Here’s Why Most Americans Don’t Talk Money with Friends

If you stop and think about it, there’s probably one subject you never, ever touch when you talk to your friends. Not even with your best, like-a-sister-friend. While it’s perfectly acceptable for you to spill all your little secrets about your life, you probably never talk money with friends. Well, at least, not if you’re outside of the Millennial age group.

Are Millennials Rude or Wise?

Heres how to talk about money
Source: PxHere

I’ll admit that I’m not always thrilled to be classified as a Millennial. They haven’t gotten the best reputation, especially in recent years with labels like “Snowflakes”. But, Millennials might be onto something in this case. Apparently, other age groups think it’s rude to talk money, even with friends. But, according to The Cashlorette, 63% of Millennials share their salary information with friends. Even 30% of them don’t mind telling a co-worker how much they get paid.

This is very different than older generations who tend to shy away from money conversations, even with those closest to them. In fact, past generations have considered the money conversation rude. Basically, it’s personal information that no one needs to know but you. It could spark hard feelings of jealousy, for example, if you get paid more per hour than a friend who believes she works harder than you.

However, Millennials seem much more open with just about everything. It could be a good thing when it comes to money. After all, why wouldn’t you want to share about that raise or bonus you just got? You’ve earned it. Shouldn’t the people closest to you know about it?

Here’s Why It Pays to Be Transparent About Your Finances

talk money with friends
Source: PxHere

Would you ever know if you weren’t being fairly if you didn’t talk money once in a while? You and your friends should compare notes sometimes. But, make it a point not to make it into something personal. If a friend makes more than you for a similar job, and you believe you deserve a raise, it’s not your friend’s fault. Instead, use that tidbit of information as fuel when you decide to talk to your boss about it.

Also, you’re more apt to help a friend in need if you know he really needs it, and vice versa. When you’re open about your finances, there’s a good chance someone will be there for you if you need a helping hand. If someone is a true friend, you won’t have to worry about him spreading your personal business to others.

So, the next time you avoid the money conversation, re-think it. If you’re going to spill the beans about every other aspect of your life, you might as well be candid about your finances, too.