Published on 26/06/2020 1:09:22 PM | Source: IANS

It`s time to have the `money` talk with your family

Posted in Top Stories| #Wealth #COVID-19

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We are not usually comfortable talking about money with friends, family, or even with our spouses. But it's time we changed that. These discussions need to be had, now more than ever.

As a family, you work towards goals that further not just yourself but the family as a whole and how you manage household finances is an important aspect of that. Therefore, it is imperative to talk about money and align financial goals to ensure each family member is on the same page.

The impact of Covid-19 on all our lives has certainly made us realise that. It invariably has a medium-to-long-term impact on everything - right from familial dynamics to how we save, manage and spend money. Thus, overcoming the reluctance to discuss money matters is a step in the right direction for creating a positive perception about it and space for everyone to share their thoughts, fears and ease the burden.

Here's a practical step-by-step approach shared by Prateek Mehta, co-founder, Scripbox, to follow to have these discussions with family.