Struggling to manage one’s finances is a scary reality for so many low-income families. But money shaming turns this reality into a nightmare! What’s “money shaming?”
Money shaming is a tactic used to blame people for their own poverty. You’ll see it whenever low-income people are criticized for spending what they have on their needs, or spending a bit on something nice, instead of rushing to invest or save.
This is not only harmful and unfair, but the blame is being misdirected!
Money shaming especially blames lower-income Black people instead of the actual culprits: systemic racism and low wages. How are we supposed to achieve financial liberation when we’re constantly shamed for our money choices?
Not having a lot of money doesn’t mean people should only dedicate their finances to bills and an emergency fund.
Financial liberation means spending our money the way we want to, not the way the society is forcing us to. The lack of Black wealth isn’t because we spend recklessly but because our economic system was built by enslaving and stealing from us. Since the system still continues to benefit from this, we of course continue to be negatively impacted.
Money shaming isn’t an effective tool to get people in control of their finances. It casts misplaced judgment and blames the victims of an unfair, capitalist society!