Mixed Messages about Money

While money itself is something we exchange for something we want or need, there is so much emotion attached to it.

We are taught from a young age to believe that money is the thing that we all need in order to live a happy life. And, while money does enable a more comfortable life, we aren't actually taught about it, and the messages we are fed are often very gender biased.

I listen to a lot of podcasts, and I also read a lot of books about life and money, and there is a theme that runs through a lot of the money "advice" that comes through - particularly from the patriarchy that has typically been "guiding" the information we receive about money. Thankfully that has changed a lot, but the damage is still there.

The advice I'm referring to is a very different message for men and women. This comes through when I have conversations with men about money and women.

Inevitably (and there is some generalisation here) when I speak with my male friends about money they ask me about crypto or about investing strategies and what I think the markets will do.

When I speak with women about money, if they are even comfortable with the topic, it's about how to save money on their grocery bill and how to save for their kids' futures.

At first the difference may seem subtle, but there is a very big difference in the phsyche and corresponding behaviour that accompanies this.

What it comes down to is - men are encouraged to take risks and expand financially, and women are encouraged to save, budget and contract financially.

Now, which mentality is more likely to see financial independence and wealth come as the result?

Expansion!

As you can see I can pretty passionate about this and I am on a mission to help women break this cycle.

That's not to say there isn't validity or even necessity to saving and budgeting. Of course there is. However, this needs to be balanced with a healthy dose of expansion, where women need to understand their risk profile and know enough about investing in order to take control of their financial lives and start to build wealth to become financially independent - regardless of whether or not they are in a relationship, run a business, are in a job. This is universal.

The first step to changing this narrative is awareness.  Tune in to what you are saying, both the voice in your head and what you are actually saying about money.  Reframe the words and language you are using about money.  

Take action and find out more about what investing is (not just share trading or property investing by buying an investment property) - the options out there, and what your risk profile is.  Understand your superannuation - what you are invested in, the fees you are being charged, the performance of your super fund over time, and the amount of insurance you have inside super.

Start there and as you build your knowledge and confidence, build on it.