By: Kathy Longo, CFP®, CAP®, CDFA
I am happy to confirm that my first book Flourish Financially: Values, Transitions, and Big Conversations was published just a few weeks ago and will be officially released on September 17. In writing the book, I had the benefit of reflecting on my own money story as well as the money stories of the many clients with whom I've worked over the years. Upon reflection, I identified one very common thread among all these stories—Communication. Whether it was the lack thereof, the abundance of it, or an ineffective or inconsistent approach, communication was the cornerstone of each and every story.
Why do you think money conversations are so difficult? I pondered this same question and while the answer seems obvious, as communication is the foundation of relationships, the real answer lies in something more nuanced. Money and finances come with a great deal of emotion, on top of the practical details to get along in the real world. Communicating about money and finances comes with even more emotion because one must become vulnerable and open about their strengths, weaknesses, challenges, successes, and failures with money. One must also let go of judgment to truly have an open and honest discussion about financial decisions and their impact on life.