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Many people shy away from asking family members about their financial situation, but Lauryn makes some strong points for why it’s so important.
She touches on tips for talking about money with your parents and siblings along with your spouse and children. Lauryn shares a little bit about her own family, why she strives to have financial conversations with them, and how you can do the same.
What You’ll Learn in This Episode:
- Why it’s so important to know about your parents’ financial situation.
- Questions that you can ask your parents and siblings to get the conversation started.
- What to do if they say, “it’s none of your business”
- The importance of being open about finances in your marriage.
- Why you need to be open with your children about financial matters as well
In the episode Lauryn shares some important questions that should be addressed with your parents. These conversations might feel awkward, but it’s important to have them while you can. If something happens to your parents before you ask these questions, you could be left to figure things out on your own. Here are a few of the questions:
- Do they have arrangements made for when something happens?
- Where do they keep the paperwork you will need to access?
- Who makes the decisions on their behalf if they are unable to?
If you want tips on how to remove the awkwardness from financial conversations check out Episode 65.