It’s time to discuss money with your family.

Why? Well, financial mistrust is a leading contributor in divorce cases – and keeping money-talk a Taboo is bad for all parties in ones family (Mothers, Fathers, Sisters, Daughters, Brothers, Sons and otherwise)…That being said, let’s expand on some of the areas of concern and how we can get better together!

1. Privacy Concerns: Many Americans consider personal finances a private matter and prefer not to discuss them openly, even within their family circle.
   The way to handle this ‘privacy concern’ is to discuss goals: Discussing goals will break the barrier to privacy, and will help us come to an understanding of our individual financial decisions. In the family circle, we don’t have to ‘agree’ with eachothers financial decisions, but respecting the decision and understanding the goals helps break down the taboo.
   
2. Cultural Norms: In American culture, discussing money is often considered taboo or impolite, which discourages open conversations about finances within families.
   Start bringing up money in the workplace. Bring money up in your social group. Start a blog, or an x.com page, bring it up at the coffee house (Starbucks anyone?). We collectively will benefit from talking about financial wellness more frequently.
   
3. Generational Differences: Older generations may have been raised with the belief that discussing money is inappropriate, leading to a lack of communication about financial matters within families.
   I experienced this personally. To this day – I have not been able to break through the generational difference in my immediate family group. My ‘modern’ views on money and growth and investment have set me aside within my family. But that’s okay! I don’t step back or give up – I leaned into it by talking with my peers and starting a blog; this allows me to share my views with this small community here on the internet.

Finally, a Lack of Financial Literacy: Many Americans lack a basic understanding of personal finance concepts, which can make discussing money intimidating or uncomfortable. Truly.
But again, that is 100% okay! We all have a responsibility to ourselves to change our degree of literacy and to learn more about good financial behaviors (i.e. Saving, Investing, growing our business and our interests overtime).

If you want an EXCELLENT book about finances & financial literacy, pick up a copy of ‘Set For Life’ https://amzn.to/3SIusPy. It’s the single best Modern Finance book that I’ve read.

You can and will benefit from talking more about money in your personal life – if that’s a goal you have in 2024. In the meantime, stick around for more Military.Cash commentary in the coming year!

-Michael, with Military.Cash

P.S. You got this. Keep reading, learning and pursuing more for you and yours. If you want to get social with me, follow me on Instagram https://www.instagram.com/military.cash/