Why We Should Talk About Money
Money is a topic that often feels off-limits. Many of us grew up in households where discussing finances was seen as impolite or too personal, which has created a lingering social stigma around talking about money. Yet, breaking this taboo is essential for financial well-being and literacy.
Why Money Feels So Personal
Talking about money can make us feel vulnerable. If we’re struggling financially, we might fear being judged as irresponsible. If we’re doing well, we might worry about seeming boastful. These fears lead many people to avoid discussing their finances altogether, which can create a sense of isolation. Without open conversations, people miss the chance to learn from each other’s experiences, making it harder to build financial confidence and literacy.
The Cost of Staying Silent
Avoiding money conversations can lead to missed opportunities for learning and growth. Financial literacy isn’t just about knowing the basics—it’s about understanding how to budget, save, invest, and manage debt in a way that works for our unique situations. Studies show that people with stronger financial skills make better financial choices and are more likely to achieve their financial goals. When we don’t talk about money, we lose the chance to learn these skills from each other, whether it’s understanding tax strategies, building savings, or managing debt.
Benefits of Breaking the Stigma
When we get comfortable discussing money, we open doors to knowledge and support. Financial discussions offer valuable insights, whether it’s practical advice on budgeting or tips for growing wealth over time. Open conversations can also reduce financial stress. When people feel like they’re the only ones with money struggles, they may hesitate to ask for help. Normalizing these discussions can help us realize we’re not alone, and it can provide a path to support and solutions.
Financial Literacy Month: Let’s Get Talking
This November, Financial Literacy Month encourages Canadians to talk openly about money. By challenging the social stigma around discussing finances, we can foster a culture where people feel empowered to learn, share, and make informed financial choices.
Here are a few ways to start the conversation:
- Start Small: Financial conversations don’t have to be detailed. Start by discussing budgeting tips, recent financial articles, or a simple question about managing savings.
- Seek Out Resources Together: Websites like ABC Life Literacy Canada offer money management tools that can help spark discussions and provide insights.
- Talk with a Professional: Speaking with a financial advisor can be one of the best ways to build knowledge and confidence. Greg, Osoyoos Credit Union’s CEO, shared in a recent interview how essential it is to get advice tailored to your personal situation.
Let’s use Financial Literacy Month to make talking about money feel normal and positive. The more we share, the stronger we become financially—together.