The Top 5 Money Matters Discussed at Dinner Tables During the Pandemic

As the pandemic continues to raise health concerns and strain family finances, many Americans are having more serious — and more frequent — talks at the dinner table.

A new survey from nonprofit organization Life Happens  polled more than 2,000 adults about how the coronavirus has affected their financial behavior. It found people are more comfortable talking about money matters now, with only 40% feeling uncomfortable with the topic compared with 45% feeling that way in January.

Nearly 7 in 10 (69%) also say they want to be even more open with their partners about finances. More than two-thirds (67%) say the pandemic has been a financial wake-up call.

Here are the topics we’re talking about most. All of them rank ahead of topics like politics, which was cited by 25% of survey respondents. More than a quarter (27%) of families are having conversations about emergency savings, and 45% are working on building their emergency funds because of the coronavirus, the survey found.

Emergency funds can help provide a safety net for all kinds of situations, from unexpected car repairs to the expenses of a pandemic. More than a quarter of the adults surveyed (29%) are also having discussions about their current financial status, Life Happens reports.

The best way to keep tabs on your financial status is to track your expenses and build and maintain a strong budget.  Three in 10 people (30%) also say they are discussing life insurance in the wake of the pandemic. Life insurance can be a great way to protect your family if something were to happen to you. You’ll want to understand the differences between term (for a specified period) and whole life (permanent) coverage, particularly when it comes to the costs.

Not surprisingly, current health issues are a major topic of conversation, with 32% of respondents saying they raise the subject. Many people are still fearful of visiting hospitals, dentists and doctor’s offices for treatment unrelated to the coronavirus. Telemedicine, the practice of video conferencing between doctors and patients, is one potential way to address those health concerns.

A full third (33%) of households are discussing wills and inheritance during the pandemic, according to the survey results. Taking care of this important planning for your family doesn’t have to be grisly or complicated.