Brits would prefer to talk politics than money, according to study

Cha-ching (Picture: Getty Images/iStockphoto)

Talking about money isn’t normalised in our society.

Deemed taboo, discussing it requires mustering up some courage.

As it’s spoken about so seldom, it can be hard to know who around you is also willing to be open.

A survey by Mastercard found that 30% of Brits are completely uncomfortable when the topic is brought up.

Topics people would rather chat about include politics, relationships, health and career, showing people would prefer to get personal than financial.

Politics being a preferred talking point in particular highlights our discomfort in discussing money, given that it’s also seemed ‘risky’ and unsafe for pleasant conversation.

Results show that Gen Z are more likely to be comfortable discussing money than older generations, suggesting a shift in attitude is perhaps happening.

Over a third of those aged 45 and up won’t talk money, while only 24% of those aged 16 to 24 feel the same.

A generation known for being more open on other ‘taboo’ issues such as mental health, it seems money is getting the Gen Z treatment too.

UK cities least comfortable talking about finance, according to stats:

  • Bristol (36%)
  • Newcastle (35%)
  • Glasgow (33%)
  • London (32%)
  • Birmingham (32%)

The findings come as the wealth gap in the UK has increased, owing to the pandemic which has reshaped many people’s finances for the worse.

Mastercard say adults in the richest 10% of households now have wealth of £1.4million each, following a £50,000 increase during the pandemic, while the poorest 30% gained an average of just £86 per adult in additional wealth during the same time. 

To help make these conversations easier, the company are running Nobody in the Dark, a free campaign set up to support those with digital and financial barriers.

Ways to talk about money

Set up a pay review: Nearly half of employees feel they aren’t paid what they’re worth, but many won’t ask for more money. Though it’s difficult, asking, at best, can pay.

Get more comfortable alone: Do you find it hard to discuss because you don’t know money lingo, or aren’t sure of your own situation? Set aside time once a month to go through your finances and do some research.

Talk to someone trusted: Before asking your colleague what they earn, turn to a close friend first to get better acquainted with talking about money. If you’re with a person you trust, you won’t be so worried about how they might respond.

If you want more tips and tricks on saving money, as well as chat about cash and alerts on deals and discounts, join our Facebook Group, Money Pot.

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