260: How You Talk About Money Matters (7 Steps to Wealth, Step 3: Speak)


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Oct 29 2024 36 mins   2

I often say there are two worlds of money: the one that lives in your bank account, and the one that lives in your head. And the only way to make that second world real is to talk about money, which many people are hesitant to do.

But I have been behind the scenes of so many peoples’ bank and investment accounts, and deep in conversation about their money stories. Over the years, I have witnessed firsthand the power of words when it comes to creating their reality–and financial future.

I’ve watched a client shift from saying “money is easy come, easy go” to “money is easy come, easy stay, easy grow,” and before long her account balances synced up with that mantra.

I’ve also had clients report that they stopped fighting with their spouse about money once they started talking openly about it–and they were able to accomplish so much more when they were on the same page.

Talking about money might seem like a tiny, negligible part of your wealth building experience–but it’s not! It’s transformative, and that’s why the third step of my 7 Steps to Wealth framework is Speak.

In this episode, you’re going to hear the nitty gritty of how my upbringing and money story influenced my financial outcomes, how I rewrote that story by changing the way I spoke about money, and you’ll walk away with new, empowered ways of thinking and speaking that you can use to replace old money stories that don’t serve you.

You really can lead your experience and results with money with your speaking, and changing the words you use will change your life. Listen to this episode and you’ll understand why!

Here’s what you’ll learn in this week’s episode of Love, your Money:

  • 4:13 Where your money beliefs come from, how they show up in your financial life, and why it’s so important to talk about money
  • 6:00 How my upbringing shaped my money beliefs and behaviors, and how I created a different financial reality by changing the way I speak
  • 10:57 How my money conversations changed when I met my husband, and why talking about money is so important within romantic relationships if you want to be in full financial partnership
  • 12:52 Stories of people who changed the way they spoke about money–and their financial outcomes–and how the way you speak can keep other people from sabotaging your wealth
  • 15:38 How talking about money shows up in the way we raise our daughter–and how we hope that impacts her experiences in life
  • 19:02 The most common ways I see people sabotage their wealth with their words, and why I don’t take private flights to Paris (even if I can afford it!)
  • 21:35 The tension between virtue, wealth, and financial fulfillment
  • 23:48 Empowered ways to think and speak about money that you can use to replace old money beliefs and outcomes
  • 28:45 Actions you can take to support the Speak step–and prompts to start these conversations with the people in your life

Show Notes
To get access to the full show notes, including all the resources mentioned, visit: https://hendershottwealth.com/podcast/money-matters-7-steps-to-wealth/

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Hendershott Wealth Management, LLC and Love, your Money do not make specific investment recommendations on Love, your Money or in any public media. Any specific mentions of funds or investments are strictly for illustrative purposes only and should not be taken as investment advice or acted upon by individual investors. The opinions expressed in this episode are those of Hilary Hendershott, CFP®, MBA.