Money is one of the most emotionally charged topics. It is my experience to learn that everyone has a history of money which is usually defined in our childhood, and we carry that history with us consciously or unconsciously.
Women and money tend to get a bad rap because there are a lot of myths over there around women and money.
It is important to have a positive relationship with money so that you can see money for what it is. Money is a tool that helps you acquire things that you need or want.
However, there are many emotions and conditions associated with money. Money can elevate your status, money offers security, having money can boost your confidence, and the list goes on.
If you’ve been told you’re not good at money, grew up in a house where money was a constant source of stress, or you’re in debt and have no hope of yourself coming out of it, these experiences can arouse negative feelings around you. money. This negativity around money can cause you to get stuck where you are, whether it’s debt or mismanaging your finances.
Therefore, state of mind plays an important role in your money management skills. When you have a growth mindset, you can step away from the current state of your finances and grow your wealth.
Money management is an essential skill not only for women, but for all of us. It is important to invest time in learning this skill so that you lead a financially abundant life.
Here are some myths about money that you may have been led to believe, but which are completely wrong:
1. Women are not good at managing their money
Contrary to popular belief, on average, 89% of women worldwide said they control or share their daily shopping needs, compared to only 41% of men. Women manage household budgets and the financial burden rests on their shoulders.
2. Women spend too much money
Society and advertising lead us to believe that women spend all their money on clothes and shoes, leaving very little for most. This is a false message. Women spend more than men on clothing, according to Smart asset, a financial technology company. But men spend more on other things, like takeout, and, depending on the Bureau of Labor Statistics, alcohol and cars. Single men spend a little more, but that may also be because they earn more for a dollar than women.
3. Women don’t want to know more about money
There have never been more books for women, written by women, that discuss the importance of women understanding how to manage their money. Women want to learn, and there are also a growing number of online resources that aim to educate women about money management, investing money, and building personal wealth.
The bottom line is that women and money are a vital subject for the growth of the economy. When more women are working, the economy is growing. The more money women have to reinvest in the economy, the bigger the economy.