Don't talk about your salary.

I'm not sure where the origins of the don't talk about your salary rule started, but it has fostered a long-standing wage gap issue for nearly every firm in America. This rule started long before I received my first paycheck; years earlier, I had learned it in my own home.

I was a curious kid who also didn't mind asking my parents about adult topics, like budgeting, how much their house payment was, how and why my baby sister was born so many years after me, and how much money they made at work.

I can still hear my mother's well-meaning words to me: “Honey, it's not polite to talk about money, and you definitely shouldn't ask people what they make.”

So many of the messages that we've heard about salary, asking for what you want and our beliefs around money started in our families but continue in the workplace. For women, this is expensive as the wage gap continually shows women are paid less than men. 

But this extends far beyond salary. The wealth gap touches women's savings accounts, retirement investments and more. According to Wells Fargo, one in five women say they have no experience in investing. They also say that men tend to be more overconfident about investing than women. However, when women DO invest, they tend to earn higher returns than men because they trade less and are more likely to seek education and expertise than men. 

Getting comfortable with money matters. New survey data from the investment platform Ellevest, finds that not only do women stand to gain trillions of dollars in wealth as part of the great wealth transfer, but that they could also end up owning the majority of the wealth in the United States. Keep reading for five money conversations every woman should have - and some resources to have it!

PUT THIS IDEA INTO ACTION

What I know for sure after all my years working in human resources, in financial services and with clients who are making career changes is this: Money feels like one big secret, and not enough women like to talk about it. However, talking about money isn't shameful; it's essential for women to close the pay gaps.

The more women get comfortable talking about money, both in their personal finances and talking money with employers, the better chance there is to reduce the gender wealth gap.

Here are 5 money conversations every woman should have:  

1) CHALLENGE THE SYSTEMS

Women can start these conversations at work by asking their organizations about their compensation philosophies. Ask about diversity metrics, including the pay gap, and how the organization works to address it.

2) NOTICE YOUR SELF TALK

What self-talk holds you back from talking about money? Unfortunately, our negative inner talk track or cultural upbringing gives us lots of reasons and stories for not asking. The real question is, do those reasons lead us to the results we want? Not asking is an expensive habit, which costs us again in our peace, our potential, and especially in our paycheck.

3) NEGOTIATE YOUR SALARY

How often have you accepted the first salary offer, simply because it was an increase over your current pay? One of the core reasons a gap exists is because women do not take the initiative to negotiate their salary, putting them at an immediate salary disadvantage to their male peers.

4) EVALUATE YOUR SAVINGS

The sooner you start having the money conversation, the better off you will be because the interest you can earn on money compounds over time. A great place to begin having money conversations is ensuring that you are being paid according to the market rate for your role. Then, take advantage of every retirement savings vehicle your company has to offer. Second, ask for referrals for a trusted financial advisor.

5) ASK FOR SUPPORT

Ask for support in terms of reimbursement for leadership development - whether your company provides it or offers reimbursement. Your success as a leader ultimately impacts your paycheck.

What money conversations do you need to have today?