Why Do British People Hate Talking About Their Finances?

It is a well-known fact that the British dislike talking about money. This dislike springs from a wide range of social, economic, and historical factors. Whether you have concerns about getting in trouble if you discuss your salary with co-workers, fearing judgement if you discuss debt issues or a fear of appearing to show off, there are many reasons Brits keep their lips sealed about money.

All this secrecy can be detrimental, not only to our financial health but also to our mental health. The best way to solve a problem is to talk about it to someone who can offer advice. This goes for financial issues as much as any other personal or professional concern.

Why Do We Hate Talking About Money?

Many people avoid talking about their finances with family or partners because they fear that it will lead to arguments. This doesn’t necessarily have to be the case, and arguments are often caused more by a lack of discussion about money. Normalising the discussion of money can go a long way to reduce the chances of fighting about it.

There is also an element of the stiff upper lip culture that we Brits are famed for. People simply don’t like burdening others with their woes, whether financial or otherwise. Increasingly there is more and more acceptance of discussing financial problems with others, as the focus on good mental health practices becomes stronger.

What Are The Benefits Of Talking About Money?

The benefits of discussing money with others cannot be understated. The tendency to ignore an issue until it becomes too large to manage is one that many people experience. This can harm mental health and lead to further financial difficulties. Talking to someone, whether a professional financial advisor or a loved one, can help you find the best ways to manage your money.

Withholding information about your financial position can also have a negative impact on relationships. Being open and honest about your financial situation will allow you and your partner to make the best possible plans and decisions for the future. While talking about money problems may feel awkward and challenging, it is nothing compared to the potential consequences of allowing the issue to spiral out of control.

How To Prepare For Your Financial Future

Many people put off preparing for their financial future, preferring not to think about it or believing they have plenty of time to do so. In reality, it is often better to take out the right kinds of insurance and prepare for retirement even as early as your 20s. It can help to find a trustworthy financial wellness service that can help you make the right choices for things like life insurance, income protection insurance and pensions. An excellent choice are the pension, investment, and insurance experts at drewberry.co.uk.

How To Talk About Money

The best way to learn how to talk about money is to practice doing so. It is essential to avoid judgment when talking to others about money, whether your own or someone else’s. It may help to start small and discuss some short-term goals with your partner or a loved one. Making discussions about money into a regular occurrence can break down the awkwardness you might feel, eventually making it easier and easier to talk about bigger financial issues openly.

Who Can You Talk To About Money Worries?

It is often best to discuss your money worries with professional financial advisors. You can, and should, also talk to your loved ones, particularly anyone whose financials are closely linked with your own. The more you talk about money, the more others will open up about their own struggles, benefiting everyone.

The Link Between Financial And Mental Wellbeing

The link between financial wellness and mental wellbeing is evident. Financial worries are one of the leading causes of stress, anxiety and sleepless nights. As with many things that impact our mental health, talking about them with loved ones and trusted professionals can be invaluable.

It can help to consider how you feel about money and spending it. There are a lot of ways that past experience can shape our future relationships with money, so identifying patterns can be beneficial. If you feel that your mental health is getting worse, it is crucial that you open up to someone and consider seeking the help of a mental health professional like a counsellor or therapist.

Talking To Kids About Money

Talking to your kids about money can be the perfect way to break the cycle of fear, anxiety and awkwardness around talking about money. It may help to include them in discussions about money from an early age. Discuss how money works, how much money you have as a family and explain why some families may have more money than others, all in age-appropriate terms. Let them know it is okay to ask for help when they’re scared or worried so that they will feel more comfortable seeking advice about money as adults.