When it comes to talking about your business, you’re probably more comfortable with some topics than others. And chances are one of the topics you’d rather avoid is money.

I get it — money feels like a taboo topic to me, too. I’m very comfortable talking about my business, but getting into the financial details is still a challenge for me.

But I also believe that small business owners — especially women — need to overcome that discomfort and get better at talking openly about money. Keeping this topic in the dark limits our success and makes it more difficult to run our businesses effectively.

So let’s dive into this challenging topic and discover the benefits of being willing to talk about money.

Why it’s hard to talk about money

If you find it stressful to talk about finances, you’re not alone. It’s an uncomfortable topic for many people, especially women. In fact, one study shows that only 31% of women are comfortable discussing their personal finances — but 61% of men are OK with it!

There are countless reasons for this. Men have historically had more access to wealth and the societal “permission” to earn and spend it.

Women weren’t allowed to open their own bank accounts, get credit cards, or sign loan documents on their own until just a few decades ago. It’s no wonder that many women still feel like money is a taboo topic!

Negative money mindsets impact confidence

If you aren’t comfortable talking about money, you might also feel worried or stressed about managing your finances. That might be because you have some negative money mindsets!

Again, it’s a common issue, especially for women. Many of us grew up hearing negative messages about money:

• Money doesn’t grow on trees.
• Don’t be wasteful — there are starving children in other countries.
• It’s not polite to talk about money.
• Leaving the lights on is expensive.
• Be thankful for what you have.
• Women shouldn’t earn more than their husbands.

These are just a few examples — you can probably think of more. If you heard messages like this growing up, financial topics might make you feel ashamed, embarrassed, or even guilty.

Even if you didn’t grow up hearing negative comments about money, the financial messages you receive throughout your life contribute to your current view of finances. That’s why it’s important to identify your thoughts and feelings about money and decide how they align with your values and priorities.

Are you limiting your financial success?

Growing up with those negative financial messages impacted my business. It took years for me to feel comfortable raising my prices and my own salary. Have you ever considered whether your feelings about finances are limiting your success?

I grew up believing that money is finite — if some people don’t have much, it’s because other people have too much. And that idea made it very difficult for me to charge enough when I first started my business. I felt guilty about the idea of “taking” money away from someone else.

Does that sound familiar? I hear this often from other women business owners. And I understand where that guilt comes from.

But that’s not the way things really work. Success doesn’t have to be a zero-sum game. If we run our businesses fairly and provide valuable services to our customers, there’s no shame in charging a fair price for those services!

The benefits of talking about money

Why is it so important to overcome those emotional barriers to talking about finances? Because doing so helps all of us!

Seeing successful women can help us feel more confident in our own value as business owners. Learning that other women are breaking down those patriarchal traditions and building profitable businesses is inspiring.

Having open conversations about financial success helps reduce that stigma — it creates more opportunities for other women to be successful. If you’re willing to honestly share your success, you might inspire another woman to pursue her goal without feeling guilty or embarrassed!

Give yourself permission to talk confidently about money

One of the best ways we can support each other as women entrepreneurs is to overcome the money taboo. When we stop feeling guilty for our success and start talking about it, we can inspire and motivate other women to reach their own financial goals!

That doesn’t necessarily mean you have to release your financial statements on the internet, become a public speaker, or publish a book. You don’t need a huge platform — you can make a difference in your own circle!

Maybe you decide to be more open with your children about the money you make. Or you share your business’s books with your most trusted employees. Maybe you stop shying away from the topic when it comes up with your friends.

Talking confidently about money doesn’t mean you’re greedy or “impolite.” It just means that you’ve decided to be honest about something that has historically been hidden away.

But there’s no reason to feel guilty about your financial success (or failures)! And the more we normalize talking openly about money, the more we can all support each other in reaching our financial goals.

Want to practice talking about your business finances in a safe, supportive environment? Join Fit Biz Foundations. This membership is designed specifically for women with health & wellness businesses.

As a member, you’ll get access to group coaching, expert resources, and a private online community where honest, transparent conversations happen all the time. It’s the guidance and encouragement you need to reach your goals (and stop feeling guilty about your success)! Join Fit Biz Foundations today!