Discussing financial matters is essential for your well-being and that of your loved ones.

Talking about money can be awkward in certain situations. However, if you act on it effectively, you can feel empowered and satisfied instead of just relying on chance. 

 We share 3 situations and offer some tips on how you can handle them:

1. When you want a raise at work

There are many ways to address the topic. Although nothing guarantees achieving it, it should always be done respectfully, and in accordance with your workplace’s norms. First, we recommend talking to your immediate supervisor and/or your human resources representative to find out if there is already a process.

How to prepare

  • Consider your justifications. Everyone wants fair pay for their work, so you should go with the right mindset to request it. What have been your contributions to the company? Have you created efficiencies? Are you the best in sales and services? Are they offering you more tasks and responsibilities? Do you demonstrate successful or outstanding performance in your position?
  • Research properly. Know your industry, look for information on the salary range of similar positions in other companies, or consult with recruiters to learn more about the market. This will allow you to have a number in mind. However, don't tie yourself to a figure; each business may have its reality. 
  • Gather information about your performance. Awards or recognitions you have received, emails with good news, successful projects, and favorable data. These will be relevant when having the conversation.
  • Plan. Like you, a company can have ups-and-downs. When requesting an increase, consider whether the company is economically stable and in a good position.
  • Choose the right time. Pay attention to your boss's mood when making the approach. Don't wait until the annual performance review process to ask for a raise. Instead, ask for it after finishing a successful project. Be confident and express your desire to collaborate and contribute.
  • React properly. If your boss doesn't give you hope, relax. It’s ok; resume the topic later on.  Stay cool and try to talk about your next work challenge. 

2. When we go out with friends 

We've all been there: a friend wants to try a new restaurant or invites us to a concert 'in front row', but your wallet doesn't stretch, and you have to say 'no'.

You don't always have to explain in detail, but it's worth being vocal and practicing loud budgeting. It’s a way to address the topic of money and talk about budgeting properly. The more you talk, the more you normalize it.

Now, if it stresses you out that the whole gang finds out that your budget is tight, you don’t have to announce it to everyone.

Talk to your closest friend, the one you know will understand and support you. They may come up with a more budget-friendly outing, or a good Samaritan will show up!

If not, don't worry. Better opportunities will come!

Popular x Platea: Find out how to practice loud budgeting with our reel.

3. When you live with someone 

When sharing a space, whether with a partner, a relative, or a roommate, try to normalize the money conversation in a way that works for everyone.

Maintain a good rhythm of communication

Establish monthly or random check-ins on the contributions made for utility payments, purchases, or home repairs.

You can take advantage of this and clarify any doubts about the rent payment and the contributions to other housing expenses.

Popular x Platea: Navigate your relationship and your wallet with these 3 tips.

Love and money

Need to know how to tell your partner that you need help with the water bill? Just like with family and friends, setting the expectation of contributions is key. 

Take advantage of the trust you have with your partner and talk about how to split the monthly bills according to each income.

Popular x Platea: See the list of expenses that can be split as a couple here.

When making the list, remember to consider your personal goals as these can affect the economic contribution that each one can make if you live together. 

For example, if your partner is saving 10% of their monthly salary to buy a car, consider another contribution they can make, such as running errands or household duties.

Speak up without fear

The more you talk about money, the easier it will be for you. It's all a matter of practice.

Whoever wants the best for you will also help you keep your finances healthy. For more tips on financial education, visit www.popular.com/en/future-me/