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Women and Money: Let’s Talk About It

With the current financial market crisis and national anxiety about our economy, I thought it would be appropriate to talk about MONEY.

Along with perhaps many others, I have gone on a big journey with money this year. I started my business, Lotus Blossom Style, exactly one year ago. I was new to owning a business and perhaps a bit green in more ways than one. While on many days I have felt great joy, pleasure, pride, and excitement from starting, growing and nurturing my own business, on other days I have gone through the darker side feeling shame, doubt, confusion, frustration, fear, anxiety, exasperation, you name it… as I watched myself go more and more into debt while trying to get a business off the ground.

Having a heartfelt connection and determination to continue growing my business, I had no choice but to confront issues with money that I have never looked at before.

One of the best things I could have ever done for myself was take a workshop called “The Financial Whisperer” with Pegi Burdick, who I like to call the “wizard of financial emotional intelligence.” The workshop is set up to help women examine and get insight into how they let their past manage their money today. It teaches women how to move forward with strength and confidence. Facing up to my financial challenges was not easy, but it was something that benefited me and continues to benefit me as I move forward.

According to the most recent statistics from the US Labor Department, women over the age of 25 earn 78.7 cents to every man’s dollar AND according to Linda Morgan, financial advisor here in Los Angeles, 80 percent of retired women are not eligible for a pension benefit. Yikes! Since women have lower earnings, lower retirement incomes, and live longer life spans (an average of seven years), women are DEFINITELY the ones who should be talking about money and especially money management!

Growing up in the environment that I did, I never felt it was necessarily “appropriate” to talk about money. No one ever sat me down to teach the birds and bees of finances. As a girl and then as a woman, I was taught to go for my passions, live my dreams. Not manage money. This is something perhaps I should have sought out myself, however I don’t think I even knew enough to do that.

Now that I have found some resources to talk about money as a woman with women, I feel more grounded, stable and more financially emotionally intelligent. As I am preparing for marriage to a most wonderful fellow, I can enter as an equal and not as a “dependent.” Maybe in the long run, as more and more women talk about money and the management of it — women’s financial emotional intelligence will continually increase and we will live in a world with more equality in pay and maybe even a lower divorce rate.

What do you think?

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Tabby Biddle is a writer and editor specializing in helping women entrepreneurs and emerging authors get their message out. Additionally she is the founder of Lotus Blossom Style, a yoga lifestyle company created to support women in their personal transformation. She lives in Santa Monica, CA.

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0 Responses to Women and Money: Let’s Talk About It

  1. Lily September 26, 2008 at 6:13 pm #

    Hi Tabby,

    I read your post today and thought you might find this article that was in
    yesterday’s New York Times interesting. It is about finance and emotions and the counseling that is cropping up to treat issues.

    http://www.nytimes.com/2008/09/25/fashion/25money.html?ref=fashion

  2. Tabby September 26, 2008 at 6:15 pm #

    Thanks Lily!
    I just read it. I guess there really is something going on – since the NY Times writer and I decided to write our articles the same day.

    Thanks for sharing!!!

  3. Rachel September 26, 2008 at 6:20 pm #

    Tabby,
    I wanted to take a moment and thank you for your blog and insight. I read
    your blog religiously every Friday morning as I’m making confirmation calls
    at my office. We met very briefly once at the Ladies Who Launch Live Event
    in Los Angeles. The more I read your blog and was guided through your
    website, the more inspired I have become in my business. I even referred
    you to the owner of Swerve Studio, Gillian Clark where I work part-time
    because your philosophy is so in line with who we are at the studio. Thank
    you for letting me get to know you even though we have only had a few
    minutes of personal encounter. I have complete faith your business and the
    success that you will continue to have in the years to come.

  4. Tabby September 26, 2008 at 6:24 pm #

    Rachel,
    What a beautiful note!
    I am so happy to hear that the blog and Lotus Blossom Style have inspired you in your business. I think we are all here to inspire one another and I look forward to learning more about your business!

    Thank you for the feedback and support. It means a lot.

    T

  5. Bettina September 26, 2008 at 6:29 pm #

    Thanks for emailing, love your blogs, thinking similar , we need change!, first time
    (after Clinton) I understand a politician and feel, this is right.
    Anyway, check out my sites, maybe you like to blog about what I do: http://www.spacesandlight.com

  6. Tabby September 26, 2008 at 6:33 pm #

    Thanks Bettina for writing in.

    I just checked out your website and love the work that you do. Chakras, auras, biofeedback. I love to learn more and more about this.

    I’d like to write about these types of therapies/sciences sometime soon.
    Thanks for the inspiration!

    Tabby

  7. Gary September 26, 2008 at 6:36 pm #

    I really enjoy your blog, keep up the good work!!

    Best,
    Gary

  8. Beverly September 26, 2008 at 6:39 pm #

    I love what you have to say. this is brilliant!

    Go girl. I feel like I was reading my own thoughts. and I totally love Durga!

  9. Chris September 26, 2008 at 6:59 pm #

    louise hay has a great CD on prosperity and i think about that with me with
    regards to “time” & time management

    because she relates prosperity to many things– time, money, love, etc…
    (need to listen to that one again)

    t harv eaker says we relate to money as our parents did in our childhood
    and we need to break that cycle if there was a lot of fear and anxiety around
    money

  10. Bita September 28, 2008 at 10:01 pm #

    Beautifully said as always,Tabby.

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