Learning to be gritty

Fiscal Therapy: Learning to be gritty

This article originally appeared in our monthly newsletter, Fiscal Therapy.
Please subscribe if you'd like to receive similar articles on a monthly basis.



April is National Financial Literacy Month, so I’ve been reading stories of everyday people working through money struggles. My favorite read this month has been Make Your Kid A Money Genius (Even If You’re Not) by Beth Kobliner. A key takeaway from the book is the idea of “stick-to-itiveness,” better termed “grit” by Angela Duckworth. The ability to stick with it and persevere matters more than your IQ and educational background. Studies show that grit leads to a more satisfied life, as well as higher income and net worth. And here’s the best part: grit can be learned, both by kids and adults. The book has great suggestions for parents to help teach kids grit and to foster healthy relationships with money.

The broader lesson from the stories I’m reading (like this one and those referenced below) is that we’re all a work in progress. You can, if you choose, buckle down and develop your grit when it comes to money and grow into financial health.

“Because once you realize that money management is a skill (like swimming or baking) and not a trait (like smart or good) it’s an easier topic to tackle. Sure, some people have greater access to financial knowledge, but no one is born with the innate ability to handle money — it’s learned.”
—Jennifer Torwudzo-Stroh, The Everygirl


Here are two interesting articles I read this month: 


How Real Couples (and Finance Experts) Resolve Their Money Disagreements
By Erica Gellerman, The Everygirl

I love real life stories of people working through conflict with money. Here are several great examples of how couples navigated money disagreements. Note that, in each case, the couple committed to communicating and addressed head-on the uncomfortable topic of money.


A Guide to Non-Awkwardly Dealing With Money Differences Between Friends
By Anna Goldfarb, The Cut

Do you find it hard to navigate friends and money, especially when you’re on different financial footings? Here are a few practical tips for resolving and proactively avoiding awkward money moments with friends. In short: don’t judge, be thoughtful, and be kind.