Just yesterday I overheard two of my friends talking about how awkward it can be to talk about money. In all fairness they were talking about a friends situation where she is down in the dumps about several things, one of them being money.
It is true, money conversations can be uncomfortable, especially when someone is having trouble managing their money. However, all finance conversations do not have to make you want to crawl in a bed in utter despair.
Sharing your financial outlook with your spouse and children can help you keep each other focused. If you share your financial goals with someone, even a friend, they can help you stay on track with your spending. There have been many times that Tom reminds me that I would rather save for something big instead of doing an impulse buy.
I was lucky that my parents encouraged me to manage my own money at a young age. When I was 12 they gave me my own checking account and gave me a monthly allowance. If I wanted fancy shampoo, lotions, razors, or clothes I had to buy them myself out of my allowance. For example, my mom would buy me regular shampoo from Wal-Mart, but if I wanted the salon stuff I was on my own! They also wouldn’t give me extra money to hang out with friends, if I wanted to go to the movies, they would remind me that they had already given me my allowance for the month and I needed to budget that amount wisely. This promptly led to several after school and weekend jobs.
Every family works differently, and I am not saying this is the only way to instill a sense of financial awareness in your children. I don’t even know if that is how I will raise my child. But I do know that talking about money in my household helped me understand how it works. Because of this, I am not nervous to talk about my financial situation with anyone.
So, I am sorry if I have ever made any of my friends feel uncomfortable when I talk about money. I don’t think anyone should ever feel uncomfortable talking about money (at least with friends, it may not be the best cocktail conversation piece). We all make money mistakes and it feels good to admit that to someone and make better plans for the future.
How do you feel about discussing finances?