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Opening up about money: The unexpected benefits of personal financial disclosure

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  • Meister, Matt
  • Gladstone, Joe J.
  • Garbinsky, Emily N.

Abstract

Financial anxiety is a pervasive societal problem affecting mental health, physical well-being, and performance at work. This research investigates whether disclosing personal financial information to others can alleviate this anxiety. Through a multi-method approach encompassing longitudinal experiments, large-scale surveys, and natural language processing of online discussions, we provide converging evidence that repeatedly talking about money can significantly reduce financial anxiety. Our findings highlight perceived financial control as a key mechanism driving this effect. Consistent with this process, financial anxiety declines most when people share more controllable aspects of their finances, such as budgeting and spending, and when they share online, where asynchronous editable disclosure increases feelings of control. These findings identify financial disclosure as a low-cost, scalable strategy for enhancing financial well-being.

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  • Meister, Matt & Gladstone, Joe J. & Garbinsky, Emily N., 2025. "Opening up about money: The unexpected benefits of personal financial disclosure," Organizational Behavior and Human Decision Processes, Elsevier, vol. 189(C).
    • Handle: RePEc:eee:jobhdp:v:189:y:2025:i:c:s0749597825000421
    DOI: 10.1016/j.obhdp.2025.104430
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