Money is taboo. Or so we’re supposed to believe.
Radical transparency is something I’m buying into as I learn and engage with more people. I enjoy talking about money because it helps fine tune the machine. Even with us saving half our income, we know there are areas we can continue to improve so we benefit from being transparent.
When someone asks me a money related question, I have one of two responses.
I first gauge to see how sincere the question is. Often times I’m out with friends and we’re drinking so money might be brought up. A passing comment isn’t necessarily pause to make a comment, so I pass up the conversation.
When someone is interested in say one of the ways we saved over $50K last year, then I’m happy to dive into details.
Aaron Lowry recently said on our podcast, “Don’t give feedback unless you’re asked.”
You can check out more of the podcast episode here:
This answer is great, especially considering many people don’t feel comfortable discussing money.
Additionally, when we give unwarranted advice, we often put the listener on the defensive and they might not enjoy the advice. In an effort to share an idea you may leave them hammering home their old idea as they fight to defend their reasoning and rationale.
Another great answer came during a Camp Mustache podcast where someone asked, “How do I bring someone on board with Financial Independence?”
The response from Pete aka Mr. Money Mustache:
You probably can’t. People don’t really listen to you that much in real life, I find. But you can just model the behavior and make sure you’re having a good time of it.
And then, your curious friends, which are, in the long run, the ones that are worth keeping, they are going to ask you themselves. And if they see good results, they’re going to naturally want to follow it.
In either case, the old saying holds true, “The teacher will appear when the student is ready.”
So, what is the right answer?
How should we talk about money?