How open are you about your finances? Money is really a taboo subject. People don’t talk about it a lot. Even close friends skirt delicately around the issue. Many families do not discuss money either. While how much money you have or make really is not anyone’s business, you can learn and teach others as you discuss your money habits with others. Is it difficult for you to discuss your money habits?
One reason that many people are uncomfortable talking about money is the comparison of themselves to others. It can be difficult to be “the poor one” or “the rich one” in a group. It is not fun to think about what others can or can not do. Can you take the comparison out of the conversations about money or will it always exist?
Another reason people may not want to talk about their money is because they are embarrassed. If they are not managing their money well, often people do not want to talk about it. People are uncomfortable admitting their mistakes to others. They also often don’t want others to know that they are struggling.
Another reason that people may not discuss money habits or issues is because the topic was taboo in their family. It could be that their parents did not want them to worry. I also know families who were well off who did not want their children to think themselves better than others, and so they did not discuss finances with them.
One place that it is important to break the silence on money is with your children. They can learn from your mistakes. They can learn your good habits. If you do not make money a taboo topic with your children, this will benefit them greatly. If someone asks a question about how you make your financial decisions you may want to share the answer with them. You do not need to share particulars or amounts, rather how you make decisions or percentages of your budget.
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