It’s no secret that people don’t like talking about money. In fact, the resistance is so strong that, according to new statistics by payment provider Laybuy, women would rather discuss death than finances and only 12% feel comfortable enough to ask for help when they’re struggling with it.
Yet when you think that most people will experience some kind of financial insecurity during their lifetime (shockingly, 49% of women claim their financial future is a top everyday stress) and consider the effect that has on mental health, you have to ask: why is the subject still so awkward?
We should be able to talk about money as freely as we do an annoying boss or doomed Hinge date over a glass of wine with friends. After all, opening up about what’s bothering you is the first step to tackling your problems – in life generally and when it comes to your financial wellness.
Often, the hardest part is admitting we might be struggling in the first place. A great first step is taking Laybuy’s five-minute Financial Health Check, which allows you to assess how you are coping financially by answering questions such as: Can you be honest with friends if you don’t have the spare cash for social plans? Do you feel optimistic that you can manage and pay off any debt you have? Do you put away a set amount of money every month into your savings? Ultimately this will build a holistic picture of your financial wellness.
It’s only in acknowledging the problem that we can then choose how to deal with it, whether that’s confiding in family, seeking support from a friend or consulting a professional for advice. Being transparent about your concerns will reduce the anxiety around your finances and provide you with greater tools to remedy them.
So, in the spirit of practising what we preach, we’ve asked five Refinery29 staffers to get honest about what freaks them out most when it comes to finance, hopefully encouraging you to do the same.
Let’s get real about money…