The Cost of NOT Talking About Money

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How often do you talk about money with your partner? Your kids? Your friends or coworkers? For most people, the answer is almost never. Research has shown that 63% of adults don’t discuss money with family, 75% don’t discuss it with friends and 46% don’t even talk about it with their partner.1 In fact, most people would rather talk about death than personal finances. Think about that.

  1. Acknowledge any discomfort with the subject, as this will help make the rest of the conversation easier.
  2. Be honest about your financial situation and share concerns and goals. This authenticity fosters trust, encouraging others to open up too.
  3. Practice active listening, show genuine interest in others’ stories and perspectives, and offer support and guidance where needed.

Sources: 1 Empower. April 19, 2023. “62% of Americans don’t talk about money according
to new Empower research, and their silence may come at a cost.” https://www. Accessed Oct. 24, 2023.
2 Johnny Thomson. Big Think. Aug. 18, 2022. “Talking about money is taboo.
You should break it.”
Accessed Oct. 25, 2023.
3 Morgan Laing. Standard Life. Dec. 12, 2022. “Why now might be a good time to
talk about money.” Accessed Oct. 24, 2023.

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