How to talk about money with your family

to talk about money with your family

Money. It seems to be one of the last taboo subjects in our society. A lot of the time, people refuse to discuss it with professionals — let alone with their close relatives or partners.

Why is this, though? Our finances, after all, are a huge part of our daily lives. It’s important to talk about your money with your family.

Voice your concerns to family members, and they may be able to help you. You can also share ideas on financial management, too.

You just need to broach the subject. Here are three easy ways to do this.

Talk informally

Money is a serious topic — but you don’t have to address it in a serious way. If you do talk about money with your family in this way, it could put them off, and it may also make the conversation feel awkward.

Remember that you’re talking to people that you know very well. Really, there’s no reason to feel embarrassed.

It’s most likely the taboo around the subject that causes unease — both for you and your relatives. So, why not break it together?

Once you start to talk about money with your family informally, you’ll realise how easy it is to do.

Make a to-do list

Why don’t you plan for your meet-up in advance? Invite each member of the family to write a to-do list to discuss.

In doing so, everyone gets a say — and this may very well help to avoid any risk of argument. And so, the discussion can stay informal and straightforward.

Also, you’ll be more likely to complete each point quickly with a checklist. Assign a specific chunk of time to every issue. You can then ensure that all family members receive an equal amount of attention.

Do this, and you could create a positive atmosphere throughout the session. As a result, family members may feel more inclined to contribute to ‘money meetings’ in the future.

Celebrate afterwards

It’s typically a duty — more than a pleasure — to sort out finances. So, many of us might need an incentive to help get through the discussions in hand.  

How about a post-chat celebration? Choose an activity suited to the whole family like a picnic, a bike ride or a takeaway. That way, everyone will have something to look forward to when the meeting has finished.

This may be particularly useful if your relatives aren’t that keen on the idea of discussing money. The offer of a post-meeting treat could very well help to raise their enthusiasm.

Better still, it will provide an opportunity for some quality bonding time.

Worried about how to to talk about money with your family? It needn’t be a thorny issue. When you know how, it can be easy to discuss with family members. With these tips, you could each help one another to better manage your assets and secure a better financial future.

Do you find it difficult to talk to your family about money? Or perhaps you have some tips for making it easier? Do leave a comment and share.

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