Financial institutions are finally starting to realize that for women, money is emotional. Women instinctively already know this. But the problem is that but we’ve been made to feel that being emotional is weak. We haven’t felt supported in acknowledging our emotions when it comes to finances.
Increasing self-awareness around our emotions about money will help us take ownership of our financial empowerment.
I’m currently re-reading Barbara Stanny’s Prince Charming Isn’t Coming: How Women Get Smart About Money, which is loaded with brilliant insights into the psychology of money.
“Our state of mind directly affects our course of action – the way we earn, spend, and invest our money. We can never completely separate private emotions from personal finances. Women need to take responsibility of their finances, regardless of emotion. Unless women deal with unconscious attitudes, they will sabotage their success. Women sabotage themselves in many ways like neglecting checkbooks, misplacing financial statements, overdrawing an account, and losing interest in money.”
We women need to do the inner-work of determining what emotions and beliefs we hold around money. Because unless we rule our emotions around money, they will drive our behaviors and keep us stuck or in denial.
For women, true money mastery starts with emotional mastery. Because your state of mind directly affects your money habits.