According to CompareCards.com, 7 in 10 Americans disclose that they have become emotional over money and, millennials are in unique financial stresses that are significantly different to previous generations. Here's why talking about money should no longer be taboo:
People Often Joke About "Being Broke" But Rarely Go In-Depth About Their Financial Struggles
In 2019, the survey claimed nearly 43% of people between 23 to 38 have cried about money within a said month, while Baby Boomers, ages 55 to 73, only experienced this type of distress 20% of the time.
The truth is everyone is trying to figure it out and would benefit from others being transparent about their dealings with money. Being in debt is rendered as a character flaw of irresponsibility and one living beyond their means but in reality, it often is a result of unexpected expenses and circumstances.
Approach Your Debt Practically While Giving Yourself Grace
It's key to remind yourself that you aren't alone and, with that, you've got to face the music and check your balances. Although daunting, making and spending money must be approached from a place of understanding rather than fear, so speaking about money also becomes less of a fearful experience.
Although daunting, making and spending money must be approached from a place of understanding rather than fear, so speaking about money also becomes less of a fearful experience.
No one has a monopoly on money management (see what I did there)?. You are not your credit card debt or financial situation–your money is not tied to your morality. Build support and community with those around you on the internet because chances are they can relate.