All posts by SeattleMoneyCoach

Your Brain on Shopping: Two Tips to Avoid OverSpending

Avoid OverspendingThe blue suede shoes sit on the elevated pedestal in the department store, calling to you. At last, the perfect complement to the outfit you purchased last month. You hesitate for a moment, afraid to turn them over and see the price…

Understanding what happens in your brain when you spend money on something you really like can make a big difference. This lets you know how to keep your spending brain balanced and your wallet happy – while still enjoying those trips to the mall. Because I love my blue suede shoes.

This is Your Brain on Shopping

Deep in our brain are pleasure centers and pain centers. Spending money on something we like gives off a feel-good hit of dopamine. This wonderful neurochemical is part of the spice of life; it’s the same chemical that floods our brain when we bite into a perfect piece of chocolate cake.

Dopamine is really active when we do things that are new, novel, or exciting. And often, shopping fits this bill. We are “hunting” for something new, and when we hit a sale or find a really great deal it is very exciting and triggers a boost of dopamine.

Then comes the pain. You turn over the perfect shoes and see the price tag. Ouch! And when you pull out the cash to pay for them, you really feel the pain.

It is actually healthy to feel both the pleasure of the purchase and pain of paying for it. We get into trouble (overspend) when we float away on the pleasure and hide from the pain of paying for something.

The Problem

Stores know how to amp up your pleasure centers with mood music, nice salespeople beautiful surroundings and, of course, those amazing shoes on sale.

If you put the shoes on a credit card, the payment is divorced from the transaction, so you don’t feel the “pain” of paying Let’s face it, you know in the back of your mind you aren’t going to pay that bill for a couple of weeks. And even when you do, the shoes will only be one item among many.  So while you may be in shock when your credit card bill arrives, you still won’t really “feel” the shoe purchase. And you will already have (over) spent on the shoes. You have oversaturated in pleasure and not let yourself feel the pain of paying.

Simply put, credit cards unbalance the brain.

(In addition, credit cards induce money fog. Many purchases are lumped into a single payment, making it difficult for our human brains to think about and plan our purchase rationally.)

Some Solutions

Here are some basic strategies to help you be in control and not overspend:

  1. Don’t put your pleasure spending on credit cards. Use your debit card for clothes and things you enjoy. This way you feel the purchase and will be more mindful of what you spend. Keep your credit card for times when you are not prone to overspend, such as car repair.
  2. If you do use your credit card, track your spending in a credit card register right away. Tracking your purchases in your spending plan software almost instantly balances your brain. (MoneyMinderOnline, financial software, was designed to help users track their spending, including credit card spending, for just this reason.)
  3. Find other ways to boost your dopamine levels so you are less likely to do it by shopping.

There is nothing wrong with enjoying shopping and buying things you love. If you allow yourself to feel your purchase you will keep your brain balanced, healthy, and happy.


Want more help transforming your relationship to money? Check out all the eBooks, audios, and more robust products Mikelann has created. Are you ready to break free of the “money fog” and step into earning what you are worth? Are you are ready to get in touch with your emotions so you never feel out of control around money again? Are you ready to love your financial life? Let Mikelann help you get there. Free items are at the top of the page.

Unlock Your Earning Program to posperity by Mikelann Valterra

How To Unlock Your Earning Power in Ten Weeks

Unlock Your Earning Program to posperity by Mikelann Valterra

As a money coach, I work with women on how to transform their relationship to money. We look at how we spend, our debt and savings, and how to feel in control of our personal finances. And sometimes, we need to increase our income. Because with more money comes greater freedom, self-care and the ability to create the lifestyle of our own choosing. 

So if you would like to focus solely on earning more money—and let go of old patterns, thoughts and beliefs that have held you back and learn the tools and tricks on how to earn more–   my ten week program may be a great fit for you. (Here is my link to my two minute video about it.)

Years ago, I struggled with how to earn my worth. When I entered the workforce, I worked very, very hard. But I didn’t earn what I could have…

I didn’t know how much to ask for when I got a new position. And I was uncomfortable asking for a raise. When I had my own clients, I was uncertain what to charge them and worried terribly about raising their fees. (I worried that if I asked for more, my boss would balk, or it would harm our relationship. I worried my clients would leave if I charged too much money.)

Looking back, I had no idea I was “underearning”. I certainly didn’t realize my financial expectations were set so low. But I did get to the point where I resented how hard I worked for the money that I brought in. 

And truthfully, I had some conflicting feelings about wealthy people and those who earned what I thought was a lot of money. 

Mostly, I just worked hard, was really good at what I did, and just assumed that I would be noticed and somehow rewarded for my work.

Over the years, I began to study women and money, and “underearning” in particular. I began to understand the emotional and psychological connections behind why women undersell themselves. I realized that most women struggled with the same issues as me.

I realized that we women almost always sell ourselves short when it comes to asking for what we deserve.

In 2004, I wrote and published Why Women Earn Less: How to Make What You’re Really Worth (Career Press). This book looks at the psychological reasons behind why women undersell themselves (and often don’t realize it!) as well as gives them practical advice. Over the last few years, this book has been translated internationally, from Chinese to Korean, to Hebrew.

In 2010, I was hit with an unexpected divorce (as so many are) and I was left emotionally and financially devastated. As I shared in the last newsletter, I had no home, decimated retirement accounts, nothing but my skills and determination as a money coach. This was an opportunity to put my lessons to the ultimate test. Over the next year, I used every skill I possessed and developed new tools and tricks along the way to unlock my own earning power.  I’m proud to say that within one year, I saved enough to buy a home for my son and I, and started rebuilding my retirement accounts. (My story is here if you missed it.)

I’ve realized what a cord I struck, when I finally shared my story. So many of us want to earn more—and indeed- need to earn more.  And all of us want to earn at our potential.

My new 10 week program includes the tips and tricks I have refined in more than a decade of work—tested by thousands of women, including myself. And I’ve put it together in a super accessible way to unlock YOUR earning power. 

Click here to Unlock Your Earning Power Program 

In this 10-week program, we dive deep into the three essential areas that have a direct impact on your ability to earn more money:

Clarity: How to get exquisitely clear on what you should be making.

Confidence: How to ask for what you’re worth with confidence and skill. 

Core Causes: How to identify, understand and transform the patterns, thoughts and beliefs that are holding you back.

This program is unique and so effective because it does more than just teach you new skills. 

You will identify and let go of the old patterns, thoughts, and beliefs that have previously made it impossible for you to ask for, receive, and expect the income you want and deserve.

If you are ready to:

  • Be generously compensated and recognized for your work.
  • Have a firm confidence in your worth, making it easy to ask for what you deserve.
  • Know how to raise your rates or negotiate your salary without resistance.
  • Revel in a renewed sense of energy, enthusiasm, and eagerness for your work.
  • Always stay on top of your pay scale and earn top-dollar in your chosen field.
  • Experience the freedom and joy of living your ideal lifestyle now, while also investing in dreams for the future.

Then please consider this ten week program. 

Click here to Unlock Your Earning Power Program 

How it works

Each week you’ll receive a:

  • weekly inspirational / thought provoking email
  • 45-minute MP3 you can listen to in your car, on a walk, etc. 
  • short handout with exercises for you and complimentary articles
  • mid-week check in to help keep you going

Listen, you’re good enough right now—just as you are—to be making a lot more money, enjoying an ideal working situation, and a comfortable, wonderful lifestyle.

So take this next step towards realizing your earning potential, making top-dollar in your field of expertise, and enjoying a life free of compromise when it comes to money.

Invest in yourself and your ability to create an amazing, prosperous life….now and in the future.

Click here to Unlock Your Earning Power Program


Want more help transforming your relationship to money? Check out all the eBooks, audios, and more robust products Mikelann has created. Are you ready to break free of the “money fog” and step into earning what you are worth? Are you are ready to get in touch with your emotions so you never feel out of control around money again? Are you ready to love your financial life? Let Mikelann help you get there. Free items are at the top of the page.

Up from the Ashes – My Divorce and Rebirth

IMG_4493True Confession: As a money coach, I’ve struggled with my own issues around money. (Gasp!) Never was it more painful for me than after my divorce. In the end, I was able to learn from that experience and create a lot of amazing help for you to step into your own earning potential. But I’ve never shared my story. I think that until now, five years later, it was simply too hard of a story for me to tell.

As I was working through the process of putting together my new unlock your earning power program (which I am very excited about!) I had to revisit this time in my life. And, after some thoughtful reflection, I decided it was time to finally share the real story of where I was just a few short years ago. I offer it here so you know that you are not alone. And if I can survive and thrive, you can too.

Up from the Ashes – My Divorce and Rebirth 

I awoke with a start, temporarily forgetting where I was. Then it all flooded back to me.  With divorce papers not yet dry, I had taken my 9 year old son and found refuge in my mother’s home.

Everything was gone – everything. I was 39 years old, suddenly a single mother, and I had nothing. I possessed no house, decimated retirement accounts, no savings, and I was seven thousand dollars in debt. And, no divorce settlement was coming my way.

I felt like a refugee, still in shock, with my belongings in boxes on the floor of the room I had last inhabited in high school. The shadows of my old teenage music posters seemed to taunt me from the walls. Sadness washed over me, mixed with anger at a future that felt suddenly ripped away.  And I felt a cold, stomach clenching fear at the daunting prospect of rebuilding my financial life from almost nothing, at almost forty.

I thought of my young son. Down the hall he slept in a small, hastily cleaned out room. He needed a stable home, a yard to play in, and a mom who wasn’t overwhelmed. This was all like a bad time warp, or just a very bad dream that I would surely awaken from soon.

I laid back and cried.

Later, when my mind calmed, I assessed the situation and thought about what I did have. I was a money coach, and beyond the shame of a money coach who currently had no money and a negative net worth (I kept my story and situation quiet, as the emotional upheaval was so great that I could not speak about it), I did have skills that I could use. Though divorce had robbed me of so much, I knew I was good with managing my money – if I had any. And while my emotions felt out of control in this tsunami of change, I was equipped to avoid overspending, and plan where I needed my money to go.

But…I needed more money.

And the thought of being a paid boarder living with her mother for the rest of her adult life depressed me…so I needed to move quickly.

In my professional life, I had written about “underearning” and how women undersold themselves.  And now that it was all up to me, it was time to put my teachings to the ultimate test. No longer was this an academic subject.

Forget “underearning”- I was literally living in a bedroom. I had to step into financial success in a big way.

So I set out to bring my income up. Over the next year, I used every skill I possessed and I developed new tools and tricks along the way to unlock my own earning power.

From tapping into how I had undersold myself in the past so I could avoid it, to learning the skills to ask for what I needed, I learned how to attract more of what I deserved. I improved my negotiation skills. I assessed my private practice fees and marketing.  And I dove deep into the metaphysics of money. I realized I was operating under a whole host of beliefs that had kept me from taking my income to the next level.

In one year I had paid off the debt left from the divorce. I built up my savings that had been wiped out. And I saved up for a down payment on my very own home—and then found and bought a house! I even restarted my retirement accounts.  Yes, I did this in one year.

It was also the year I crossed the threshold of becoming a six-figure woman.

Exactly twelve months after waking up in my old high school bedroom, my son and I rode in the front of a moving truck, leading the crew to this new home that I bought on my own – with no husband and no money from anyone else.

I will never forget the day we moved in. My son ran around the rooms in delight, loudly proclaiming that his bedroom was his new castle. I lay on the floor of my empty living room and looked up at the trees that grew on the property I now owned. I felt like I had a personal, beautiful forest. I lay there for a long time watching the wind move through the branches.  I felt in control of my life and my future and a deep sense of peace and calm spread through me.

Today, it is five years later. I have rebuilt my retirement to where it was before my divorce. And I love my home as only a woman can – a nest that heals and provides me a retreat from the world. Next month I am breaking ground on a major remodel. And next year I have plans to build a second home for rental income.  Life is very good.

After working through this journey, I created a course that captured all the years I had been teaching women how to earn more, that also incorporated all of the new techniques I had learned and practiced. And it is time I shared these powerful thoughts about how I unlocked my earning power – with you.