Why We Need To Have Conversations About Money
Season 1 Episode 5 of the rich immigrant podcast is about why we need to have more conversations about money and why we need to normalize talking about money. One of my biggest financial regrets is not talking about my debt payoff journey during the process.
43% of Americans do not know how much their spouse makes, yet, finances are a major reason for divorce. We need to normalize talking about money by talking about our mistakes, financial wins, investing, questions, salaries, pricing strategies, business strategies, and so much more. When last did you have a money conversation? Who was the other party, what did you talk about, and how did that conversation leave you feeling?
Money Conversation Podcast Key Topics
- In this episode I break down:
- Why people hesitate to talk about money and why it is such a taboo subject
- Personal examples of my journey with and without money conversations
- What the lack of conversations about money is costing us in time, opportunities, and generational wealth
- My first experience with people openly sharing their salaries
- People to avoid while having money conversations
- What should be in place when you have a conversation about money
We are built to do life and gain knowledge in community. Knowledge is power and with the right amount of knowledge, you can confidently take your seat at the negotiation table. The depth of your money conversations will differ from one person to another, use your discretion. You don’t always have to do everything you hear of in a money conversation; at worst you have more knowledge and additional perspectives. It is wonderful to have spaces for healthy money conversation for collective growth and accountability.
Final Thoughts on Conversations About Money
Go back to your last conversation about money and think about the following:
- How could it be better?
- Did you pick the right person for the conversation?
- Was it an honest conversation
- Were you enlightened?
- Did you agree to disagree?
- Were you inspired and informed or did you feel shame?
No one taught most of us how to navigate money conversations but we have the tools to do better, so let’s! For starters, here we are talking about money in this space/on this podcast.
Thank you for listening to this episode of the Rich Immigrant podcast, please rate, review, subscribe, and share this episode. Stay connected with the podcast and join our community on Instagram at ‘Therichimmigrant.’