You will always be broke if you're making these same money mistakes that
the majority of people out there are on a daily basis sadly many people want to
live in a much better financial reality but they aren't willing to change their
money management approach and that's why they'll be broke forever luckily boss in
this video i will share with you a particular money mistake that will keep
you broke forever and if you're new to the channel then hit the subscribe
button below for more life-changing content
money is undoubtedly important in our lives we use money to buy the things
that we need and pay for services that improve our day-to-day lives however as
important as money is many people find it hard to talk about money discussions
about money tend to stir up a lot of intense emotions hence people's aversion
to this line of dialogue to many not talking about money is the best way to
avoid this issue but what they don't realize is that not talking about money
is a big mistake that can keep anyone broke forever in fact talking about
money can bring lasting rewards which is why i now want to go over five reasons
why talking about money can benefit you and improve your overall financial life
benefit number one talking about money can motivate you the first benefit of
talking about money is that it can help motivate you have you ever been in a
room full of people who are all quiet then suddenly someone brings up a topic
and everyone seems to have something to say the person who started the
conversation may not even be the person who has more knowledge on the topic this
phenomenon definitely relates to talking about money because of the way most
people are raised they may not start a conversation about money but they will
gladly contribute when someone else raises the topic talking about money
especially to people who are already successful can motivate you for example
if you have a limiting belief about starting a business someone who is
already successful in such a business could share insights and make you see
different avenues that you can take to succeed yourself another example of how
talking about money can motivate you is when you are faced with difficult
financial situations sometimes such situations may seem
unique to you until that is you talk to someone else dealing with the same
challenge for instance maybe your first business just failed and you're thinking
of giving up once you hear others admit that they were only successful at their
fourth business you may find reasons not to give up
knowledge is power and sometimes the only reason why you are not motivated is
that you don't know what to do you may be working in the same office with
people who have knowledge about making money but you won't get to tap into
their knowledge without actually bringing up this topic with them when
you talk about money people will share their ideas and you may be surprised at
the level of knowledge that you will gain they can offer you tips on how to
save more money or tell you about how they created a budget that works they
may also share with you where they buy things to save more money or new ways to
make more money like most fears you can easily overcome your fear of talking
about money all you have to do is to change the mindset that makes you
believe that people don't want to talk about money the truth is that most
successful people are ready to share their stories if someone is willing to
ask you can start a conversation by asking simple questions like what they
think about having a budget benefit number two talking about money
can add tools to your toolbox if you grew up in a poor home you may
find it difficult to talk to people about money while this is not your fault
you have to understand that talking about money can add tools to your
toolbox people who grew up in a rich family are usually more open to talk
about money and share their views people who talk about money can easily get
other people's opinions and suggestions that may benefit them greatly for
instance there's a story of two good friends who teamed up to build a great
company the two of them found out that they had similar passions for technology
and gadgets however one of them realized that he was better at marketing while
the other friend was better at the technical aspect of the business these
two friends are steve jobs and steve wozniak who started apple in 1976.
these two friends must have been talking about money to realize that they need to
specialize based on their strengths talking about money will help you learn
from others you can learn from their mistakes and avoid making the same ones
you may read several books that talk about money but they cannot be compared
to a discussion with someone who has the experience a book may tell you that you
should save money for retirement but talking about money with someone who has
saved for retirement will help you learn the exact steps that person took to be
able to save money for their golden years moreover when you are having a
good conversation about money with successful people they may likely share
with you some strategies that will help you expand your income for instance you
may be able to generate new business ideas from the conversation some of the
secrets you will learn by talking about money with successful people may be
things that will contribute to your success right now
benefit number three talking about money can help you identify your value another
way talking about money can benefit you is that it can help you identify your
value it can be a touchy subject to talk about money with friends and colleagues
but it can make all the difference in your career what do you do when you're
going to a new place that you've never been to before you get a map or you ask
people for directions you don't feel ashamed for asking because you don't
know that is the same way it should be when you're talking about money talking
about money is like a map and you may get to find out so many things that you
didn't know about money by starting the conversation talking about money can
help you learn how much you should be earning as a salary or how much you
should be charging as a freelancer for instance you may find out that you are
being underpaid by talking to someone who has a similar role as you
researchers found out that some people are more willing to go to a dentist than
negotiate and 8 out of 10 people dread visiting a dentist what this means is
that people are more likely to face their fear of visiting a dentist than
facing their fear of negotiating with others however talking about money is
one of the ways to overcome this fear and ask for what you truly deserve
the truth is that most people get a raise at times when they ask listening
to those who have been in similar situations share their experience might
give you enough confidence to know what to say
when asking for a raise either from your employer or as a freelancer another
aspect that is difficult for some people is how to start a conversation about
money you should keep it simple and be genuine you could walk up to a more
experienced person in your company and ask them if it's okay to talk requesting
that they share with you secrets on how to increase your performance at work to
warrant future salary increases benefit number four talking about money
adds transparency to relationships money is one of the leading causes of divorce
today yet most couples seldom talk about it talking about money adds transparency
to relationships especially intimate ones like marriages whether you're in a
business relationship or a love relationship talking about money can
help you understand whether you share these same values with your partner
money is attached to emotions more than most people think every individual has
their own story and experience as well as the value that they place on money
therefore when people with different backgrounds come together they must
learn to start talking about money if they want to make the relationship last
some people believe that as long as they don't talk about money that they will be
fine but that is rarely the case when you don't talk about money you are
hiding your true emotions and one day you won't be able to keep in these
emotions any longer which could cause serious fights or separation it is best
to start talking early in a relationship to avoid arguments about money a partner
may decide to spend money on a particular item and the other partner
may see it as a waste of money one may want to donate to a charity and the
other partner may think it's unnecessary when you talk about money you're going
to find common ground where you both agree on how to manage your money
moreover did you know that talking about money can help you get out of debt
faster if you are married for instance your partner may understand you better
when you talk about money together your partner may stop you from making
financial decisions that may negatively affect your finances and since they know
your financial status they're likely not going to put any undue pressure on you
to spend money another advantage in talking about money with your partner is
that it helps you build trust partners who share how much they earn with each
other will likely trust one another more than those who do not share how much
they earn if a partner talks about money and reveals how much he or she makes the
other partner may do the same and may share how they spend it
benefit number five talking about money allows you to learn and then teach
others one of the best ways to learn is by
teaching others therefore one of the best ways to learn about money is when
you talk about it and teach others as you begin to teach others you begin to
develop a deeper understanding of the subject the best way to understand how
this works is to think of driving a car you may find it difficult at first to
learn how to drive a car but it looks so simple when you are the one teaching
others how to drive sometimes you may wonder why they are not getting it
because to you it's now second nature when you start talking about money you
begin to gain clarity about money as a whole when you talk about money you try
to explain with these simplest terms possible for others to understand you
this will expand your knowledge on the topic each time you talk about it it is
also possible that people will ask you questions when you talk about money the
benefit of this is that your brain will try to make several connections from
previous knowledge to find answers to the questions what this does is that it
strengthens your understanding of the topic it is also possible that you will
learn something new from the questions for example someone else may also
contribute and their answer will be different from your own this is the
secret of teachers who seem to have more knowledge than everyone else does the
reason for this is that they talk about what they know often if you want to know
more about money then you must start talking about it too as you've seen in
this video talking about money has several benefits many of which you can
begin to enjoy today hey it looks like youtube thinks this next video is the
one that will change your financial life forever give it a watch and let's see if
they're right