MILWAUKEE- Northwestern Mutual, in partnership with SoulPancake, debuts The Talk, a social experiment designed to bring families and loved ones together around a topic that has long been considered off-limits by some in our daily conversations: money.
The Talk, produced by SoulPancake, a digital media and entertainment company renowned for creating the Kid President video series, is now available on the SoulPancake Facebook page and YouTube channel, and provides a forum for participants to break social and cultural taboos around discussing money. The payoff? Communication and honesty are the keys to stronger relationships as well as establishing a financial plan, taking action and having confidence in knowing you are financially secure.
“We know from our own research* that a large majority of Americans are financially anxious, perhaps because they’re not comfortable talking about money,” said Chantel Bonneau, wealth management advisor for Northwestern Mutual. “We hope this video can be an ice breaker to help dispel social and cultural taboos around financial conversations and empower people in their personal planning journey.”
SoulPancake Chief Creative Officer Golriz Lucinaadded, “At SoulPancake we’re all about tackling life’s big questions – even the uncomfortable ones. We were so excited to partner with Northwestern Mutual to take the taboo out of talking about money, and help jumpstart the conversation.”
To complement the SoulPancake video, Northwestern Mutual is offering tips for how to start the money conversation with your loved ones. For more information, visit Northwestern Mutual’s Financial Guidance page or the many resources at TheMintGrad.org.
With your significant other: It should come as no surprise that financial stress can be a common source of disagreements among couples. That’s why it’s important to discuss how you’ll handle finances early on. Not sure where to start? Take a financial compatibility quiz with your partner and share the results. From there, discuss your shared vision and begin developing a financial plan.
With your kids: Use everyday activities as teaching opportunities. For example, if they get an allowance, have them think through how they’d like to use their money. Help them learn how to save, spend, invest and give at TheMint.org.
With your roommate: Don’t go into a new living situation without knowing shared costs, how you’ll split them and how they’ll be paid. Then agree on an itemized plan and have all roommates sign it to avoid future confusion. For fun ideas on cost sharing, visit TheMintGrad.org.
With your boss: Asking your boss for a raise can be intimidating. Be prepared for this conversation by doing your homework. Determine a fair salary increase based on your role, responsibilities and tenure with the company. Have data ready that supports your position. For those new to the workforce, learn some basic salary negotiation strategies here.
With yourself: It’s incredibly important to be honest with yourself about your financial situation and goals. Start by outlining your budget, including monthly expenses, debt and savings. Then, make a list of short-term and long-term financial goals. Learn the five basic ways to make your money work for you at NorthwesternMutual.com.
