A new study has revealed that the majority of Britons are reluctant to talk about their personal finances with just 14 per cent willing to admit their level of personal debt. The least discussed areas of debt were found to be the amounts borrowed through loans and credit cards. However, whilst debt is considered a taboo subject, 29% are happy to talk about their mortgage deal with 26% happy to discuss the value of their property.

The report hi-lighted the differences between the different age groups and their willingness to talk about their financial matters. The majority of over 50s indicated they would only discuss financial matters where strictly necessary. Around 50% of those questioned believed such matters should remain private with 9% admitting they would be embarrassed to discuss their finances.

Among those who were happy to discuss their finances, 90% said they would most likely talk about money issues with their partners with the younger generation discussing matters with their friends.

The under fifties also said they would seek financial advice from their parents with the over fifties more likely to seek professional advice.

Back to Main News Page

Article referenced from http://www.onlyfinance.com/Debt-News/12752655-debt-consolidation-agency.aspx