Living Your True Worth 034


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Carrie and I have been sharing our net worth and our monthly budget with the entire world since Dec 2013.

It’s changed the way we feel about our money habits a little. Not as much as we thought it would.

We thought this article about sharing private financial information from Carl Richard at the New York Times was interesting. The article is called Living Your True Wealth.

Here’s the part of the article that we discuss on this episode…

Talking with a friend about our need to display wealth with the things we buy. What would happen, I asked, if we had to walk around with our true wealth flashing as a number above our heads? “It would be the end of consumerism”, he replied. Why would you need to buy something to represent wealth if everyone knew exactly what you were worth already?

It may never happen, but our relationship with money would change considerably if our financial decisions were transparent to the world. For instance, what would change if the car we drive or the home in which we live could no longer hide that we’ve saved nothing for retirement? Would it be easier to focus on the financial choices that help us instead of hurt us?

Maybe this idea is too radical, but for the next week, I’d love for you to test this theory. Try living as if everything you did financially was public information. How does it affect your decisions? Do you find yourself still doing things that just look good, or are you doing things that actually are good for you? Do you find it easier to be your authentic self? And, perhaps most important of all, do you now understand the difference between buying the trappings of success and actual success?

So, how about you?

If everyone knew everything about your financial decisions, would that change your habits? Would it change the way you feel about what you do with your money?

-Derek, Carrie, Amelie.


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