Purse Strings Approved Professional

Blog Series

Why Purse Strings: The Meaning Behind the Strings

Purse Strings LLC is a company all about helping women be financially fearless, but have you ever wondered about the origins and significance of the phrase “purse strings”? Let’s delve into the world of finance and explore the meaning behind this intriguing expression.

Where did the phrase “purse strings” come from?

The term “purse strings” dates back to the 16th century and refers to the drawstring used to close a purse. In a literal sense, controlling the purse strings meant having control over the money or finances.

What are purse strings?

“Purse strings” symbolize financial control or authority over a budget or expenditure. It signifies the power to manage and allocate funds.

Who holds the purse strings?

The phrase “holding the purse strings” carries significant weight as this expression alludes to the individual or entity entrusted with the authority to control and oversee financial matters, including budgeting, spending, and investment decisions.

Whether it’s a household where a meticulous budgeter reigns supreme, an organization where a CFO steers the financial ship, or a government entity managing public funds, the person who holds the purse strings wields considerable power in determining how resources are allocated and utilized.

The one who holds the purse strings is often tasked with making tough decisions, balancing competing priorities, and ensuring fiscal responsibility. Their role is pivotal in shaping the financial health and sustainability of the entity they represent.

What does loosening/tightening the purse strings mean?

When someone loosens the purse strings, they are allowing for more spending or flexibility in financial matters. Conversely, tightening the purse strings signifies a more conservative approach, restricting spending or imposing financial discipline. When you hold the purse strings, you have the responsibility of financial management and have to know when the purse strings can loosen or have to be tightened. 

Why We Chose Purse Strings.

Purse Strings embodies the idea of financial control, budget management, and decision-making authority related to money matters. As we see more money shifting into the hands of women, making them a 30 Trillion dollar underserved market, all data points to women holding America’s purse strings. We chose the name ‘Purse Strings’ because it’s a feminine financial term that emphasizes the power women have when it comes to taking charge of their finances.  We want to ensure women are well equipped for this task with knowledge, skill, and a team of professionals on their side.  Women will be holding the purse strings of America, and we empower them to use their finances as a tool to help create a life full of choices.