Myths that Keep You Broke #5

Myth #5 - It’s Rude to Talk About Money:  

You may think, and your parents may have said to you, “It’s rude to talk about money.” If that is the case, it is likely, your parents were not wealthy. Or even if they had wealth, they lacked a wealthy mindset.

People with a wealthy mindset do not feel it is rude to talk about money. They teach their children how money works, often by example. They talk about money with their peers to either brag or to support one another.

They talk about how much they pay staff; how much they paid for the country club membership; what investments they’ve made; what they earn on various investments; and the deal they got on the car they purchased or the jet they leased.
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Sure, some of it might be bragging, but the point is they do not see it as rude. It might look like this: “You might want to consider buying into XYZ Corporation because at the rate they are growing they could have a stock split in the next 12 months. I just purchased 1000 shares.”

Another example is when I am talking with other apartment building owners. I might ask what they get for a 1 bedroom apartment in the city and they might say, “$1695 per month.” My reply might be, “That’s $100 more per month than I am getting. I should look into that.”

Now if you are a tenant, and asked that question, you would not get an answer. But from one apartment building owner to another, we will talk about money. We will talk about how much we pay our plumber, our roofer, our handyman, our pest control, our utilities and more.

Again, wealthy people do not find it rude to talk about money. We are exchanging information to help each other.

Do you have people you can talk to about money even if they are not wealthy? If you don’t, where can you find people like that?

To Your Prosperity,

Rennie