The Stupid Things We Women Do by Kim Kiyosaki

The Stupid Things We Women Do

It’s 2020! Stop depending on a man for money and take control of your life

Have you ever noticed how money can make people do really stupid things? Take lottery winners and those who come into a substantial inheritance, for instance —studies show that about 70 percent of people who suddenly receive a windfall of cash will lose it within a few years.

Why?

They likely had no financial education, and end up making stupid purchases while simultaneously allowing long-lost friends and family members to suck them dry. Without being proactive and taking control of their newfound fortune, they quickly mismanaged their money.

As much as it pains me to say this, another segment of the population I’ve witnessed time and time again doing some ridiculously foolish things with money are women. Now don’t get me wrong, I’m not saying women are stupid — nothing could be further from the truth.

But whether due to a lack of financial literacy or fear, some women make terrible financial decisions. Here’s a list of the common behaviors I’ve noticed:

  • We marry for money.

  • We stay in bad marriages or relationships because we’re afraid we can’t make it (financially) on our own.

  • We let men make all our key financial decisions.

  • We blindly accept the myth that men are better with money or investing.

  • We don’t challenge a man’s financial decisions because we don’t want to bruise his ego.

  • We take financial advice from “experts” because we don’t think we’re smart enough.

  • We settle for “OK” in life when what we really want is “Great.”

  • We sell ourselves short.

  • We put up with inequalities on the job, just for a paycheck.

  • We often look to the future and think, “Someday …”

Have you ever been guilty of any of these thoughts or behaviors? I think most of us have, at one time or another. And it all comes down to not taking control of your own financial well-being. The bottom line is that many of us will blindly sell our souls in the name of money. But the real crime is the toll it takes on our self-esteem, our confidence, and our self-worth. Ladies, we deserve more. You must take control of your life.

It’s one of the issues that prompted me to write my book “Rich Woman” — yes, it’s about women and investing, but it’s also about women taking control of their lives. It’s about dignity and self-respect. It’s about achieving financial independence.

Taking control: Don’t wait for your wakeup call

Are you dependent on your spouse or the government to support you financially? You’re not alone. Throughout history, women have been taught to be financially dependent on someone else — in fact, it was an actual expectation. But times have changed. In today’s modern society, that is a very dangerous position in which to put yourself.

“Women are more likely to rely on Social Security because they have fewer alternative sources of income, often outlive their husbands, and are more likely to be left to rear children when their husbands die or become disabled,” states The Institute for Women’s Policy Research.

Unfortunately, women who avoid taking control and rely on others for their financial well-being are often in for a rude awakening when something bad happens — it’s only then that they realize they have no knowledge of what’s going on with their money or how to avoid financial ruin.

Don’t think it will happen to you? Well, maybe some of these wake-up calls sound familiar:

You’ve heard it before. The husband runs off with another woman, leaving a 20-year marriage in the dust and a stunned wife who doesn’t know what to do because she’s never had to work and has no nest egg of her own.

On the flip side, there are plenty of women who stay trapped in miserable marriages because of money. Women with young children, in particular, may find it difficult to support themselves and their children should they choose a divorce. Plus, their ex-husband may be unwilling or unable to provide the financial support they’re accustomed to. It’s a risk they aren’t willing to take.

I can’t imagine being hitched to someone that you really don’t want to be married to. But we all know women who are suffering through their marriages every single day.

A major illness with parents, in-laws, children and other family-members can strike when you least expect it. You may have no choice but to stop working in order to be a caregiver. Funds can run out quickly, and with no income and increasing medical costs (in addition to all of your regular bills), you can find yourself in a bad financial situation — fast.

Starting to worry? Well don’t…

Women, this is your Rising Time, because this is a time for women to step up!

You may be facing a wake-up call right now with workforce issues, rocky marriages due to money problems, husbands losing their jobs, and more. If not, it may be just a matter of time before one of these catastrophes strikes.

Many of us were taught to depend on someone else for our financial well-being. But this has to stop. Now is the time to really take a leap and take control of your life. And many women are already doing just that.

According to Hanna Rosin, author of “The End of Men and the Rise of Women", it’s because of our families and our drive: “Women are the ones with the children at home and they’ve got to make things work so they make them work. Also, women have been marginalized and are still, to some extent, marginalized and paid less, so they have the hustle and drive of being marginalized. The good news is that there is more opportunity for women.”

Making a choice and taking action now

Money can enslave a woman, and money can set a woman free — and I want all women to be free. What it does to a woman’s self-esteem to be dependent on someone else for money, in my world, is not a pretty picture. I want to encourage women to step up and do what it takes to achieve financial freedom.

If you want to avoid having a wake-up call, start looking at your finances now. Do you know where you are financially today? If not, look at your bank accounts and your invoices and figure out your assets and liabilities. If you don’t know how to do that, ask a friend, look up the information online and start your financial education.

Do not be a statistic.

The whole purpose of being financially educated is to be prepared for whatever happens in life. And in this economy, financial education is more important than ever. It’s up to you to take control of your life, because no one is going to do it for you.

Stop waiting to make money a priority. Wake up, women!

So what is your ultimate decision? Do you seek financial independence and want to make your own dreams come true? Or do you seek financial dependence and want to just sit around and hope for the best? It’s a conscious choice, and one every woman must decide for herself. If you choose financial dependence, then just know that you are essentially agreeing to allow someone else to be responsible for your financial well-being — and you’ll have to accept the good and bad consequences that go along with that decision.

If, on the other hand, your choice is to take control of your life and gain financial independence, then you are choosing long-term freedom over short-term comfort. Yes, you’re choosing the harder road upfront. But, in exchange for that hard work, you’ll have an easier, more rewarding life in the future.

I have no doubt that any woman who truly commits to taking control of her own financial future will succeed — women are doing it every day! So, which road will you choose?

You’ve heard it before. The husband runs off with another woman, leaving a 20-year marriage in the dust and a stunned wife who doesn’t know what to do because she’s never had to work and has no nest egg of her own.

On the flip side, there are plenty of women who stay trapped in miserable marriages because of money. Women with young children, in particular, may find it difficult to support themselves and their children should they choose a divorce. Plus, their ex-husband may be unwilling or unable to provide the financial support they’re accustomed to. It’s a risk they aren’t willing to take.

I can’t imagine being hitched to someone that you really don’t want to be married to. But we all know women who are suffering through their marriages every single day.

  1. Divorce

    You’ve heard it before. The husband runs off with another woman, leaving a 20-year marriage in the dust and a stunned wife who doesn’t know what to do because she’s never had to work and has no nest egg of her own.

  2. Job layoffs

    Today, many people are dealing with job layoffs, and this is affecting the roles men and women play in America. So many mothers are no longer full-time housewives, but working demanding jobs to help pay the bills and provide for their families. If the man is the only “breadwinner” in the family, and he suddenly loses his job, what happens? Who’s paying the bills? This can be a major wake-up call for the entire family.

  3. An illness

    A major illness with parents, in-laws, children and other family-members can strike when you least expect it. You may have no choice but to stop working in order to be a caregiver. Funds can run out quickly, and with no income and increasing medical costs (in addition to all of your regular bills), you can find yourself in a bad financial situation — fast.

Starting to worry? Well don’t…

Women, this is your Rising Time, because this is a time for women to step up!

You may be facing a wake-up call right now with workforce issues, rocky marriages due to money problems, husbands losing their jobs, and more. If not, it may be just a matter of time before one of these catastrophes strikes.

Many of us were taught to depend on someone else for our financial well-being. But this has to stop. Now is the time to really take a leap and take control of your life. And many women are already doing just that.

According to Hanna Rosin, author of “The End of Men and the Rise of Women", it’s because of our families and our drive: “Women are the ones with the children at home and they’ve got to make things work so they make them work. Also, women have been marginalized and are still, to some extent, marginalized and paid less, so they have the hustle and drive of being marginalized. The good news is that there is more opportunity for women.”

Making a choice and taking action now

Money can enslave a woman, and money can set a woman free — and I want all women to be free. What it does to a woman’s self-esteem to be dependent on someone else for money, in my world, is not a pretty picture. I want to encourage women to step up and do what it takes to achieve financial freedom.

If you want to avoid having a wake-up call, start looking at your finances now. Do you know where you are financially today? If not, look at your bank accounts and your invoices and figure out your assets and liabilities. If you don’t know how to do that, ask a friend, look up the information online and start your financial education.

Do not be a statistic.

The whole purpose of being financially educated is to be prepared for whatever happens in life. And in this economy, financial education is more important than ever. It’s up to you to take control of your life, because no one is going to do it for you.

Stop waiting to make money a priority. Wake up, women!

So what is your ultimate decision? Do you seek financial independence and want to make your own dreams come true? Or do you seek financial dependence and want to just sit around and hope for the best? It’s a conscious choice, and one every woman must decide for herself. If you choose financial dependence, then just know that you are essentially agreeing to allow someone else to be responsible for your financial well-being — and you’ll have to accept the good and bad consequences that go along with that decision.

If, on the other hand, your choice is to take control of your life and gain financial independence, then you are choosing long-term freedom over short-term comfort. Yes, you’re choosing the harder road upfront. But, in exchange for that hard work, you’ll have an easier, more rewarding life in the future.

I have no doubt that any woman who truly commits to taking control of her own financial future will succeed — women are doing it every day! So, which road will you choose?

Original publish date: October 25, 2018