25 - Growing Up Without Money Talks: The Ripple Effects

As a kid, money was like a hidden secret in my family.

My Lao parents, like many from Asian cultures, treated financial discussions as taboo—something not meant for kids' ears.

They aimed to protect me from adult worries, a gesture of care deeply rooted in preserving social harmony and family dignity. The fear of losing "face" or damaging our social standing through exposing financial struggles kept money matters hush-hush.

This silence had its consequences:

• Limited Financial Knowledge: I learned to save like my parents but missed out on understanding investing for financial independence. We were all trapped in the cycle of trading time for money, with rare breaks or vacations, and I unknowingly adopted the same path.
• Delayed Financial Literacy: The absence of open financial conversations delayed my financial education. I entered adulthood without a roadmap for managing money, navigating credit, or understanding investments.
• Emotional Stress: Not discussing financial issues can lead to emotional stress. Without a healthy outlet or guidance, I struggled alone with financial anxieties that could have been alleviated through conversation.
• Missed Opportunities: Without conversations about financial growth and investment, I missed early opportunities to invest and grow wealth, playing catch-up later in life.
• Impact on Relationships: Money silence can strain relationships. My marriage felt the strain of my financial learning curve as my wife and I navigated my late-blooming financial literacy.

My story underscores the cost of silence around money, and I have a feeling that I'm not the only one who has struggled with this.

I'm determined to break this cycle, shedding light on my journey to encourage open discussions about finances.

My hope? To empower others in similar situations to foster healthy financial habits through conversation, all while honouring our cultural traditions.

It's time for us to bring these conversations to the forefront and forge a different future for the coming generations.

In chapter 5 of my book "Dare to Escape", I share my path from inheriting these silent lessons to actively seeking financial wisdom and building a healthier relationship with money.

This is my story, and I invite you to read it and share your thoughts and experiences.

>> Read Chapter 5 here <<

See you next week,

Anf Chans ?

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(This newsletter was drafted with the help of ChatGPT-4 and edited by yours truly. Image by Dall-E ??)

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