The Power of Vulnerability: Breaking the Taboo Around Money

In 2018, a survey was conducted by a company called Capital Group of about 1,200 American adults, asking them what topics are too taboo to discuss with friends. Respondents overwhelmingly indicated it was those topics connected to money. So household earnings, retirement savings, inheritance, and debt. Other topics such as politics, drug addiction, racial issues, mental illness, sex, and religion, were considered significantly less taboo. 

Why do we shy away from talking about finances? From a young age, we are taught that it is impolite to discuss financial matters, especially as women. But what if there are deeper insecurities at work, like comparing ourselves to others, feeling inadequate, and fearing the judgment that comes with it? Because many of us weren’t taught out to manage money this adds to our vulnerability around the topic.

What if we took our idea of vulnerability and shifted it to measure courage and growth? What if we started to have more open conversations about our finances? Drawing inspiration from renowned vulnerability researcher, Brene Brown, let’s explore the power of vulnerability and its implications on our relationship with money.

Vulnerability is often seen as weakness, but what if we started to view it as an act of courage? Being open with others requires taking risks and exposing ourselves emotionally. If we reframe our idea of vulnerability as a measure of courage, we can begin to see its value in our lives. Managing money requires bravery because we have to tackle unfamiliar concepts, face our insecurities, and be willing to learn from our failures. 

Did you know that our brains are wired to create stories to make sense of uncomfortable situations? These stories are not always based on reality, but when it comes to money, we often tell ourselves negative thoughts like we are not smart enough or too inadequate. It is important to examine these stories and question their validity. When we do a reality check, we can challenge our negative self-perceptions. This will allow you to approach money with self-compassion.

To break the taboo around money, we must engage in an open and honest conversation. When we share our experiences and ask questions, we are creating a safe space for vulnerability. We need to approach these conversations with empathy and without comparison. Normalizing money discussions will allow us to learn from one another, gain different perspectives, and ultimately feel less alone in our financial journeys. 

It’s time we start to examine the stories we tell ourselves about money for our personal growth. When we challenge negative narratives and do a reality check, we can break free from self-limiting beliefs and develop healthier relationships with our money. By opening up and seeking vulnerability, we can allow self-reflection and self-compassion giving us a greater sense of confidence and empowerment. 

Open conversations around money have the open to normalize the taboo and stigma around finances. When we share our experiences and ask questions we are creating an open and collective environment free from judgment, shame, and negativity. When we create these supportive communities, we are encouraging and saying that vulnerability is normal, common, and we are here to help you past that. 

This shift in societal norms allows individuals to seek help and guidance without fear of judgment. It fosters a sense of connection and understanding, ultimately leading to greater financial well-being for all. Vulnerability is a powerful tool that can help us break the taboo around money. 

As we continue to embrace vulnerability, it’s important to remember that managing money is a lifelong journey. When we approach this topic with self-compassion and a willingness to learn from our failures, we are giving ourselves permission to transform our relationship with money. By normalizing money conversations and supporting one another with their vulnerability, we can collectively navigate the complexities of personal finance and build a more financially empowered society. 

If you’ve enjoyed this blog, check out my podcast, Money Isn’t Scary where I help people overcome their fear and negative associations with money by empowering individuals to take control of their finances.