Skip to content

People 'uneasy about money talk'

Most people in the UK feel uncomfortable talking about their financial circumstances with others, a new survey has revealed.

Fewer than one in 10 (nine per cent) of people say they would feel perfectly comfortable talking about their personal money matters with anyone, according to research by the Money Advice Service.

The reasons people do not like to discuss their spending and saving habits vary from just not feeling comfortable (36 per cent) to not having the confidence to talk authoritatively on the subject (27 per cent).

A total of 83 per cent of those questioned said they would find it shocking if someone they were unfamiliar with was to ask them how much money they earned. They said they would either try to avoid answering the question or tell the person asking that it was none of their business.

Gerard Lemos, chairman of the Money Advice Service, said: "We have a culture in this country at the moment that seriously downplays the life-enhancing potential of routine good money management."

Copyright © Press Association 2011

'WESLEYAN’ is a trading name of the Wesleyan Group of companies.

Wesleyan Assurance Society and Wesleyan Bank Ltd are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Wesleyan Financial Services Ltd, Wesleyan Unit Trust Managers Ltd, Syscap Ltd, Practice Plan Ltd and DPAS Ltd are authorised and regulated by the Financial Conduct Authority. Wesleyan Bank Ltd subscribes to the Lending Code which is monitored and enforced by the Lending Standards Board. Advice about investments, insurance and mortgages is provided by Wesleyan Financial Services Ltd.

Click for more information about the Wesleyan group of companies.

© 2016 Wesleyan Assurance Society