by Kristen Euretig, CFP® Founder & Chief Planner
I was honored to be invited as a guest on the radio show and podcast What We Know, What We Don’t last month and the conversation centered around the pervasive relationship between shame and personal finance. As we discuss on the episode, money seems to be one of the last taboo topics in our society. There has been a lot of progress towards more openness about topics such as mental health, sex, sexual identity and addiction, to name a few. But finance? It’s unusual for people to discuss it openly, especially when it comes to the challenges people face.
I have often told prospective clients that there’s no need to be ashamed if you don’t know how to improve your financial situation on your own. If our car or computer breaks down, we don’t seem to feel like we should know how to fix it ourselves. Why should finances be any different? We don’t get a financial education in school, and very few families discuss and educate children on finances in the home, so where exactly are we supposed to develop this skill that so many feel they should have?
The less we talk about things, the more intense our sense of isolation and shame can become. That’s why I love when Benita Conde, co-host of What We Know, What We Don’t, bravely shares a personal financial experience that has traditionally been totally taboo to discuss openly. Check out the episode to hear her surprising personal reveal that I find inspiring and admirable for its vulnerability.