Money remains ‘the last taboo’
British consumers would rather discuss sex or health than money matters, according to new research.
The subject of salaries, debt and the like are not considered to be suitable subjects for conversation, causing a proportion of the population to not plan their finances appropriately, according to Scottish Widows.
Research by the firm indicates that nine out of ten Brits will not discuss their wages with friends, while 70 per cent remain tight-lipped when it comes to the family.
Mike Hoban, customer and brand marketing director of Scottish Widows, observed: “It’s no surprise that the nation is under-saving and under-preparing for the future when money is clearly such an uncomfortable subject.
“If you really can’t face discussing money with people you know, it might be a good idea to seek professional financial advice.”
Earlier this month Scottish Widows published research indicating that debt concerns were forcing around 3.5 million mothers back into the workplace.
People worried about their debt levels, but seeking an alternative to bankruptcy, may wish to take out an individual voluntary arrangement.
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