Book Review: Money Talks (a lifestyle guide for financial wellbeing) by Ellie Austin-Williams

Money. Something we all need but the last thing we may actually talk about. It drives our decisions, our choices, and the opportunities we create for ourselves, our families, and our future. It can be a subject of stress, frustration, or power; and it is one that often comes up in my return to work, career coaching and workshops. This isn’t the first time money has been mentioned in the blog. But this is the first time we have looked directly at the money mindset through an unapologetically feminist lens. Today, I want to share my thoughts on Money Talks (a lifestyle guide for financial wellbeing)* by Ellie Austin-Williams.

 

Austin-Williams, better known as “This Girl Talks Money,” online, founded an online community which empowers women and opens up the conversation around money. This book is her way of placing this knowledge and reflections directly into the hands of those who may have avoided the anxiety-inducing situations that money can bring into your life. On the off chance that this is a new concept, let me share some of the challenges she covers:

 

Feeling like you have missed milestones because of financial instability. 

Saying no to events you can’t afford.

The negative influence of #girlboss and #hustle culture

The search for purpose and gender equality in your career

The impact of comparison culture on your bank account

 

I have been following her for a while and bought this book as a gift for my eldest daughter’s 18th birthday. Whilst my money mindset has been developing over the years, I wanted to provide her with something tangible she could read to (without me nagging) that may open up some self-reflection as she enters the world of adulthood (and all the extra pressure that this brings).

Money Talks really feels like a great starting point for anyone, at any age, who finds their relationship with money tricky. It isn’t just for people who find money “hard”, it is for anyone who wants to redefine how they treat money, and where and how they can draw financial boundaries. There were many times as read that I recognized myself in the situations, as well as reinforced my belief that whilst money is necessary and a real factor within wellbeing, we MUST stop the belief that accumulating it is an automatic measure of a successful person.

 

As it is a feminist book it talks about the structures that have been put in place to limit and restrict our conversation – and the ways to overcome this. This is particularly relevant in the chapters around work (including salary negotiation) and the financial impact of parenthood. From the offset, she highlights that talking about money is the beginning, but like so many things, there is a power in silence. So, she encourages moving past the cultural discomfort of talking figures and starting a new way; to make moves to share how it affects our happiness. 

 

So, in true Clara Cliff Notes style, these are the four things you need to know about Money Talks.

 

Start with your boundaries.

If you start considering money as something functional in your life – like you do with sleep, exercise, your career, nutrition – you can start creating boundaries. That could be around what you will or won’t spend things on, how much debt you are prepared to carry, and how you engage with financially driven activities. There are many examples in the book of how the value that others hold to money, plus their financial scope, can impact us. Having a clear idea of where you will or won’t, or can or can’t spend, and being clear on that, you can have stronger conversations.

 

Continue with talking about money.

One of the things that keeps us feeling trapped by money is the belief we shouldn’t talk about it. We all know my thoughts on the word should! It’s a cultural belief; maybe your family has always found it awkward. Austin-Williams talks about the importance of talking about money to break down the discomfort and awkwardness. She supports this by giving examples of how to bring up trickier conversations; they are delivered with compassion or assertiveness, based on who you are talking to!

 

Plan before you need to.

There are major life transitions mentioned in the book – moving house, having a baby, changing jobs – that have significant budgetary impact. There is great detail given to ALL the areas we need to cover, as well as the hidden costs that aren’t always obvious. By considering what is needed, and what may be driven by comparison-itus (yes, let’s make this a word) you can have clear and impactful conversations.

 

The power of gratitude.

The centre of this book is about linking money to happiness. Now, this book on its own can’t remove the very real issue of inflating costs and slow wages and the economy. However, it does a great job of asking ourselves to reflect on our idea of enough and paying attention to what we have and what it brings us. 

 

This book is great for anyone looking to change their mindset around money. It’s not about accumulating or “getting rich quick”, but instead about asking us to reflect on our relationship with money, and what we can do to create a life that links money with happiness and opportunity, not struggle. If you are looking for something to help you understand finance – such as investments or savings- then this isn’t the book for you. But I think it’s the first one you need to start with to get you ready to create the financial life you want.

 

Have you read Money Talks? I’d love to know your greatest learning!

 

If you like my review, then head over to the Book Review blog and read some of the other titles I’ve chosen over the years. You can join Creating Careers to Enjoy to find the monthly read-along title and join in with your thoughts! 

 

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