For all the time I have lived in the UK I still get shocked and find it plain odd that Brits don’t openly discuss personal finances. We even have a saying that ‘the two things you never talk about are money and politics’. Well with Brexit I think we are talking a lot about politics so what would help us to talk about personal finances?
At MoneyMatiX we strongly believe in bringing financial conversations back in the living room. Why? Because we know that talking about money is empowering, whether you have little or lots of it. Growing up in Uganda, we would talk about money all the time, we were involved in our parent’s finances and businesses, we knew when they had and when they didn’t and it gave us the power to understand the true value of money. We encourage people around us to talk about personal finances because talking and storytelling is all a form of knowledge sharing and learning. Talking about financial situations relieves stress and anxiety because indeed a problem shared is a problem halved.
With Talk money Week coming up in November, we need to continue breaking the silence as its very hard to learn from something we don’t discuss. So, here are some tips to encourage you to start talking about personal finance.
Start by talking about an area of money you are most confident about. When we know a subject matter, we don’t feel silly when we speak about it. It gives us the confidence to tell other people about it. We can use this trick with money, with online forums all around us, its easier to talk to other people about many uncomfortable subjects, we can use the internet for good when it comes to talking about personal finance. If you found a bargain online or offline, share it with your community, talk to others about it, by doing this you are encouraging others to open up about finances. Build your knowledge base up slowly by reading, listening to podcasts or use the university of Youtube..
Set a financial Goal and find an accountability partner
Having a plan for your money is probably the best way to get comfortable with your money. For example, if you are saving for a holiday with your kids and husband, it’s a very good place to talk about the budget, what kids can contribute, what is coming in and going out. This is an exciting experience; it makes talking about the money much easier because of the end in mind which is the holiday. Goal setting is something I personally advocate for because it has worked for me and many of my friends. I have seen myself set a goal for kids thinking they will take much longer to achieve it but they always surprise me.
Find Like-minded people
Whenever you are trying to get comfortable with any new activity like going to the gym or healthy eating, you find like-minded people or those that will encourage you to stay on track, the same applies to money. Join our Facebook group where we talk about money in a very non-judgemental way. Search for saving money meetups offline sometimes you may feel better talking to total strangers.
As part of our contribution to talk money week, we will be holding a KuzaLearn financial education event in Edinburgh to talk about personal finance. We will also be holding a 2 day Hackathon event on everything financial education using business as a baseline subject. Register your interest here if you would like to support this amazing event.