What's the absolute number one topic you don't want to discuss with your family or friends? Religion? Politics? Sex?
Nope. The odds are really high that it's actually that old-fashioned bugbear — money.
Even good friends and close relatives hate to talk about money. Nobody wants to burden anyone else with their financial problems. Everybody is afraid that a request for advice or a desire for empathy will be taken as "poor-mouthing." (Or worse, your friends and family members might think you're asking for a handout.)
For about 44 percent of the population, talking about their financial woes is a humiliating prospect that they avoid at all costs. They'd much rather fret quietly about their situation than ask for advice or information that could help them.
This is known as "money silence." It is such a cultural imperative in American society that people frequently don't break the money silence until they're facing the repossession of their car, the foreclosure of their house and wage garnishments so big that they can't afford to put groceries on the table. In other words, they're only willing to talk about their financial troubles with others once they're in full-blown crisis mode and it's painfully obvious that they can no keep their financial woes to themselves.
This aspect of American culture has contributed to an alarming problem — the financial illiteracy of two-thirds of the country's population. People simply don't have the resources to make good financial choices, even when they have the money and aren't in a financial pinch. They definitely don't have the resources to handle crises when it gets tough during recessions or government shutdowns.
If you've been putting off talking about your financial troubles, realize that there are debt relief options out there, regardless of whether you're facing repossessions, garnishments or worse. Contact our office and talk to an experienced legal representative about your situation. Let us guide you to a better future through the use of tools designed to give consumers another chance.