Archive for October 29, 2007

Do You Have a Financial Confidant?

Everyone has their own level of comfort when it comes to the topic of finances. Take for instance, buying a new house. I have two good friends who I’ve both known for years and years. One told me the listing price of the house she wants to buy, while the other provided every detail of the house except the price. Why does one friend feel comfortable in quoting the price when the other one doesn’t? Is she uncomfortable telling me the price? Does she think it will provide insight into her finances? Does she think it’s a taboo topic that shouldn’t be discussed? Or does she simply think that no one needs to know?

I’m always amazed by how open or shut friends and family are about their finances. For instance, a few weeks ago a former co-worker and I met up for dinner. First he told me his previous salary, then his current salary, and lastly what he’s been offered at recent job interviews. I didn’t ask. He just offered.

Most of us avoid discussing our finances with others. As money remains a taboo topic few feel the urge to announce salaries or provide the details of net worth. I don’t normally discuss these topics either but I do discuss general financial issues and concepts quite frequently with quite a few people in my life. Included in the list are my husband, my parents, my in-laws and a few good friends. There are certainly some people who remain off the list including siblings. There are many reasons not to discuss money, but jealousy and sibling rivalry are probably the biggest ones.

I sometimes wonder if people would share greater details about their finances if they knew I maintained this blog. Recently I outed myself to a good friend after she discussed her financial situation in detail. She is the only person, other than my husband that I’ve ever told about this blog, and it has opened the floodgates for us to discuss financial issues. I feel as though I’ve become her financial confidant, but we’ve been good friends for years, and honestly, prior to this discussion there weren’t too many taboo topics between us.

I wonder though, as I write and read more on the topic of personal finance if I will become more open on the topic. I don’t plan on declaring my salary to the world, but as time progresses I find myself providing more and more financial details about myself. In fact, if I were buying a house I’m sure I’d mention the purchase price.

October 29, 2007 at 2:27 AM 10 comments


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