Let's Talk Money
How often do you talk about money with your friends, your parents, your kids or even your significant other?
Many tiptoe around or avoid talking about money, even when it could be an important conversation to have.
What does money represent that makes talking about say – one's salary – off-limits even among close friends and family?
Why Is Money Talk Taboo?
Money represents so much more than the piece of paper that it is printed on.
- Money is sometimes wrongly used as a scorecard for success, happiness, power, one's abilities and self-worth.
- It can also expose one's insecurities, uncertainties or feelings of failure.
- There can be a lot of "judgement" wrapped up around money. Money is something we can measure. The "number" means different things to different people. As soon as you say a specific number, judgement may follow.
- Wealthy people sometimes view talking about money as ill-mannered, or beneath them. While in lower-income households, families often avoid talking about money (or the lack of it) to avoid stress and conflict.
It's Time to Bring Money Talk in from the Cold
- Some people lack confidence in their money knowledge. Some feel like they just don't know what they should about money, money management, or how to grow your money. (No surprise there, basic money management is not taught in most schools, despite being one of the most important skills you need to succeed as an adult).
Healthy relationships are built on open and honest communications. Secrets help keep us stressed and conflicted. This is true not only between spouses and significant others, but with children and parents and siblings too. When money is a safe topic, you can work together with whomever is involved to reach your collective goals.
Money represents the resources that we have available to reach our goals.
Here's How to Get Started
Take stock of your current financial situation:
What are your financial goals?
- Write out a list of your assets and your liabilities. Do you have debt? How much? Do you have a plan to pay off your debt?
- If you have student loans, are your monthly payments manageable, or do you need to look for extra ways to boost your income?
- Are you close to retirement? Are you on track to have enough savings for retirement or do you need to boost your income so you can do catch-up savings?
Write them down.
Your Financial Challenges Are Opportunities to Grow
- Do you want to buy a house
- Save for retirement
- Save for your children's college education
- Take a trip to Hawaii
- All of the above!
Think about how you want money to help you in your life. Talk about this with your family and loved ones. Look at your current financial situation. Are you on track to meet your goals? Could you use some extra income every month?
Trading Can Be the Answer
I founded SheCanTrade
as a way to teach people just like you how to trade options
and earn extra income. Most people are total rookies when it comes to money. That's okay!
I believe everyone can and should learn how to trade. Trading is a way you can take control of your financial future. If you are married or in a partnership, do it together! It can be a shared journey for you to grow as a couple, grow your income and help you meet your goals. Whether you are a beginning to the markets or a more advanced trader, I can help you build your trading skills. See my trading courses here
Watch my recent TEDx talk: What You Weren’t Taught About Making Money
Return to Blog