stick-in-the-mud attitudes

Newly_retired

Have just given a relative some well meant advice re finances only to be subject to a tirade of verbal abuse. All I was suggesting was getting 4% on the Lloyds TSB Vantage account, moving savings into a higher rate account and going "dual-fuel" - all good MSE advice. Why are some people so stubborn and set in their ways?

margaretclare

Why? I dunno. Could ask the same question very often!!

What does your relative want to do?

Anyone who leaves savings in an account paying derisory interest is, IMHO, a total idiot.

We have formed the practice of taking a hard look, every couple of months or so, at what is going out, and look to see whether we can get a better deal. I wouldn't dream of leaving everything just to coast along and not to keep an eye on it.

I am quite a 'crusader' in favour of fitness and exercise for older people - to maintain strength, flexibility, mobility for as long as possible, even when the only option is a chair-based routine. I've also had what amounted to a tirade, not quite of abuse, but near enough. 'I don't like exercise, never liked it when at school (!!!), don't see the need for it and if I do it it's only as a social occasion, to meet others and not to work up a sweat'.

What annoys me more than anything is when someone makes a point of asking you for advice, then when it's given, goes round in circles and gives a hundred reasons why they can't do it.

Newly_retired

Yes, exactly. His main point was that the bankers are all gamblers and by making use of the various ways of getting higher interest, I am as bad as they are! My view is that it is up to us to get whatever we can out of the banks by all legitiate means and if that involves a bit of extra effort on my part, it is worth it.

Claire_Bear

Some people think that by giving advice like that, you're criticising the way they're doing things now, and maybe suggesting that this person couldn't handle their own finances. Silly I know, but it might have something to do with it?

seven-day-weekend

I have had negative reactions from people when I have pointed out that they will not be getting their Pension at 60, or that they will not be entitled to a particular Benefit.

I think they don't like hearing the news, so shoot the messenger.

I don't bother giving the advice now, unless I'm specifically asked.

EdInvestor

Newly_retired wrote: »

Have just given a relative some well meant advice re finances only to be subject to a tirade of verbal abuse. All I was suggesting was getting 4% on the Lloyds TSB Vantage account, moving savings into a higher rate account and going "dual-fuel" - all good MSE advice. Why are some people so stubborn and set in their ways?

7DW's comment about shooting the messenger rings a bell.

They know they need to make changes, so seek info on what to do,but then take it as a personal criticism of their own inadequacy, which has caused the need to make the changes in the first place.....

Many people find finance difficult to grasp, boring, and possibly embarrassing if they are secretly a bit 'short' on an ongoing basis.Talking about money has also been seen as socially dubious for many years in some circles.

So it's a minefield all round.

Sites like this one however are opening up a much more relaxed approach these days, so it's hopefully just a matter of time before personal finance just becomes a normal subject of conversation and people who can offer insights are valued rather than subject to unjustified blame.

pollypenny

I agree with all the above. I suppose we have to careful not sound like the Harry Enfield interfering dad character.

Errata

Advice is often dodgy. I always say 'I'm going to give you some advice so you can ignore it' which lightens the mood and bizarrely makes the person I'm talking to more open to listen to me.

dzug1

A version of the NIH syndrome

lilac_lady

Or the MYOB syndome.

Newly_retired

The person concerned actually nicknames me his "financial advisor", yet he chooses to ignore what I say.