Author of the “Broke Millennial” book series, Erin Lowry, explains why money conversations can be so uncomfortable. She discusses the unique money challenges that millennials face and offers practical strategies so you can have important conversations with your parents and your kids about their financial future. She says if you’re not looking forward to regular money check-ins with your spouse, try ‘temptation bundling’ and find something you both enjoy while you have that difficult conversation. From how to tell your friends you can’t afford their lifestyle to how to ask your parents if they can afford retirement - Erin shares tips on how millennials and their money can get along!

What you will learn:

• When and how to ask for a raise
• You have an emotional relationship with money
• Talk about money before you need to
• Pick the dream school for your dream life
• Redefining ‘generational wealth’
• How to talk to your children about money mistakes
• Focus on your situation today
• Everyone makes mistakes with money

Quotes:

• “It is so fascinating to me that we do just constantly talk about money, but we don’t acknowledge that we constantly talk about money.” – Erin Lowry
• “Whether or not we understand what our personal relationship with money is, whether or not you acknowledge it, you have one and the way you interact with money is dictated by that dynamic.” – Erin Lowry
• “This process, which is also again, part of the reason I keep reiterating: talk early, talk early, talk early. So that decisions are not being made in duress.” – Erin Lowry
• “I went to the school that gave me the most scholarship money so I could graduate debt-free and therefore be able to take more risk upon graduation.” – Erin Lowry
• “Money is a tool that we use to make our lives better, to make the lives of those around us in our community better.” – Erin Lowry
• “The other part too, is we so often intertwine morality and shame when it comes to debt. There are myriad reasons people end up in debt, especially when coming out of a pandemic.” – Erin Lowry
• “So if you’re in a position where you feel you are significantly underpaid, you don’t think you’re going to be able to negotiate to close the gap for whatever reason, it could be time to take your talents to another company.” – Erin Lowry
• “You don’t have to be good at math to be good at money.” – Erin Lowry
• “Just like with anything else in life, first of all, you are going to screw up. The experts screw up. We’re all going to make mistakes when it comes to money. So, don’t let that be a reason that you give up.” – Erin Lowry

Free Valuable Report for our Listeners: “3 Beliefs About Money Your Kids Should Learn That No One is Teaching Them”

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Recommended Resources:

• Erin Lowry - brokemillennial.com