The elephant in the room!

Picture this: you’re at a family dinner, the aroma of freshly made biryani fills the air, and everyone’s discussing the latest cricket match, the kids’ grades, or even where to go for the next vacation. But when the topic of money comes up—dead silence. A few awkward glances, and suddenly someone changes the subject to how great the food is.

Why is talking about money so uncomfortable, especially with family? In Indian households, discussions about finances can feel as taboo as talking about politics or religion. But here’s the reality—avoiding money conversations can lead to confusion, misunderstandings, and even financial disasters down the line. It’s time we bring money to the dinner table, normalise these talks, and start planning for our financial futures—together.

Why we don’t talk about money?

Many of us grew up in homes where money wasn’t openly discussed. Maybe it was seen as rude, or perhaps it was believed that “children shouldn’t worry about such things.” For some, money conversations might feel confrontational—no one wants to start a family feud over finances, right?

But let’s flip that perspective. What if, instead of viewing money talks as uncomfortable or confrontational, we saw them as opportunities? Opportunities to learn, to grow, and to plan as a family. After all, wouldn’t it be easier if everyone was on the same page?

A story of unspoken finances

Let’s take the example of Rajiv and Ananya, a middle-class couple living in Mumbai. Rajiv is in his late 40s and has been working in the IT sector for over two decades. Ananya, his wife, manages the household and takes care of their two kids. For years, Rajiv handled all the finances, paying the bills, managing investments, and making sure everything was in order. Ananya trusted him completely, but they never really discussed money. Rajiv would say, “Why stress her out with all these details?”

Fast forward a few years, Rajiv unexpectedly suffers a heart attack and is hospitalised for a month. Ananya, who had no idea about the state of their finances, suddenly found herself overwhelmed with medical bills, insurance paperwork, and basic household expenses. She didn’t even know the passwords to their joint accounts.

Thankfully, Rajiv recovered, but this experience was a wake-up call for both of them. They realised that staying silent about money could have led to a financial crisis, on top of the emotional and physical challenges they were already facing. Rajiv and Ananya now sit down together once a month to discuss their savings, investments, and future goals, ensuring that they both feel confident in their financial journey.

Why you should talk about money over dinner (Yes, really!)

1. Build trust and transparency

Just like in Rajiv and Ananya’s case, discussing money builds trust between family members. Whether it’s talking to your spouse about your joint financial goals or teaching your kids about saving and investing, open conversations lead to transparency and prevent financial misunderstandings.

2. Teach financial literacy to the next generation

Money is something that affects every stage of life, but many parents shy away from discussing it with their children. By introducing your kids to simple concepts like budgeting or saving for a goal, you’re equipping them with essential life skills. After all, wouldn’t it be great if they learned about money from you rather than through trial and error?

3. Prevent unpleasant surprises

Life is unpredictable, and no one likes being caught off guard—especially when it comes to money. Talking about finances with aging parents, for example, can help you understand their insurance coverage, savings, or any debts they may have. Similarly, discussing money with your spouse can help ensure you’re both aligned on your financial priorities, whether it’s saving for your kids’ education or planning for retirement.

How to start the conversation?? (Without making it weird)

Starting a money conversation doesn’t have to feel like an interrogation. Here are a few ways to ease into it:

• Start small: Begin by discussing general topics like how the stock market is doing or the rising cost of living. This can lead to deeper conversations about your own financial situation.

• Make it routine: Just like Rajiv and Ananya, consider setting aside a specific time each month to talk about money. It doesn’t have to be formal—maybe a Sunday brunch or a cup of coffee after dinner.

• Focus on the future: Instead of focusing on past mistakes or regrets, discuss future goals. What are you saving for? What are your dreams for retirement? How can you work together to achieve these?

It’s time to break the silence!!

Money is a crucial part of life, and the sooner we start talking about it openly with our families, the better off we’ll all be. Rajiv and Ananya’s story is a perfect example of why these conversations matter. Let’s bring financial discussions out of the shadows and onto the dinner table, where they belong. After all, a little awkwardness now could save a lot of stress later.

So next time you’re enjoying a meal with your family, try asking, “Hey, what’s our plan for the future?” You might be surprised at how liberating it feels to talk about money without any reservations.