Lets have a chat about Money
This week we have presented content from our Monthly Investment Newsletter.
Kia Ora. Ko te herengi wiki.
Last week was Money Week in New Zealand, an annual event designed to raise awareness of financial issues and literacy. This year it also coincided with Maori Language Week where people are encouraged to speak more Te Reo – to give it a try. Interestingly, the theme of Money Week this year was also about communication and encouraging New Zealanders to talk about money with their taupuhi (loved ones), whanau (family) and tamariki (children).
Many of you reading this will be planning clients, so have already experienced the benefits that come from openly discussing money with your partner or a trusted friend. You will know how being open and honest about your finances makes it far easier to make smart decisions that result in both a sense of, and the reality of, ‘financial well-being’.
But it is far from easy for most New Zealanders to openly discuss money with others. Particularly so if you are better off than many others, or instead, if you are embarrassed about your financial circumstances. If you are the former, whilst our society happily puts successful sports people on a pedestal, it rarely wants to praise or celebrate those who have had great financial success.
This double standard is part of the reason so many just stay quiet about money. But, how much better might it be if those who have found financial success were encouraged and celebrated when they shared their ideas, successes and failures? How wonderful it would be to see children not only practicing sporting moves that emulate their rugby, netball or sailing idols but also regularly being involved in, or talking about, financial ventures with their peers or parents?
So, today, tomorrow or on the weekend, as well as finding time to be indoors or outdoors practicing or participating in sport with your tamariki or mokopuna (grandchildren), start to build a habit of talking about and showing them about money.
As always, if you would like to talk with us about money - please don't hesitate to get in touch with us at info@foxplan.nz.