A recent conversation with a girlfriend about money made me realize how much further we have to go with money conversations with those we trust. It also made me realize how much further we have to go in Banking and Personal Finance to garner the trust of of our clients and have the conversations where we openly share our experiences and qualifications to be able to advise. This is a conversation that is rarely had in banking, though I encourage everyday so that clients and community alike know how our career, educational and personal backgrounds make us qualified, educated and experienced to advise on money matters.
When you reflect back on where you've learned your money habits and routines, most of the time we have learned them from friends and family as opposed to experienced Financial Advisors. This information can come from an array of people with different backgrounds that, as much as it seems that these loved ones have your best interests at heart when it comes to your money, may not be the most qualified or experienced to advise.
This is where formal an informal money conversations come into play. Many of my readers are very social media savvy. So I pose this question, of the "Finance Experts" you follow or rely on for financial information, what qualifications do they have? Of those friends and family you trust to have money conversations with, how well are they doing for their clients? What is their track record of success? What are their financial backgrounds?
Before working with just anyone on your money matters, I encourage you to have these conversations: ask what qualifications the advisor has, ask about their work experiences, ask how they have performed for their existing clients and what they can do to serve you. Any questions on creating and having money conversations, please feel free to direct message me and let's have a conversation. Signed, Filipina Budget Girl.