Tammy Lally, an author, speaks on the topic of money shame – an often unaddressed issue that affects many people’s mental health and financial behaviors.
She emphasizes the importance of open conversations about money and breaking free from associating self-worth with financial status.
Understanding money shame
Money shame is a pervasive issue, defined as associating one’s self-worth with their financial status.
This includes bank account balances, debts, possessions, and job titles.
This condition affects a wide range of people, irrespective of their income, leading to self-destructive financial behaviors and feelings of unworthiness.
We have to start having this conversation. Money can no longer be a taboo topic. – Tammy Lally
Importance of open conversations about money
Transparent and honest discussions about money are critical in overcoming money shame.
Acknowledging and addressing personal financial problems are key steps in this process.
Such conversations can help in understanding personal beliefs and attitudes towards money, which in turn can aid in resolving issues.
