It’s hard to talk about money with a partner or friend, but there is help out there. MoneyHelper gives some great tips in their article ‘How to have a conversation about money’ on how to prepare for and start a conversation, including how to deal with any negative reactions and how to end positively, with a clear action plan.
Before you start the conversation, it may be helpful to have the following:
- a monthly/yearly budget including all outgoings such as household bills, insurance renewals, lifestyle costs etc
- an idea of future financial goals
- targets and next steps
Starting to take small, practical steps may also help to ease gnawing money worries straight away. Easy lifestyle changes can make a huge difference. For example, cutting out your £2.50 daily takeaway coffee could reduce your annual expenditure by more than £600.
Read our ‘tips to improve your financial and mental health this year’ to understand why it’s so important to have these conversations.