Money is a huge part of our lives and yet we are reluctant to talk about it. Of course, it is often the subject of arguments and the cause of anxiety when it is in short supply, but that is not the same as having an objective, forward-looking conversation about money. Our desires are unlimited whereas the supply of money is not, so to get the most enjoyment out of life we need to make the best use of our money. Money is neither derived nor spent in isolation. There are other stakeholders involved, such as life partners, children, parents, employers, business partners, banks and professional advisers. They all have a role to play in helping us get the maximum benefit from the money we have.

Within a relationship, it is a good idea to schedule time to talk about financial matters on a regular basis. The link between shared goals and the soundness of a relationship is indisputable. No matter what the age of your children, start talking to them about money at an appropriate level to help improve their financial literacy. Aging parents need help with making sensible investments, ensuring they have sufficient funds to last through their retirement and making plans for the transition of wealth to the next generation.

Reluctance to talk about money with employers or business partners can impact on present and future income. If you are an employee, make sure you are being remunerated at market rates. Maintaining a close relationship with banks and professional advisers can only be of benefit. They have expert knowledge which can help you structure your borrowing in the best way, manage your money more effectively, and provide advice on financial products. It is time to let go of inhibitions and secrecy and talk more about money.