Teeth, Finances, and My Thoughts on Both
Seriously. It’s captivating. Mesmerizing. I could not stop staring at her picture on the cover of a book I noticed recently. I was browsing my favorite bookstore and stopped mid-aisle in awe-inspired curiosity. I mean Crayola should name a crayon after that color. “Suze Orman tooth.” (To be placed in the 500 box after “lace” but before “ghost.”)
Her book was entitled, “Women & Money.” I love products that are segmented for my gender. I know it is just niche selling but it intrigues me to see what others think we women need to know that is unique from the male population. This topic was of particular interest to me because I was a Financial Counselor earlier in my career, so I’ve worked on creating budgets, reading and cleaning up credit reports, and financing opportunities.
I read her first book, 9 Steps to Financial Freedom, and highly recommend it. She has an easy-to-read style that empowers understanding and action. This book takes a more basic approach to money management. That’s cool. It’s important to give education options that meet individual needs.
There was one section that especially got my attention. In it she wrote,
"Silence leads to inaction. We don’t talk about money with our friends, our parents, our children—and that’s where we get in trouble. How are we supposed to teach our children, how are we supposed to educate ourselves, if there isn’t a free and frank flow of information about money? Why do we behave so carelessly with our money?..."
Now that is interesting. Do you think we limit our dialog about money? Is it silence that leads to inaction? I disagree. With the 300+ members I worked with, I don’t think the defining factor was silence.
I think it is awareness. The dialog is meaningless without awareness of the role that money plays in each of our individual lives.
Money has a profound metaphorical impact. Consciously or not, money represents power or control or freedom or obligation or duty or security or status or fun. The list goes on and I’ve found it is unique for each person. I’ve noticed that if a personal need is not met, people will often sabotage their own best interest to get it met.
Example: a couple came in to work with me because they spent more than they earned every month and did not want to continue to rack up credit card debt. The Saver in the relationship blames the Spender for their financial troubles. Often Saver takes care of all the bills and puts Spender on an allowance. To Saver, money represents security, and it’s important to keep a tight hold on it so Saver can feel as secure as possible. Maybe Saver grew up poor, or lost it all in a bad business deal. There are myriad contributing factors that develop needs. To Spender, money is freedom. When that freedom is restricted, Spender might go to great lengths to get that freedom back: spend beyond the allowance, open another credit card behind Savers back, and borrow from others. Result? A whole lot of dialog (read: fighting) about money. No lack of silence there. And a fundamental lack of awareness about the real need that is not getting fulfilled. When awareness is there, alternatives can be explored.
I have found that individuals take control of their finances when they are ready. It’s like diet, exercise, any other big desire. Most people know what they need to do and often know how to do it as well. Books always help. I firmly believe knowledge is power. However, action results when an individual becomes cognizant of their choices and decide it is more important to fulfill a certain need over another. Often, that process is internalized.
What do you think? Have I just promoted dialog that discourages silence? In trying to make my point have I made her point?
Hmmm. I’ll contemplate that when I bleach my teeth tonight.
Andy Janning on November 1st, 2007 at 12:53 PM
Great take on Suze’s book.
I agree that most folks are aware of what they need to change – “I have to save more $$/exercise more/cut off this pesky mullet.” I don’t believe people know HOW nearly as much as you assert, however. Knowledge isn’t power. It’s the wise application of knowledge that creates the power behind lasting change.
I do agree that it’s all about dialogue. This is where CUs come in. We need employees who care about their own personal finances and are willing to share what they’ve learned from that process with their members.
CUs turn knowledge into power by showing how, for example, intelligent management of a checking account can change a family’s future. If we take a page out of our own personal history sometimes to do it, or use another member as the standard, so be it.
Our products stop being commodities when they start changing lives. Are we brave enough to tell those stories?
I would type more but I stared at Suze’s teeth too long and am now mourning the loss of my retinas. Splendid.
Regine on November 5th, 2007 at 12:53 PM
“How is it possible that 90 percent of women don’t know anything about their own money?” – Suze Orman My answer is simple: in a marriage there is this the old philosphy that a man has to take care of the woman and best yet: We fall/fell for it. However I am simply amazed as to how many of my friends still think that way (but they do NOT mention that they have their own checking or savings account somwhere). Simply double standard and communications gaps. In my book, men need to be told what we want and vice versa. If both genders pulled the same string then life and money can/could be bautiful and just imagine as to how everyone’s teeth would shine and sparkle.