No Stupid Questions 81. Why Is It So Hard to Talk About Money?
Jan 9, 2022
Dive into the societal taboos surrounding money conversations and explore how they impact financial literacy. Discover the emotional ties people have to finances and how these affect perceptions of wealth and identity. Hear a surprising story about a teenager taking initiative to understand IRAs. The hosts advocate for breaking the silence around money to combat financial illiteracy and elevate open dialogue, making the topic less daunting for everyone.
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Money Talk Taboo
- Talking about money is often avoided, similar to religion, politics, or sex.
- We attach strong emotions to money without understanding them, leading to mismanagement.
Class and Money Taboos
- Money taboos vary by social class.
- Those with more money may avoid the topic due to guilt, while the middle class avoids it due to financial insecurity.
Angela's upbringing
- Angela Duckworth grew up in a financially transparent household.
- Her parents openly discussed income, expenses, and even relatives' finances.