Talking About Money
8 June, 2023Starting a conversation about money might feel daunting, particularly if you’re struggling.
But, as we recently explored for Mental Health Awareness Week, financial concerns can have a big impact on our mental health. Sharing worries with friends and family can help break down the stigma and help everyone get the support they need.
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There are many different reasons we might not want to talk about money. Sometimes we feel embarrassed that we can’t afford something when it seems that everyone else can. At other times we don’t want to seem like we’re flaunting our money by discussing how much a holiday or home improvement cost. However, being open about topics such as these can be really helpful for our community.
You might think you’re struggling alone, but there will be plenty of others in the same position as you, or finding it even harder to make ends meet. Sharing the problem is unlikely to solve it, but you might find solidarity with other people in a similar situation to you. Then you can share solutions, and help each other out with things like childcare, lift-sharing, and cooking together.
When you’ve spent a lot of money on a new appliance or a special event, it’s tempting to keep it to yourself for fear of bragging. However, sharing information about costs can be really helpful to people around you who are looking to buy something similar. If they know how much you paid for your new kitchen, they’ll have a better idea of how long they’ll need to save, or whether the deal they’re being offered by a company is actually good.
Sometimes, talking about money can reveal important information to you that you never realised you needed. For example, if you have a job, discussing your salary with co-workers is often seen as taboo. If you can find a way to overcome this and bring up the topic with your colleagues, you might find that some of you are being paid more than others because your employer knows that you won’t discuss it. Although it can be hard to bring the topic up, you might be glad you did. Once you know what others in your field are being paid, it is much easier to know your worth and ask your employer for what you deserve.
Please always be respectful of other people’s comfort levels. Many people won’t be ready to talk about money openly straight away, but you can start small by sharing more details about your financial life than you used to. Over time, this will help to break down stigmas around having those all-important discussions with family, friends, and colleagues.
If you’re struggling with money and your mental health, the resources below are a great place to start.
Scottish Association for Mental Health (SAMH)
