Let’s Talk About Money

Do you talk to anyone about money? A lot of people prefer not to discuss the topic. Seventy percent of Americans consider talking about money to be rude. There are various reasons why people don’t like to open up about finances, including, but not limited to, perspectives that regard the topic as taboo, stress about money-related issues, and privacy concerns.

You should know, there’s value in talking to the right people about finances. Talking helps us rationalize and sort our thoughts, can provide relief when needed, forces us to assess our choices, and it points us in the direction of growth.

 

Benefits of talking about money

  • You can gain an accountability partner. An accountability partner is someone who you share your goals with and they assist you with keeping your commitment.
  • You can finally start to kick thought patterns that don’t serve you and get a new perspective.
  • You can expand your knowledge and learn how to grow financially. Increasing your financial literacy can help you achieve your goals, build wealth, and develop new habits to pass on to loved ones.

 

How to talk about money

Make sure the person you choose to talk to about finances is someone you trust. Talking finances and opportunities for growth doesn’t require you to divulge confidential information. So although the act of talking about finances may be a little out of your comfort zone, you shouldn’t have to worry about anyone having all of your personal details.

Don’t roll up on your finance confidant and start reading off account balances and salary. But rather, start the conversation by telling them what you’ve recently learned, what books you’re reading to help improve your financial literacy, sharing what profiles you follow on social for tips, and asking them what’s on their radar.

Be transparent and tell them what you’re hoping to gain by talking to those close to you about finances. This should be a give and take relationship and you don’t have to be a finance mastermind to contribute. Be willing to do some research and digging on your own so when you chat you can show that growing financially is important to you.

Download the MoCaFi app today, enroll in a MoCaFi Mobility Bank Account, and get a free one-on-one Financial Coaching session once you reach 120 Mobility Score Points.