I recently backed calls to encourage conversations on money or to seek out financial advice as part of ‘Talk Money Week’ this November.
The theme this year is ‘Start the Conversation’ and is aimed at reducing the stigma around money through open conversations with families, friends, colleagues, and communities.
It also aims to highlight the importance of seeking out financial advice and support, and signposts constituents to services like MoneyHelper which provides free, impartial guidance on building a better financial future.
Research by the Money and Pensions Service, who provide this MoneyHelper service, shows that just 41% people in Scotland feel comfortable talking to their friends about personal finances and just over 51% feel comfortable talking about the topic with members of their family.
It may be difficult for some people to have open conversations on their financial concerns, but for those who feel they can, then research shows that people who talk about money generally make better financial decisions, have stronger relationships, feel less stressed and more in control of their finances according to the Money and Pensions Service.
For other constituents who may prefer to talk with an official financial advice service rather than someone close to them, then MoneyHelper is the ideal place for them to gain more information that may make a huge difference to their financial security.
I’m keen to tackle the stigma and help constituents feel more confident about starting a conversation or seeking out advice. Talk Money Week is a good place to start with more advice at their website: http://maps.org.uk/en/our-work/talk-money-week.
