Open Up is a guidebook to encourage everyone to talk more about money in the workplace, in relationships, in families and its importance in the context of our self worth and personal lives.
Open Up by Alex Holder
Open Up explores the power of vulnerability in the context of finance.
Considered the last taboo, Alex Holder explores why it is so difficult for women especially to talk openly about money with friends, colleagues and romantic partners. Written in a humorous and engaging style, the book covers important issues and encourages all of us to be more open when discussing finances.
Below are some of the key insights I took from this book:
Because we rarely talk about money most of us go through lives unconsciously copying our parents attitude to money.
Everyday conversations about money [restaurant bills, bar tabs, weddings] are actually about how we feel about our own self-worth.
Pretty much everyone defines ‘rich’ as someone who earns 40% more than them.
Money or lack of it prompts a feeling of shame which gets stronger for not being spoken of.
Many people lack basic financial education in the developed world and this seems to be actively encouraged by the society around us.
Opening up to friends about money should be easy but can prompt uncomfortable conversations especially when certain individuals outearn everyone else.
Money shame also crops up in various social obligations such as restaurants, weddings or group holidays where we feel pressured into blowing our budget.
Financial attitudes also shape our vice behaviours such as alcohol and drugs where even disciplined savers will outspend their means.
While money is a taboo subject in romantic relationships it actively shapes how they proceed by altering the power dynamic and lived experience of the couple.
In many cases, gender norms are deeply entrenched and the unspoken elephant in the room.
When it comes to the workplace, many colleagues are actively discouraged from talking about their compensation with other people in the same firm.
Ultimately getting paid what you are worth is always relative to those around you and with the rise of social media is now not just limited to monetary amounts.
When it comes to money and wellness, learning to be good with money has a very profound impact on our mental health.
Establishing a budget and sticking to it can be the foundational habit to a total money makeover, giving us the tools to be happy, healthy, wealthy and wise.