Tell Us
Need to vent? Share your money issues, regrets, struggles or mistakes at
Ask Us
Got a question for Heather? Ask her anything at

Breaking the 3 Chains: Unshackling Women from the Financial Stereotypes that Sabotage Their Wealth

Heather Pulier
Download pdf

The financial landscape often seems like a complex, intimidating maze for many women, with obstacles and pitfalls. But it doesn’t have to be that way. Women are not merely passive participants in the financial realm; they are shapers, movers, and conquerors. And they can own it.

In many conversations about money, women say, “I wish I had known.” I said it too. We need to be proactive, not reactive, about our financial education. Here, we'll explore the three common financial mistakes women often make and how we can break free from them. But more importantly, we'll meet three remarkable women who turned these obstacles into opportunities, empowering themselves and others.

The 3 Common Mistakes

1. Not Being Proactive About Financial Education:

Knowledge is power. And yet, women often lag in financial education. This gap isn't a sign of inability but is often a result of societal norms and lack of access to resources. We must strive to understand personal finance, budgeting, investing, and planning for our financial future.

2. Avoiding Negotiation and Undervaluing Ourselves:

Negotiating salaries and asking for what we deserve shouldn’t be an exception but a rule. We need to recognize our worth and fight for fair compensation. It’s not just about money; it's about self-respect.

3. Prioritizing Others' Needs Over Our Financial Well-Being:

While caregiving is noble and necessary, it should not come at the expense of our financial stability. Balance is key. We must find ways to care for our loved ones without neglecting our financial well-being.

Their Stories

Maya: Maya grew up believing that finances were a man's responsibility. As a software engineer, she felt disconnected between her technological prowess and financial uncertainty. It took courage, but Maya decided to educate herself about money, investments, and financial planning. Now, she stands as a confident investor, shaping her financial destiny.

Priya: Priya’s family viewed talking about money as impolite, a belief that followed her into the professional world. After discovering that her male colleagues were earning more, Priya found her voice. She learned to negotiate, not just for a fair salary but for her self-worth. Her story is a testament to the importance of advocating for ourselves.

Sofia: Sofia’s dedication to her children was boundless. But as a single mother, she faced retirement with inadequate savings. She realized that love for her children and personal financial goals were not mutually exclusive. Sofia learned to balance caregiving and financial planning, demonstrating that it's never too late to take control of our financial futures.

Now What 

Women have the power to rewrite their financial stories. The journeys of Maya, Priya, and Sofia remind us that we can overcome societal norms, biases, and our own fears. We can build wealth and financial security by being proactive, valuing ourselves, and balancing our responsibilities.

Let's empower ourselves with knowledge, negotiate confidently, and prioritize our well-being without guilt. These are not just financial decisions but affirm our strength, intelligence, and independence. Let’s break these chains and embrace our financial freedom.

The Facts and Figures

The stories of Maya, Priya, and Sofia aren't isolated cases. Studies and statistics provide evidence that these are common challenges faced by women:

On Financial Education:

A 2020 study found that women, especially young women and those with lower incomes, consistently scored lower on financial literacy tests (Source: TIAA Institute).

On Negotiation:

60% of the time, women asked for lower salaries than men for the same role at the same company (Source: Hired). 68% of women accepted the salary they were offered without negotiating, compared to 52% of men (Source: Glassdoor).

On Prioritizing Others:

Women are 80% more likely to be impoverished in retirement, often due to caregiving roles (Source: NIRS). 6 in 10 caregivers are women, providing care for longer durations (Source: AARP).

On Caretaking Roles:

85% of women and 67% of men have taken time off work for caregiving (Source: National Partnership for Women & Families). Women's wages decrease by 4% for every year off from work for caregiving (Source: National Bureau of Economic Research). Women make up 62% of workers earning the federal minimum wage or less (Source: National Women's Law Center). The pandemic has seen women's labor force participation rate fall to its lowest since 1988 (Source: U.S. Census Bureau).