If you’ve been feeling financially anxious lately, the numbers back you up. A record 55% of Americans say their financial situation is getting worse — higher than during COVID, higher than during the Great Recession — and 67% say they are more afraid of running out of money than they are of dying.
Carrie Joy Grimes hears this every day. As founder and CEO of WorkMoney, she’s in direct conversation with millions of Americans about their money, and she has a lot to say about what we can actually do about it. She recently sat down with Jean Chatzky on the HerMoney podcast to discuss her new book, The Joy of Money: How to Do More With and Feel Better About Your Money — No Matter How Much You Have, and how to curb financial anxiety, no matter what the American economy throws at you.
You Can Learn to Be Good With Money — Even in a Difficult American Economy
Carrie Joy Grimes is a self-made millionaire, and she’s not afraid to share how she got there.
“I was not born with it,” she told Jean. “I thought I was terrible with money. My parents never talked about money with me. I lived in a very gendered household, so my dad was the person who knew about money, and the women — my mom, my sister, myself — we were not supposed to think about money.”
The turning point, she says, was a decision, and then a daily practice. “I decided I was going to be good at it, and then I woke up every single day for a long time, and I would say, ‘You can be good at money. You can be good at money.'” Over time, that mantra shifted: “‘I can be good at money’ became ‘I am good at money.’ And now I get to say, ‘I am very good at money.’ But it was a practice. I learned it.”
That same willingness is what eventually led her to entrepreneurship. After two decades as a union organizer, she discovered something surprising about herself. “I found out that what I am is an entrepreneur. I’m somebody who likes to start things and make them go.”
But none of it would have been possible, she says, without first building a financial cushion. “When I left my job, I could take a risk. I could start something different.” That something different was WorkMoney, which now reaches nine million members.
Women Have a Secret Advantage in This Economy
When it comes to investing, Grimes believes women’s instincts are an asset, not a liability. “Women are on average about forty basis points better than men at investing,” she said, referencing a Fidelity study.
Her own approach reflects this. While her husband spends hours researching crypto and individual stocks, Grimes keeps most of her money in consistent, lower-maintenance investments. “I think about odds versus risk. It’s just a different formula for every person.”
She’s not opposed to a little fun with money, though. “About ten percent of my money is also in what I call my cowboy accounts. I’ll pop off on a stock here or there.” But she’s clear-eyed about the results: “The S&P has really outperformed my individual investment ideas over time.”
When the American Economy Feels Scary, Knowledge Is Your Best Asset
Financial security isn’t about being perfect, having a lot of money to start with, or timing the market just right. It’s about showing up consistently, looking at your mistakes without shame, and making the next move — even when you’re not sure it will pan out.
As Grimes puts it: “The bad news is [the American economy] is as hard as it feels right now. The good news is there are things we can do about it.”
MORE ON HERMONEY:
- Ask Jean: “What’s A CD Ladder?”
- What To Do If You Haven’t Been Able To Save Money For A While
- What Jonathan Clements Taught Us About Money and Life
