Talking about money to yourself  

Research has shown that sharing your money goals and values with those in your life will improve financial satisfaction and get you to your target quicker than if you keep them to yourself.

However, maybe you’re not up to talking to others about money. That’s ok. Instead, why not start by having an honest money conversation with yourself?

Use this checklist to write down everything you think about money and what you would like to change.

What are my long-term goals and aspirations?

Typically, the things you want will require money, so think about how much you’ll need and how you can get it. Our budget planner will help you take control of your spending so that you can achieve the goals you have listed.

Are there any immediate problems I need to get to grips with?

Worried you have debt or might get into debt? Concerned your money worries are affecting your mental health? Worried about your relationships? There are actionable things you can do before you have to talk to your loved ones.

How can I make my goals happen?

What are the first small steps you could take towards achieving your goals?

For example, how about looking at ways to cut back or save money, or putting a bit extra into your pension?

What is stopping me from achieving my financial goals?

Is it hard to talk to your family about money? Or are you worried you’ll say or do the wrong thing? If any of these are a problem, you are not alone. Lots of people struggle to talk about money and often it’s because they don’t know where to start.

Talking through money intentions with friends and family can make us more likely to keep our promises. If you want to reach a savings target, making a public commitment of your goal to your friends or family, and reporting back on progress, can get you there quicker than going alone.

However, talking to a professional, such as the Money Advice Service can be a great first call. Our trained agents are there to help you get over any barriers and put you on the right path to making things happen. And they cover almost every money topic you can think about, including savings, borrowing, mortgages, pensions and debt.

Once you’ve answered these questions and got your list together, you could even take this a step further and show what you’ve written down to the people who matter. This will help them understand how you are feeling.

They might want to fill in their own version of the checklist. You can then use each other’s answers as a starting point for more meaningful conversations.

How to talk about money

If you’re worried about how the person you want to talk to might react and want help on how to handle the conversation well, read our guide How to talk about money.

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