Young most likely to talk about their finances as money stigma persists

Young most likely to talk about their finances as money stigma persists

While the taboo around talking about money persists, young workers are the most likely to talk to their bosses about their financial wellbeing, according to a new report.

Research by insurer Aviva published today shows employees aged between 24 and 35 are the most willing to discuss their personal financial worries with their employers, while those aged between 45 and 64 are the least likely.

The social stigma around talking about money, however, continues to affect the majority of Brits, with the research stating almost three-quarters (73 per cent) of workers have never spoken to their boss about their financial concerns.

The report comes as workers’ financial wellbeing comes under mounting pressure, with wages currently being eroded by a 40-year high inflation rate.

Emma Douglas, Aviva’s director of workplace savings, said: “Talking money with an employer appears to be one of the last workplace taboos. Young workers are clearly breaking down the stigma associated with talking to the boss about the M-word, but it is important that all generations of workers feel they can talk about their financial wellbeing.”

The report also revealed a lack of education around pensions, with 17 per cent of those eligible for a workplace pension scheme not knowing what proportion of their salary was paid into their pension.

Read More

Write a comment

Your email address will not be published. All fields are required