The Hidden Dangers of Keeping Your Head in the Sand About Money
In today’s world, it is more important than ever that women take control of their personal finances. From the gender wage gap to societal expectations and caregiving responsibilities, we face unique challenges that can impact our financial well-being - both now and in retirement. Yet, we still find ourselves avoiding or neglecting our money. We often prefer to keep our head in the sand than figure out what our current financial situation actually looks like. However, if we can acknowledge that even though these external factors exist, we are here to take the necessary steps to gain financial literacy and empower change for ourselves.
I know firsthand the danger of ignoring my money and refusing to become engaged in the family finances. I spent years dreading the mail because I was worried there would only be bills and I had no idea how (or if) I would be able to pay them. My heart would sink when the phone rang because I worried it was going to be another call from Visa or MC looking for payment. Those were dark days.
The breaking point for me occurred one Friday evening when I looked out the window and our water was being turned off. It was humiliating and I felt like such a failure. But it was also a very good thing because it made me realize that something had to change. And that something had to be me.
I had to get my head out of the sand and take personal responsibility. I knew that meant taking action and improving my knowledge. I sat down and made a pros and cons list about what playing ostrich with my finances is costing me. I don’t have that exact document and much of it was probably rubbish. So I’ve created this new pros and cons blueprint for you.
Pros and Cons Blueprint to Get Your Head Out of the Sand Regarding Your Personal Finances
Each of us has our own unique relationship with money. If up until now, yours has been to ignore your money completely, hopefully this will encourage you to take steps to get on top of your personal finances.
It is possible to achieve financial independence, advance your career, build a successful business, build generational wealth and develop a healthy retirement portfolio. By actively engaging in financial management, we can take control of our financial future, make informed decisions, pursue our dreams, and support the causes we love. We can pave the way for a more equitable (and prosperous!) future for ourselves, our families and our communities.
It all begins with the simple action of looking at your own personal financial situation and deciding to be a proactive participant in your own finances.
PS: Ostriches don't really bury their heads in the sand. It's a myth. They do lay their eggs in a hole in the ground and can be seen peering in the check on their nests. We need to bust so many myths about women and money.
photograph credit: Jan Ludwig Tiedemann
