We don’t talk about things that make us feel uncomfortable, and many people are very uncomfortable talking about their financial problems. Often, people with such problems will hide all evidence of financial distress.
Some people do this with a misguided sense of protecting their loved ones. If I don’t tell my spouse about the problems my business is having, or our income and expense problems, he or she won’t worry.
Some people won’t even admit their problems to themselves. This becomes particularly apparent dealing with substance abuse, gambling addiction, or compulsive spending.
But the most common reason for not talking about money problems is embarrassment. Debtors hide these problems from their spouses, their children, business partners, and everyone else. To acknowledge the problem is to admit failure. No one wants to be labeled as a loser.
Of course, this failure to discuss is the absolutely worst approach to take. As a lawyer who solves financial problems, I encounter this all the time. I ask my clients if they would want to know if their children, or parents, or even a friend is suffering from financial distress. The answer is always “yes” yet these same people refuse to let their own loved ones help.
Sometimes they feel as though they would be imposing. But they usually would not be, as we all want to help those we care about, and that help need not be a gift. We can often find ways to assure that any help is repaid.
When people do talk about money problems, we can often find creative solutions. Even if the discussion simply generates support for a decision to get help or relief from debt, significant progress has been made.
I am sure there are other money issues people do not wish to talk about, such as the preparation and expense for funerals, but none affects so many people so dramatically as the failure to discuss financial problems.
I have been solving financial problems for over 30 years and do not believe I have ever had a client who could not be helped. We offer creative solutions to all levels of financial problems.