Joining a group such as The Penny Hoarder Community pretty much indicates that personal finance is a topic that interests you. But still, it can be really difficult to talk to others in your life about money.
I write about personal finance for a living, but one thing I’m currently struggling with is initiating a money talk with my mom. I’m concerned about whether she has her financial affairs in order and I’m not sure what financial support she might need from me and my siblings as she gets older. For me, it’s hard to confront the emotional aspect behind my mom aging and I don’t want to overstep boundaries because I’m the child, not the parent.
Erin Lowry’s latest book — “Broke Millennial Talks Money” — has an entire chapter dedicated to how to ask your parents if you’ll need to take care of them financially. I’m thinking I might borrow one of the prompts from the book to start the conversation with my mom.
Have you been avoiding having a money talk with someone in your life? What is the biggest thing that’s holding you back?