Apparently we hate talking about money even more than illness and a little less than death. It’s a shame, because the providers like it that way – and the more we keep schtum, the less we understand our finances.
Talking about money just isn’t British.
This national trait was confirmed in a recent survey which showed that, after sex and death, money was the third least popular discussion topic in the home; even less popular than talking about illness.
And the same survey from Royal London revealed that sorting out our finances was the task that Britons put off the longest.
These taboos about money have got to stop. The less we talk about our finances, the less we understand them – and the more we play into the hands of providers, who will happily blind us with jargon and play on our fears.
Another recent survey by Unisys showed that bank card fraud was the number one security concern among UK residents. This is a reminder that, while we may not like talking about money, financial problems are often top of our list of priorities.
But by keeping our problems to ourselves, rather than working together to understand our financial challenges, we are more likely to rely on poor advice and make the wrong decisions.
It’s good to talk
The only way to level the uneven playing field between financial providers and their customers is for each and every one of us to improve our knowledge and understanding of money matters.
Talking about money a little more, and sharing our knowledge and experience, is an important first step.
If we’re informed and financially savvy we can help push the industry in the right direction. We can start by chatting about cash around the dinner table or in the pub – go on, there’s nothing to be afraid of. Or maybe you do already?
Are you happy to talk about money?
It depends on what it's specifically about (52%, 47 Votes)
Yes - it helps me make better decisions (44%, 40 Votes)
No - I avoid it at all costs (3%, 3 Votes)
Total Voters: 90