I’ve always been an open book. Whether I’m angry, happy, excited or sad, my face will tell you before my mouth does. I’m not shy about discussing my mental health at work, and everyone I meet will know about the bad date I went on last week – and what happened afterwards.
My transparent philosophy extends to talking about money too. We’ve been taught that discussing our finances is vulgar, but I’m a firm believer that we need to stop worrying about politeness when, as women, we’re facing a gender pay gap of 8.6% (according to the Office of National Statistics) and a gender savings gap.
Women have saved just half the pension pot of men by the age of 50 (according to the Aegon UK Readiness Report). While this is in part due to career breaks and the necessity of part-time working, it can't help that women aren’t having conversations about cash.
It’s said that talking about money is in bad taste, but in my opinion, it’s vital. I’m more than happy to share what I earn and totally comfortable asking my colleagues what bracket their wage falls into. After all, how do l know if I’m being paid fairly if I don’t know what my contemporaries are taking home?
You don’t have to be rude about things – ask politely, explain it would be helpful for you to know and always respect when a person doesn’t want to share – but being frank about finance can only lead to a more even playing field in the end.
It’s not all about salaries, either. How often do we chat ISAs and investments over G&Ts, or spend our weekends advising each other on deposits and the stock market? 24% of men have both savings and investments while only 16% of women tick both boxes, according to Aviva.
Over the past year, I’ve made it a point to talk to my friends about their interest rates, ISAs and Help To Buy schemes. I now know what percentage my housemate’s employer will match on her pension and exactly how much my friend spent when buying a house, as well as how she saved for it.
As a result, we’re all in better financial stead, having spurred each on to switch current accounts to ones with better interest rates, up our pension contributions and even get interested in investing.
Nobody is born knowing about stocks and shares, so it makes no sense to stay silent when we could learn together.
After all, it’s just money. If I can’t talk about the thing that keeps clothes on my back and a roof over my head, what can I talk about?
Aviva is urging women to take control of their finances this year. Pledge to change one thing to improve your finances in 2019
Isabella is a freelance journalist who has written on young women's issues, entertainment, TV and film, South Asian representation, mental health, dating and so much more. She has bylines in ELLE, Cosmopolitan, Good Housekeeping, Prima, Digital Spy, Women's Health, and Harper's Bazaar, and was named 30 Under 30 by MediaWeek, PPA and We Are The City. She was also shortlisted for Workplace Hero at the Investing In Ethnicity Awards and Hero of the Year at the European Diversity Awards. Follow Isabella on Instagram, Twitter and LinkedIn.
