Parents News Forum
National Talk About Money Week
Quote from Fergus McCarthy on November 5, 2024, 5:31 pmStart the conversation and improve financial wellbeing
National Talk About Money Week, 4th to 8th November, encourages everyone to open up about personal finance. This annual campaign raises awareness of the importance of financial discussions and aims to break the stigma around money.
Why talk about money matters
Many people feel uncomfortable to talk about money. In fact, a survey from the Money and Pensions Service shows that 81% of UK residents avoid financial discussions altogether. However, Loqbox data reveals that those who do talk about their finances experience better financial decisions, reduced anxiety, and stronger personal relationships. Finances remain a leading source of stress in the UK, which makes open conversations about money even more essential.
A shift in younger generations to talk about money
Encouragingly, younger adults show greater comfort in discussing finances. Around 27% of 18-24-year-olds say they’re comfortable talking about money with anyone, and 32% discuss finances with close friends or family. However, comfort levels tend to decline with age, highlighting the need to normalise financial discussions across all generations.
Today’s economic challenges, like rising inflation and cost of living, make it more crucial than ever to break the silence around money. Open financial discussions can help people learn, share, and ultimately improve their financial resilience.
Practical tips to start the conversation
1. Be open about your finances
Share your financial goals, struggles, or debt plans with trusted friends or family. Talking through money matters with others can offer fresh perspectives and keep you accountable to your goals.2. Educate yourself
If finances feel confusing, take small steps towards financial literacy. Many online tools, resources, and even free workshops can help you understand credit management, budgeting, and planning. Loqbox Co-CEO, Gregor Mowat, advises, “It’s never been easier to join the conversation. Just a few hours of learning can open up new financial opportunities.”3. Make financial discussions a habit
Talk about money regularly, not only when issues arise. Making money conversations part of daily life fosters healthy attitudes towards saving, spending, and future planning.Ending the stigma around money talk
Ending the stigma around money discussions is essential for better financial health. Tom Eyre, Co-CEO of Loqbox, highlights that, “National Talk About Money Week isn’t just about raising awareness; it’s about creating safe spaces for open financial conversations.”
Facing finances can be daunting, but taking that first step – whether downloading a budgeting app or talking to a friend – can make all the difference. Remember, everyone starts somewhere. For more tips and support, visit Loqbox’s financial wellbeing resources.
By starting these conversations, we can cut financial stress, improve money habits, and build healthier financial futures.
Start the conversation and improve financial wellbeing
National Talk About Money Week, 4th to 8th November, encourages everyone to open up about personal finance. This annual campaign raises awareness of the importance of financial discussions and aims to break the stigma around money.
Why talk about money matters
Many people feel uncomfortable to talk about money. In fact, a survey from the Money and Pensions Service shows that 81% of UK residents avoid financial discussions altogether. However, Loqbox data reveals that those who do talk about their finances experience better financial decisions, reduced anxiety, and stronger personal relationships. Finances remain a leading source of stress in the UK, which makes open conversations about money even more essential.
A shift in younger generations to talk about money
Encouragingly, younger adults show greater comfort in discussing finances. Around 27% of 18-24-year-olds say they’re comfortable talking about money with anyone, and 32% discuss finances with close friends or family. However, comfort levels tend to decline with age, highlighting the need to normalise financial discussions across all generations.
Today’s economic challenges, like rising inflation and cost of living, make it more crucial than ever to break the silence around money. Open financial discussions can help people learn, share, and ultimately improve their financial resilience.
Practical tips to start the conversation
1. Be open about your finances
Share your financial goals, struggles, or debt plans with trusted friends or family. Talking through money matters with others can offer fresh perspectives and keep you accountable to your goals.
2. Educate yourself
If finances feel confusing, take small steps towards financial literacy. Many online tools, resources, and even free workshops can help you understand credit management, budgeting, and planning. Loqbox Co-CEO, Gregor Mowat, advises, “It’s never been easier to join the conversation. Just a few hours of learning can open up new financial opportunities.”
3. Make financial discussions a habit
Talk about money regularly, not only when issues arise. Making money conversations part of daily life fosters healthy attitudes towards saving, spending, and future planning.
Ending the stigma around money talk
Ending the stigma around money discussions is essential for better financial health. Tom Eyre, Co-CEO of Loqbox, highlights that, “National Talk About Money Week isn’t just about raising awareness; it’s about creating safe spaces for open financial conversations.”
Facing finances can be daunting, but taking that first step – whether downloading a budgeting app or talking to a friend – can make all the difference. Remember, everyone starts somewhere. For more tips and support, visit Loqbox’s financial wellbeing resources.
By starting these conversations, we can cut financial stress, improve money habits, and build healthier financial futures.