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Let's TALK About Personal Money

Updated on January 3, 2011

For many people talking about personal money issues is one of the last taboos. This inability to talk about personal money and finance extends to everything about money and I know that many people feel this way.

We, in the western world simply don’t talk about personal money.

It used to be that we didn’t talk about sex, religion and politics but now these topics are bandied about readily but for some reason the taboo about personal money and finance is firmly in tact.

Can you remember a time when someone came up to you and said,

'I’ve just got an $X pay rise?'.  They might say it in percentage terms but often not in dollar terms.

Or said, 'I've just saved X'?

Debt is Affected too

However, it extends to debt too.

Have you heard anyone say,

“I’ve got one heck of a mortgage and I don’t know how I’m going to make the next payment”?

Or

“I’ve just had a wonderful splurge and to pay for it I had to use two credit cards because one was at the limit and I’m darned sure the other one is close to its limit too!”

No, it doesn’t happen or doesn’t happen often. It’s unhealthy and increases the burden, particularly of those who are having trouble budgeting or with other money and finance issues.

TALK about Money

You can unburden by talking about money.  I recommend you choose your confidants carefully. Why? Because the general population isn’t used to people talking about money issues – whether those experiences are positive or negative.

Avoid choosing people who will judge you or use you as a benchmark to pat themselves on the back. You want relatives, friends, colleagues, professionals you can trust. Afterall this is very sensitive information – made all the more sensitive by the secret veil around it.

Begin by revealing your money situation slowly – just test the waters and see what the reaction is.


If your slow reveal works, talk some more.

Know what you want to achieve

Be clear about what you want to achieve by revealing. Do you want advice (in that case talk to a financial professional) or do you simply want to share the burden (in which case a friend will do). If you need personal financial planning advice then again, you need to talk to a professions.

Keeping money secrets can make those with personal money issues feel very isolated and it can add to the stress levels. In revealing your situation, you never know, you just be helping someone else as well.

Some great books to help you talk about money and begin walking down the path of financial freedom

Spenders and Savers

We often find ourselves in relationships with someone of the opposite approach to money. By that savers often pair up with spenders and spenders choose someone with saving characteristics. If you would like to find out more about this then check out Can Spenders and Savers live in Harmony?

This article is copyright Travelespresso.  Do not copy.


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    • travelespresso profile imageAUTHOR

      travelespresso 

      7 years ago from Somewhere in this exciting world.

      I think you might have highlighted an important point. There just could be some truth in what you say about people wanting others to think that everything is under control. But, I also think privacy is an important issue.

      As always you've left an insightful comment Karanda. Thank so much for stopping by and commenting.

    • Karanda profile image

      Karen Wilton 

      7 years ago from Australia

      This is so true. Do we simply want to pass on the impression that everything is under control or are we more concerned about keeping our finances personal, you know, hanging on to the last of our privacy? You have raised ome good points for further discussion in this hub.

    • travelespresso profile imageAUTHOR

      travelespresso 

      7 years ago from Somewhere in this exciting world.

      That's SO true Simone. If we were able to talk about money in an open, honest way I believe financial literacy would improve dramatically.

      Thanks for stopping by and commenting.

    • Simone Smith profile image

      Simone Haruko Smith 

      7 years ago from San Francisco

      I so appreciate your bringing this issue up - money is such a tough issue to talk about these days, and I feel that if we were more open, we might develop a bit more financial responsibility as a society. Here's hoping to better communication about finances in the future!

    • travelespresso profile imageAUTHOR

      travelespresso 

      7 years ago from Somewhere in this exciting world.

      Soni I believe that if we can talk about our money situation then it'd be much healthier. This is something I need to learn too.

      Thanks for stopping by and commenting.

    • travelespresso profile imageAUTHOR

      travelespresso 

      7 years ago from Somewhere in this exciting world.

      Maybe its that we're ashamed to talk about money but it might be that its regarded as taboo in many societies. I am sure it will help if we can talk about it without being judged. Thanks for your comment lilibees.

    • soni2006 profile image

      Rajinder Soni 

      7 years ago from New Delhi, India

      Yes we need to start talking about our personal finances if we want to improve our financial situation. I agree with you friend.

    • lilibees profile image

      lilibees 

      7 years ago

      You are so right I think in this society maybe people are ashamed of there money situations, and would rather not talk about it! Great HUb!

    • travelespresso profile imageAUTHOR

      travelespresso 

      7 years ago from Somewhere in this exciting world.

      Gosh, you were quick off the mark! Some societies DO talk about money but many don't. I didn't make that distinction but thanks for pointing it out.

      When you come from a society where people don't talk about it then it is such a burden.

      Thanks for your comment tipoague.

    • tlpoague profile image

      Tammy 

      7 years ago from USA

      Great topic. Where I come from many people talk about the financial troubles they may be facing. Where normally they wouldn't say much, with the economy as it is, they are starting to speak out more. We took a major job loss when a corporation supporting half the town shut down. It was hard for people use to money not to have it anymore.

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