In this economy, it’s not just ordinary people who are cutting back (orthinking they ought to). In January, newspapers reported that tennis star Serena Williams, who has won more than twenty million dollars in prize money, is forgoing her famous shopping sprees. An extravagant spender in the past, Williams has remarked that there’ll be lots less bling this year. As the financial crisis deepens, she sees the appropriateness of restraint: “I won’t be going out there just throwing my dollar bills everywhere.”
Carrie Rattle is a Principal at BehavioralCents.com, a website for women focused on mind and money behaviors. She has worked in the financial services industry for 20+ years and hopes to inspire women to better prepare themselves for financial independence.