How to take charge of your money (w/ Wendy De La Rosa)
How to Be a Better Human
TED
4.1 • 1.4K Ratings
🗓️ 14 November 2022
⏱️ 43 minutes
🧾️ Download transcript
Summary
We hardly ever talk openly about our money. Today’s guest Wendy De La Rosa thinks that’s a costly mistake. She is a behavioral scientist who helps people understand and rewire their relationship with money. A former private equity investor at Goldman Sachs, Wendy is now an Assistant Professor of Marketing at the Wharton School and the co-founder of Common Cents Lab, which works to improve financial well-being for low- to moderate-income people. In this episode, Wendy shares actionable insights on how to prepare and invest in your financial future, explains why the emotional aspect of decision-making impacts how we spend or save, and breaks down why financial insecurity should not be a source of shame -- and why the issue of wealth inequality cannot be solved merely by budgeting.
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Transcript
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| 0:00.0 | Ted Audio Collective. |
| 0:02.0 | Audio Collective. |
| 0:04.0 | You're listening to How to Bea |
| 0:10.0 | You're listening to How to Be a Better Human. |
| 0:12.0 | I'm your host Chris Duffy. |
| 0:14.0 | When it comes to money, one study found that 78% of people would rather disclose their full dating history than their full financial history. We would rather have you know who |
| 0:25.1 | has seen us naked than who has seen our credit score. |
| 0:28.6 | And now for me this might be one of the areas where I'm a little bit of an outlier actually. You know I've talked |
| 0:33.7 | on the podcast before about how I can get very awkward when it comes to talking about sex but when it comes to |
| 0:39.2 | money I'm a lot more comfortable and I think the reason for that is I've had so much practice at talking |
| 0:44.7 | about money. I love to do work like giving talks, telling jokes and leading workshops, but |
| 0:50.0 | there's not exactly like a set price tag for any of those things. |
| 0:53.8 | And so I find out what I should be making by asking other comedians, by asking friends who do |
| 0:58.6 | similar work. |
| 0:59.6 | I find out what I should be charging, what the prices should be, what the prices should be what the costs are and I could only |
| 1:05.3 | do the work that I do by having those kind of open candid honest conversations with friends |
| 1:10.3 | and coworkers and obviously I'm really lucky to even be able to do that. |
| 1:14.5 | Many people are just trying to survive. |
| 1:16.2 | But the flip side, even for someone like me, |
| 1:18.5 | is that when I do get paid, it's at unpredictable times |
| 1:22.0 | and it's often an unpredictable amounts. |
| 1:24.3 | So I'm still learning how to even like chase down the money that I'm owed |
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