I’m probably not alone in saying that the subject of money is not a popular conversation topic. Wherever I go to meet with people and want to discuss various topics like the weather, current events, sports, etc…but when the topic of money comes up, some cringe or change the subject altogether. I am guessing the reasoning is it’s a personal issue with most hence the word ‘personal finance.’ It feels like an unwritten rule to almost never talk about it in any social setting. Everyone has their dealings with personal finance albeit when they receive income, spend money, negotiate how much you want to earn at their job and when you reflect on why you wasted your money on a certain item(s). But why can’t a lot of people want to discuss it with others? I may have a couple of reasons:
- They just want to keep it to themselves – Some feel ashamed or don’t want to feel like they are bragging when talking about money simply because their own financial situation is something that is personal. They only want a very small amount of people to know their financial situation. I am in a way on this same boat but when it only gets to details of it( ‘How much you have saved up’ or ‘What is your salary?’) but if we are talking about how to build your income and certain ways to do it, I am more than happy to discuss it with you. Whenever I try to bring up building up your retirement account or looking into investing in the stock market and open up an index fund account, my friends seen to nod in agreement but immediately change the subject.
- Do not have enough information about personal finance – The lack of education in personal finance especially in high schools have made some people seem to think that living ‘paycheck to paycheck’ is the only way to get by or investing in the stock market is a big gamble. These same people have no idea the opportunities that are out there to build your wealth and you do not have to be an financial expert. Investing, side hustle, budgeting, being frugal are just some of the ways you can not only get away from that paycheck to paycheck mentality but have that financial freedom. You just have to sit down and take the time to learn how to create a bigger income.
I was at one point where I did not want to discuss my financial situation at all because I was in credit card debt, had to pay student loans and was in the red in my net worth. I felt ashamed and embarrassed even thinking about it. But that was before I became more educated in the subject of personal finance where I took a community college class, read books, articles and listened to podcasts. I was more aware of how to bring down my debt, pay off my loans and create a reasonable net worth. And I also discovered an online personal finance community where a huge amount of bloggers openly discuss their financial situation and ways they got there. They want to provide advice for anyone that needs guidance to get out of a bad financial situation. With this blog, it’s a sign that I am in the beginning stages of being in that community and hope that it will help others to provide information of not just financial freedom but a lifestyle.
I think that giving lots of people the knowledge of personal finance in high schools and blogs will at least bring more conservations about money at the next party you attend.