Breaking the Money Silence

People would rather talk about anything than talk about money. Let's unravel the psychological reasons behind our reluctance to discuss things like spending and debt in the inaugural episode of Cash Fargo Mobile® App.Confessions, a video content series from Wells Fargo. Watch more Cash Confessions in LifeSync® in the Wells.
Transcript:
So I have a
family member who spends money irresponsibly.
How do I talk to them about their spending habits without hurting their feelings?
So I think just talking about money in general.
Everyone acknowledge that this is an uncomfortable conversation to have.
But why?
Why is it so uncomfortable?
I think it's a bit generational.
On top of the fact that it is a taboo topic,
it just compounds and feels like very awkward.
It's normal for it not to be normal to talk about money.
That's right.
That's exactly right.
But also, what does spending irresponsibly really mean to you?
It may mean one thing.
And to this person it may mean another because you may not really understand
their full financial picture.
Trying to open up the dialog to get them to open up.
Exactly.
To help give them some advice that very friendly way.
Right. Okay.
Now, when it comes to a spouse or a partner,
it's a bit different because that could have real implications.
Chances are you're going to have differences
in how you like to spend money and how that feels.
Maybe it's even less about the motive or helping.
Maybe it's more about just being curious.
Right. You know, starting with curiosity, coming from a place of concern,
that's the motive to ultimately help this person
get on the other side of their irresponsible spending.