Last week, we wrapped up three wonderful book club sessions with clients discussing Your Money by Carl Richards. A key takeaway many participants expressed was a plan to use the book to talk about money with friends and family. Because talking about money can be hard, we wanted to share some of the suggestions and ideas that came up during the discussion.
Using Your Money to talk about money
Idea #1: Give the book as a gift with a note saying “I’d love to discuss this with you.”
Idea #2: Set it on the coffee table. This is Carl Richards’ suggestion in the intro to the book. He refers to Your Money as a “conversation grenade.”
Idea #3: Take a picture of your favorite drawing and text it to a friend.
Idea #4: Start a conversation by sharing drawing #4 – We See Money Differently and ask “What’s the first thing you think of when you see a dollar sign?”
I
Idea #5: Show one of the pictures in the book to a friend and ask them what it means to them.
Idea #6: Share how one of the pictures affected you.
Idea #7: Pass it around the living room and invite each person to select a drawing and share what stands out to them.
Idea #8: Start a conversation around drawing #22, Focus Where It Counts. In today’s world with so much uncertainty and noise, discussing what matters, what we can control, and where those two overlap is sure to generate real connections.
Idea #9: If portfolio performance and hot stock tips come up, you might share your perspective with drawing #47 in the book: Boring Pays Off.
Idea #10: Highlight key sketches with a younger generation that have been key to your financial success. Many clients found truisms in the book that succinctly captured attitudes and values they’d adopted over the years. This wisdom included mistakes they’d avoided, investment behaviors that had served them well, and more. Identify two or three sketches to share with a child, niece, nephew, or grandchild. You may help them avoid costly mistakes and align their money with their values while passing your wisdom on.
Lastly, this sketch about the effort to talk about money with those we love is a good reminder. Not all conversations will go smoothly. One conversation won’t accomplish full understanding. It’s a lifetime of effort to share and communicate with those we care about. If you have a chance to look at the book and talk with someone about it, we hope it takes you one step closer to happier, more authentic relationships with them and money.