Zach Byler wrote about the five reasons people are scared to talk about money, which include the following:
Fear of the “Jones Family”
Lack of financial literacy
Cultural and societal norms
Fear of appearing greedy or materialistic
Privacy concerns
My two cents: Addiction to a lack of mentality
Can you relate?
I’ve noticed two primary types of people when it comes to discussing money:
People who are comfortable talking about the amount of money.
People who are uncomfortable talking about money.
People who are uncomfortable chatting about money frequently show visible signs of discomfort through their body language, changes in speech patterns, or emotional responses. Some people shut down when you bring up financial conversations.
People who are comfortable chatting about money easily bring it up in conversations and have no negative emotions about it.
The 5 Reasons
#1 Fear of The Jones Family
People want to be perceived positively.
In our society, those with money have the power.
Those with money are respected.
Those with money are more attractive.
Suppose you have less money than you’d like to have or don’t measure up according to the standards you believe are positive.
In that case, you might struggle with financial insecurity and discomfort when people discuss the topic or inquire about your finances.
#2 Lack of financial literacy
Ever feel imposter syndrome when the topic of money comes up?
All the economic and investment jargon can go straight over your head.
Here’s what I do: if I don’t understand something, I ask the question to increase my understanding; that’s the difference.
The best way to increase your financial literacy is to study, learn, and ask questions; to do this, you have to relinquish your ego.
If you’re scared of looking dumb, you’ll stay “dumb.”
Those who ask the questions and seek answers without a fear of looking dumb are the ones who become the smartest.
#3 Cultural and societal norms
It’s culturally “rude” to inquire about people’s financials — even if you’re considering partnering up with someone (this is one of the most crucial conversations you could have btw).
Money and sex are some of the most taboo subjects, yet most people want both of these things.
We need money to maintain our lifestyles, pay our bills, and have safe housing. The sooner you get comfortable with money, the better off you’ll be financially.
Families that discuss the subject of money openly, honestly, and positively tend to perpetuate more financially independent kids.
#4 Fear of appearing greedy or materialistic
A few negative beliefs people have about money include:
If you have money, you’re evil.
If you want to make more money, you’re greedy.
Money doesn’t make anyone terrible, and financial desires also don’t make anyone evil or greedy.
But if your motives to obtain more money are only to satisfy yourself instead of the greater whole, there is little reason for you to ever come into more money.
Overly selfish desires never amount to much.
“What kind of deal is it to get everything you want but lose yourself?” — Matthew 16:26
Those who come into more significant amounts of money constantly seek ways to provide value to others; this is where real money is generated.
#5 Privacy concerns
If you have money, there could be a fear of losing your money (especially if you come from poverty) or people trying to take advantage of you.
We live in a world where people like to flaunt their money, but there will always be people who are more cautious about who knows what they have.
Have you heard of stealth wealth? There’s an excellent article on it here
#6 Lack mentality
If you don’t have money, you can easily fall prey to believing you’ll never have money, money is unattainable, money is non-renewable, and money is hard to get.
MOST people have a lack mentality:
They believe if someone else has it, they can’t have it. They believe when someone else gets a promotion, a new home, a new car, or experiences a better life, there isn’t enough for them, too; this mentality will prevent you from ever experiencing financial independence and from developing comfort around the topic of money.
People with abundance mentalities understand that money is renewable; it’s something that never runs out.
When they lose money from investments, they’re doing great.
When the economy is doing rough, they’re doing great.
When they lose a job, they’re doing great.
When someone needs help but things are “tighter” financially, they know they can help them because abundance always brings back more.
People with abundance mentalities are always comfortable talking about money.
In fact, they’re best friends with money, which is why they attract so much of it into their lives.
Which of The 6 Reasons Resonate With You Most?
Everyone has reasons why they may or may not enjoy discussing money.
But the more comfortable and confident you become about having these crucial conversations, the more productive you can manage your own money and financially collaborate with others.
Taboo subjects are frequently some of the most essential ones.
This article is for informational purposes only. It should not be considered Financial or Legal Advice. Not all information will be accurate. Consult a financial professional before making any significant financial decisions.