This week is Talk Money Week, the annual campaign that encourages people to have more open conversations about their money with friends and family. While talking to those closest to you about money may, on the face of it, sound easy enough, in reality it can be a challenge.
The subject of finance can be emotionally charged, which means discussing it with loved ones can be tricky. Consequently, starting a conversation about it can sometimes feel extremely daunting.
But conversations about money aren’t always with other adults. You may want to educate or discuss money with younger members of your family, which can feel equally as challenging.
Whether discussing pocket money or pensions, Inheritance Tax or Investing, having an open conversation could provide peace of mind for you and those you talk to. So, if you want to talk to loved ones about finance but are asking yourself: ‘how can I discuss money with family and friends?’, here are five positive tips that could help.
1. Use a broad topic to open the conversation
How you start the meeting is critical, as getting it wrong could result in the other person becoming confrontational. One way you could start the conversation with a lighter tone is to refer to a topic that’s in the media and use that as an opener.
For example, you might want to refer to the higher cost of living, or the announcements made in the 2026 Budget. To learn more about five key announcements made by the Chancellor, John Healey, in the Budget, read our informative blog.
Because these are broad subjects, it may be easier to engage the other person, and you can then focus the conversation in on the specific subject you want to discuss later on.
2. Think carefully about your tone
Whenever you’re talking to those closest to you about money, be careful not to lecture them or sound judgemental. This could result in the other person becoming defensive or refusing to engage in the conversation at any level.
A good way of achieving this is to come from a place of curiosity and ask questions instead of making statements. So, for example, instead of suggesting something, you could ask them whether they’ve ‘considered’ or ‘looked into’ it.
By asking searching questions without looking as if you are, you’re more likely to have a positive conversation that provides the outcome you want.
3. Consider using ‘what if’ scenarios
Discussing different outcomes and scenarios can be a powerful way to open up a conversation. That said, care may need to be taken.
If the other person feels your ‘what if’ scenarios are unrealistic, overly dramatic or too negative they may become defensive or refuse to engage in the conversation. Taking your time to consider the ‘what ifs’ you want to use, and how you can share them in an understanding, patient and realistic way, could increase the chances of success.
For example, you might want to ask: “what if you won the lottery, what would you do with the money?” Using the ‘what if’ scenario can provide an insight into the other person’s view on money, financial security and aspirations.
4. Limit the number of people involved
Having too many people involved might make the meeting overly long and unnecessarily complicated. As a result, you might want to limit the number of people involved in the discussion.
While this may mean more than one conversation will be needed, it could still mean you get an agreement more quickly, as you won’t have too many people offering too may opinions.
5. Include a financial adviser
Someone you might want to include in the conversation is your financial adviser. Having a trusted and neutral individual could help to keep the tone of the discussion more constructive, and result in a quicker agreement that everyone’s happy with.
Most financial advisers are used to talking to clients about money, as well as their mortality and intergenerational wealth planning. This means they are experienced in dealing with difficult conversations in a respectful yet proactive way.
This can help to ensure all the points you want to discuss are covered, even when they’re emotionally charged, and a positive outcome reached.
How can AFH Wealth Management help?
As one of the UK’s leading financial advice companies, we have extensive experience in talking to clients, and their loved ones, about wealth. Our Independent Financial Advisers can help you navigate your way though, and get the best from, conversations with friends and family.
More importantly, they will explain the options available to you, as well as those closest to you, in a way that’s jargon-free and understandable. This means you and your loved ones will enjoy greater insight, which in turn, will allow you all to make better financial decisions.
How do I contact an AFH Independent Financial Adviser?
If you would like to discuss talking to loved ones about your wealth, or your financial situation more broadly, please call us on 0333 010 0008. Alternatively, arrange a no obligation initial meeting with one of our independent financial advisers.
5 November 2026