Should I reveal how much money I have?
I have been thinking about this for quite some time and have not come to a conclusion but I would like to share the though process.
Why Disclose:
I can gain the trust of my readers by showing them what I preach is what I follow.
This is very important to me. I want my readers to know what I will talk about is practical and can be followed and in fact I am doing it.
I can get valuable comments from readers which are more tailored to my current financial standings.
Everyone of you have something to contribute about personal finance, the source of knowledge may stem from your personal experiences , ideas or education and we can engage in a constructive discussion which will be mutually beneficial
In the examples I use, I can use my personal finance profile.
I will be more focused ‘on doing it right’ to hold face in front of my readers.
Why not disclose:
Everyone will know how much money I have..!
There is certain amount of comfort that goes with people not knowing exactly how much one you have. It is purely psychological but it exists.
I may have to discuss it with my friends.
Previously I had always dreaded a discussion on how much money one has and I may get a lot of questions and surprises.
My family members may not be cool about it.
Simple, from where I come, you do not carry a badge with how much your net worth is printed on it. This will make my family members uncomfortable.
It is very complex.
Being an immigrant, my personal finance is very complicated, my assets and liabilities are spread across two countries, two currencies.
People may evaluate my decisions purely against the money I have.
I may lose some negotiation power.
With people who know my personal finance standing and may have their own assumptions of what I can afford and I cannot afford.
Well the thought process is still going on, and I will update when I do make up my mind. Let me know what you think in the comments.
4 Responses
I don’t think it matters all that much externally, you should just decide if you think it will help *you* to do so. For some people they like that, for some it’s not worth it. If you feel it would cause problems, just share your personal experiences in other ways.
@Jonathan: I certainly think it will help me organize my personal financial profile in a better way but I do not want to take a quick decision on this as I cannot go back on the decision so easily.
I believe it depends on your comfort level too, I post monthly snapshots of my monetary accomplishments (:P) but many people don’t it right this way. Being able to get trust of your readers, as you mentioned, is one thing but I also see this as my committment to myself for always keeping my bucks counted 
I feel that the discomfort and surprises of people who miscalculate your saving shouldn’t be there after disclosing your assets. Because after disclosing you will portray a true figure…so people will know how much you are making, saving and where all the saving has to go…
so in my opinion you should disclose your assets.