Money Mentor: A Trusted Financial Companion
Money Mentor: A Trusted Financial Companion
June 12, 2020 by One Frugal Girl
Where do you go when you need to talk about money? Do you have a money mentor in your life? A trusted source who can listen to your financial questions and provide you with monetary guidance.
It doesn’t matter if you are financially savvy or have absolutely no idea how to manage your money. We all need a way to bounce ideas around with someone who is willing to listen. A money mentor allows us to talk about money matters and financial decisions without judgment or worry.
Money Mentor
What is a money mentor? A money mentor is a friend, family member, or coworker who openly talks about money. A financial companion who shares ideas about money management, budgeting, spending, and saving.
A money mentor shares their knowledge and experience. They help us think through difficult financial topics and questions. By learning about financial experiences we can make better, more informed decisions.
A money mentor can act as a sounding board for questions like:
Does it make sense to save for retirement while paying off my student loans?
How much should I save for a downpayment on my first house?
What is the best way to ask for a raise?
Money mentors are not trained, financial advisors. They do not charge fees. They are simply close friends, companions, and financial enthusiasts who allow us to think through money matters with ease.
Talking About Money with a Money Mentor
Very few of us feel 100% confident and comfortable with our financial decisions. We worry about spending, saving, debt, and retirement, but we rarely discuss our financial concerns. As long as money remains a taboo topic most of us continue to remain silent about financial matters.
Unfortunately, closing the door on financial conversations forces us to make vital decisions in the dark. We take our best guesses rather than openly discussing our thoughts and ideas with those who can guide us.
Wouldn’t it make more sense to talk to a trusted source about our financial concerns?
Easing Financial Anxieties with a Money Mentor
Why don’t we openly talk about money? Why is money still a taboo topic? Discussing financial topics can be extremely difficult, downright scary, or absolutely anxiety-inducing. Unfortunately, we live in a world where many people equate net worth with self-worth.
This can lead many of us to feel embarrassed by debt, low salaries, or bad financial decisions we’ve made. When we discuss financial figures we open ourselves up for comparison. We worry that others will view us as less important or less capable. But it is this shame and embarrassment that leads us to make financial mistakes in the first place. When we are ashamed to speak up we cannot learn, grow, or do better.
To continue reading, please go to the original article here: