In these days where discretion seems to have been lost on most of my generation and completely on the following generation (in my opinion), I wonder what this might mean for society in general, but in Personal Finances in specific.
This loss of the social mores and verboten topics has meant a lot more frank discussions about some subjects that needed much more inclusion as part of day-to-day discussions, specifically in terms of how Financial Institutions do business and the huge business of Financial Services in general. I applaud the frank talk and think this kind of lack of
discretion is very much needed (i.e. full disclosure). We have seen that many Ponzi Schemes thrived on this diescretion when it came to how they operated (i.e. it was a secret how you were making more than the market, and thus you should not be telling anybody about how you are doing it).
Are you discrete about your money? I am somewhat, in that I don’t typically talk to friends and acquaintances about the specifics of my money, and I think I inherited that ideal from my Parents. I never knew how much money my parents made, or what financial issues they might be having, and I still don’t know much about their finances, but is that any of my business? When I was a child, I would argue, no, it wasn’t my business, now there might be an argument that I should know more, and I am finding out some things slowly but surely.
Given the current generations need to talk about everything (on Facebook or whichever social networking site is now the next big thing), will this change how Money and Finances are talked about? I hope so, but I suspect that some of the more nefarious folk out there may learn that it is very easy to hide in plain sight (i.e. doesn’t matter if everyone talks about you, if they don’t know what you are really doing), and in fact open discussions about you add a level of legitimacy that will help you put more wool over more folks eyes (I hope not, but my guess is that will be the case).
Discussion usually causes change, but in this topic, will frank discussion change things for the better?
What do you think?
If you have got it flaunt it, seems to be the catch phrase these days, but I like the idea that folks really don’t know much about me and my money, for some odd reason it makes me feel safer.
Do you openly talk with your children or others about your money? Are there any taboo subjects in the area of money out there any more? I leave this open to you good reader to comment about whether I am full of wind, or whether you agree.