Is It Selfish to Care About Money? Why Women Are Rethinking Wealth

Article Summary

• Older generations may have shied away from conversations about finances, but younger generations are getting more comfortable with it.
• Women should consider reframing traditional taboos related to financial discussions so they do not miss out on opportunities that could lead to improved financial security.
• Even if some women lack confidence about financial discussions, an entire industry of professionals is available to offer support and guidance

Is It Selfish To Care About Money? Why Women Are Rethinking Wealth

There is an old adage that insists money, sex and politics are topics of conversation that are absolutely off limits. They are just too dicey. Younger females are apparently dismissing those rules.

Industry data and surveys indicate Gen Z and Millennial women are disregarding that long-held advice and diving into conversations about money, with an understanding that those conversations could pay off. In fact, younger females view these conversations as vehicles for financial empowerment for women.

While it is never easy to shed long-held beliefs, especially those linked to social norms, a shift in the money mindset for women could be beneficial. After all, topics that are not talked about ultimately do not get the attention they deserve.

A Conversation About Financial Independence For Women

It is common for women to shy away from conversations about money, wealth or finances out of guilt, shame, discomfort or a lack of confidence about the subjects. However, many of those barriers may only be internally held beliefs. Traditional gender roles and social conditioning have reinforced a belief system that talking about money or wealth is considered impolite or self-absorbed. 

There is one other old adage that could help move these conversations forward, and that phrase is “practice makes perfect.” Although nothing is truly ever perfect, gradually engaging in more conversations centered on finances makes those conversations easier to have. When they are easier to have, it can become easier to build a plan that aligns with your goals. 

For example, if a woman has a habit of prioritizing saving over investing, a conversation around those pros and cons could reveal new opportunities. The same can be said for salary negotiations, inheritance and retirement planning. Most women have a vision for how they would like their lives to unfold. Talking about that vision, and finding comfort in the financial aspect of it can help bring that vision into focus.

Beyond long-term planning, discussions about finances can support short-term lifestyle needs. From day-to-day expenses to supporting the needs of your family to finding a palatable work-life balance, money is a tool that can be used to create the life you want or need for any given season.

The Road To Financial Independence For Women

Responsibly planning for the short-term and long-term realities of life makes a whole lot of sense. It even makes sense if you are not confident about your knowledge of what it takes to build wealth or invest for the future. There is an entire industry of professionals who are dedicated to guiding others through that journey.

At Svvy®, we want to see women succeed. That is why we offer a service that matches women with female-vetted financial advisors. Because they are female-vetted financial experts, they have an understanding of the unique journeys and challenges women face throughout their lives. Our advisor matching quiz, available on our website, helps you find a match that is right for you.If you are ready to have conversations about finances and would like to be connected with a female-vetted expert, get matched with a Svvy® expert today.

Disclosure:This content is provided for general educational purposes only and does not constitute individualized investment, legal, or tax advice. Svvy® acts solely as a solicitor and connects and matches individuals with independent third-party financial professionals through a quiz-based matching process on the Svvy® Network. Matching is based on information provided through Svvy’s platform and does not constitute any advice. Any advice, recommendations, and services are provided only by the independent professional you choose to engage.