Black Immigrant Daily News
In these modern times with savvy communications tools, it is unfortunate that discussions about money are still considered taboo, especially as it relates to income, wealth, savings, life insurance or personal finance goals. The team of financial wellness experts at SamuelFields Consulting Group (SFCG) believes however, that financial conversations are important and that the best way to increase financial knowledge is by “sharing it and not saving it for yourself.”
“Based on our culture, money is a topic that many individuals are guarded about or are uncomfortable discussing. Yet, if we avoid learning, examining and growing in this important area of our life, other areas of our overall well-being will be affected. Everyone is not necessarily comfortable talking about money, but if you are open to exploring ways to improve your personal finances, without the sugar coating, you can begin to build trust and improve your knowledge, through an honest exchange of information,” said Megan Samuel-Fields, CEO of SFCG.
SFCG will host the virtual Financial Wellness – TLC Conference on March 2, 2023 to offer participants greater opportunities to Talk, Learn and Commit to better financial habits and a healthier lifestyle. To register visit: www.samuelfieldsconsulting.com
The Financial Wellness – TLC Conference will feature:
Masterclasses, networking sessions and wellness breaks that highlight financial strategies to address different lifestyle circumstances;
An impressive speaker line-up featuring dynamic local, regional and international subject matter experts and influencers;
Topics that address banking, budgeting, savings, credit, debt and investing — key pillars that underpin the most important financial decisions;
Earn CPD Credits or an eBadge of Completion.
Samuel-Fields, a financial wellness expert, believes that in any relationship, discussions about how money should be budgeted and spent, can help avoid conflict and long-term stress. “If one person is a spender and the other is a saver, or if one person finds debt objectionable while the other finds it to be a useful tool for building credit and equity, this presents a conflict of financial values,” Samuel-Fields stated. “By sharing our values about money and experiences about our financial journey, we can inspire each other to make better financial decisions.”
SFCG’s CEO posits five reasons why “straight talk” about financial matters is important:
Learn helpful budgeting tools and tricks from your community. A financial advisor can offer tips but it’s also worth talking with friends and family about how they manage their finances and establish budgets. Discussions about their strategies for paying off debt and other money matters can be insightful. While you may not agree, by sharing your ideas everyone benefits.
Gauge whether you are underpaid for your work. Paycheck discussions are still uncomfortable for some, but respectful, candid discussions about income, can be beneficial. It lets you know where you stand relative to other working professionals, and this can motivate you to ask for a raise. Even if you aren’t comfortable referencing exact numbers—you could gather the evidence you need to make a strong case for higher pay or to pursue new opportunities.
Accountability. Hold friends and family members responsible (and vice versa) for financial actions. Sticking to a budget and other financial plans isn’t always easy. But hiding purchases and spending habits is an even greater risk. That’s why it is important to have frank conversations about money with close friends and family members, especially your spouse. Straight talk makes for better understanding about money. It can also provide the motivation needed to stick to a tough financial plan, keep you accountable and celebrate your wins as you make progress towards your financial goals.
Dispel the stigma that comes with talking about money. Although financial conversations may be uncomfortable, money is a subject that everyone must deal with, no matter where they stand financially. Candid conversations ensure a free flow of information that ultimately benefits the people that are involved. The more you talk about money, the more you can open doors for others to do the same.
Help young people develop strong financial literacy skills by example. The best way for parents to educate children about finances is by modeling healthy, smart behaviors and being open. Children will develop greater confidence talking about budgets when they are introduced early to money basics. They will absorb wisdom and confidence and enter adulthood better prepared to manage their finances.
The Financial Wellness – TLC Conference platform will encourage greater dialogue and help relax any hesitations about discussing money. Financial experts and influencers will present pragmatic solutions to help participants commit to their financial goals. Take the Quiz to assess your financial wellness and determine if the Financial Wellness – TLC Conference is for you. Click on: http://bit.ly/3E5jTjh.
About SamuelFields Consulting Group (SFCG)
SFCG’s dedicated network of experts provides a wide range of professional services, including financial planning, accounting, auditing, financial education, management and marketing. We help our clients maintain financial security through sound investing, saving and lifestyle choices to achieve financial independence. As a Community eLearning Partner, we promote financial literacy for all and we are committed to “turning learning into action.”
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