Approaching finance conversations at university
Money can be a daunting topic to chat about - here’s a handy collection of tips on how to approach it.
Money has always been a taboo topic in British culture: we all deal with money daily and are aware of our individual financial situations, but discussing it in conversation can often be uncomfortable. These handy tips will help you approach discussing budgeting and finance whilst at university.
1) Speak to people you trust in a comfortable environment
You want to ensure that the person you’re speaking with about money is trustworthy and will have your best interests in mind when giving financial advice or recommendations. Try to talk with your family or close friend group first.
2) Bring the topic naturally
It may be easier to reference a related money topic in the news or media to get the ball rolling if you’re talking with family or friends. For example, saying “have you heard the news about maintenance loans?” may make a conversation about how challenging you’re finding affording student living come out easier than starting the conversation with “I’m really struggling with my bills at the moment”.
3) Keep the conversation respectful
Be calm and honest throughout the conversation. Ensure that your conversation partner has the space to talk and show respect. Keep the conversation a judgment-free zone in order to keep everyone comfortable.
4) Be understanding of people’s different financial situations when proposing activities
When proposing group activities or socials, be accommodating and understanding of your peers’ personal budgets and finances. If you can, keep costs as low as possible. Be transparent with costs before proposing activities so that your group can make informed decisions about whether they can participate and do not pressure anyone into participating in activities that they cannot afford. Try to arrange other group activities that have lower costs in order to avoid excluding members of the group who are unable to afford expensive group activities like balls or tours.
5) Know where to turn to if you need more support
If you’re unable to have safe and comfortable conversations about money, speak to the Student Funding Support team. They can help with anything from everyday budgeting concerns to emergency funding support. You can pop in to Senate House for an in-person chat between the hours of 10am- 3pm Monday-Friday. If you’re unable to come to an in-person chat, their phone line is available from 8:30am-5pm Monday-Thursday and 8:30am- 4pm Friday and their email is studentfunding@warwick.ac.uk. WellbeingLink opens in a new window is also available to talk to about wellbeing worries related to money.
