Many people would rather talk to their parents about sex than money, says study

Millions of strait-laced people would rather endure a toe-curling chat with their parents about sex than discuss money with them. The UK is a nation of people that would rather discuss tricky topics like sex, politics, ex-partners and religion than talk to their loved ones about their financial situation, a study has revealed.

Online secured loan lender Evolution Money quizzed 2,000 people about how they feel about discussing money matters with friends and family. The survey revealed one in 10 Brits would rather speak to their parents about getting jiggy between the sheets than their economic woes.

More than half of people (52%) are more likely to turn to Google for money advice than ask friends or family, while almost half (42%) would rather have a political debate than chat about financial matters. Around one in seven (13%) think that having a conversation about ex-boyfriends or girlfriends would be less awkward than talking about their personal finances.

One in five parents surveyed (20%) said they’d also rather talk to their children about their own relationship problems than discuss money matters with them. But feeling comfortable discussing cash-flow problems seems to be something that improves with age.

A whopping eight in 10 (82%) aged 65 or older are ‘happy’ to discuss money woes with their partner, whereas two thirds of 25–34-year-olds (64%) wouldn’t be totally comfortable doing this. Reassuringly, only one in 25 of the over 65s surveyed (4%) would feel embarrassed speaking to their partner about money.

While the survey suggests it can be difficult to pluck up the courage to speak to loved ones about money, it also revealed that once these conversations are started the experience is rarely as bad as anticipated. The vast majority of people (71%) said that when they have braved a discussion about money it was actually fine.

One survey respondent said: “I’m very open and will talk about anything. It’s good to share and get advice so it’s a positive.” As part of the research, Evolution Money also reached out to a specialist psychologist who agreed that being open and truthful can be helpful when discussing money issues.

Dennis Relojo-Howell, founder and managing director of Psychreg, said: “Money matters can bring negative feelings such as guilt and embarrassment. We often avoid asking for financial help, this is because anything important in our lives is emotional.

“Our relationships are emotional, our work is emotional and so is our money. When you experience financial difficulties it can create some tension between you and family and friends.

“But when it comes to money, it’s best to be truthful.” Hannah Dearden, Operations Marketing Executive from Evolution Money, said: “Here in the UK we aren’t exactly known for being open about our feelings.

“Our survey findings certainly suggest that there’s a stigma when discussing financial problems. Everyone will experience financial difficulties at some point in their lifetime.

“Perhaps things can change in time so that we can be more accepting of the fact that we need a helping hand from time to time.” For more information on Evolution Money’s research around ‘Money Talk’ please visit here.

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https://www.walesonline.co.uk/news/cost-of-living/many-people-would-talk-parents-24122656

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