How honestly should we talk about salaries? Tips for discussing money with others

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The data also revealed how confident Americans are in their financial literacy, and identify the group Americans think should be responsible for teaching people about money.No matter who you’re talking to, discussing money can be uncomfortable—but many people are up to the challenge anyway. The survey found that most people are open to talking about money, regardless of their age.

If you’ve been avoiding discussions about your finances but are ready to give it a try, follow these tips to feel more comfortable and better equipped when talking about money.While oversharing about your personal or financial information is never recommended, those who have healthy financial discussions with others are better for it.

For those who aren’t willing to discuss their finances with others, even if someone else initiates the conversation, Baby Boomers (57%) and Generation X (45%) cited “money is personal” as their top reason, and 48% of Millennials cited “insecurity about their finances” as theirs.Financial openness in the workplace could contribute to a more transparent work environment, but different generations have varying opinions about whether this would be beneficial or not.

While Millennials led the charge as the generation most willing to talk about salary with co-workers, they were also more likely to lie to co-workers (52%) and friends (50%) about their salaries than any other generation. On the other side of the spectrum, Baby Boomers were least likely to bend the truth when disclosing their pay to their friends (25%) and co-workers (28%).

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