Talking about money is the last great taboo

By Mark Scicluna – Technical Advisor, MFSA

Handling personal finances can often feel overwhelming or intimidating, and for many people, the topic itself feels off-limits. Unfortunately, many people lack confidence when asking money-related questions, feel unsure about whom to approach for guidance, or hesitate to speak openly about their financial struggles. These challenges are not unique to Malta. They are widespread and affect individuals of all ages and backgrounds.

From 16 to 22 March 2026, 176 countries and territories worldwide united to celebrate Global Money Week (GMW), an international awareness campaign dedicated to help people become more financially aware and better equipped to build healthy financial habits. This global initiative is coordinated by the Organisation for Economic Co-operation and Development (OECD). This year marked the 14th edition of this global movement, which has already reached over 70 million children and youths worldwide since its inception.

This year’s theme, “Smart Money Talks”, encourages people of all ages to engage in open, honest conversations about money. It aims to reduce the stigma surrounding personal finance by promoting curiosity, empowering individuals to ask questions, and normalising discussions about everyday financial challenges. Talking openly about finance helps build confidence, reduce anxiety, and lay a stronger foundation for better decision-making. Curiosity encourages learning, and financial education provides the tools needed to avoid common pitfalls and develop long-term financial resilience. Thoughtful conversations about money, held in the right spaces and with the right people, can further strengthen your financial wellbeing and inspire those around you to learn, reflect, and make better financial choices.

Young people in particular face a broad range of decisions, such as, how to allocate their first income, how to safely navigate digital financial tools, how to spot and avoid scams, and how to begin understanding the world of investments.

Have you fallen victim to a scam? Are you struggling to make ends meet? Unsure where to begin with investing? Whatever your answer, you are not alone. Negative financial experiences are far more common than many people realise.

“Smart Money Talks” promotes speaking up and asking questions, but it also reminds us that not all financial conversations are the same:

-       General questions, such understanding financial concepts, learning about budgeting, or discussing the importance of comparing financial products before signing on the dotted line, are healthy topics to explore with family, friends, colleagues, or within your community.

-       Personal financial details, however, such as how to manage your debts, income, account information, or investment plans, should be shared only with trusted, qualified, and reputable sources.

This distinction is important. While family and friends often mean well, they may not always be equipped to provide accurate or appropriate financial guidance. Likewise, social media personalities who present themselves as financial experts (often called FinFluencers) may appear knowledgeable and confident, but their content may expose you to unnecessary risks, misinformation, or subject you to costly mistakes. Protecting your personal financial information is essential; share sensitive details only with trusted and qualified professionals who are authorised to assist you. If you are unsure whether an entity or individual is licensed, consult the Financial Services Register maintained by the Malta Financial Services Authority at www.mfsa.mt.

This annual celebration of Global Money Week serves as an important reminder that:

-       Open financial conversations build confidence and reduce stress.

-       Financial education empowers individuals to make informed decisions.

-       Digital finance literacy is essential in a world of increasing online risks.

-       Healthy money habits begin early and last a lifetime.

“Smart Money Talks” encourages everyone to take a proactive role in shaping their financial future. Speak up! Ask the right questions! Stay curious!

And when the conversation shifts from general learning to personal financial decisions, seek guidance from those who are qualified to support you, and don’t hesitate to ask again! Together, we can build a society that treats financial literacy not as a taboo, but as a shared responsibility and a lifelong skill.