Talking about finances can be a highly personal and sensitive topic area. Whether it’s about people’s individual financial situations, inheritance planning and expectations, financial decisions or general understanding, it’s something that can cause friction between family and friends.

 

This is particularly true of younger generations. Seven in ten (72%) Gen Zs have had say that speaking about finances has caused some form of friction or argument with loved ones. This compares to 55% of Millennials, 29% of Generation X, and 10% of Baby Boomers who said the same.

The research looked into what areas specifically caused financial arguments with loved ones. :Among Gen Zs,  22% had arguments about money decisions feeling unfair, while another  22% had arguments about which loved one they’ve specifically spoken to about money and wealth. 20% of Gen Z’s said their arguments were about financial understanding, and 18% said arguments have been about inheritance planning and expectations.

Friction caused from talking to loved ones about money:

 

National Average Gen Z (18-27) Millennial Generation or Generation Y (28-43) Generation X

(44-59)

Baby Boomer Generation (60-78)
NET: Yes 42% 72% 55% 29% 10%
Yes, we’ve had arguments about money decisions feeling unfair 12% 22% 15% 8% 4%
Yes, we’ve had arguments about which loved one I’ve specifically spoken to about money and wealth 12% 22% 16% 6% 2%
Yes, we’ve had arguments about financial understanding 14% 20% 20% 8% 3%
Yes, we’ve had arguments about inheritance planning and expectations 11% 18% 15% 8% 2%
Yes, we’ve had arguments about poor financial decisions 13% 17% 20% 9% 3%
No, speaking about finances has not created any friction with loved ones 52% 26% 39% 64% 83%
No, I do not speak to loved ones about finances 6% 2% 5% 7% 7%
NET: No  58%  28%  45%  71%  90%

Some of these conflicts have had considerable consequences among the younger generation. Of those Gen Zs who have experienced friction following a conversation about finances, 34% did not resolve the conflict between them and their loved one. This included 21% admitting they didn’t talk to each other for a set amount of time and 13% revealing they haven’t spoken to each other since they fell out.

There are those, however, who have not had any money-related issues with loved ones: Just under three in ten (28%) Gen Zs have not had any friction caused due to conversations about money and only 2% say they do not speak to loved ones about finances

Lisa Caplan, Director of Charles Stanley Direct Advice and Guidance, comments: “The topic of money is a sensitive one and for a long time thought of as taboo. But the picture is very different now and has become more commonplace in conversation. While everyone may have differing opinions, particularly across generations, it’s important that everyone’s views are respected and are not escalated into wider issues.

“Having open and honest conversation about money can be important to not only build healthy relationships with loved ones, but also help make financial considerations easier to navigate when it comes to things like financial planning or inheritance. Try to see talking about money as an opportunity to learn about money and each other. Avoiding the topic, or even not sorting things out with each other after a fallout, can come at a price – whether that’s leaving individuals estranged from one another or losing out financially when it comes to financial planning. Even if you find yourself struggling to bring up certain money-related issues, a good financial adviser can help in creating a safe space to discuss them with you.”

 

 

 

Methodology 

The research was conducted by Censuswide, among a sample of 3,001 ‘mass affluent’ consumers, aged 18+ (defined as those earning above the UK average pre-tax salary (£33,000) AND with at least £1,000 in accessible cash/savings). The data was collected between 14.02.2025 – 21.02.2025. Censuswide abides by and employs members of the Market Research Society and follows the MRS code of conduct and ESOMAR principles. Censuswide is also a member of the British Polling Council.





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