Talk Money Week is an annual campaign run by the Money and Pensions Service (MaPS), which took place from 4 - 8 November.

The week encourages people up and down the country to have more open money conversations.

Money is something that should be talked about all year round, however, not just for one week in November.

Being an advocate for people in the South-West to talk more about money, Paul Fox, regional manager for the area at MaPS, shares four ways to improve your financial wellbeing.

Be open about your budget

New research from MaPS found that UK adults are more comfortable talking to their friends about sex and politics than they are talking about money problems.

Having conversations about money can seem awkward, but it’s important to be vocal about money goals and feel comfortable in openly saying "no" to unnecessary expenses – this is called loud budgeting.

Examples of loud budgeting include: being open about why you’re on a budget; setting an agreement with friends and family about gifts; being honest about what you can spend; finding budget-friendly alternatives; and sharing tools for how you budget with friends and family, such as the free MoneyHelper Budget Planner.

Check your pension

There are benefits to talking about money; those who do make better financial decisions, have stronger personal relationships, and feel less stressed.

However, just under 1 in 5 people in the South-West discuss their pensions with friends and family, and just over a quarter have checked their pensions in the last 12 months.

Without knowing how much is in your pension, you can't plan for your future and your retirement.

Whether you read your annual statement, log in to an online platform, or contact your pension provider, there are many ways to check your pension.

Once you know how much you have, you can then use MoneyHelper's pension calculator to understand what your pension means for your future.

Reach out for help if you need it

MaPS research from earlier this year found that half a million people in the South-West would benefit from debt advice and another million more were living on the edge.

Too many people don't seek debt advice for several reasons - they think it's not right for them, they think they'll be judged, or they find it too overwhelming.

When you contact a debt adviser you can expect a supportive, non-judgemental environment where you’ll be offered practical expert advice and options to help you move forward.

If you need help, reach out, you’re not alone – use MoneyHelper's free debt advice locator tool to find free debt advice near you.

Talk to children about money

To continue increasing financial wellbeing within your family and community, talk to children about money.

MaPS research shows that children begin developing money habits between the ages of three and seven, so it’s never too early to start.

Financial education works; children who do receive a financial education are more likely to be active savers and more confident main making money.

Visit MoneyHelper for free guides on how to have these conversations as well as activities to support children’s learning in an age-appropriate way.