Money problems are the last social taboo

A total of 22 per cent of adults feel comfortable discussing their money or debt concerns with their best friends, according to new research.

According to an investigation by online bank first direct, half of the Welsh population is unhappy talking about financial worries with their partners.

The bank has stated that “money problems are the last social taboo among friends and family in the UK”, as less than one in four Brits will talk about their finances, while more than half are happy to talk about their health or career.

It was also found that those who have run into problems with loans or debt in the north of England are least at ease discussing their worries, but people in London are most comfortable to talk about money concerns.

Chris Pilling, chief executive of first direct, said that the bank has around 180 financial councillors who can help customers with any problems.

“We make a point of understanding that most people may suffer financial difficulties at some point in their lives and it’s absolutely nothing to be ashamed of.”

“We want to encourage customers to speak to us before things get out of hand,” he continued.

As an internet bank, first direct offers a number of services including text message banking and online insurance.

© Adfero Ltd

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