Time to talk money
Commentary | 10/11/21
This week is Talk Money Week run by the Money and Pensions Service (MaPS). Set up by government, MaPS exists to ensure every person feels more in control of their finances throughout their lives.
Talk Money Week is a campaign designed to increase people’s sense of financial wellbeing by encouraging them to open up about personal finance.
People in the UK don’t talk about their money enough. Despite the COVID-19 crisis affecting our finances, 9 in 10 UK adults don’t find it any easier to talk about money, or don’t even discuss it at all.
Research shows that people who talk about money:
- make better and less risky financial decisions
- have stronger personal relationships
- help their children form good money habits for life
- feel less stressed or anxious and more in control.
Building money conversations into our everyday lives also helps us build financial confidence and resilience to face income shocks, life events and whatever the future throws at us.
MaPS have put together a number of guides to help you start to talk about money here. These cover talking to a partner or your children about money, amongst others.
Learn more about Talk Money Week here.