How to share financial advice with others
We all know that money is a sensitive topic. One that most people avoid talking about. However, sometimes the best thing to do is share what you know instead of keeping it to yourself. But tread with caution, it takes precise wording and an open mind to make sure the conversation remain productive and not hostile.
Over some snacks and a few bottles of wine, we had a free-flowing and wide-ranging conversation about money. Our talk covered the philosophical, including discussing the moralistic language that accompanies a lot of financial advice, as well as the nuts and bolts of personal finance, like health-care costs and credit scores (Adamczyk, 2020)
It’s important for everyone to feel comfortable around each other, to not think that others in attendance will view them negatively or use what they say against them.
it’s important to set expectations ahead of time and let everyone know you’ll be openly discussing sensitive topics.
If one of your guests says something personal or touches on something that made you think differently, don’t move on to the next topic. Ask them for details about what they just said. That could be as simple as, “What makes you say that?” or, “I found what you said really interesting, but I’m not sure I understand completely. Can you explain that a bit more?”
Be open to new perspectives
money touches every aspect of our lives, and is often a source of anxiety or stress, or, on the flip side, joy, or even pride. Sure, twentysomethings are worried about dating and careers and one million other things, but for most of us, money — how much we’re earning, what we’re spending, how to manage debt — takes up a lot of mental space.
A key part of this article that I would like to pay attention to is that comfort if a byproduct of have trust in one another. Trust is a word that has come up many times as I have gone about my research. Without trust, people are less likely to open up, share knowledge, or engage in conversations that might make them feel vulnerable. What this article contributes is a clearer understanding of how to intentionally create conditions where trust can grow.This perspective strengthens the argument that building trust is not accidental but requires deliberate effort and attention.
References
Adamczyk. A, (February 5, 2020). I spent an evening sharing my biggest financial worries with my friends—here’s why I think everyone should. CNBC Make It. https://www.cnbc.com/2020/02/05/how-to-talk-about-money-with-your-friends.html
Twenty/20 (February5, 2020). I spent an evening sharing my biggest financial worries with my friends—here’s why I think everyone should. CNBC Make It. https://www.cnbc.com/2020/02/05/how-to-talk-about-money-with-your-friends.html
