Tag Archives: shame

Women, Money & Shame

Most women I know are pretty excited to show off a new purchase – the fabulous new handbag, a great new pair of shoes, a piece of jewellery or that amazing dress – but when it comes to sharing our true financial status – that’s something that rarely gets a mention!

Being honest about what we have or don’t have, is part of cleaning up our financial lives.

If there’s levels of personal debt that we’re uncomfortable with, it’s not often we speak of it,  Shame tends to come in first place.   When we’re invited out, we’d rather not tell someone we can’t afford that particular restaurant or outing.   At times, our need to fit in is greater than our financial circumstances, and so we lie both to others and ourselves and go anyway, placing ourselves further into debt.

It’s time to own what is the truth. There’s nothing embarrassing about saying, “I’ve put myself on a budget these days, I want to save for a holiday and I’m watching what I spend.”

Have you even got a goal to work on that’s more important than your immediate want to spend?  It’s much easier to say, “I’ve got a trip to Europe lined up, so I don’t want to spend that kind of money.”  “I’m paying off the credit card…”  “I’m trying to get the mortgage down…”

The story we often tell ourselves, is that ‘we can’t afford it.’

It’s actually all about how you choose to spend money. Your friends are highly likely to respect you more and some may even start watching where their money is going too.

You might just start a savings revolution amongst your buddies!  Why not give it a shot?

Build Your Confidence Around Money

Most of us have some insecurities… it could be about how we look, how to act in certain circumstances,  or where to invest.

Usually when we don’t understand something, like why people act a certain way, how to put a great meal together or direct shares, superannuation, our mortgage, taxes or insurance, we can also feel insecure.

People who are good with money often use a particular trait to get past the insecurity… they ask for help.  Understand that you don’t know what you don’t know… and ask an expert.

No shame in that!  All of us excel in certain areas, and just aren’t that hot in others… or even interesting in becoming so!

Do you have a friend who keeps their finger on the pulse with finances, studied accounting or has a finance degree?  Or someone who just really has it together financially with low debt and good income producing assets?  And I don’t mean the cabbie with the hot tip for the races!

Not everyone wants to know, or needs to know how managed funds work, the intricacies of Self-Managed Superannuation or the tax advantages of the Transition to Retirement Strategy.  No shame in that!

So, what do you try and conceal about money that you feel you should know?  Are there areas that you’d like to know more about?  Do you know someone who could help you with this? And you then feel you’d make more informed decisions? Or are you happy ‘outsourcing’ to the professionals?  Often the best option of all!

Build up your own confidence around money with education – read some books, take some online courses or ask someone who’s pretty savvy how they manage.

Education is a great healer for all insecurities!  Try it today.