As my 9-year-old son pointed out after being back in school for a week, “girls sure love to talk.”
Yes, we do! We talk about food, clothes, family, career, weight, sex…pretty much everything. But not money. The money convo is tough!
We hush when it comes to money. Whether we feel it’s taboo, or we’re embarrassed by how little or how much we make, this silence is hurting us.
The lack of knowledge and confidence about finances is why only 20% of women talk to their friends or family about money.
We talk to each other about spending and getting the best deals. But we need to go beyond the coupons and share how we can boost our earning power and invest for our future.
Here are some tips to start talking about money with your friends.
Share your intention for wanting to talk about money.
If you’re seeking a raise at work, ask your friend if she’ll role play with you. Ask a friend who knows about the industry you’re in what the typical salary range is at a particular level?
If you’re looking to invest, share with your friend that you’d like to get started and ask how she invests. Could she recommend a financial planner?
When you and your friend can see the bigger picture together, you are more likely to help each other solve it.
90% of women will be solely responsibly for their finances due to widowhood or divorce.
Women who consistently negotiate their salary increases earn at least $1 million more during their careers compared to women who don’t negotiate.
92% of women say they are interested in learning more about finances but only 20% actually talk to someone about it.
Share your goals and visions for the future.
Ask your friend what some of her financial goals are. Would she like to buy a home one day, or send her kids to college, or quit her job and spend more time travelling?
The more we can get clear about what’s truly important to us, the more we can see the value of investing our money.
Whether it’s books by Suze Orman, online sites such as dailyworth.com, or newsletters like this, start talking about them with your friend. The more educated we become, the more we can help each other feel financially confident.
Check out this month’s GLAMOUR magazine where I chime in about Women and Salary Secrets.
I’d love to hear from you!
Share your fears or blessings about talking about money.
The Abundance Loop is available on Amazon, Barnes & Noble, or order from your favorite bookstore.