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Two thirds of Brits avoid talking about finances


Two thirds of people in the UK try to avoid talking about their finances, according to research from the Debt Advisory Centre.

A third of people in the UK don’t discuss with their friends or family how much they earn, and the same number would avoid discussions about debt. Even discussing the value of their home makes 14% of people awkward.

Peoples reluctance to discuss financial situations can be traced back to how they were raised, with 27% of people claiming they were brought up not to talk about money. A desire to avoid sounding arrogant, or even worse, to hear others brag is the main reason that 30% shy away from money conversations. A further 38% say they find the subject either depressing or embarrassing.

Melanie Taylor, a spokeswoman for Debt Advisory Centre, said:
“It’s quite staggering to see how many of us are reluctant to talk about anything to do with money, whether that is credit card debt, the value of your home or even, your salary. Money is almost a dirty word in this country, with parents instilling in their children the idea that it’s something you don’t talk about, whether you are financially comfortable or struggling.

“With the barriers surrounding illnesses such as depression being broken down, it seems that money is now one of the biggest taboos. And the stigma surrounding debt can prevent those who are really struggling from asking for help.

“There needs to be a big change in our views towards money so that we become more comfortable talking about it, learning how to manage it, and most importantly, educating our children about it.”

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