We struggle with talking about money in the UK and rarely speak about it as a family – it’s just not very British, is it? However, I strongly believe that if you, and your family, start to change this habit it will not only make your family more secure and cohesive but significantly wealthier too.
Why don’t we talk about money?
Interestingly, historians believe that the British taboo associated with talking about money stems from the early twentieth century when property ownership in the UK was rather scarce. Wealth didn’t need to be advertised as owning property was an overt symbol of wealth and status.
This contrasted heavily with the United States where, due to the huge landmass, owning property was far more accessible. As such, wealth wasn’t so heavily equated with property and, instead, had to be more actively signposted. This was reflected in my own personal life when I attended a family BBQ in North America and quickly discovered everyone’s salary in a very open forum. This approach was probably a little too much for me to handle but it was amazingly refreshing how close friends and family talked about making money, how to manage it and how to teach their children to value it. It was certainly an attitude that could be learnt from.
