This is the Business English Podcast, episode 452, Strained Financially, How to Talk About It in English.
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For a presentation, a meeting or your office party, this is Real Business English with your favorite American hosts, Lindsay and Michelle coming to you from New York City and Colorado, USA.
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Good. Lindsay, how are you? Good, good. I'm ready to get on the microphone and chat for a few minutes today for this episode.
Michelle, I have a question. to start off today okay okay yeah so michelle do you know anyone who maybe a person who's going through financial challenges or maybe a company that you're familiar with that you've seen go through financial challenges Ooh, that is a good question.
I'm trying to, you know, it's interesting because with people, maybe I do know somebody, but It's not, it's very, you know, do you discuss that? realize that someone you know is going through some sort of financial struggle.
Yeah. Yeah. There's a stigma in our culture, in American culture, isn't there, to not let people know.
I mean, people do get into credit card debt in the US.
Medical debt is a real thing. So people could be going through something, but they may feel stigmatized and not want to share it, right?
Yeah, so... I can't think of a person that I know specifically, but as far as companies go...
Yeah, I don't know. I'm having a hard time brainstorming.
Can you think of anything? I don't know.
I think right now it's kind of a weird time with... politics and the tariffs, and we don't really know what's going to happen.
I think we might hit some financial challenges in the fall is my guess.
We might see some companies really struggle with taxation and things. we'll have to see, Michelle.
It's kind of like a cliffhanger here. Yeah, yep, definitely.
So much can happen. Yeah. So today we are going to answer a listener question and we're gonna use this as a way to talk about financial troubles at work.
This question to us from YouTube. But before we get to the question, guys, we want to remind you to hit follow wherever you are listening to the Business English podcast.
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Mm-hmm. So this question is from Ardalan Bookart 24.
And they said, please talk about financial challenges that you ever faced. you have ever had?
Okay, very direct question, actually. right yeah in american culture it's a direct question yes exactly and you know this is a that's a very personal question, but it's important for us to touch on this for many reasons.
I mean, finances they're extremely personal in American culture we don't you know we always say like we don't talk about salary we don't you know it's even to ask something somebody how much something was or it's always a little taboo.
So money is very interesting with what feels comfortable or uncomfortable to ask or to speak about.
Yeah. Oh, for sure. For sure. Yeah. What else, Michelle?
What else? For me, I can definitely say that certain points in my life have been more challenging financially than others.
I mean, do we pay for our kids to go to school or camp?
And then we've had career changes and student loans. factor into everything, getting a house, getting a, you know, So they're starting a business, which I've talked about.
You know, there are times in my life where I felt a little bit more like, more or less secure financially um and you know you kind of go through those waves but you know Overall, knock on wood, I'm okay.
What about you, Lindsay? Yeah, knock on wood, I'm okay.
But I think the interesting thing in American culture, here's an observation I have.
Tell me if you think it's true. I think the norms, the taboo around talking about financial struggle I think here's what I think my hypothesis in American culture, it's OK, it's more palatable to to share. financial struggle you've had or having if it's tied into a narrative that creates nostalgia like you're starting up business your family's decided to start a brick-and-mortar Or I could say I'm perfectly okay sharing that when I lived in New York, I had four roommates and I struggled, right?
That was hard, but I also had many roommates.
Yep. And I was living the dream in New York.
But right now, if I'm like fifty five years old, have a nine to five job, have always been stable.
And all of a sudden I run into something like a medical like medical debt that I think is a bit more becomes a little more stigmatizing.
So I'm just kind of making an observation on what we share in American English, like what we're willing to share and what we feel maybe embarrassed about and not embarrassed about.
Very interesting. Yeah, very interesting because some of these things are just kind of points in life.
Oh, yeah. having kids and school because it's more universal and people can relate to those kinds of things.
I think it's all... also maybe goes to this like, okay, but we're building the American dream.
Building the American dream. the dream, we're starting the business, we're having a family and buying a house.
So these are kind of things that are go along with these values.
Right. But so I think it also has to ties into that as well.
That's really interesting. If you can tie in the word dream in some sort. in some way then it's almost like we're okay to share it.
But if it's just, you ran up credit card debt and maybe you're older and you just, I don't know.
There's a loaded topic. Gambling addiction, things like serious things.
Yeah, it's a loaded topic. I'm just making observation because it might not be the same. around the world.
So I would invite our listeners to reflect, is it the same in your culture?
What are the scenarios in which it's okay to open up that you're in financial trouble?
And where do you keep your cards closer to your chest because you feel ashamed?
Really interesting. Very interesting, Lindsay.
I was not thinking about that. That's really...
Yeah, I think you're, I think you got it.
Well, let's give our listeners the tools to talk about it.
If they do want to open it. Yes. Absolutely.
Well, so actually today is going to be a little bit more specifically geared for the business vocabulary that you can use to talk about this. because you know we're not gonna we're not here to bum you out today but it is hugely important to know how to talk about this for the business world so we are going to talk about some very specific language that you would hear in the business world.
You could hear it outside of the business world as well, but it's very common here.
So let's talk about how we can share this.
So what is the first one, Lindsay? All right, to be in the red is when we're losing money.
And we've probably mentioned this a few times on the show.
But we're basically losing more than we're gaining.
So if the bottom of the P&L is negative, you are in the red.
So for example, If we don't shape up soon, we could be in the red by this time next year.
Yeah. Sometimes it's good. These are good for a dose of reality as well, or kind of planning budgeting all of these things so we might need these expressions um Here's a bonus.
This made me think of it. Do you ever hear somebody say they're hemorrhaging money?
Absolutely. I hear this a lot. What does that mean?
I'm not a doctor, but I think in the world of I think hemorrhaging is like over bleeding.
Is that right? Bleeding a lot? Bleeding out, I think.
I think. Yeah. That's how I imagine it. Right.
So like the hemorrhage. Excessive bleeding.
Yes. Yeah. Excessive bleeding. So that's taken from the medical world.
I listened to one podcast that I could possibly recommend to our listeners.
Prof G Markets is one podcast that we like to listen to. my partner and I, and it's created by Scott Galloway, who is a former NYU professor.
I like Scott Galloway. Yeah, he has like four podcasts now.
Oh, OK. We'll talk about them later. Yeah.
So there's one where they do talk about particular stocks and investments. and often you do hear these this type yo this word hemorrhaging money or hemorrhaging right companies You're just bleeding out this money.
So you could say something like, we've been hemorrhaging money on all these lunches for clients.
It's like, spending too much it's just gushing out it's gushing and i can't there's no way to stop it right yeah And then the next one, Michelle, in debt, right?
So money is owed to someone. Perhaps there's a loan.
For example, we're still in debt until after we pay off our business loan.
Yeah, that's heavy. That is heavy. Yeah.
Yep. Yeah. Or this is this is really bad.
So going under. Right. So it's pretty much going bankrupt.
I mean, you're probably going to have to. clothes, right?
Yep. I heard our competition is going under.
I do feel sorry for them, but we may find some customers this way.
Ooh, the sharks are coming in. The sharks are coming in.
There's blood in the water. Yes. Sniffing it out.
Yeah. Oh man. I mean, that's, you know that's capitalism that's the way the markets work it's just it's normal kind of right like survival of the fittest in a sense and that's that's how we get the best products and the best services.
Yeah, I think. Yeah. So anyways. Hey guys, it's CD Lamb, wide receiver for the Dallas Cowboys.
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All right, moving into a few more financial strain.
Michelle, tell us about this. Yeah, this is saying you're having money problems.
So in this one, you could talk about this in your personal life as well.
I mean, but here for business, you could say something like, This company has been going through financial strain for a long time, but there are many reasons to be optimistic.
And then sometimes when we're going through financial strain, we might cut back.
So cut back can be seen as a noun or a verb.
Right. So we have to cut back. Here's a verb.
We have to cut back on our spending, especially when it comes to office supplies.
Or how would we see it as a noun, Michelle?
Yeah, well, and this would be, We are going to have to make some cutbacks this year.
Yes. Make some cuts. So we see that as a noun.
So things we're going to reduce, right? Yes.
Love that. So, Lindsay, I mean, why are these important for work, for connection?
Why are we... I mean, this is kind of...
In some ways, a bummer to talk about, but it's important.
I mean, if you work for a company, any company, whether it's a small one, large one, These discussions are eventually going to bleed out into the break room the company lunches with your colleague you go for coffee walk down to starbucks you're gonna you're gonna know and you're gonna start to because it could be planning your own career?
When is the right time to leave a company?
As we say, do you want to be the last one on the Titanic? as the ship's going down, not to be drastic, but when should you personally be making moves?
Obviously, you want to be careful what you're sharing with your coworkers if you know your company is struggling and may go under. maybe be careful to say like, I'm looking for something new, but it opens up a whole host of conversations between you and people at your level. about what you know about what's going on.
Right? Definitely. Yeah, this is this is reality.
And we Just have to acknowledge it sometimes and be able to share this.
So really important stuff. So let's do a role play before we head out.
So here we are CFOs in our company. All right.
Chief financial officers. Right. So we're at the very top where we probably know the most in the company.
So this is coming from the top. Here we go.
I'm ready. Okay. So. I think we need to cut back on our spending.
I'm looking at the reports and we could be in the red in a few months.
Yes, I saw those numbers too. I don't think we're close to going under, but we need to lessen some of the financial strain we've been under.
Totally agree. And we are still in debt from last year.
We can get this under control, though. Absolutely.
Nice. Yeah. So yeah, so we tried to use most or all of them.
But yeah, so I said, I think we need to cut back on our spending, right?
So Stop spending so much. Stop spending so much.
Then I'm looking at the reports and we could be in the red in a few months, right?
So be in the negative, making a negative profit.
Yes. Yes. And then you said, I don't think we are close to going under. but we need to lessen some of the financial strain.
Nice. And then you said, totally agree. You didn't say, I totally agree.
You said, Totally agree. Even though this is a C-suite discussion, we don't need to be formal necessarily, right?
And we're still in debt from last year. Ooh, not good.
Not going not going too well. And it's hard.
I mean, sometimes I guess as An employee, it can be hard because we also don't want to get too drastic in our thinking.
You know, maybe you're seeing signs, but that doesn't necessarily mean your company's going under, as we say there.
Things could be just cyclical. Especially for companies that have been around a long time, they've seen cycles. comment like of success and then things are a little harder for a while.
So this is the connection topic, no matter how you slice it, whether you're a C-suite executive talking with another one or an employee just sharing what you've seen, what you're seeing.
Yeah, yeah, yeah, definitely. So really, really important stuff here.
So we also wanted, oops, something just weird happened to my, sorry.
Okay, here I am. Check out episode 433.
This was as a rule of thumb, use this vocabulary at work.
Nice. And that is the takeaway, what I just shared.
Is there anything else you want to add to that, Michelle?
These are diverse words. Yeah, definitely.
Really important. Very high level. And also, you know, we really touched on a lot of interesting things today.
Regarding, you know, when do we feel shame talking about finances?
So many interesting things that we went into.
Yeah, this was this was yeah, eye opening.
And I think maybe we'll have a poll related to like shame about sharing financial strain.
I'm really curious globally if what the deal is, like what the cultural differences globally we'll get into that in the poll so don't forget to vote in your poll for today and we'll see you back here very soon michelle have a good day all right you too lindsay bye guys bye thank you for listening to business english a podcast just for you the high achieving global professional Want more from All Ears English?
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