Welcome to reThinkable - my weekly newsletter where I share actionable insights to build a wealthy healthy life.

Estimated read time: 3 minutes and 45 seconds

My family didn't really talk a lot about money growing up.

I remember hearing my parents arguing about money, but I don't recall any of us talking about it.

I remember overhearing how much my parents paid for our car. I remember how expensive the Call of Duty video game I wanted for Christmas was, and I remember why we couldn't go on a family vacation.  

But we rarely, if ever, just talked about money.

And I'm not alone.

44 percent of Americans see personal finance as the most challenging topic to discuss, finding it harder to talk about than death, politics, and religion. 43% of Americans don't even know how much money their spouse makes.

If knowledge is power and we're unable to have that conversation, where does that leave us?

Today, I want to talk about why it's absolutely crucial to normalize talking about money with your colleagues, friends, and family if you want to build wealth. Afterwards, I'll share my 2-step framework on how to effectively do it.

💵 The Money Talk

The problem with being uncomfortable talking about money is that we do ourselves, and everyone we know, a disservice.

We're basically telling ourselves to remain blind to the one thing that hovers over every major life decision we make.

If  you're not talking about money, you're missing out on knowing:

• What you should actually be shelling out for rent

• How much extra cash to ask for in your next raise

• Tricks to get your boss to pay you what you're worth

• How much that service actually costs

• If your bills are normal or if you're getting ripped off

But more than anything, it makes all of our financial situations worse.

It contributes to people drowning in debt, preventing them from saving, and forcing them to take on more debt, creating a feedback cycle that makes them even more embarrassed to talk about money.

But studies show that:

1. Children who heard about finances at home had healthier spending habits as adults

2. Talking more about money increases your chances of financial success

If you're someone who didn't grow up discussing finances at home, here's how you can start those conversations so you can build a wealthier, healthier life.

🧩 The 2 Step Framework

Step 1: What is your goal?

When you have a money conversation with someone, start with the end goal.

Ask yourself: "What do I want to learn, and why does knowing more about this matter to me?"

Starting with the end goal helps in 2 ways:

1. The other person is less likely to feel like you’re grilling them

2. The other person understands where you’re coming from

For example, if you want to get better with your spending, you could start the conversations with:

"Hey, I'm trying to cut back on my spending and I'm wondering how you handle budgeting for stuff. Mind sharing your tricks?"

"Hey, I'm curious how people deal with their cash. You seem to have it figured out. Is it cool if we chat about it, or is that too personal?"

Step 2: Receptive or nah?

After you initiate the money talk, pay close attention to how the other person responds.

If they immediately clam up and get nervous, they might not be ready to have the conversation — you can't force someone to discuss money if they're not into it. 

If your friends aren’t up for money talks, maybe it’s time you share this newsletter with them 😁 or… it’s time to expand your social circle.

I’m not telling you to cut off your friends, but consider putting yourself in environments where doing things that help you build wealth is the norm — such as talking about money.

The more you’re surrounded by these people, the more likely you’ll automatically do them. You don't have to rely on motivation or be ultra-talented because it's just what everyone around you does.

Although it's fantastic that you're reading reThinkable, the truth is, it's not enough. Learning is only part of the equation to build wealth — the other part is taking action.

So If you're serious about building your wealthy, healthy life, the first step is to talk about money.

So join me, not as a learner, but as a doer. Take action by answering the quiz poll below and I'll share some of your answers in the next reThinkable issue.

🔎 reThink More

💪 Something’s about to happen to the labor market…

💳 36% of Americans are taking on debt for this one thing

📈 Move over inflation, upflation might be coming

❤️ Community Space

In last week’s newsletter, I asked “Why is the "Why" in Simon Sinek's Golden Circle so important?” 57.89% of you got the right answer.

The answer: Because without it, we'd just be aimlessly circling around the 'How' and 'What' like lost tourists in a roundabout.

📝 reThinkable Quiz

P.S. Here’s the 1000° C ball

If you enjoyed today’s newsletter, share it with your friends and family!

Was this forwarded to you? Sign up here.