How to Talk About Money and the Cost of Living – Talk Money Week 2025

I remember the year my business went under. It was one of the hardest things I have ever faced. The bankruptcy that followed was not just a financial blow, it was emotional, humiliating, and deeply uncomfortable to talk about. I did not want to admit what had happened, even to my family.

When I finally opened up to my now-wife, everything changed. She was patient, understanding, and never made me feel like a failure. Talking about it did not fix everything overnight, but it took away the shame. It gave me space to start again.

That is the power of talking about money. It turns silence and stress into solutions. And that is exactly what Talk Money Week 2025 is about: breaking the silence around money, especially now, when the cost of living is squeezing everyone.

Why Talking About Money Matters More Than Ever

The biggest money conversation in the UK right now is simple: how to afford life.

Food prices have gone through the roof. Energy bills still hurt. Rent and mortgages feel heavier every month. I posted on Instagram recently about how expensive my Tesco shop was, and my inbox filled with messages from people who felt the same. Parents told me they are cutting meals, or dipping into savings and credit cards, just to eat.

That is why talking about money matters. When you talk, you realise you are not alone. You find ideas, support, and sometimes a bit of peace of mind. Silence keeps you stuck.

Research shows that people who talk about money make better financial decisions, have stronger relationships, and feel more in control of their future. Yet around one in five people still avoid money conversations with their family, and a third say debt has caused arguments at home.

How to Start Talking About Money

Money talk does not have to be awkward or serious. You can ease into it. Here is how to begin:

• Pick the right moment. Avoid talking about money when emotions are high. Choose a calm time when everyone is relaxed.

• Use something real to start. A bill, a news story, or an online post can naturally open the door.

• Be curious, not critical. Ask questions instead of making statements. “How do you feel about where our money goes?” invites honesty. “We are spending too much again” shuts things down.

• Talk about feelings as well as figures. Most money stress comes from emotion, not maths. Recognising that keeps the chat grounded.
  

You are starting a conversation, not holding a financial meeting. Keep it light and human.

Talking About Money with Your Partner

Money can easily become the elephant in the room for couples. You might earn different amounts, have different spending habits, or see money in opposite ways. That is normal, but you have to talk about it.

Try this approach:

• Make money a shared goal, not a personal scorecard.

• Talk about both short-term needs and long-term dreams.

• If one partner earns more, balance it with fairness, not guilt.

• Be open about debt, subscriptions, or big purchases. Secrets cost more in the end.
  

If you are struggling or arguing about money, take a step back. Use MoneyHelper’s free Budget Planner to see exactly where your money is going, or contact Debt Free Advice for confidential, one-to-one support.

Talking About Money with Family and Kids

Children often think money appears, or grows on trees! They see you tap your card and assume it is endless. Helping them understand its real value is one of the best lessons you can teach.

Here is how I explain it. I do not look at something as £20 or £100. I ask myself how long it would take me to earn it on my worst day. If it is not worth that tough hour. or hours, I do not buy it. That mindset builds respect for money and stops impulse spending.

Encourage your children to do the same. Let them manage pocket money. Show them how savings grow. Talk about what things cost and how long it takes to earn them. It builds gratitude and awareness.

If you want help getting started, MoneyHelper’s guides have practical ways to teach children about money at every age.

Talking About Money with Friends and Colleagues

This one can feel uncomfortable. Nobody wants to sound tight or boastful. But most people are struggling more than they admit.

Try normalising the chat. Mention how you save on food, or share apps like Too Good To Go and Olio. Talk about cashback deals or loyalty points. When you share practical ideas rather than complain, people open up. Once they do, you both learn from each other.

When You Are Struggling Financially

If money worries are keeping you awake, talk sooner rather than later. Debt builds quickly, but help is available.

You can call DebtFreeAdvice.com for free, one-to-one support, or you can visit MoneyHelper.org.uk for impartial guidance on budgeting, debt, and pensions. There is no judgment or sales pitch, just real help.

You can also check the UK Government’s debt advice page for a full list of trusted organisations like StepChange and Citizens Advice.

Ignoring debt is like ignoring a toothache. It only gets worse the longer you leave it.

The Penny Pincher Challenge: Use What You Have

For Talk Money Week, here is my challenge for you: Try to survive one week without doing a full food shop.

Buy essentials like milk, fruit, and bread, but use everything else you already have at home. The tins at the back of the cupboard, the frozen bits you forgot about, the leftovers you meant to use.

You will waste less, spend less, and get creative with meals. It helps you face your food habits honestly and reconnects you with what you already own.

Keep the Conversation Going

Money talk should not stop after one week. Make it part of everyday life.

• Have a monthly money chat with your partner or family.

• Share savings wins with friends the same way you share a TV recommendation.

• Check your budget often, not just when things feel tight.
  

November is a smart time to talk money. If you can face your finances now, you will head into Christmas with a plan instead of panic.

Confidence with money does not come from being rich. It comes from being honest, learning a bit more each time, and knowing you can ask for help without shame.

The more open you are, the less power money stress has over you.

FAQs: Talking About Money and the Cost of Living

1. What is Talk Money Week 2025? It is a national campaign from 3 to 7 November run by the Money and Pensions Service to get people talking openly about money. Read more on MoneyHelper’s Talk Money Week page.

2. How can I talk about money without feeling embarrassed? Start small. Mention a bill, a saving tip, or something in the news. Keep it natural.

3. How do I start a conversation about money with my partner? Pick a calm time, focus on shared goals, and use “we” instead of “you.” Talk about what you both want, not who is to blame.

4. How can I talk to my kids about money? Use real examples. Let them help with small purchases and explain how long it takes to earn that money. Try MoneyHelper’s family money guides.

5. How do I stop arguments about money? Stick to facts, not feelings. Agree on priorities and review them together. If things get heated, take a break.

6. What if I am scared to talk about debt? That fear is normal. Reach out to DebtFreeAdvice.com or MoneyHelper.org.uk. Both offer free, confidential help.

7. What should I do if I cannot afford my bills right now? Contact your providers. Many have hardship teams that can pause or reduce payments.

8. How can I make my money go further with food prices rising? Use loyalty cards, cashback apps, and markdowns. Plan meals around what you already have in the house.

9. Where can I get free debt advice in the UK? Visit DebtFreeAdvice.com, StepChange, or Citizens Advice. You can also use MoneyHelper’s debt advice locator.

10. How can I keep the money conversation going after Talk Money Week?

Schedule regular chats, read blogs like this one, The Penny Pincher UK, and share what works. Talking about money should be part of normal life.