Conversations About Money: A Resource

Part of being in polite society means not talking openly about politics, religion, and money.  I suppose this norm is based on the idea of not being disagreeable about character-defining attitudes and traits.  Money, in particular, can be a difficult topic because we all have different views on income, spending, debt, and other money-related topics.  Often, we feel attached to the strategies that have worked for us or for our family and may judge others who take a different approach or who value different things.  Some people define their value by their income or net worth and revealing too much may open them up to judgement or stereotyping from others. 

I find this social norm challenging because I love talking about money and what makes people tick.  Deep down, we all have feelings and beliefs about money that dictate our financial behavior.  One of the most satisfying aspects of my job is hearing and understanding my client’s feelings about money.  For a topic that we don’t talk about much, it surrounds us all the time.  How we earn, save, invest, spend, donate, and share our money says a lot about us. 

A new podcast called 50 Fires dives into this forbidden topic of money and meaning.  The podcast is hosted by Carl Richards, a former financial advisor and artist of the financial-themed sketches seen around our office and produced by Chip and Joanna Gaines. Carl has deep, frank, funny, and often difficult conversations about money with guests from all walks of life.  Rather than talk about specific numbers or investing strategies, the conversations include questions like “What is your first memory of money?” and “What Socio-economic group were you in during Jr. High School, and how did you know it?” Guests share what it is like to be a class migrant, what attitudes about money were shaped by their religious or faith tradition, and what money customs they learned from their family.  Carl often speaks about how we use our capital, which he defines as our time, attention, money, and talents, to pursue our goals and to align our capital with our values and goals.

Even though we all have different financial lives, we all share the universal struggle to make sense of money.  You may find that these conversations are a great way to learn more about yourself, your spouse, or your friends and discover what we value most as individuals.  If you would like to tune in, “50 Fires” can be found on Apple Podcasts, Spotify, and most other podcast-hosting platforms.