Let’s have a conversation about money (tips for talking to friends & family)
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Why is talking about money so important?
Property investors often talk about using debt to build wealth. In the share market, that's called gearing. With the BetaShares WealthBuilder range, investors can access moderate gearing into shares, and with the newly launched GG-BL, That means exposure to a diversified portfolio of around 1,300 global companies excluding Australia, all with no loan applications, credit checks, or margin calls. Gearing magnifies both gains and losses, so it's only suitable for investors with a very high tolerance for risk. You can learn more about the WealthBuilder range of ETFs at the BetaShares website. And don't forget to read the PDS and TMD to decide if it's right for you. BetaShares Capital Limited is the issuer.
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You'll find our full disclosure, disclaimer, and link to our financial services guide in the show notes.
Hello, I'm Kate Campbell. And I'm Owen Rask. And you're listening to the Australian Finance Podcast.
A podcast where we talk about money, finance, investing and all that good stuff.
We're helping you invest your time and money better one podcast episode at a time.
Yes, so please subscribe if you like the series. And don't forget you can find us on social media. We're on all the platforms. Kate, where can people go?
You can find us on Instagram and Twitter at Rask Australia. That's R-A-S-K Australia.
And I'm Owen Rask on Twitter or Owen Rask AU on Instagram. Beware the imitators.
What are some strategies for discussing finances with friends and family?
People like to copy us. Without further ado, let's jump in to today's episode. Kate Campbell, welcome to this episode where we're talking about money, but we're talking about talking about money.
Yes, a very important conversation to start thinking about and thinking about different ways you can have this conversation with friends, family, flatmates, houseplants, whatever you want.
Plants.
Yeah, sometimes it's easier to talk to a non-real thing to start with.
I was more thinking about the plants.
The plants.
I always thought they were called plants. Yeah, plants, plants, palmy, palmer. I mean, it's open debate. But given that we're here in Victoria, it's plants and it's palmer, just so you know. Anyway, we're talking about money. We're talking about finance. We're talking about investing because we are talking about the thing that's probably the hardest thing for all of us. I think, Kate, that the reason our podcast exists and the reason that at the time of recording 110,000 people – tune into our podcasts every month is that we can talk about money in a safe space. And one of the hardest things to do is you go and listen to this podcast, you learn about super, you become a master of ETFs, and then you go and you talk to your friend, a family member, your partner, your kids, your parents.
They don't want to hear it.
They didn't, they want nothing to do with it. It's like gambling. How do you break down that barrier and how do you support them? from a distance, basically. And so, we're going to talk about that today. And we're going to talk about some strategies and some things to get you thinking and to maybe try out on them. You've had an experience recently where you tried to talk to someone about money and they were very open. And that's probably rare, it's safe to say.
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Chapters
8 chapters
1
Why is talking about money so important?
0:00–2:12
2
What are some strategies for discussing finances with friends and family?
2:12–4:09
3
How can you break down barriers to money conversations?
4:09–6:40
4
What role does kindness play in financial discussions?
6:40–8:27
5
How can education empower financial conversations?
8:27–10:21
6
Why is patience crucial when discussing money?
10:21–12:06
7
What are effective ways to introduce financial topics?
12:06–14:32
8
How can you support others in their financial journey?
14:32–39:41
Speakers
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Sounds like good money advice... But is it?