Talk Money Week starts today with the aim of reducing the stigma around talking about money and inspiring people to take one action, however small, to improve their financial wellbeing and share it with others.

The City of Wolverhampton Council is backing the week, which is an annual campaign by the Money and Pensions Service’s (MaPS) and runs until 10 November. The council wants to encourage everyone to have conversations from families and friends to colleagues and communities.
As part of this year’s theme, people are being asked to get involved and ‘do one thing’, which could be something major, like creating an in depth budget or looking closely at a pension, or something minor like talking to a child about pocket money or exploring the MoneyHelper website.
Whatever people choose to do, the important thing is to get people talking to others about what they did and why, in the hope of inspiring them to join in too.
There will be activity across the country to get more people talking about money and engaging with topics like using credit, saving regularly, planning for retirement, dealing with debt and teaching children about financial decisions. 

Last year, Talk Money Week was supported by hundreds of organisations, including major banks, various government departments, NHS Trusts across the UK and charities like Citizens Advice and Money and Mental Health, with even more expected this time around. 

Councillor Stephen Simkins, Leader of City of Wolverhampton Council said:

‘It can be difficult to talk about money, it’s something we can all shy away from and although there’s much talk at the moment about the cost of living crisis, it’s still hard for people to admit openly they’re struggling.

‘But taking control of money, talking openly about it and sharing the burden   often has a huge positive impact on health and relationships. It also helps someone to make better, more informed decisions. 

‘If we all start talking more openly about money, it will not only help remove the stigma, but also give a great example to our children, helping them to manage their finances well throughout their lives. Please get involved this week and look at one thing you can do and don’t forget to talk about it.’

Caroline Siarkiewicz, Chief Executive at the Money and Pensions Service said:
‘Talk Money Week has grown every single year and we want to build on that success, so it’s time to talk specifics. This is why we’re asking and inspiring people to ‘do one thing’ and take another step towards improving their financial wellbeing, telling others about it as they go. 

‘Whether it’s something small, like starting a conversation, or something major, like making an informed long term decision, this is a chance for everyone to get involved and reap the benefits. 

‘We have the ideas and information you’ll need on our website, along with the tools to help you get started, so I’d urge everyone to think about what works for them. By working together, we can help everyone make the most of their money and pensions.’