Ramsey Solutions’ Rachel Cruze on Facing Your Money Fears
The Financially Savvy Female had the opportunity to chat with Rachel Cruze, personal finance expert, author of “Know Yourself, Know Your Money” and host of “The Rachel Cruze Show.” Cruze believes that your behavior and beliefs about money can be the biggest obstacles to achieving financial success. Here, we discuss the common fears women have about money and how that can translate into sometimes harmful behavior.
What are some common fears women have about money?
Certain money fears can coordinate with different stages of a woman’s life. For a single woman, I think there’s messages in society that money is a “guys’ thing.” Even in the financial space, I’m one of the rare females that has stepped into personal finance because it feels like a male-dominated industry, from even a working perspective. No matter who you are, male or female, we all have to handle money. It’s important to engage the process, and don’t believe the lies that you’re not good enough.
For married women, there tend to be two camps. One camp, sometimes more in the Christian faith, yield a lot to their husbands when it comes to handling the money. I think that takes an incredible amount of respect and trust, but it’s more important to work as a team. On the flip side, there are some women who have a lot of fear around sharing money with their husband. They’ve been told it’s dangerous to depend on the man.
How can these fears translate to behaviors regarding money?
These fears translated into behaviors can result in financial infidelity and conflict avoidance. The most important thing you can do is step in, lock arms and budget together!
More From GOBankingRates
- 25 Extra Grocery Costs You're Probably Forgetting About
- Women & Money: The Complete Guide
- The 1% Don't Want You to Know About These 5 Investments
- 7 Financial Habits That Improve Your Daily Life
Jaime Catmull contributed to the reporting for this article.