Tough Talk

A report finds most people are uncomfortable discussing credit card debt

According to a new report, few things in life make people more uncomfortable than discussing credit card debt. In fact, as crazy as it sounds, people would rather talk about their weight than their account’s balance.

CNBC reports the survey of 1,000 American adults found that 47 percent of people feel uncomfortable discussing credit card debt with any other person, while 30 percent felt uncomfortable discussing it with loved ones. Avoiding debt conversations was of vital importance for most people. In fact, they’d rather talk about just about any other “taboo” subject. The survey found that only 19 percent of people are uncomfortable discussing their weight, 14 percent are uncomfortable discussing politics and 12 percent are uncomfortable talking about their physical health and religion. The one topic people felt more uncomfortable discussing than credit card debt was their love lives (48 percent).
The silver lining from the report is that we seem to be getting less tongue tied by the generation. While 47 percent of Baby Boomers said they could talk credit card debt, 61 percent of millennials reported feeling the same way. While it might be tough to talk credit card debt, it can be beneficial. For one, discussing it with people who care will take some of the shame away. You’ll see that you’re not a bad person because you have debt. You might even gain insight into additional strategies that friends are using to dig their own ways out. Once the cloud of shame is lifted, you’ll be able to see more clearly, and begin to dig yourself out of the hole. Discussing your debt with a professional could help too. You can’t get out of debt without a plan, so talking with a financial advisor or credit counselor can crystalize your strategy.

Chris O'Shea

Chris O'Shea