1/ A few thoughts on "talking about money" inspired by this excerpt from @atugend's article in the NYT last month. 
2/ At some unknown time in the past our society decided talking about money was taboo.
There is virtue in this. Some have less than others, and no one with more wants to rub this in the face of others.
Those w/ high net worths should be cautious about sharing.
There is virtue in this. Some have less than others, and no one with more wants to rub this in the face of others.
Those w/ high net worths should be cautious about sharing.
3/ But we've missed a happy medium.
The unfortunate and unforeseen consequence of not talking about money is that the only way left to judge success left is by outward appearances - what we wear, where we live, what we drive, what vacation pics we can post on Instagram, etc.
The unfortunate and unforeseen consequence of not talking about money is that the only way left to judge success left is by outward appearances - what we wear, where we live, what we drive, what vacation pics we can post on Instagram, etc.
4/ I believe this added psychological fuel to our spending habits and helps explain why Western consumers have turned to debt to spur our consumption habits.
5/ If we were more open about money -- talking equally about our struggles w/ debt and triumphs w/ savings -- I think this could go a long way towards curbing our own consumer appetites -- mine included.
6/ All -- not some -- should say we're focused on the wrong things if we're looking at the "outward signs" of wealth. But this will only happen if we start having more open and honest conversations.
Related: @TMFStoffel offers up some excellent thoughts on consumption and hedonic adaptation here:
fool.com/investing/2019…
fool.com/investing/2019…
