When was the last time you had an honest conversation with a family member about money? Well, the 2014 survey conducted by The American Psychological Association (APA), indicated that 36% of Americans are uncomfortable discussing money and 18% said money was a “taboo” subject in their families.
We want to help change that. Understanding finances doesn’t have to be overwhelming. In fact, it can be exciting to watch savings grow and dream about the future. This can be even more exciting when you are able to share it with those you love.
Global offers our members online training modules that equip them with the critical knowledge and skills they need to make the financial decisions that are best for them. Additionally, we have curated a list of tips on how to talk money with those you love.
1. Listen
Create a safe place to discuss money and allow open and honest conversations that include the entire family.
2. Make financial goals a family goal
Involve your family in setting realistic financial goals for your future. This will create a sense of unity around the topic of money.
3. Don’t automatically say yes to giving/lending someone money
Before giving/lending someone money when asked, try to offer help in other ways. This could be through personal advice, helping them set up a budget, or even as simple as letting them know you’re available and that you support them.
4. Be the change YOU want to see!
These conversations will only get easier when you step out of your comfort zone and initiate these changes you wish to see.
If you would like to learn more about discussing finances with family, here are some resources:
