Blog: Don’t shy away from conversations about money - Talk Money Week 2020

For many of us, money might feel like a taboo subject. However, talking openly about your finances – even if it’s just an honest conversation with yourself every so often - can have far-reaching benefits.

Healthy discussions about money are vitally important for our health, wealth and relationships, and the effect of COVID-19 has made it more important than ever to start these conversations.

Research from the Money and Pensions Service has shown that people who talk about money tend to make better and less risky financial decisions, have stronger personal relationships, and feel less anxious more in control.

Of course, it’s important not to share any secure information or private details, but discussing money can also help build financial confidence and resilience to face whatever the future holds.

Regardless of your age, looking after your money and budget is always a good idea. But specifically in later life, you may start to have new entitlements, additional costs and need information money matters you have not come across before.

If you’re unsure about any of these, our free helpline can offer free advice on these matters and help you make sure you’re getting everything you’re entitled to.

Worrying about money can be emotionally exhausting, especially if you’re keeping it to yourself, so just taking the time to get these worries out in the open can feel like a huge weight has been lifted.

Keen to talk about money but not quite sure where to start?

Whether you want to discuss finances with an older relative, friend, or just take some time to consider your own financial position, the Money and Pensions Service have some excellent guides on navigating difficult conversations about money.