If you’re wondering should you let other people know how much money you have, the quick answer is no. There are a number of important reasons for this. So read on to learn how much trouble you can make for yourself if you share how much money you make.
Should You Let Other People Know How Much Money You Have
The only reason some people want to share their net worth or their income is that they want to impress other people.
It makes them feel good about themself.
However, bragging never gets you anywhere, and it says more about your insecurities than it does about anything else.
Let’s say you have other reasons to share this information. Maybe it’s even a valid reason.
Even so, there are more reasons not to share than there are to share.
5 Top Reasons to Keep Your Income Level to Yourself
1. You Could be a Target of Thief
This is one of the most important reasons why you should keep your financial information to yourself.
If you make a lot and flash it around or talk about it, the wrong person might hear you.
This could lead to them stealing your cash, or worse kidnapping you and forcing you to the ATM.
In the worst-case scenario, they could kill you.
Trust me, if people are willing to kill someone over their tennis shoes, they will be willing to kill you over the money you have in your wallet or in the bank.
This applies to social media as well.
Don’t post that you just got paid or have come into extra money or anything thing about money.
There are people that look for that type of information and then will use other information you post to find you.
2. Others Might Be Jealous
Friends and family members can be happy for you and your success on one hand, but also be jealous of your success on the other.
Life is like that.
If you go around talking about all the cash you have, they will, at some point, get tired of hearing about it.
This will lead to jealousy especially if they have less than you do.
Over time, their jealousy will increase and this will hurt the relationships in your life that are most important to you.
3. People Will Want to Borrow Money from You
If you let the people around you know what you make, and you make a lot, you will start to find that you have a lot more “friends” than you ever thought.
And, all these friends will want to borrow money from you.
This will happen time and time again.
If you give them cash or loan them cash once, they will continue to come back with their hand out.
If you don’t give them any money then they will think badly of you and no longer be your friend.
4. People Will Expect You to Pay for Everything
If you’re doing well financially and you let everyone know, your friends and family will expect you to pay for everything.
Why not? You’ve got the dough.
If you don’t pay then they will assume you are selfish and a tight-wad.
So, you can expect to pay when you’re going out to dinner, out to a club, or even for a vacation.
And chances are even if you do pay you won’t get a lot of credit because it is expected.
5. Some will Think You’re Bragging
Now we get back to the bragging. Many people will think you’re just bragging when you share this information.
Chances are, there will be a grain of truth in what they are thinking.
There really is no reason to share your salary unless you are trying to make yourself look good or someone else look smaller than you.
That’s why smart people keep this information close to the vest.
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What if You Don’t Make a Lot of Money?
Okay, so all those reasons make sense if you make a lot of money, but what if it is the opposite and you don’t make much at all.
Even if that is the case, you still shouldn’t tell people.
It will make you look like you are trying to get sympathy or a handout.
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To Sum it All Up:
There is never a good reason to share your income information with anyone. Keep it to yourself. In the end, you will be glad you did and your life will be a lot easier than it would otherwise.