- Personal Finance
Let's TALK About Personal Money
For many people talking about personal money issues is one of the last taboos. This inability to talk about personal money and finance extends to everything about money and I know that many people feel this way.
We, in the western world simply don’t talk about personal money.
It used to be that we didn’t talk about sex, religion and politics but now these topics are bandied about readily but for some reason the taboo about personal money and finance is firmly in tact.
Can you remember a time when someone came up to you and said,
'I’ve just got an $X pay rise?'. They might say it in percentage terms but often not in dollar terms.
Or said, 'I've just saved X'?
Debt is Affected too
However, it extends to debt too.
Have you heard anyone say,
“I’ve got one heck of a mortgage and I don’t know how I’m going to make the next payment”?
“I’ve just had a wonderful splurge and to pay for it I had to use two credit cards because one was at the limit and I’m darned sure the other one is close to its limit too!”
No, it doesn’t happen or doesn’t happen often. It’s unhealthy and increases the burden, particularly of those who are having trouble budgeting or with other money and finance issues.
TALK about Money
You can unburden by talking about money. I recommend you choose your confidants carefully. Why? Because the general population isn’t used to people talking about money issues – whether those experiences are positive or negative.
Avoid choosing people who will judge you or use you as a benchmark to pat themselves on the back. You want relatives, friends, colleagues, professionals you can trust. Afterall this is very sensitive information – made all the more sensitive by the secret veil around it.
Begin by revealing your money situation slowly – just test the waters and see what the reaction is.
If your slow reveal works, talk some more.
Know what you want to achieve
Be clear about what you want to achieve by revealing. Do you want advice (in that case talk to a financial professional) or do you simply want to share the burden (in which case a friend will do). If you need personal financial planning advice then again, you need to talk to a professions.
Keeping money secrets can make those with personal money issues feel very isolated and it can add to the stress levels. In revealing your situation, you never know, you just be helping someone else as well.
Some great books to help you talk about money and begin walking down the path of financial freedom
Suze Orman's Best Selling Books
The Nine Steps
Put the 9 Steps into practice with this workbook
Spenders and Savers
We often find ourselves in relationships with someone of the opposite approach to money. By that savers often pair up with spenders and spenders choose someone with saving characteristics. If you would like to find out more about this then check out Can Spenders and Savers live in Harmony?
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