By Dr. Sinclair N. Grey III
When people are not financially literate, they will find themselves making poor financial decisions. Can we be honest for a moment and say that money should be a tool to help us make more for a better life? Unfortunately, too many people don’t know how money is valued. In today’s economy, it’s important that everyone knows how money works.
Let’s go a step further. When people are engaged in relationships, money is always a topic that many don’t like to discuss. While there are many reasons for this lack of communication, without becoming financially literate, one may find themselves broke, busted, and disgusted. Sadly, many women find themselves losing out financially after a relationship dissolves because they simply didn’t know what to do with their finances.
Actress Kerry Washington was a guest panelist last week at the Forbes Women Summit. Her focus was centered around women becoming financially literate.
As an ambassador for Allstate Purple Purse, Washington is dedicated to making an effort to help women who are victims of domestic abuse understand their finances.
Washington says, “I think a big part of it is lifting the veil of shame. A lot of times we say, why does she stay? Why do they stay? We know from our work that the number-one reason people stay is because they don’t feel like they have the tools to go. And all of us, rather than shaming and blaming, can use our resources to lend a hand to people who don’t have access to that information to be able to transform their lives,” according to Madamenoire.
She also added, “I know how disempowering it can feel to not feel financially literate. Sometimes, as women, we just don’t want to be involved in the details and don’t want to ask the questions. And because it’s not something that we’re necessarily taught, we’re not sure if it’s something we should know. Abuse is a multi-layered issue, so there are obviously sociological and psychological issues that need to be addressed, but when you can at least give a woman the tools to walk away, then you can start to do that bigger work.”
Dr. Sinclair N. Grey III is a speaker, author, and success coach. Contact him at www.sinclairgrey.org firstname.lastname@example.org or on Twitter @drsinclairgrey.org