Finance is the last taboo
UK families are more likely to discuss sex, current affairs or religion than finances, according to a study by Picture Financial.
The research revealed that, despite 77 per cent of the UK population admitting to regularly worrying about their finances, people are still unlikely to talk money matters with family members.
Julia Dallimore, marketing director at Picture Financial, said: “Discussing personal finance, particularly credit, seems to be the final taboo. Most people are now perfectly comfortable with credit, but don’t realise that other people are.
“People are missing out on sharing the knowledge and expertise that could lead them to getting a better deal.”
The younger generation worry about credit the most, with 19 % of 16-24 year olds claiming that credit was a constant source of worry, compared to only 6% of over 55s.
Despite this, young people are unwilling to discuss these concerns, with only seven percent admitting to regularly talking about finances with more experienced family members.