I’d like to offer you all a challenge.
At the next dinner party you host, ask your guests to each share their most embarrassing money story. Spending too much at a national retail store doesn’t count. We’re talking your most secretive, can’t-let-anyone-find-out, money story. Approach it with a “time heals all shame” mentality. Think your friends would participate?
Turbo recently co-hosted a dinner party along with Chelsea Fagan of The Financial Diet, and this very question was posed to our guests. With 15 financial influencers in the room, one might think the answers couldn’t be that severe given everyone is supposed to be “good” with their money.
What we learned is: everyone makes mistakes with their money. We just need to provide a platform to talk about it.
In January of this year, Turbo launched the #RealMoneyTalk campaign which is dedicated to getting people to open up and share about their finances. Talking about money is not only therapeutic, it allows you to teach through your own mistakes and learn from others. Discovering that you and your seemingly perfect, buttoned-up officemate have both been declined at the retail store not only provides some chuckles, it gives you camaraderie. You’re not in this alone.
Having to manage money and pay taxes is one thing that we all have in common. Sharing with each other means financial decisions are made more consciously and thoughtfully. The next time you might be making an ill-advised money decision, maybe your memory pops up your cousin’s story about overspending at the same store and then having a pipe burst at her house the next day. Making that connection could be your ticket to reality in the moment.
Back to our dinner, we did get to hear some outrageous stories that gave us all plenty to laugh about. Including a truly palm-to-forehead, only a financial blogger could do this, moment such as having to pay an overdraft fee for transferring too much into a savings account.
Here are a few other favorites, dispatched via @TFDiet’s Twitter:
The bottom line is: everyone makes mistakes with their money. We just don’t talk about it.