It’s time to have the talk. About what? The topic that most Americans are afraid to discuss. Now is the time to find the courage to release our fears and let our friends and family know if we are experiencing or will soon experience financial challenges. I call this Money Talk, an open and honest conversation with our inner circle of friends/family about our financial situation.
During the past two years, many of my clients have opened up and revealed their deepest and darkest secrets: they are on the verge of losing their home, they lost their jobs, their credit is terrible, their home values have drastically declined, they are unable to pay their monthly bills, or they have little savings. Many of my clients consider me a trusted professional, so they feel comfortable sharing their financial information with me but they are unwilling to share their financial distress with their close friends or family members. The failure to communicate these important financial concerns create financial illusions; giving many people the impression that their friends and family members are doing just fine.
Rashad Phillips, MBA is a Tax Accountant, Small Business Advisor, and an Award Winning Business Journalist. Check out his full article on Old School 105.3′s Website at the link below.