Why Some People Talk About Their Investments & Savings Openly While Others Don't

Have you ever met someone who cannot go through a conversation without mentioning the land they bought or the money they have saved in a Sacco?

Yet, some people may have substantial savings and investments but will rarely discuss them, even with close friends.

While both groups may be working towards financial security, their willingness to talk about their progress can be influenced by different psychological factors.

Also Read: Why Some People Choose Land Over Other Investments That May Offer Better Returns

Why Some People Love Talking About Their Investments

One explanation is impression management, the psychological process through which people try to influence how others perceive them.

For some people, discussing investments is a way of presenting themselves as financially disciplined, successful or knowledgeable about money.

For instance, someone who recently bought a plot may mention the purchase during conversations with colleagues or friends. Beyond sharing the news, they may also enjoy being seen as someone who is making progress in life.

This does not necessarily mean they are showing off. They may simply be proud of an achievement that required years of saving and sacrifice.

Another factor is the need for recognition. Reaching a savings target, buying shares for the first time or completing a property purchase can be a significant personal milestone. Sharing the achievement allows someone to receive congratulations and encouragement from people around them.

Social comparison can also influence the desire to discuss investments. People often assess their progress by comparing themselves with others. Talking about investment returns, savings balances, or property purchases can help someone establish where they stand relative to their peers.

However, investment conversations are not always about recognition or competition. Some people share their experiences because they want to exchange ideas, learn from others or encourage friends to start investing.

Also Read: Why Friends and Relatives Treat Financially Successful People Differently

Why Others Prefer to Keep Their Investments Private

For people who rarely discuss their financial progress, privacy orientation may explain their behaviour.

They may believe that their income, savings and investments are personal matters that do not need to be disclosed to friends, colleagues or relatives.

Such people can be comfortable discussing investment opportunities without revealing how much they have accumulated. For them, sharing knowledge does not require sharing personal financial details.

Another possible explanation is the desire to avoid financial obligations.

In Kenya, news that someone has bought land, built a house or accumulated substantial savings can sometimes attract requests for loans, financial assistance or contributions to family projects and harambees.

Someone who anticipates these expectations may choose to keep their financial progress private to avoid uncomfortable conversations or pressure to share money they had set aside for other goals.

Others may simply want to avoid comparisons and unsolicited opinions about their financial decisions. Keeping quiet can therefore provide a sense of control over who knows about their finances.

Ultimately, the decision to discuss investments or keep them private depends on individual motivations, experiences and circumstances.

The important thing is to ensure that financial decisions are guided by personal goals rather than the desire to impress others or the fear of being judged.