At Exodus Lending, we believe in the power of story-telling. Sharing your story is compelling – even if it’s a little scary. But talking about money? Downright terrifying. Money is one of the most challenging topics of conversation. But there is power in speaking up, and these strategies can help you begin talking about money with your family and friends.
A lot of the shame people feel around money is about a fear of judgment. Many people worry that others will think less of them due to their financial problems. To avoid this, they keep their struggles secret.
Living with deep-rooted shame is not healthy. One way to release this burden is to talk about your finances. Money conversations can be an excellent opportunity to relieve stress, learn from others, and improve your habits. Once you start sharing your story, you will likely find that you are not alone.
Assess your and the other person’s situation before starting the talk.
Preparing what you’ll say and when you’ll say it can help lessen the fear around challenging conversations. Here are some topics and conversation starters for all the different relationships you may have in your life.
– For conversations with children, create learning opportunities connected to life events.
– For conversations with a spouse or partner, make an ongoing “money date” to talk about your finances.
– For conversations with parents or other adult relatives, begin the dialogue by talking about yourself.
– For conversations with friends, ask to become “money buddies” to help hold each other accountable
If you’re not comfortable speaking with those closest to you, speak with a financial counselor or journal.
Money Management E-Newsletter: December 2019