Why it is important to let someone in on your financial life.

[Etini]

Some people are so secretive when it comes to their financial life to the point that no one knows anything about their finances. While we need to be careful about how we disclose details about our financial lives, I think we should have one confidant with whom we are comfortable telling about our finances.

I lost my dad some years ago. He had so much money in his savings account which was his salary account. Plus his workplace paid an extra 3 months' salary I the account after his death. We couldn't access the funds because nobody knew my dad's atm pin.

We tried and tried and couldn't get it and we have to give up because the bank had given us complicated procedures to claim the money from their end. I think someone trusted in our family should be able to know the details of our financial lives. It can help in emergencies.

 

[Yusra3]

It's important to let someone in on your financial life because they can help you manage your money.

When you have a partner or close friend who knows what you're doing and how much money you have, it helps keep things in check. If you don't tell them about your finances, then it's easy for them to act irresponsibly with the cash that's been entrusted to them.

If this person has a good grasp on the way you budget, then they can help out when it comes time to make big decisions about how much you should save for retirement or how much of your paycheck should go toward bills every month. They might also suggest changes in your spending habits that will help spread out the cost of everything over time.