How Women Hold Themselves Back Financially – and How to Change It – By Lesley Thomas

Many women unknowingly sabotage their financial success. Whether it is avoiding money conversations, undercharging for their work, or feeling undeserving of wealth, these patterns create financial limitations that can last a lifetime. The good news is that financial confidence can be built and small shifts in mindset and actions can lead to long-term empowerment.

Avoiding Money Conversations

One of the most common ways women hold themselves back financially is by avoiding money conversations. Discussing finances can feel uncomfortable, whether it’s negotiating a salary, setting pricing in business, or having open discussions with a partner about household expenses. Many women worry about being seen as greedy, demanding, or uninformed, leading them to sidestep these crucial conversations. However avoiding money discussions often results in missed opportunities, financial insecurity and a reliance on others to make financial decisions.

Undercharging and Over-giving

Another major challenge is the tendency to undercharge and over-give. Women frequently undervalue their work, whether in employment, freelancing, or business. Many feel guilty about charging for the value of what their results bring or fear that increasing their prices will push clients away. As a result, they end up working harder for less, often feeling exhausted and financially strained. This pattern can be particularly damaging in business, where underpricing services not only impacts personal finances but also diminishes perceived value in the marketplace. Recognising the value of your skills and contributions is a crucial step toward financial confidence.

Lack of Financial Boundaries

A lack of financial boundaries is another issue that keeps many women from reaching their financial potential. It is common for women to put others’ financial needs ahead of their own—whether that means lending money they cannot afford t, covering expenses for family members, or feeling pressured into spending to keep up with social expectations. This can result in financial strain, resentment and an ongoing cycle of prioritising others while neglecting personal financial well-being. Learning to set firm financial boundaries is essential in breaking this cycle and creating a more secure financial future.

Fear of Investing and Wealth-Building

Fear of investing and wealth-building also holds many women back. The financial industry has long been dominated by men and many women feel underprepared or intimidated by investing. As a result, they keep their money in low-interest savings accounts rather than making it work for them through smart investments. A lack of financial education further fuels this hesitation, making investing seem riskier than it is. However, financial literacy is empowering and understanding how to grow wealth can open doors to financial independence and security.

Steps to Overcome Financial Barriers

Overcoming these financial barriers begins with awareness and action. Talking about money should not be seen as a taboo topic but as an important step in financial growth. Normalising financial conversations with trusted friends, mentors, or professionals can build confidence and provide valuable insights. A shift in mindset is also necessary, seeing money as a tool rather than a source of stress helps change the way financial decisions are approached.

Knowing Your Value

Understanding personal worth is another key factor in financial empowerment. Whether in a career or business, women must be willing to charge what they deserve and advocate for fair compensation. Researching industry pay rates, learning negotiation skills and confidently stating one’s value can make a significant difference in long-term earnings. Similarly, setting and maintaining financial boundaries is crucial in ensuring that personal financial well-being remains a priority. Saying no to financial obligations that are not sustainable does not mean being selfish, it means being responsible.

Financial Education and Smart Decisions

Financial literacy plays a fundamental role in overcoming financial self-sabotage. Educating yourself about money management, investing and wealth-building can remove the fear and uncertainty around finances. Simple steps such as tracking spending, automating savings and setting financial goals can create long-term security and stability. Taking control of finances does not require perfection, just consistent and informed decisions that support financial well-being.

Final Thoughts

Women are more than capable of achieving financial success, but we must first recognise and break the patterns that hold us back. Money confidence is a skill that can be developed and taking control of money is one of the most empowering actions anyone can take. Reflecting on personal financial habits and making small changes can lead to a more secure and confident financial future. It is time to step into financial empowerment, make intentional choices and create the wealth and stability you deserve.

Lesley Thomas is the founder of The Money Confidence Academy and host of the Let’s Talk Money and More podcast.

For more information visit, www.themoneyconfidenceacdemy.com, to find out more about Lesley, her coaching and resources. Or connect with her on Linkedin 

Tune into the  ‘ Let’s Talk Money and more’ podcast, to hear from Lesley and her guests, talking everything about money, mindset and financial growth.