Why are people not willing to talk about money?

lippy1923

I don't really mind people knowing my annual salary. It makes no difference to me what people think of it. I don't try to keep up with anyone either. Quite happy still plodding along in my first little run-around car I brought when I was in my teens. Although I will always buy a new smartphone at the end of my contract

The only thing I wouldn't share with people I know would be my savings balance. IMO if people know you have money it's a way in for them to ask you to help them out here and there, which usually leads to problems.

I would have asked what your friends LTV was, if they were so against telling you their deposit amount.

FBaby

tea_lover wrote: »

It's no one else's business. I'm happy talking about finances within my family, but why would anyone else need to know? If a friend asked me about salary, savings, deposits etc. I'd find that very rude.

Why? I mean I'm not talking about a stranger coming straight at you and asking how much you earn, but doesn't it come into discussion you might have with friends? Surely friends can provide good advice. I find it odd that people can talk quite openly about detailed things they experience emotionally, if not sexually, but find it rude to talk about savings.

System

People including family don't like to hear of anyone any better off than themselves.

For the same reason you don't share the details of your wage with anyone you work with.

browneyedbazzi

DUTR wrote: »

When you both say Family, I'm thinking siblings and or parents?

TBH, my family don't know what I earn (they've never asked and it isn't information I would just come out with) - I didn't necessarily mean close in terms of the blood tie, but in terms of having a very close relationship with someone.

Kayalana99

FBaby wrote: »

Why? I mean I'm not talking about a stranger coming straight at you and asking how much you earn, but doesn't it come into discussion you might have with friends? Surely friends can provide good advice. I find it odd that people can talk quite openly about detailed things they experience emotionally, if not sexually, but find it rude to talk about savings.

This espically, same friend...we are not close friends but work friends and I only speak to her on dinners as thats the only time I see her...but when we meet we generally discuss her relationship troubles including the sex side of things ....

Know I had a few comments about asking LTV but although it did cross my mind she is in stages of wanting a house but not even looking so doubted she would know herself. (Although maybe she did but didnt want to push it any futher after her calling me cheeky )

Person_one

In this country, a lot (I'd say most actually) of us view money as a private thing. You only get to ask for details if someone's finances affect you or you're a professional, otherwise its rude.

The only people I know who are really open and brash about finances to all and sundry are:

A. Bragging about how much they've got
B. Bragging about how savvy they are
C. Carrying a huge chip on their shoulder about how little they've got

It really doesn't matter if you think you can help your friends with their finances, you can't demand they accept your help or be put out when they don't! Leave them alone, they're grown ups!

balletshoes

Kayalana99 wrote: »

I think I am mostly like my Dad, and he has always been very open with money and probally alittle to keen to tell me everything thats going on.

With this in mind, I've been brought up being very open with money and I have been finding more and more that 95% of people have no idea about how to handle money and won't even talk about it! (I think although that is my opinion it won't apply to this fourm as I would think the people on here are more likey to me money savvy )

Yesterday a girl told me she wanted to get a morgage but had no idea how to go about it... natually (to me) asked how much deposit she had in which she looked at me complety gone out so I asked her if that was cheeky question and she said yes very and refused to talk about it anymore...

I know a couple that are in debt, but are unwilling to share thier problems (and not to be big headed but I really think I could help them out here) yet same time they won't even tell you what income there on and unwilling to seek help even to a professional. (And recently I have found that they aren't really even talking to each other about it seems one hardly knows what the other has spare and vice versa)

More and more people are getting into debt but I feel if people were willing to talk about money and get more financially educated then we'd all be better off...

I know this will come up that people don't want to be seen to be 'worse off' then others - but to be blunt me and my OH are working but not earning alot (23k ish between us) so we can basicly afford a home and thats us and maj of people I know are in alot better postions so its not like that would be an issue.

Personally, I just can't see what the big hush up is about!

I agree with you - but thats not the same thing as someone asking you "how much do you earn and what are your outgoings because I can help slash that and get you saving" - because quite frankly your way of doing so might not remotely suit them or their lifestyle, or their choices.

If someone comes to you and asks for help, by all means they should be prepared to divulge all their financial details.

I also agree that things like mortgages, household budgets etc, should be discussed in secondary schools as life skills lessons. I didn't have a clue about mortgages when we started looking into getting one, but to be honest it really wasn't difficult to find out - Google is your friend.

hannah899

To me i will tell my nan or mum or my bf most of it. But anyone else it depend how i feel. But if i was the girl i would have just said around about £xx,xxx. yes maybe a cheeky question but if she hasn't got a clue and you do you could say well you have £30,000 from this bank you could get a mortgage for £xx.xxx. The problem with that is she could go get a very bad mortgage that in the long term may really f up her finances but than again if she don't wanna talk about it that's there problem and they only have their self to blame.

True_Blue_3

I think most people see being in debt as a failure, and not willing to discuss it. But truth is, most people are in debt. The country is geared up to run on debt.

marisco_2

To be honest I am a very private person and only those closest to me know me really well. Even those people have no knowledge of my financial affairs and that is the way I like it. I am very thankful to my dad for raising me to be money savvy though. I had savings accounts from a very early age. As I grew older he sat me down and showed me how to budget carefully and explained just how much it costs to run a home and what has to be considered.

He explained all about loans, credit cards etc and how to use them to your advantage and not get into trouble with them. He openly discussed with me how he and my mum had saved for years, to get a deposit together to buy their first home and how they had gone about obtaining a mortgage. I didn't know or want to know the ins and outs of his financial affairs but I understood how it all worked. Instilling this kind of knowledge in your children is one of the best things you can do for them, and I intend to do this with my own sons.