It’s good to talk goes the old adage and it’s certainly true as far as money is concerned. We’re very tight-lipped about the way we talk to our friends and family about our money. We tend not to talk about how much we earn, or how much we’ve borrowed to buy the house we live in, and we certainly don’t talk to anyone when we get into trouble with our money.
And it’s not healthy at all. It doesn’t help when we bottle things up general and if we don’t talk to people about our money it’s even worse, and that’s especially true given the circumstances we’re all facing right now.
It’s not healthy in relationships when we don’t talk to our partners about money and in fact more relationships tend to break down because of arguments over money than most other reasons.
There’s no right or wrong way to deal with money with your partner but any way you deal with it together is likely to be better than trying to deal with it on your own.
But the worst bit of all is when we don’t talk to the people that we owe money to if we think we’re going to have a problem paying them back. And that’s really crazy. Because our creditors can only help us come up with a sensible repayment plan if they know that we have a problem in the first place. They can’t second guess us and work out that if we didn’t make our monthly payment on our mortgage or personal loan it’s because we lost our job or have been off work sick and didn’t get paid. They will just assume that you didn’t pay them because you couldn’t be bothered or you’ve over-extended yourself and decided to pay someone else instead.
So if you find that you can’t pay your bills, or your circumstances change and you’re off work sick or you are made redundant, then make sure that the first thing that you do is pick up the phone to your mortgage company or loan company. They can only help you if they know that you have a problem.