ย #PersonalFinance #MoneyTalk #FinancialLiteracy
Hey there! ๐ Let’s dive into a topic that might not get as much attention as it deserves – Personal Finance! ๐ธ
I’ve noticed that in my circle of friends and colleagues, conversations about money are often limited to dreaming about winning the Lotto. ๐ค But shouldn’t we be talking more about how to manage our finances and make better financial decisions?
So, how much importance do you give Personal Finance in your day-to-day life? Do you actively think about budgeting, saving, and investing for the future?
It’s interesting to see that even though finances can be tough for everyone, talking about money is still a taboo in some parts of the world. Why do you think that is?
Here are a few possible solutions to encourage more discussions about Personal Finance:
– Organize financial literacy workshops or seminars in your community.
– Share your personal finance journey and tips on social media to inspire others.
– Start a book club focused on personal finance books to learn and discuss together.
Let’s break the silence and start talking more about money matters! ๐ฐ Share your thoughts and ideas in the comments below. Let’s help each other improve our financial literacy together! ๐
Probably not exactly sexy enough and most people don’t want to admit to their failings/short comings I guess / fear of judgement.
If you’re higher income or net worth while talking to someone lower, it’s really hard not to sound like a cunt complaining about “the poors”. If you’re lower income talking to someone high income, well, you just don’t want to make yourself be one of “the poors”. And even if you are talking to someone on the same level as yourself, you can be a little more open about it but it’s still hard for the conversation not to turn into a circlejerk — “let’s laugh at poor people” or “shit, sucks being poor” or whatever rich/poor people talk about. You really have to be careful to have a productive conversation and not make anyone feel bad about their station.
I think the title of this post and the actual question in the content are quite different. So I will answer them separately.
I give personal finance a moderate amount of importance in my day to day life but I think it can easily become an obsession and if I was constantly thinking all day about how I can do better I think that would be a bad thing, not a good thing. So I certainly don’t dwell on it every day or think of it like a hobby. I pay more attention when a big decision is coming up like a mortgage refix
As for discussing it with others, I am happy to have chats about financial decisions with my close friends, but at the same time I have to ensure I am careful as people have different priorities and what’s right for one person may not be right for another. So I try to make sure I don’t speak in a way that would imply I think I have got everything right and think any other ways of doing things are wrong.
I think partly it is due to conditioning when we were growing up. โDonโt discuss religion, politics or moneyโ. I think a lot of people find it either rude or uncomfortable to bring it up.
High importance and I always talk about it to my friends and family.
I talk about it everyday to my girlfriend. Our goals are to get rich and retire early so we keep grinding towards that goal. Finance talks often, career talks every few months and any other planning.
With the friend I have we simply talk about it here and there. Careers topics and all that. We can simply ask each other how much we make etc with no hassle.
I also talk to my younger siblings about personal finance etc and teach them mistakes Iโve made and give them tips and shit. Motivation to spend, get them to look into what investing is and all that to help set them up for a better future.
Investment property chat is the proxy for any real discussion about personal finance in NZ.
After getting down as low as $10 to survive a week on food, decades ago now, it has always been top of mind, even after my networth exceeded $1 million.
Very high importance in my day to day life.
But I do it for a living ๐
Maybe you could do it for a living if you enjoy it!
I find that most people don’t want to talk about it because the judgement is very strong. Which is frustrating because there’s no 2 households that should be doing the sane thing – that’s why it’s PERSONAL Finance. Discussing your approach and learning from others should be quite fun!
I’ve ranted (sometimes ranter, sometimes rantee) with colleagues about NZ’s focus on speculative asset investing rather than productive. Discuss savings accts vs TDs vs ETFs vs Index funds vs investment trusts vs stock picking (vs spending it on travel) with friends/family and occasionally colleagues. Also whinged with friends on inflation if that counts.
I believe being reasonably open about pay is in the interest of employees in general, but have to be careful to not come off as bragging or create jealousy. “Do not discuss your compensation” lets employers get away with underpaying.
I think itโs very important and am glad I was gifted a book in my teens about it.
Kiwi attitudes around personal finances are in my opinion kind of an extension of tall-poppy syndrome. People who do significantly better than the average are often criticised baselessly, which encourages keeping such topics private
It honestly depends on your circle and how open/comfortable individual friends are within your circle.
Chatting about finances can be a vulnerable topic, especially if you and the other person has different views. I have some friends who I can chat with about how much our salaries are and how much we budget for holidays.
Other friends donโt feel comfortable, and donโt really want to talk about it and thatโs okay.
I probably think about my own PF weekly, and definitely monthly when I calculate our net worth and savings rate. But I’m consuming PF content daily.
I discuss PF a bit with my siblings and friends. I ask my Dad lots of questions – he was a salary man all his life but now runs an orchard in his ‘retirement’. I’ve only been able to do this over the last 5 years or so.
I probably talk more with my colleagues because I’ve opened the door. I started giving a few sessions of ‘money talks’ – just covering things like tax, kiwisaver, budgets. It was surprising how interested people were and the questions they asked. People bring PF up with me fairly regularly, and I’m often confided in with their plans.
Pretty much every day but i work in finance so itโs hard not to when I help others with their finances
i track my networth every month, been doing it now for almost 10years, i obsess over it,
Pop
I up knock โ out a
The less someone talks about it, the more likely they don’t value it or isn’t a priority.ย
That can be because they are hiding something and feel ashamed or because they’ve ‘made it’.
Also Kiwis tend to keep this stuff to themselves culturally compared to overseas.
My group of friends (healthcare professionals) talk about finances with each other on a pretty regular basis. Not so much specific income but definitely discussing shares, investments, structuring of mortgages etc. We think we learn a lot from each other so itโs a net benefit
5-10 minutes a day