Why Talking About Money Can Make You Wealthier

Talking to your peers about your financial goals improves your chances of actually executing them.

So many of us carry around some baggage when it comes to money. Some folks find it rude to talk about finances, others are ashamed or uncomfortable.

And then there are many folks who’re clueless because no one ever taught them how to talk about money.

It’s no wonder that a recent survey found that 44 percent of Americans see personal finance as the most challenging topic to discuss with others. Most folks find it harder to talk about money than subjects like death, politics, and religion.

A 2009 study highlighted something interesting: Those who talked about money at home while growing up didn’t struggle as much with impulse buys or maxing out credit cards. In fact, the researchers found that if you’re brave enough to share your financial goals with your friends, you’re more likely to hit them.

Too many people are bogged down with debt. This prevents them from saving, which worsens their finances. And this, in turn, makes them even more embarrassed to talk about money with their loved ones.

Talking to your peers about your financial goals improves your chances of actually…