There are a several conversation topics that are likely to cause our British sensibilities to be strained. Some are probably best discussed in private and, if you want to avoid an argument whilst having dinner with friends, politics and religion are usually a no-no. However, considering money is the reason most of us go to work and it plays an intrinsic role in our day-to day life, it will probably come as a surprise to learn that around 80% of people in the UK avoid talking about their finances, even with a loved one.
Burying our heads in the sand about money can cause a huge amount of stress and that is why Talk Money Week in the UK is such an important initiative.
Each November people are encouraged to come together to start money conversations with colleagues, family and friends and in the wider community. Talk Money Week is designed to remove the stigma surrounding money matters and encourage open conversations to help people better deal with the financial worries and challenges they are facing and, ultimately, improve their wellbeing.
Research shows that people who talk about money feel less stress and more in control. They make better financial decisions, have stronger personal relationships and, by removing money from the list of conversation taboos, also help their children develop better money habits for life.
Talk Money Week is an opportunity for people to get involved in events and activities to encourage more open conversations about financial matters – be it pocket money or pensions – with the aim of these conversations becoming normal and taking place all year round.
This Talk Money Week people are being asked to “Do One Thing” to improve their financial wellbeing, and then share what they are doing with others, either via social media, in conversations, or however else they might choose. It doesn’t have to be something big. It can be talking to a child about pocket money, checking your credit rating or even opening those dreaded letters that have been stuffed in a draw. Whatever it is though, it’s hoped that by doing ‘one thing’ and then talking about it, they’ll feel better, and it’ll inspire others to do the same.
Employers are also encouraged to participate, which is where Better with Money can help. At Better with Money we provide high quality, fun and interesting financial education services to give employees the financial knowledge, tools and confidence to have a better financial future. We help demystify finance and, by making employees more confident about money matters, help reduce the anxiety and stress that money causes for many people.
Along with our widely acclaimed webinars, Better With Money also has a new Vlog service where employers can download our short videos on a variety of subjects to share with their teams.
So, our message to employers this Talk Money Week is: if you want to do one thing, download our latest Vlog and share it with your employees to help them become Better with Money. If, on the other hand, if you want to do more than one thing and want to find out more about the services Better with Money provides, please get in touch.