Friends keep schtum about money worries
Published On 24 October 2006
It seems money worries have become something of a social taboo, since new research reveals that less than one in four Brits discuss their financial problems with their best friends.First Direct found that just 22 per cent of UK adults feel comfortable talking to friends about their debts, while over half are happy to discuss relationship troubles or health problems.
Encouragingly, 68 per cent of people said they felt happy talking to their spouse or partner about their financial status, but for singletons or divorcees friends may be the only confidents available.
Indeed with new research from Alliance & Leicester showing that divorcees have the highest debt relative to their income than anyone else, talking to friends about money worries could prove a positive move.
Chris Pilling, chief executive of First Direct, explains: "Most people may suffer financial difficulties at some point in their lives, and it's absolutely nothing to be ashamed of. In fact, with us a problem shared can be a problem halved and we want to encourage customers to speak to us before things get out of hand."
Mr Pilling said that where people feel then cannot talk to friends about their money troubles they should speak to a specially trained financial councillor who will help them get their finances back on track.
