Talking About Money

Do you have someone you can talk to about your finances in a rational way? Or do you just think, worry, and fret about how much you have or don’t have?

Perhaps you’re unhappy about your financial behaviors — like overspending, avoiding saving, or being generally vague — but you don’t talk about these topics. .

Not talking about money can cost you big bucks.

Why People Don’t Talk About Money
Most people avoid talking about the specifics of their finances. They might complain about their situation or the general economy without ever discussing their own numbers – how much they have, how much they need, etc.

Here are some reasons why:
1. Shame and fear of being judged. Unless you have a really strong and positive self-image, there’s a good chance that you judge yourself as inadequate vis-à-vis your finances. As a result, you assume others will criticize you for not managing your money well. To avoid embarrassment, you avoid the discussion.

2. You don’t know the language of finance. Just as some people have a minimal emotional vocabulary, the same holds true regarding financial terms. Since these are not commonly used in everyday conversation, you may not be comfortable using words like cash flow, budgets, or money-management.

3. Numbers scare you. For some people, numbers are natural. They like to think, talk, and strategize about numbers. For those who are more right-brained thinkers, working with numbers and talking about them may seem foreign and unnatural. However, with practice, it’s possible to learn to embrace and even love working with numbers, especially because doing so can significantly improve your revenue.

4. Financial discussions with loved ones often devolve into fights. It’s not unusual for two people who live or work together to have different financial philosophies and behaviors. One person might be frugal, the other freespending, and finding a middle ground can be difficult.

The Advantages of Talking about Money

Talking about money has many advantages:

  • You’ll earn more. If you are afraid to talk about money, you are probably undercharging for your products or services.
  • When you can talk about your finances, you can learn about managing cash flow and other financial skills that will allow your business or practice to grow and expand.
  • You will be better able to get specific about how you want to be paid.
  • Asking for money will be easier.
  • Clients will perceive you as strong, focused, and mature.
  • You will stop the thought loops that go through your mind about your finances.

Steps to Take

1. Set the intention of learning to talk about money.

2. In my book, Build Your Money Muscles, I talk about keeping a Prosperity Journal. Use this journal to write about your money problems, concerns, and questions. Be aware of the emotional responses in your body as you do this.

3. Make a list of what you perceive are the reasons you have trouble talking about money. This will uncover some of your hidden money issues.

4. Tell someone you trust that you are learning to be more honest and open about your finances and ask them if they have an interest in doing this. If they are, set up a “prosperity buddy” relationship where you agree to learn and speak about finances. You can use my book, Build Your Money Muscles, as a guide.

5. Visit and participate in online forums such as the one at www.FrugalVillage.com.

6. Join the Peace of Mind & Prosperity program. This is a safe and non-judgmental place where you can anonymously discuss any of your financial concerns.