This week, I stumbled upon something that blew my mind—ConvertKit, which also happens to be my email marketing provider of choice, that publicly shares all their financial metrics live and in the moment. You heard that right! A private company pulling back the curtain to reveal its financials. This kind of radical transparency is usually reserved for public companies, making this a refreshing and groundbreaking move.

Let's dive into why this radical transparency is so refreshing and why you should care about it.

The Power of Tracking

First off, let's talk about measuring things. ConvertKit isn't just sharing numbers for fun—they're highlighting how crucial it is to track and understand your financial health. Think about it: if I asked you how much you spend on food each month or what your total subscription costs are, would you know off the top of your head?

Most people don't. And that's a problem.

Not having a handle on these key metrics is like driving blindfolded. By tracking your spending and seeing trends over time, you gain control. You can make informed decisions that help you save more and invest wisely.

Embrace Radical Transparency

Now, let’s talk about the second big takeaway from ConvertKit’s approach: the importance of talking openly about money. Money is often seen as a taboo topic, but breaking that silence can lead to major benefits. When you get comfortable discussing your finances, you open yourself up to new ideas and better ways to manage your money.

This is one of the reasons I started Smart Money Club—to create a space where we can all talk about money openly and learn from each other. Talking about money is crucial because most of us didn’t learn this stuff in school. And if we never discuss it, how can we improve?

Action Steps

1. Start Tracking: Pick one area of your finances and start tracking it. Feel free to use my free template for that. Just get those numbers down.

2. Talk About It: Find a friend or family member you trust and start a conversation about your financial goals and challenges. If you don't have anyone to talk about it, you certainly will inside Smart Money Club.

3. Stay Inspired: Check out ConvertKit’s live financial metrics on Baremetrics and think about how you can apply some of that transparency to your own life.

Until next week, stay awesome.

Cheers,

Kai

Master Your Finances with ChatGPT-4o: Budgeting, Investing, and More

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