I’m always shocked and surprised to see how little of what goes on in our financial markets seems to interest most professionals. Somehow I think people invest their money and no longer want to think about it. I’ve pondered why this should be the case. My answer is that people think it is just too complicated. I disagree. I think the problem lies with communications professionals, perhaps it would be better to say that we are responsible for explaining, in layman’s terms, what has and what is going on. Albeit the past two years have been very difficult to explain and even experts in our government have been having a hard time, I think we all need to do our part and do it better.
About a decade ago I was a financial reporter at Dow Jones. Those were the days when the Bundesbank still meant something and the Euro was not yet part of our lexicon.
It seems like a very long time ago indeed but over the years I have come to appreciate just how much working at a news wire can aid in your understanding of complex financial issues. Clearly, not everyone has that opportunity nor the inclination but what we do have are our financial lives that need understanding and explaining. Much like like learning to drive a car or ride a bike, we must become aware of our financial burdens and opportunities.
We, as a country, are woefully behind in terms of our education. As the system seems to be up for a some changes, I hope that if they do put home economics back into the picture, that it is not just about cooking and food, an essential and primary part of our lives, but also about managing a household, with all that that entails – debt, bill paying, investments, choices, understanding products that bankers try to sell you, sacrifice, etc.
As financial communicators, we too can do our part by taking a step back and actually taking the time to discuss and understand the products we are pitching and tasked to explain to others. This essential part of the job doesn’t seem to be a top priority any longer. I think that is a huge mistake and we are and will be paying the consequences for a long time to come.
Tags: bundesbank, debt crisis, dow jones newswires, financial communications, Financial education, Gold Communications, Public Relations, sovereign debt crisis, Susannah Gold, uno sguardp
