The Biggest Money Mistake Women Make, According to Money Expert Tori Dunlap

What’s the biggest money mistake women make? It’s not being too cautious. It’s not failing to save enough for emergencies or a rainy day. And it is not even waiting too long to begin investing for the future, although these are all serious issues that women often face when it comes to money.

In a recent Instagram video , Tori Dunlap — a money expert and the founder of Her First $100K, a financial education company for women — said the top money mistake that women make is being unselfish with their money.

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Read on to learn why Dunlap said being unselfish is the top money mistake women make .

Money mistakes the super wealthy never make - that you might be doing now.

The Pursuit of Life, Liberty, Happiness and Financial Independence

“The biggest mistake I see women make is being unselfish with their money,” Dunlap said.

Women are often told that “it is wrong, it is morally unethical, it’s tacky, it’s greedy” to pursue greater wealth, she explained. Dunlap offered the example of women negotiating salaries. “Think of anytime you tried to negotiate your salary. You were probably faced with this feeling or literally told you should just be grateful for what you have,” she said. “Men don’t feel this way at all.”

Interestingly, women ask for raises as often as men dom but they don’t receive them in similar numbers, according to a 2022 CNBC survey . Nearly 60% of men receive a raise after a request, while only 52% of women get the same bump in pay.

Dunlap urged her followers to ask for what they want and are worth. “The pursuit of money is not a bad thing. The pursuit of money just means you want options, you want flexibility and you want choice in your life,” she said.

Dunlap explained that when women have money, they also have more options in life. “And when you have options, you’re no longer forced into playing small,” she said.

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How Can Women Get More ‘Selfish’ With Their Money?

On her website, Dunlap said she’s helped women “make more, spend less, and feel financially confident.” She often encourages women to know their worth, let go of shame around money and start investing. She also encourages women to talk more openly and honestly about money, budgeting and emotions around finances. “Money is power, and you are powerful,” she said in a Morningstar interview .

Her bestselling book, “Financial Feminist,” shares tips for becoming financially independent, paying off debt and building wealth. It notes that men and women often receive different financial education, where boys and young men learn about being entrepreneurs and investors, while girls hear messages about couponing and budgeting.

“So, let’s talk about money as it is, not just about a spreadsheet, but actually how do you manage money, how do you grow your wealth, how do you think more strategically about it, and have the same conversations that you’re having with your boys, with your girls,” she said in the Morningstar interview.

Finally, in her post, she let her followers know that being selfish when it comes to money is simply being smart: “I want your goal to be the unabashed pursuit of wealth,” she said.

This article originally appeared on GOBankingRates.com : The Biggest Money Mistake Women Make, According to Money Expert Tori Dunlap