What Would You Ask If There Was No Shame In Asking?

[Jenifer Madson]

Many of the people I coach tell me that their financial challenges come from not having been taught much as children about how money works. Consequently, as adults, they find themselves holding back from asking detailed questions about what impacts their financial life, because they’re too embarrassed or ashamed to admit they don’t know the answers. So they’re feeling around in the dark, hoping it will all work out. Problem is, it usually doesn’t.

This month, we’re going to focus on some questions to ask to make real progress on your technical financial goals. For me, I needed to know the basics of how money works in stocks, bonds and mutual funds. I went years pretending to know what the investment guys were talking about when they showed up to sell us on having these things. I would nod my head in agreement because I was too afraid to let them know what I didn’t know.

It cost me a ton of money to stay in the dark. What I finally learned was to stop worrying about what I don’t know and start addressing what I need to know, so my financial curiosity now is sometimes a question, sometimes a statement, but it's always expressed in a way that gives me the specific details I need to succeed.

Examples:
“I need you to go back and explain specifically how ‘x’ applies.”
“Say more about that.”
“What are the worst case scenarios and the best case scenarios with 'x'?"
“What are some examples of how that specifically applies to my situation with ‘x’?
None of those sound or feel like “I don’t know what you’re talking about.”

Take A Minute:
What are the un-asked questions in your financial life? What do you really need to know?

Make A Minute:
Call whoever is in a money field that you need answers from, and tell them what you need to know, and try on some empowering questions.
You’ll be glad you did.

[David Sandusky]

Fear does hold us back from living life to the fullest. The emotional topic of finances is tops on the list in my mind because people are afraid of being exposed. I love your challenge to ask questions. Applying to other parts of life would yield the same confidence - hiring/getting hired, marriage...
Check out some other thoughts of facing fear here.