Money has topped the ‘do-not-discuss’ list for decades—right alongside religion, sex and politics. But it’s 2021, and transparency is trending.
This growing openness is being driven by the link between money and mental health. The silence around money isn’t making us well, according to reports. In fact, it’s making us sick – financial stress affects physical health, blood pressure, respiratory symptoms and more. It’s about time money is put under the microscope.
In 2021 and beyond, this trend predicts that we’ll begin to see the end of financial systems designed to profit from our failure and witness the start of financial wellness, which explores our relationship with money and unearths the deeper issues that are negatively affecting that relationship. This growing financial wellness movement is moving money talk far beyond the bank, shifting the conversation from the what to the why; from the purely pragmatic to the psychological.
Financial therapists are tackling the intersection between money and mental health, and the three billion views of #personalfinance content on TikTok prove that finance influencers are officially a thing.
The money conversation is heating up, and it’s being brought to the fore by those who have typically been excluded from dialogue altogether. We all engage with money daily, yet our experience with it vastly differs based on factors like race, socio-economic status, age, personal values and even sexual orientation. And though the majority of 2020 headlines felt hopeless, the year did bring promising signs of greater financial inclusivity.
Money talks. It’s time we start using a language everyone can understand.