotiation is a practice – I MEAN IT. It’s a skill, and like any other skill, it can be learned and requires practice. Negotiating as a woman can often require specific skills and extra practice because we tend to undervalue ourselves or not even try to negotiate.
Now, I get to help clients do the same (some have negotiated salary increases over $55k).
3. Who taught you to manage your money? What was their best advice?
My parents! Starting at age 4, I had an allowance. They always shared our financial situation with me and my brother. While it was sometimes stressful, it really gave me insight into managing money. I learned the value of a dollar at an early age.
Also – Shannon Lee Simmons is my financial fairy godmother. She has helped me me build upon my good financial habits and has helped me learned the financial side of my business.
4. What does being “financially stable” mean to you?
Paying my bills, saving for the future, having an emergency fund, travelling a few times a year (considering going to Iceland for the second time soon!), and having the flexibility to do things like leave my job and start a business.
5. What is the main lesson that you think Millennials need to learn, or hear about, when it comes to making mo’ money and mo’ progress?
This one goes out to all the ladies: ASK FOR MORE. Negotiate your salary. It will immediately impact your finances. The more you earn now, the more you can save now, and the more you can earn later.
In case you missed it, Kathryn is giving a special gift to the Mo’ Money Mo’ Progress fam! Enrollment for her new Guidance Counselling for Adults (GCA) course is closing super soon, so if you’d like to sign up and take advantage of a sweet 20% discount, don’t forget to input the coupon code MOMONEY.
Woo hoo! Thanks, Kathryn!