Let’s face it: talking about money can be awkward, uncomfortable, and even stressful. In a recent survey, more than half (54%) of Brigit members say they find it hard.It’s a topic that a lot of us avoid, but it’s something we all have to deal with. So why is it so hard to talk about money?

1. Fear of judgment

One of the biggest reasons we shy away from money conversations is that we’re afraid we’ll be judged. 48% of Brigit users say that’s what they worry about most. We’re concerned that others might think we’re too cheap, or spend too much, or are not financially savvy. That can make us want to keep our finances a secret, even in our close circle of friends and family.

And when it comes to talking with friends, a partner, or family about it, Brigit users are divided. 28% say they find it easiest to talk about money with a spouse or partner, while 26% find it easiest to talk about it with other family members. Talking about money with friends came in a little lower, with 19% saying that was easiest for them.

2. Different values and beliefs

Everyone has different financial values and beliefs. What one person considers a necessity, someone else might think of as a luxury. Those differences can make it hard to have open and honest conversations about money because we risk being misunderstood.

3. Emotional attachment

Money can be tied to our emotions and self-worth. When we talk about it, we can feel vulnerable and exposed—maybe because it seems like a measure of how successful we are. (Or aren’t.) This emotional attachment can make it hard to be objective and rational, because it’s so personal. That’s the reason 51% of Brigit users cited for why they find it hard to talk about money. Close behind that, 48% of Brigit members say find it embarassing. And when it comes to success, 23% of Brigit users find it hard to talk about money because of how it might reflect on how others perceive their social status.

4. Lack of knowledge

Some people simply don’t have a good understanding of personal finance. It can make people self-conscious if they feel like they can’t talk about money intelligently and might look ignorant.

5. Cultural differences

Cultural differences can also play a role in how we approach money conversations. In some cultures, talking about money is considered rude, while in others, it’s a common topic of discussion.

So, how can we overcome these challenges and start talking about money more openly?

  • Start small: Start by talking about small, non-sensitive things, like daily expenses or savings goals.
  • Be honest and open: Share your thoughts and feelings honestly, without fear of judgment.
  • Listen actively: Pay attention to what the other person is saying and try to understand their perspective.
  • Avoid blaming and shaming: Focus on finding solutions rather than pointing fingers.
  • Seek professional help: If you’re struggling to talk about money with loved ones, consider seeking advice from a financial advisor or therapist.

Remember, open and honest communication about money is essential for building strong relationships and achieving financial success. So, take the plunge and start talking!