Why Money Talks Make Us Squirm

Money talks, but not everyone is comfortable with the conversation. A recent survey shows that many Americans would rather discuss politics, religion, or even their weight than their bank account balances. About 61% of U. S. adults feel uneasy talking about their finances with family or close friends. This discomfort extends to other financial topics like credit card debt and annual salaries, which also make people feel awkward. Interestingly, fewer people are uncomfortable discussing their political (24%) or religious (18%) views. Even talking about love life (51%) seems easier than discussing bank accounts. This hesitation around money isn't new. Previous surveys show that only 38% of adults feel comfortable talking about their bank account balances, and 52% are uncomfortable discussing credit card debt. Younger people are more open about money matters. They grew up in a different era where discussing finances is more accepted. For example, Joseph Mallia, a 26-year-old marketing professional, enjoys talking about investing and saving with his family and peers. He believes that learning about money from others' experiences is valuable. Women, however, are less comfortable discussing money. Historically, women have been less involved in financial matters, which has created a stigma around the topic. This discomfort can negatively affect their mental health and financial decisions. For instance, 45% of women say money negatively impacts their mental health, and 36% have never successfully negotiated a pay raise. To become more comfortable talking about money, experts suggest engaging in financial conversations regularly. Joining communities or groups that discuss money can help build confidence. Practicing these conversations can make people more comfortable and informed about their financial situations.