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Many things often get in the way when it is time to have a money talk. Although money is only currency, how we perceive the value of money is much more complex.

We all have our own money meaning; attitudes and beliefs that play a significant part in any conversation. Your family, the social structure you were raised in, personal issues and the education system you were a part of are all powerful influences in your attitude about money.

Recognizing some of the attitudes and beliefs that you and others have can make your money talk easier. This is particularly important if your values and beliefs are the opposite of the person you are talking with.

Here are 8 money beliefs that prevent the money talk:

Coins on a table depicting the seperate beliefs that people have about money which stop them from talking about money.

1. Money is a private.

In your household, community or culture money was a taboo topic that traditionally was never discussed. Your parents never talked about it, so neither should you.

2. Talking about money may cause shame.

You may put someone in an uncomfortable situation when talking with them about money. They could have financial problems and become embarrassed.

3. Technology is a barrier.

Your tech-challenged elders struggle to comprehend the tech savvy younger generation. You will both get frustrated with the lack of understanding and be unwilling to offer or ask for help with financial matters again.

4. You’re unqualified to teach money skills.

You have made some of your own mistakes. Given your track record, you feel there are many more qualified people to provide help.

5. Talking means admitting financial faults.

You are uncomfortable bringing up the topic because you have made mistakes. Even if sharing your experience could prevent someone from making the same mistakes.

6. You have no idea how to go about communicating money lessons or where to start.

You don’t have a legacy of financial lessons from your parents to pass along. You had to learn on your own, so will they.

7. Let the experts do it.

Your children will learn about money in school – let the experts do the job. There are people who are better qualified than you.

8. It is too late.

Your money habits were not discussed earlier in your relationship so it is too late to bring it up now.

All the above challenges are legitimate. The important thing is to recognize the attitudes and beliefs you have and how they relate to your personal finance actions and goals. The good news is that knowing where you are coming from can make your conversations easier.

We all know at least a little about money. Our experiences, good or bad, are great examples for others if we are willing to share them – so let’s Talk About Money – it Just Makes Cent$.

*courtesy Credit Counselling Canada (CCC)