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After The Holidays, Financial and Money Conversations Can Be Tough Especially With Family
Pennygem
Follow
1/7/2025
Here’s a few strategies to help you get through those tough money conversations. PennyGem’s Natasha Abellard has the story.
Category
📚
Learning
Transcript
Display full video transcript
00:00
At some point, we'll all have to have a conversation where we are asking for more money.
00:08
And whether or not it's with your parents, discussing debt with your significant other,
00:12
or with an employer for a better salary, it can get awkward.
00:15
However, a few tips from NerdWallet could make the conversations go smoother.
00:20
A 2018 survey from Merrill Lynch found that 70% of adults aged 18-34 get some kind of
00:26
financial help from their parents.
00:28
So while there's no shame in asking for help, when approaching mom and dad, you should
00:32
start with being specific about what you need help for.
00:35
Also, admit your own mistakes instead of blaming anyone.
00:38
And make sure you have a plan in place to show your parents how you are moving toward
00:42
financial independence.
00:43
If you're discussing debt with your partner, make sure you both set a time aside to have
00:47
an honest and transparent conversation.
00:50
When it comes to your salary, this conversation might seem hard but could potentially pay
00:55
off.
00:56
I would suggest that you do some research to find out the appropriate range for your
00:59
salary.
01:00
Afterwards, wait for the best time to have the conversation, avoid throwing out your
01:04
number first, and consider negotiating your benefits if your salary can't be changed.
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