The Money Savvy Mommy: Don’t Lose Sleep Over It

by Mira Reverente

Women tend to lose sleep more than men, over money worries.

Women tend to lose sleep more than men, over money worries.

Women count dollar signs instead of sheep in order to fall asleep. True?

A recent poll commissioned by creditcards.com revealed that women lose sleep over money more than men do. In fact, 68 percent of female respondents reported losing sleep over financial worries compared to only 56 percent of male respondents. The top three financial stressors were retirement, educational expenses and healthcare or insurance bills.

Women are born worriers. We worry about money, our kids, our spouses, our parents, our careers, our neighbors’ kids, and so on and so forth. So we lose sleep over everything, not just money.

I am a third generation worrier. I got it from my 93-year-old grandma who worries about everything. When I told her my daughter started running, her first question was, “Aren’t you worried running is going to stunt her growth?” My mom worries slightly less but will also ask me questions along those same lines. When my kids were little, she said she worried that someone might grab my kids in the park. I reassured her by saying that I always watch them like a hawk, and I always take them to the bathroom with me.

By telling my mom what my intentions were, I reassured her. By coming up with an action plan, I put her worries to rest.

To reduce anxiety, come up with your own action plan when it comes to your money:

  • Write it down. Putting your worries on paper will help you strategize and prioritize instead of just thinking about it.
  • Review your budget. If you are worried about debt or savings, take stock of your spending. Distinguish between needs and wants.
  • Talk it over with someone you trust. It could be your spouse, your CPA or a financial advisor. If retirement is a concern, bring it up and ask for input on how to assuage your worries. If you need to put in more in order to retire more comfortably, figure out how to get there.
  • Know your personal and financial goals. A former boss once said, “A goal is just a wish you put on paper.” Having clear goals gets you from point A to point B. Not having goals means you’re hovering between the two points indefinitely.
  • Find a partner with the same financial values. You could be a saver and he might be a spender. There’s a stressor right there. Align yourself with a life partner who values money the same way you do, who’s willing to work towards the same financial goals as you.

Meantime, try not to lose sleep over it.

Mira Reverente is associate editor of CVH and a longtime journalist whose work has appeared in many local publications. Her first book on money came out last fall. Follow her on Facebook, Instagram and Twitter, for more money savviness tips or check out her new blog. 


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