Liz Weston: Beware the high price of money shame
Liz Weston
The U.S. suicide rate has risen dramatically in recent years, and certified money coach Tammy Lally of Washington, D.C., is convinced money shame is a contributing factor.
Lally’s brother died by suicide in 2007 after receiving a foreclosure notice. Shortly afterward, Lally’s mortgage business collapsed in the Great Recession. She says she went from driving a Mercedes and living in an oceanfront house to filing for bankruptcy.
“It blew me away, the level of pain and sadness that I was experiencing,” Lally says. “I didn’t tell anybody. I was pretending like nothing was going on.”
The high price of money shame
Too often, people feel there s something deeply wrong with them if they struggle with their finances.
By LIZ WESTON
NerdWallet
The U.S. suicide rate has risen dramatically in recent years, and certified money coach Tammy Lally of Washington, D.C., is convinced money shame is a contributing factor.
Lally s brother died by suicide in 2007 after receiving a foreclosure notice. Shortly afterward, Lally s mortgage business collapsed in the Great Recession. She says she went from driving a Mercedes and living in an oceanfront house to filing for bankruptcy.
Dealing with the high price of money shame
Liz Weston
NerdWallet
The U.S. suicide rate has risen dramatically in recent years, and certified money coach Tammy Lally of Washington, D.C., is convinced money shame is a contributing factor.
Lally’s brother died by suicide in 2007 after receiving a foreclosure notice. Shortly afterward, Lally’s mortgage business collapsed in the Great Recession. She says she went from driving a Mercedes and living in an oceanfront house to filing for bankruptcy.
“It blew me away, the level of pain and sadness that I was experiencing,” Lally says. “I didn’t tell anybody. I was pretending like nothing was going on.”
The U.S. suicide rate has risen dramatically in recent years, and certified money coach Tammy Lally of Washington, D.C., is convinced money shame is a contributing factor.
Lallyâs brother died by suicide in 2007 after receiving a foreclosure notice. Shortly afterward, Lallyâs mortgage business collapsed in the Great Recession. She says she went from driving a Mercedes and living in an oceanfront house to filing for bankruptcy.
âIt blew me away, the level of pain and sadness that I was experiencing,â Lally says. âI didnât tell anybody. I was pretending like nothing was going on.â
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