Let's get honest about our money problems | Tammy Lally

TED Talks Daily

TED

Creativity, Business, Design, Inspiration, Society & Culture, Science, Technology, Education, Tech Demo, Ted Talks, Ted, Entertainment, Tedtalks

4.1 • 11.9K Ratings

🗓️ 31 August 2018

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Struggling to budget and manage finances is common -- but talking honestly and openly about it isn't. Why do we hide our problems around money? In this thoughtful, personal talk, author Tammy Lally encourages us to break free of "money shame" and shows us how to stop equating our bank accounts with our self-worth.

Hosted on Acast. See acast.com/privacy for more information.

Transcript

Click on a timestamp to play from that location

0:00.0	This TED Talk features money coach Tammy Lally recorded live at TEDx Orlando 2017.
0:07.0	Have you ever had to break your family's rules?
0:12.0	Today, I'm breaking mine around money, secrecy, and shame.
0:19.0	In 2006, on my brother Key's 40th birthday, he called.
0:24.8	Tam, I'm in dire straits.
0:28.3	I wouldn't ask, unless I had to.
0:32.2	Can I borrow $7,500?
0:36.2	This wasn't the first time he needed quick cash, but this time his voice frightened me.
0:43.3	I had never heard him, so beaten down and shameful. And it was on his 40th birthday.
0:57.5	After a few years, he was on his 40th birthday. After a few basic questions that we would all ask,
1:01.2	I agreed to loan him money,
1:03.9	but under one condition that as the financial professional in the family,
1:08.8	I wanted to meet with him and his wife to see what was really happening.
1:12.6	Weeks later, we met at the local Starbucks,
1:16.6	and I started right in with the tough love budget conversation.
1:21.6	You should sell the house, downsides to something you can afford.
1:25.6	Sell the toys, and Starbucks give up the $5 a day coffee.
1:32.3	You know, all the trappings that we do to keep up with the Joneses.
1:37.3	Quickly, my brother and his wife went into a fearsome blame game,
1:42.3	and it got messy. I vacillated between
1:47.2	therapist and pissed-off sister I wanted them to be better than this come on
1:55.0	you two get your shit together your parents grow up and buck up.
	...

Transcript will be available on the free plan in -2400 days. Upgrade to see the full transcript now.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from TED, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of TED and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.