Lending Club Blog

Talking about money: How much is too much?

Growing up in my family the issue of money was rarely, if ever discussed. My middle-class parents worked hard, but if they struggled with bills or money issues, they certainly never shared any of those struggles with me.

I really wish they had.

In school, I never learned a thing about a “credit score.” If someone had asked me about “FICO,” I would have thought they were talking about their dog. It wasn’t until my junior year of college that I really began learning how the credit system in our country works. And it wasn’t until this year, at age 24, that I finally created a budget!

I imagine that, like myself, the majority of Americans worry, fret, and have some level of concern about their financial situation. So…why don’t we talk about it more? Sure, we read articles like this online, and subscribe to magazines like Money and Forbes…but do we ever talk to our neighbor about our sky high interest rates? Or a close friend?

Maybe. Maybe not.

If most of us are in the same boat (student loan debt, credit card debt), how come we don’t talk about it more? Are we afraid of being judged? Of being labeled a debtor? A failure? Maybe we are afraid, but debt and our financial worries aren’t going away anytime soon. So why not share the burden with your neighbor or co-worker? You might just find someone in the same situation as you.

What do you think?

Do we talk about money enough in our family, friend, and work relationships? Do we talk too much?

Tuesday, September 25th, 2007 at 10:45 am

Comments (1)

  1. DebtKid – This is an excellent topic for discussion. I know that my
    family did not discuss money much when I was growing up. I know I
    was very naive about money until after college. As a dad, I am
    trying to figure out the right balance for my kids too. I think
    there is a balance to be struck – give them enough to understand,
    but certainly do not review net worth calculations at the dinner
    table. I do not want my kids to have to worry about our financial
    situation, but I do want them ready to think about managing theirs.
    Patrick from Lending Club

    September 26th, 2007 at 7:40 am

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