Let’s talk about Money or Not!

Let’s talk about money
By Vix Munro – Our Money & Wealth Expert

Surveys show that people would much rather talk about sex than money. While sex was a taboo topic for a long time, that has been gradually easing and now it’s no longer such a big deal to talk about your sex life with friends, even over dinner.

But money is still a taboo topic and people don’t talk about how much they earn or how much they have in the bank. They don’t talk about the debt on their credit card either. Yes, sex is fun (duh), but money can be fun too. It’s exciting to plan the life you want, and what you need to do to achieve it. And money is the tool to get you there.

However, money is considered a private matter, and people may feel uncomfortable discussing it with anyone other than close family members financial coaches and financial advisors. We need to make it more socially acceptable to talk about money too. It will be uncomfortable talking about money at first but change usually starts with discomfort. And whilst it’s not something that can change overnight, it can certainly change over time.

The subject of money makes many people uncomfortable and a lot of that has to do with guilt and shame. Feelings of guilt for having money when others don’t. And feelings of shame for being in debt and struggling to make ends meet. Yet feeling guilty or ashamed about money can have serious consequences for your financial health and overall well-being. So, it’s important that challenge negative beliefs and perceptions about money to help overcome feelings of guilt and shame.

There are so many benefits from talking about money:

1. Talking about money can help us make informed decisions. We can learn from other people’s experiences and perspectives. We can gain insights into different financial strategies and investment options. By discussing our financial goals and concerns with others, we can make more informed financial decisions for ourselves.
2. Talking about money can help reduce stress and anxiety. Sharing our worries with trusted friends and family members can help us feel less alone and provide us with much-needed emotional support.
3. Talking about money can improve relationships. Money is a sensitive topic and avoiding conversations about it can create tension and conflict in our relationships. It’s also one of the main reasons for divorce or relationship breakdown. However, when we communicate openly and honestly about our finances, we can build stronger, more trusting relationships with our partners, friends, and family members.
4. Talking about money can lead to financial success. It can help us set clear goals, create a spending plan and plan for the future. By working together and sharing knowledge and resources, we can develop a better understanding of how to manage our money effectively.

Money is an essential part of our lives. It’s a crucial tool that we use to buy things we need or want, invest in our future, and support ourselves and our families. Talking about money is empowering. It’s time to normalise it.

Extract from draft book – Financial Cliteracy: A Woman’s Guide to RICHES and Financial Pleasure

In the coming months, Vix will be giving us more guidance on how to think and talk about money and to have a better relationship with it and more financial success.

Vix Munro is a certified financial coach, mentor, and educator. She’s also an entrepreneur, author, and eternal optimist. She’s passionate about money, investing and the economy. Her mission is to help women create and grow wealth so that they can live the lives they want. She believes we all can transform our money mindset, rewrite our money story and become financially empowered. And that this can be liberating, life-changing and fun.

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