Press Release

For immediate release

Information verified correct on December 11th, 2016

Talking about money off limits for Aussies (but sex and politics OK)

  • 42 percent of Australians surveyed by finder.com.au agree money talk is taboo
  • Generation Y most comfortable with discussing money matters
  • Top 3 reasons to talk about money with friends and family

February 17, 2016, Sydney, Australia – Australians are more comfortable talking about sex and politics than they are about money, according a new survey by one of Australia’s biggest comparison websites finder.com.au.

Money is a topic off limits for nearly half of the population, the research showed.

The finder.com.au survey found 42 percent of those surveyed find personal finances the most difficult thing to talk about, even more than religion (40 percent), sex (38 percent) and politics (23 percent).

Bessie Hassan, Consumer Advocate at finder.com.au, says Aussies will talk about their sex lives before they discuss their personal finances.

“Still in 2016 very few of us feel comfortable openly discussing finances,” she says.

“Despite living in the social media age where people are criticised for sharing far too much information online, divulging money matters makes us wildly uncomfortable.”

Just 18 percent of Australians regularly discuss money.

“Considering there’s a lot of lessons to be learned from hearing about other people’s financial experiences, that’s a lot of missed opportunities,” says Ms Hassan.

Baby Boomers (aged 55-74) are the least comfortable generation when it comes totaling about money, with 56 percent never discussing it.

“Many in that generation were raised to believe that talking about money is rude or impolite and those are hard attitudes to shake,” says Ms Hassan.

Australian Talking Topics

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Generation Y (aged 18-34) are the most likely to talk about money – with one in three (33 percent) often discussing personal finances.

“We all need to be careful about what information we share – obviously keep specifics like account numbers or passwords private. But sharing ideas on how to save money or managing finances can make a big difference in people’s lives,” she says.

Top 3 reasons to talk about money

  • Gain knowledge: Talking to someone who has more financial knowledge than you is a great way to learn new personal finance concepts.
  • Take action: Having a conversation with a friend can prompt the listener to take action on financial matters like looking for a cheaper home loan rate or drinking one less coffee a day to boost savings.Take act
  • Learn from their mistakes: Chances are that someone you know has learnt the hard way about a financial matter you are contemplating. By finding out what they would do differently, you then have a head start

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For further information

Disclaimer

The information in this release is accurate as of the date published, but rates, fees and other product features may have changed. Please see updated product information on finder.com.au's review pages for the current correct values.

About finder.com.au:

finder.com.au is one of Australia’s biggest comparison websites and has helped over 4.8 million Australians find better credit cards, home loans, life insurance, shopping deals and more since 2006. finder.com.au compares 250 credit and debit cards from 31 providers, over 300 home loan products, and information from 13 life insurance providers as well as online shopping promo codes, mobile phone plans, travel insurance and more. One Australian every five minutes is using finder.com.au or creditcardfinder.com.au to find better (Source: Google Analytics).

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