A survey of 250 Welsh adults shows that just under half (48%) feel comfortable talking to their friends about money, with only half (50%) feeling comfortable talking about the topic with members of their family.

The research, which was conducted by the Money and Pensions Service in September 2025, also shows that women across the UK are significantly less likely to feel comfortable when talking about money with their friends (39%) when compared with men (50%). This is despite the common perception that women are more likely to open up to their friends about personal matters.

It was also found that how comfortable we feel talking about money changes as we get older. Those aged 55+ reported feeling significantly less comfortable talking to their friends about money (37%) compared to those aged 18-34 (56%).

Reasons for people feeling uncomfortable talking about money with loved ones included embarrassment, fear of judgement and feeling of failure.

This new research is being released as part of MaPS’s annual campaign, Talk Money Week. Held from 3-7 November, Talk Money Week aims to reduce the stigma around money by encouraging open conversations among everyone, from families and friends to colleagues and communities.

Lee Phillips, Wales Manager at the Money and Pensions Service said: “Money conversations don’t need to be polished or perfect, they just need to happen.

“Taking control of money, talking openly about it and sharing the burden that money worries can cause often helps people feel less stressed or anxious and more in control. It also helps people make better, more informed financial decisions.

“Whether it’s a quick chat about budgeting with a partner, a question for a pensions professional, or introducing the concept of savings to a child, I’d encourage everyone to start the conversation and take that first step.”

Here are 5 simple things to think about when having a conversation with a loved one about money:

1. Manage emotions: It’s normal to feel emotional when talking about money but try to stay calm and focused. If needed, set aside another time to process your feelings so you can think clearly during the conversation.

2. Listen without interrupting: Talking over each other can often lead to arguments. Let each person speak fully. If interruptions happen, gently suggest taking turns so everyone feels heard.

3. Avoid blame or judgement: Start sentences with “I feel” or “I think” instead of “You..” Accusations and negative body language can shut the other person down.

4. Stay on topic: Stick to the money issue at hand. If other concerns come up, save them for another time. This helps keep the conversation productive and focused.

5. Know where to get help: Have contact details ready for charities or support services in case you need outside help to move forward. For example, the free and impartial MoneyHelper service provides a range of guidance and tools to help you manage your money – including the free Budget Planner and Savings Calculator. You can also visit MoneyHelper for guidance on how to talk to a loved one about money.