How do you talk to your family about money? Share with GuardianCard - £200 voucher to be won

I have no children but I am wary over talking about money to family because some in my family are downright greedy, materialistic and money grabbing. If I did have alot of money it would go to my great-nephew who has always treated me well

only tell them when they ask.

I let my son manage his own pocket money - if he wants to blow it on sweets he can, but I advise him to save up for something that he really wants. I also make it clear that it's important to work to earn money to pay for bills and to buy what you want.

I find talking about money with my family I still haven't got round to discussing it yet. Hopefully this thread will give me some tips

As an only child, my daughter knows that she will eventually inherit any money. I have told her that when I sell my house and move to somewhere smaller, I intend to spend my money on me, as I have spent all my life putting others first. That doesn’t mean that I won’t still help her and her husband out if they need money, but it’s in the form of a loan, to be repaid, which they are happy with. I give my grandchildren of 2 and 5 £1 each pocket money, which they save until they have enough to buy what they want. I prefer to have a small amount of saved money, which they are unaware of.

Our family have always talked about our finances. Myself, DH, DD and SIL, DS and DIL all speak about finances quite openly. My DD and DS know all our passwords and we know theirs. In fact we made a point of telling them to make things easier for them when the time comes. They've even got a copy of our wills. My DF who is 96 never talks about money. Maybe a generation thing.

My adult children are both savers rather than spenders. Good job as both have seen their incomes plummet over the last year and would have been in serious difficulty without their rainy day savings. We often discuss finances.

We are very open about talking to our family about money. We try to encourage budgeting and saving for things rather than get now pay later. If you really want something it is worth working towards it and then appreciating.
We have discussed everything from managing a budget to long term investments.

I find the subject of money quite difficult as my grown up son is hopeless with it, and my grown up daughter is really careful. So I have to tailor my advice to suit each case. I don't think young people are prepared to save and wait for things today, like we did, so sometimes I think it is hard to give advice as it doesn't fit with what they feel is 'normal'.

I have set up a power of attorney and discussed it in detail with my son and daughter in law, who would be the attorneys.

I take care of my own finances at present, but have had the delicate conversation with my eldest son about where to find all the relevant information to my will, investments and bank accounts for when the time arises.

We've discussed money with our children since they were teenagers. We tried to impress upon them how to be careful with money, not sure we've been entirely successful.

I have made a will, I'm still working, and have nominated my 2 sons to have my pension 50/50, and let them know my wishes for a funeral.

I'm quite open about money with close family, although not always going into fine detail.
We were all brought up to be responsible and to know that our debts were our responsibility, that saving for something expensive was usually better than using credit and that it wasa wise to think about the future

When looking to guide my children I focus on the value of making long term investments/payments, the potential for committing to small monthly contributions by giving up spending on something that might not really be needed now for something more valuable in the future.

We're open about money amongst ourselves but don't talk about it between the generations. Mainly because they refuse to discuss anything.

I've always tried to talk to my children about money, and the value of it, and I think they've learned how to be very sensible with money. I'm very proud of them for that.

My Mum has just entered a care home as her dementia has progressed to a stage where she cannot live with my sister anymore.

My siblings and I have just had to have the money talk and it was awkward.

Two of my sisters have POA over my mother’s money and another sibling and I hold the health POA.

My mum made her wishes clear so three of us don’t have a problem following her very clear directives. It is only one sibling who fights everything.

My feelings are to be clear to the point of bluntness with your family so there is no doubt about how you want finances handled. And, as a POA, respect the person’s wishes. Anything else is offensive.

Get them together, tell them you have given it some thought and start with "So this is what we have decided to do"..... then run!

We've always been very open about money even now our children are adults with salaries and mortgages of their own. We always advised never buy what you can't afford. Neither daughter is in debt other than a mortgage and in time, I'm confident that'll prove wise. We also encouraged them to put into a pension scheme from day 1.

We are quiet open about money and just talk to ech other normally and out in the open