Moms Of Faith

Money Talk Monday~Money Myths Revealed

Posted on: January 18, 2009


Last week we started talking about how we, as women, have such a hard time realizing our financial dreams and that most of it stems from our conditioning as children.  Let’s start today by discussing a few of the myths we have been led to believe since childhood.

  • It is ingrained in our brains from a very young age to be a “good girl”.  Instead of pushing us to be the best, or to go into careers that would make us wealthy, we are pushed to “do good” and go into helping careers like teaching so we can be home when our children are.  Don’t get me wrong, teaching is a noble profession, one of my better friends is a teacher, but let’s face it she probably isn’t going to get rich teaching Kindergarten.
  • We are taught that money is power and that we shouldn’t want to be “powerful”, but instead we are taught to be “nice”.
  • We are conditioned from a very young age (some of us from birth) to be caretakers and nurturers, but not necessarily the breadwinners or the executives.

As if being brought up to believe that all we were meant for is to be a “good girl” were enough, we, as mothers, are faced with stereotypes and personality traits that make it still more difficult for us to become independently wealthy.

  • Even if we were in a high-powered position before pregnancy, many women decide to reduce the workload or come home for a while after their children are born.  Afterward, when they decide regain that responsibility or go back to work many find they have been put on what is called “the mommy track” with reduced responsibilities and pay scales.
  • Our natural born instincts are to take care of our husbands and children first and this often leads to our forgoing any investing for our futures. Men on the other hand are far more likely to invest and save for their retirement first.
  • Many women find it difficult to ask for raises, perks, or even the wage they deserve because they aren’t sure they DO deserve it, have been raised not to speak up for themselves, or don’t know how to approach such subjects.  This is something we must change, we must learn to speak up for ourselves and ask for what we deserve. If we don’t who will? Certainly not the man in the office next to us or vying for our position and certainly not our bosses.

So ladies (notice I did NOT call you girls), Why are you not rich? What is holding you back? What choices have you made in your life that has prevented you from becoming independently wealthy? Have you been told these myths or others? Share with us. Tell us your story. We’re here to listen and to learn for each other.

I will answer my own question. I am not wealthy at 26 because I chose to drop out of college, get married and start a family.  Don’t mistake me, I do NOT regret any of these choices, except maybe the dropping out of college, I am simply sharing what choices I made in my life that have thus far prevented me from becoming independently wealthy.

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Be sure to check out, Project Buzz Butter and the Featured Mom-business, DPK-Virtual Assistants at the top of the blog.

To learn more about becoming independently wealthy women, check out Nice Girls Don’t Get Rich : 75 Avoidable Mistakes Women Make with Money.


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