Opening Up About Finances With Friends

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As we age, our friendships often evolve to become as close as family. We spend most of our time with these chosen companions, sharing our deepest thoughts and feelings.

However, despite this closeness, there’s often an unspoken rule against discussing money. It’s almost as if we can talk about anything except our financial situations and struggles. In my own experience, conversations about money troubles with friends only seem to happen after we’ve sorted things out ourselves. It’s as if we need to distance ourselves from the shame before we can bring it up – in effect to prove that we can deal with it ourselves.. But by waiting until the issue is resolved, we miss out on the support our friends could offer us during tough times. Instead, we inadvertently reinforce the idea that financial problems should be hidden away and never talked about.

I’ve been pondering why this taboo exists, and it seems to stem from the lingering belief that how we handle money reflects our social status. Even though society may not overtly judge us based on our wealth as it once did, there’s still an underlying awareness that our financial decisions could affect how we’re perceived by others. This fear of judgement fuels the silence around money troubles, both within our wider social circles and within our friendships.

However, I strongly disagree with this mindset. I believe that open conversations about money are essential for fostering stronger relationships and dismantling the stigma surrounding financial struggles. When we share our challenges with trusted friends, we not only receive much-needed support but also chip away at the notion that money is a taboo topic. It’s time to break free from the silence and embrace honest discussions about money within our friendships.

To learn more about how to open up about finances with friends listen to the latest episode of the Money Matters Podcast here