The Intrinsic Value Podcast - The Investor’s Podcast Network

MI Rewind: How to Talk About Money w/ Erin Lowry

Feb 16, 2024

Erin Lowry, personal finance expert and author of the Broke Millennial Series, shares advice on navigating awkward financial conversations. Topics discussed include how to tell friends you can't afford the same lifestyle, asking parents about retirement, talking about salaries with co-workers, prenups, and preparing kids to have conversations about money.

01:05:30

Episode guests

Erin Lowry

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Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Open and honest communication is crucial when discussing money with partners, friends, parents, and coworkers.

Setting boundaries and maintaining honesty are key strategies for discussing financial differences with friends.

Initiating discussions about retirement and potential financial support for parents can be done by asking for advice and sharing anecdotes about others' experiences.

Deep dives

Navigating awkward financial conversations in relationships

In this podcast episode, Erin Lowry discusses her book, Broke Millennial Talks Money, and offers insights and advice on navigating financial conversations in various relationships. She highlights the importance of open and honest communication when discussing money with partners, friends, parents, and coworkers. Erin shares examples of different scenarios and provides practical tips for handling sensitive financial topics, such as sharing different financial lifestyles with friends, discussing retirement and support for aging parents, opening conversations about salaries with coworkers, and considering prenuptial agreements in relationships. The episode emphasizes the significance of addressing these conversations early and honestly to avoid misunderstandings and financial conflicts in the future.

Introduction

2min

Navigating Awkward Financial Conversations

17min

Approaching Conversations with Siblings about Money

5min

Helping someone improve their financial habits

15min

The Importance of Prenuptial Agreements

8min

The Importance of Having a Prenup and Having the Conversation

4min

The Emotional Challenges of Discussing Prenuptial Agreements

17min

Discussion on Guest's Work and Contact Information

2min

On today’s Millennial Investing Rewind Episode, Robert Leonards chats with Erin Lowry to discuss her book— Broke Millennial Talks Money: Scripts, Stories and Advice to Navigate Awkward Financial Conversations. Erin is a personal finance expert, founder of Broke Millennial, and the author of the now three-part Broke Millennial Series. Her main goal is to get people more comfortable with their money and to talk about their finances in a way that it is understandable, digestible, non-condescending and most importantly relatable.

IN THIS EPISODE, YOU’LL LEARN

00:00 - Intro

02:14 - What is a money script?

04:03 - What are the four main money scripts?

04:03 - How to tell your friends that you can’t afford the same lifestyle they can.

11:31 - How to ask parents if they can afford retirement and if they need support as they age.

25:44 - How to open conversations about salaries with co-workers.

34:58 - What is a prenup and how do we start a conversation with our partner?

50:13 - How to get on the same page with our partner on everyday money things.

57:12 - How to prepare kids to have conversations about money.

And much, much more!

*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members.
Related episode: Listen to MI018: Take Control of your Money with Erin Lowry, or watch the video.
Recommended Book: Broke Millennial Talks Money by Erin Lowry.
Recommended Book: Broke Millennial Takes On Investing by Erin Lowry.
Recommended Book: Broke Millennial by Erin Lowry.
Recommended Book: Millennial Money by Patrick O’Shaughnessy.
Recommended Book: The Total Money Makeover by Dave Ramsey.
Recommended Book: Set for Life by Scott Trench.
Check out the books mentioned in the podcast here.

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The Intrinsic Value Podcast - The Investor’s Podcast Network

MI Rewind: How to Talk About Money w/ Erin Lowry

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Navigating awkward financial conversations in relationships

Setting boundaries and honesty with friends about financial differences

Approaching conversations about retirement and financial support with parents

The value of prenuptial agreements and navigating the conversation with a partner

The importance of prenuptial agreements

Balancing emotions and logical thinking when considering prenups

Remember Everything You Learn from Podcasts