The Long Road

One of the things I remember most from reading Rich Dad, Poor Dad is the part he says along the lines of "people with money tend to talk more about money than those without". I've come to agree with his implications to that statement. That is, the more you talk about money, the more you learn, and the more money you can make (and keep!). Even just chatting with friends, you will doubtlessly learn something from each other, increasing your financial knowledge.

There is a bit of a Taboo in western culture in regards to discussing personal finances. Because money is the root of all evil, and personal finances should be just that. Chinese culture is slightly different, it always seems like everyone knows what everyone else is making and your hourly wage is open to conversation during morning tea. But I think that's sometimes more gossip and yardsticking than anything else.

Personally, I dont mind at all if my friends know the details of my finances...what does it change? (remember that year where I posted detailed spreadsheets of my monthly expenses?) I remember asking a friend how much his house cost because I was interested in how much houses in that neighbourhood were, but he refused to answer. What would have changed had he told me, though? It's a nice house in a nice area, so its obvious he's making good money. Knowing the cost of the house would not have changed anything except to increase my knowledge.

Replies: 5 comments

People fear that you will change your perception of them.

Posted by dAN @ 04/03/2008 07:21 PM EST

i find the hiding of house cost an odd one too. i understand not discussing how much you make - because that's like a measurement of your value to the economy. but purchasing a house is different. you could have sourced the funds needed for a house purchase anywhere - you don't have to tell anyone. besides, salve values are a matter of public record. it's not like a really curious person couldn't find out anyway ... in fact, you might just be stoking their curiosity even more.

Posted by melpie @ 04/04/2008 11:59 PM EST

I can only surmise that your friend realized he overpaid for the house in that neighbourhood and was embarrassed as a result.

I also first thought your question was about monthly upkeep costs for the house, as opposed to the mortgage payments/purchase price of the house.

Posted by sbdep @ 04/10/2008 01:53 PM EST

Find me a house in today's market that is truly worth its price...

Posted by dAN @ 04/10/2008 08:07 PM EST

Your site really needs a RSS feed.

Posted by Étienne @ 07/25/2008 02:24 PM EST