Why Moms Should Talk About Money
Thanks to Suntrust for sponsoring this post! And for spreading a message that needs to be heard. You guys rock.
Money can be a taboo subject in our culture. It's rude to discuss your salary with others, it's uncommon for families to discuss finances and even kids rarely get a peek into their parent's financial life.
The reasons differ for everyone. Maybe Moms don't want their kids to stress about finances. Maybe you don't want to make your friends uncomfortable, either with your debt or your success.
Before I started the Busy Budgeter, I didn't know anyone who was really struggling financially. I'd never asked anyone to go to dinner and had them respond “I'm saving money right now”.
I understand why we don't talk about money as a society. I understand that it's weird to tell someone you can't afford to do something. After all, there's always credit, right?
35% of adults under 35 are extremely stressed about money. Over 70% of Americans identify as financially stressed. 80% of people admit that financial worry keeps them awake at night. You can see more survey results here.
And no one is talking about it. We're still paying for expensive weddings, and going out to dinner, and buying new cars because we feel too embarrassed to say “I can't afford it”.
I know why we don't talk about money, but we're hurting ourselves and our friends by not talking about it. If your kids grow up and have no idea how much you make, or how you choose to spend it, how in the world do you expect them to grow up and manage their own finances?
Do you think schools will teach them? Did your school teach you? Mine certainly didn't.
I was a financial and organizational disaster six years ago. We fought tooth and nail to pay off more than $40,000 worth of debt, reduced our spending by $23,000 a month, I quit my job and started a successful business that now makes much more than I ever could have made in my former career.
All of that happened, because I owned up to my debt and my spending and committed to saving money. It certainly didn't make me cool. But it made me happy. Really happy, and eventually it made me successful.
I was so blessed to have a mom that saw that I was struggling organizing both my time and my money. She talked to me about it. She taught me how to shop at thrift stores, make simple substitutions and to be true to who I am and where I am in life.
She's the type of woman that proudly tells everyone that she meets that she paid $2 for her sweater.
Be like my mom.
You are not your money. Your worth is not defined by your bank account. Your worth is defined by you. You decide what makes you important.
Own your situation, whatever it may be and understand that you are not alone. 70% of Americans are in the same situation! That means 7 out of 10 of your friends likely also need to save money. But they're worried about what you may think.
We need people to make a stand. To commit to saying no more.
No more expensive restaurants I can't afford.
No more $35,000 weddings on credit.
No more houses that I can't make the payments on.
What you'll get from this commitment is more than I could ever tell you. It's never worrying about an unexpected bill. It's knowing that your family will be taken care of no matter what. It's the ability to say no to a job that you hate and create a business that you love.
Suntrust had a Super Bowl commercial this year that made me just stop and watch mesmerized. I'm posting it below.
They have an OnUp movement that's been gaining traction and growing since February. It's all about to committing to change. To not hiding behind excuses. To setting the balls in motion so that one day, you're one of the 30% that doesn't worry about money.
This is a message that I can get behind.
You can sign up for the movement here.
Your mission is simple. It's not complicated but it's also incredibly hard.
Own it. Look around you. At the debt, and the stress. And just own it.
Because you are never going to be here again.
You can do it.
We can help.
At SunTrust Bank, their purpose is lighting the way to financial well-being. When you feel confident about your money, you can save for your goals and spend knowingly on what matters most to you.
The onUp movement was created to guide millions of people one step at a time towards a more financially confident life without ever losing sight of the moments that matter along the way.
Join the growing number of people transforming their stress into positive motivation to move onUp.
This is a sponsored conversation written by me on behalf of SunTrust. The opinions and text are all mine.