There are three topics of discussion that make most people uncomfortable; Politics, Religion and Money. While the first two are pretty avoidable talking about money can be crucial in your personal and professional life.

Recently, I got into a debate with a friend about why some people found it hard asking for a raise. He brought up the point that money can be a very awkward thing to talk about for some people. Here are a few money discussions that may be difficult, but necessary to have:

1. I Want a Raise

Asking for more money at work can be intimidating for anyone, but being able to negotiate a salary is a strong skill. Before you decide to ask for a raise do some research to figure out what the average salary for your position is. I personally do not think you need to ask coworker for this info as most salaries can be found online.

A website I suggest visiting is where you can look up salaries by occupation and position. Once you have settled on a figure you feel comfortable asking for, also have a figure you will settle for.

Make sure to list out all the ways you add value to your position and all the skills you have contributed. By outlining your strengths as an employee it will be easier to ask for a raise. Coming into a meeting prepared will give you the confidence needed to convince your boss you deserve this promotion.

2. Can I Ask a Favor

Asking to borrow money can be uncomfortable, but if you do not want to pay high interest rates and have more flexible borrowing periods it may be your best option. When asking to borrow money you should set up a financial plan to pay your lender back, including payment dates and schedules.

Depending on your relationship with the individual, they may want to charge interest. When setting up your financial schedule, make sure to include that in the mix.

If you are on the reverse side and have a friend or family member asking to borrow money it is crucial to write up an agreement to avoid future complications. Here are a few things you can include:

  • Size of the loan
  • Interest rate
  • When payments must be made
  • How will the payments be made

3. How Much Do you Make?

Discussing finances with your significant other may not be your topic of choice, but it is necessary. Financial arguments can complicate even the best of relationships.

Don’t avoid these discussions, especially before you are about to take the plunge. Knowing where your partner stands monetarily will help you plan for future financial decisions.

Tell your partner exactly why you want to talk about it, and set up a goal for the conversation. The key element to talking about finances with your significant other is transparency. This is a great article about 10 Tips to Prevent Financial Arguments Between for Couples.

Marina Shifrin is the weekend columnist for, she also is one of the weekly financial journalists. Her columns handle various topics in the realm of relationships and finance. Follow her posts or follow her on twitter @marinaMBT.

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