What if we all talked more about money on a daily basis? Is it truly that awful to discuss money or is it another underlining reason people shy away from it. I can clearly say I don’t know the answer, but it is a way of life here in the U.S. to avoid awkward money talks especially around people’s personal monetary status.
Well I want to provide you with some simple, easy to discuss money talk topics and I hope you can get some value out of it. The topics today will all be random little tidbits to get you to talk more about finances.
Imagine a world where a husband and wife could sit down weekly to talk freely about money and not have fun arguments.
How about if the basics behind money management is implemented into the US school system as mandatory curriculum for all kids before graduating High School. Imagine the impact this could have on future generations. It could possibly bring about the collapse of pay day lenders, and other predatory loan facilities.
Let’s dream for a second if 2 times a year families with older kids sat down at the dinner table to devise a plan to increase income and or investing for the entire family.
Think of big picture planning like the Johnson & Johnson family does as televised in the film “The 1 Percent”. They are forced to sit down to discuss strategies by the financial advisors, and the heads of the Johnson family trust. Why can’t we all have our own meetings on a small scale?
If you feel overwhelmed to discuss things, just find someone to help you smooth out any anxiety or issues you may have around money and that is not trying to sell you something. Believe me they exist and they will teach you first and foremost just like a good mentor.
Money Talk:
Investing one dollar is like taking one step up the stairs; if you consistently invest you will eventually stand at the top of Wealth Mountain, and can now begin to slide down the fun water slide of life. – Rich Uncle EL
Divide the budget 8 ways or 10 ways into any categories, as long as 1 of them is into investing consistently month after month. – Rich Uncle EL
By taking the steps to mentor anyone on how to invest properly from your experience, you can transform someone’s life. – Rich Uncle EL
People should not shy away from investing because it is the only thing that gives you a return on your money. – Rich Uncle EL
A Roth is not a person’s last name, it’s a must have savings vehicle you need to have as of yesterday – Rich Uncle EL
These small quotes will help you to start communicating about money, and some will make you laugh as that is the point. Making money talk less serious and just getting informed is a beginning step in the right direction. Maybe you can share them with loved ones or maybe you can just use them to ignite your finances.
The final point is to begin on the path to make talking about money a regular part of your life. If you want to brave like hundreds of personal finance bloggers and reveal it all including Net worth go to Rockstar Finance. If you just want to discuss minor things to get a leg up on saving taxes, investing ideas, and money management now is the time to begin. Check out this cool vanguard video interviewing kids about personal finance topics.
Comment if you welcome money talk in your everyday life?
Also let me know if you want advice how to begin talking in depth about these topics?
Rich Uncle EL
My husband and I rarely fight about money because he gladly leaves finance stuff to me. He has a hard time with money thanks to ADD, so he was more than happy to let me take over. He keeps an eye on our checking account balance, and he tries to steer clear of buying on impulse. As for the bigger stuff, I just keep him updated from time to time. "Hey, we have X in savings!" "Hey, the fund for the HVAC unit is coming along nicely." And so on.
I don't think we talk about it daily, but we definitely have an open dialogue.
I guess its best to keep a system that already works for your family. I think once in a while its good to update each other with greater details just in case an emergency happens, the other spouse can have access to the funds. Its great to be on the same page financially because then the savings just grows and grows.
My recent post Money Talk
I teach my 9 year old daughter on how to save money by getting a piggy bank for her and the next step was a castle bank from Disney that encourage her to put away money. I also teach her about stocks, few that I own that i try to teach her is Coke and McDonalds, too bad she hates eating what their selling (properly trained by my wife). I just have to convince my daughter that they have a very good business model even what they sell sometimes aren't the healthiest.
I think it’s great to get the kids off to an early start learning about finances. Piggy banks are a must for all small kids, and my girls knew how to save already by age 4. I’m sure it will be a fun ride to teach the next generation of dividend investors about stocks. Thanks for stopping by and good luck.