Ladies, Let’s Talk About Money.

Ladies, Let’s Talk About Money

Society often intimates that women are not as adept at earning, investing and mastering money as men are. Unfortunately, having this message repeated over and over again causes us to have mental blocks when it comes to making financial decisions. Ladies, if you cringe or shudder at the very thought of your finances, you need to adjust your perspective. We need to find ways of overcoming these mental hurdles and begin to embrace the power inherent in money.

The first step in taking control of our finances is to try to understand our attitudes and beliefs about money. These beliefs often stem from past experiences, whether negative or positive. For example, for most of us, we grew up socialized to accept that women are more risk-averse and overly cautious, while men are believed to be bolder and more daring when making decisions.

There’s a quote I’ve seen on several blogs that is a play on the title of the book, “Men Are from Mars, Women Are from Venus”; it goes, “Men buy shares from Mars and women have savings account on Venus”. I mean, the quote is quite witty, and it did get a smile out of me, but it is the sort of statement that normalizes the idea of women being meek when it comes to finances. We need to understand the root of all our personal money beliefs and begin to write ourselves new stories.

Once we are aware of our underlying beliefs about money, ladies, we need to learn to take care of ourselves first. This is especially difficult for us, as we are accustomed to helping others before helping ourselves. It is common to find women financially supporting relatives, but not having any savings or investments for their own future. I know it feels almost selfish to say no to others when you do have some money, but you need to think of the bigger picture. You are investing in yourself so that you are better able to take care of others. It's like when you are in an airplane; you are instructed that in the event of an emergency “put your oxygen mask on first, before assisting others”.?You must put your financial house in order before assisting your parents, siblings, spouse or children.

And how do we take care of ourselves?

·????????Empower yourself with all the knowledge you possibly can regarding money. Becoming more confident around money will enable you to take control of your finances.

·????????Be intentional with your financial decisions. Keep track of your spending and make budgeting a habit.

·????????Create a plan. Map out your financial goals and strategize to achieve them. Also, do not be afraid to dream big! You are more capable of achieving great things than you give yourself credit for.

·????????Invest! Please, invest immediately!

·????????Do not be afraid to ask for help. We sometimes suffer in silence for fear of burdening others with our problems. Remember, A problem shared is a problem halved.

For several reasons, women face additional hurdles when it comes to achieving financial freedom. Pay gaps, cultural expectations, pink tax etc. But financial freedom is still achievable – we just have to work a bit harder for it. Financially empowered women are a force that the world needs.

To help you get the ball rolling here are some personal finance questions for you to ponder:

·????????What are some of the past money mistakes I have made and why did I make them?

·????????Is what I’m doing today helping me get closer or further away to financial freedom?

·????????Where do I want to be one year from now financially?

·????????What is my greatest financial challenge right now?

The journey to financial independence is full of challenges, but it is a journey you can begin today. Get your money right, and life’s trials will become that much easier to manoeuvre. To quote the author and U.S. Ambassador, Clare Boothe Luce, “A woman's best protection is a little money of her own.”

Interested in a quick scan of your financial situation? The Square Bracket is now offering a two-hour Financial Check-Up session. Find out more here: https://thesquare-bracket.com/home/financial-check-up/

?

?

?