Tips for talking about money with loved ones

Discussing money with your loved ones isn’t always easy. Finances can be a touchy subject that people are reluctant to talk about, causing stress and worry.

Getting comfortable with talking about money and finances with those who are close to you is important, and doing so is a sign of trust. When you’re comfortable discussing finances with others, you can reach out for advice and guidance if you need it.

How to get comfortable with discussing finances

Here are top tips to help you become more comfortable with talking about the subject of money.

Pick the right person

You may not want to talk to just anyone about your finances, so be discerning. Choose someone you’re comfortable with, someone you trust and someone with whom it is important to have this conversation.

Choose the right time

If you want the best results from your discussions about money, you need to choose the right time to initiate this conversation.

Ideally, you should talk about this sensitive subject when you’re somewhere that you feel comfortable and relaxed so you feel able to open up fully to your loved ones. Of course, you should also choose a time when you’re in a private area where others won’t overhear your conversation to protect yourself.

Set an agenda

Before you initiate any conversation about money, set your agenda. Identify what you want to achieve from the conversation and what actions you want others to take. Setting your agenda will ensure that the conversations you’re having about finances go smoothly.

Focus on your financial goals

When you have strong financial goals, you’ll find it easier to share them with others and talk more openly about money and budgeting. Sit down and think about what finance-related goals you have, when you want to achieve them, and how you’re going to reach them.