INDEPENDENT NEWS

NZ would rather talk politics, drugs or alcohol than money

Published: Fri 6 Sep 2019 10:45 AM
New research shows that most New Zealanders would rather talk about drugs, alcohol and politics than money, and many don’t talk about money at all with their family, friends and colleagues.
A survey by the Commission for Financial Capability (CFFC) for its annual Sorted Money Week, running from September 9-15, showed that money topics such as debt, saving and mortgages came a poor second to alcohol, politics and drugs as conversation starters.
Among friends, 35% would rather talk about alchol, 31% about politics and 25% about drugs compared to KiwiSaver (26%), saving (24%) or debt (21%).
Parents would rather cover drugs (26%) and alcohol (27%) than tell their children how much they earned (14%) or talk about the risks of personal loans (12%).
Between partners, planning for retirement was one of the least discussed topics (38%). Even adult children would rather talk to their parents about politics (23%) than planning for retirement (16%).
Out of a list of 10 money topics that also included KiwiSaver, credit cards, budgeting and bills, 31% of parents ticked ‘none of the above’ as topics they discussed with their children. Among friends, 34% said they never discussed those issues, 42% of adult children never discussed money with their parents, and 56% of workers said money was off limits among colleagues. Perhaps suprisingly, 58% of respondents said they did not discuss with their partner how much they earned.
Sorted’s Managing Editor, Tom Hartmann, says the theme of this year’s Money Week, Now We’re Talking, aims to encourage New Zealanders to open up and start those tricky conversations.
“Not talking about money can be a source of stress, anxiety and unnecessary problems for many people,” says Hartmann. “Personal finances are intertwined with our relationships – how we handle money affects those around us, and vice versa.”
When asked why people didn’t like talking about money, the most common answer was that it wasn’t an accepted topic of conversation. Other reasons were fear of judgement, worrying that people might ask for money, partners having different views of money, and wanting to protect children from money worries.
Hartmann says the first step in dealing with money problems is to share them, and talking about money helps us to set goals and plan how to reach them.
“Children start to form their attitudes and habits around money from the age of seven, so the sooner we start to talk to our kids about money the better,” says Hartmann.
For couples, getting on the same page about money can help lift the weight of trying to deal with problems alone, and empower them to plan their future in a constructive way.
Sorted’s website moneyweek.org.nz has tips for how to start money conversations with children, partners, friends and colleagues, plus links to all of Sorted’s guides and tools.

Next in New Zealand politics

On The Ethics (and Some Of The Economics) Of Lifting The Lockdown
By: Gordon Campbell
On Going To Level Four (and Scrapping The Olympics) Right Now
By: Gordon Campbell
Cabinet Approves Business Continuity Package In Response To COVID-19
By: New Zealand Government
Statement From Police Commissioner Mike Bush Following Guilty Pleas In Operation Deans Prosecution
By: New Zealand Police
Record transport investment in Draft GPS 2021
By: New Zealand Government
On The Loss Of Abortion Safe Zones
By: Gordon Campbell
On The Oil Price Smackdown, And On National’s Fatuous Crusade Against Red Tape
By: Gordon Campbell
Predator Free 2050 Strategy - Expert Reaction
By: Science Media Centre
On Buying Ventilators, And Expanding The Testing For Covid-19
By: Gordon Campbell
Advance payments to support contractors
By: New Zealand Government
Auckland Council Welcomes Package To Stimulate Economic Recovery
By: Auckland Council
Infrastructure Sector Sees 30 Percent Less Jobs
By: Infrastructure NZ
COVID-19 And The Fundamentals Of Living On A Timed Borrow
By: Nikko AM
Fixing Wellington’s Infrastructure Deficit Should Be Top Of Government’s To-do List
By: Business Central
Nation Steps Up To COVID-19 Alert Level 2
By: New Zealand Government
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media