Three in 10 young adults would rather discuss politics, religion or family drama than money, new research has revealed. A poll of 2,000 adults found 36% would not bring up the topic of money at the dinner table because they consider it 'bad manners'.
Money talk makes young adults uncomfortable
The poll found that talking about money made young adults feel embarrassed and uncomfortable. Half of those aged 18-34 find conversations about money awkward, while 31% worry they would be judged for their finances. Instead, 15% admitted they would rather visit the dentist or deep clean their oven.
Areas young people found particularly uncomfortable to talk about were savings, salary and debt. Many avoided talking about debt altogether, while others found it difficult to admit they could not afford something.
Campaign aims to break the taboo
The study was commissioned by The Co-operative Bank as part of its Money Natters campaign, which encourages more open and honest conversations about money. Kat Robinson, head of everyday banking, said: "We're a nation that cares about our table manners, but money is still one subject many of us would rather leave off the menu."
"We'll happily talk about religion, politics, or family drama while some of us would literally rather clean the oven than have a detailed conversation about our finances."
People in the East Midlands were the least comfortable talking about money (14%), followed by those in the Northwest (14%) and Yorkshire & the Humber (12%).
Open conversations could boost savings
Economic modelling by Cebr found that talking about money more often could help people make better decisions about how they spend, save and invest. According to the data, people who talk openly about money tend to have double the median cash savings of those who don't, holding £7,500 compared to £3,750. Those who talk about money are also 11% more likely to save regularly.
According to the OnePoll.com data, 46% of those who have had conversations about money found them helpful, compared to just 7% who said they weren't. Over a quarter (26%) said talking more about money would make them feel more financially secure, and 55% believed people would make better financial decisions if they spoke about money more openly.
Clare Seal, financial coach, author and Money Natters campaign ambassador, said: "Many of us grow up believing it's impolite to talk about money, but staying silent can often leave us feeling more anxious and less confident."
"The reality is that money conversations don't have to start with numbers, they can start with simple questions."
Playing cards to spark conversations
As part of the campaign, The Co-operative Bank has teamed up with HelloFresh to bring money conversations back to the dinner table where people naturally connect. Selected meal kits will include a pack of playing cards that double up as fun money conversation starters, designed to get people talking openly about finances.
Kat Robinson added: "When we do get talking about money, it can really help, which is why we've teamed up with HelloFresh to help take some of the awkwardness out of getting started."
"It doesn't have to turn into a big financial heart-to-heart – sometimes all it takes is one question to break the ice. Whether it's a game of snap with the family or playing around the dinner table with friends, the cards are designed to get people talking about money in a way that feels fun, natural and pressure-free."
