By Abby King
Rachel Swartzendruber Miller and Lyle Miller.
Personal finance is more “personal” than it is “finance” – which can make it difficult to have candid conversations about money with loved ones, Everence® finance professionals Rachel Swartzendruber Miller and Lyle Miller said in their Friday morning seminar.
Throughout their seminar, “Necessary conversations: Let’s talk about money,” Swartzendruber Miller and Miller discussed why and how to talk about finances with family members, even when it might feel awkward.
Swartzendruber Miller, who is Vice President of National Markets at Everence, and Miller, who is an Everence Stewardship Consultant, both work with clients daily to help them integrate their faith and finances. During the seminar, the two presenters provided numerous prompts, tips and tools to help attendees start these necessary conversations.
Most people don’t enjoy talking about finances, said Swartzendruber Miller. There are many reasons for this, such as fear of losing control, shame around poor choices in the past, and difficulties communicating.
But avoiding these conversations can cause confusion, stress and frustration when crises arise, she said.
Miller emphasized the importance of self-reflection as a starting point before jumping into conversations about finances with family.
“Socrates once said, ‘To know thyself is the beginning of wisdom,’” he said, before leading the group through several questions, such as “What are your priorities?” and “How do they show up in your financial decisions?”
The pair offered actionable tips for family financial discussions: schedule annual meetings, be transparent even when it’s uncomfortable, and talk through potential scenarios to ensure preparation during difficult times.
Swartzendruber Miller left the group with a challenge: “Be intentional and lean into those necessary conversations.”