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Money Shame

Money, like sex, can be a source of shame for many women.

In fact, Google "money shame" and you'll see close to 300K mentions.

This month, SOS will be running a much-needed and fun event about how to invest.

That will help us all learn how to MAKE more money and invest with confidence.

But what about other factors that shape how we think about, spend, save, and invest money?

When I was a little girl, my father took me to buy a dollhouse. I wanted the one with electric lights (because I was a gadget girl even back then). He told me we couldn't afford it. I remember feeling so ashamed that I had even asked.

Fast forward to my teen years. I remember my mother standing at the sink crying because she was deeply unhappy. I suggested she leave my father. She told me she didn't have any money of her own. That must have been a tough statement for her to make. It shaped my desire to be financially independent when I grew up. (By the way, she didn't leave and she and my dad worked out their issues. Ironically, he died young and left her all his money.)

As I was building my career, I sometimes stayed in jobs that made me miserable because they paid well. Of course, I still have days when I would trade in entrepreneurship for a steady paycheck. But I opted to choose freedom over a big bank balance.

But enough about memories of my youth. They are only relevant because they do play a role in how I perceive saving and spending as a grown woman.

As you think about investing this month, take a few minutes to ponder your own relationship with money (digital, paper, coins, and other forms of currency).

As I often say:

"It's all about the Benjaminas!"

How we earn it, save it, and spend it are all a part of who we are. We need to overcome our shame and talk honestly and openly about money issues.

I've heard women entrepreneurs or corporate executives disparage or gossip about other women who are running small-scale ventures. Perhaps they've chosen to stay small so that they can make time for family, hobbies, or other passions outside of work. We need to stop that judging.

Retail therapy is often a pattern for women who feel they are missing something in their lives. This survey points out the pattern of women hiding their spending from partners.

In addition to learning about investing this month, let's all commit to talking more openly about money, our issues around it, and how we can make enough of it to enjoy our lives.

By overcoming our shame, we can begin that dialogue.

And that will make our lives richer!


Have a perspective on money that you'd like to share this month? We're always looking for great contributions to this page! Please contact us!

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