One in ten Brits ‘hide their debts’

Around ten per cent of British adults keep the details of their debt management circumstances hidden from their partners, according to recent research.

Figures from Engage Mutual Assurance show that millions of men and women around the country are failing to communicate with their loved ones when it comes to issues of personal finances.

The study from the financial services firm found that credit card debt is the most keenly avoided subject among British couples and that men are more likely than women to keep money-related secrets.

Karl Elliott, 3GB spokesperson for Engage Mutual Assurance, said: “It is important that couples discuss their finances, particularly when children are involved.

“Understanding the state of your joint finances before a situation gets out of control could help to alleviate problems further down the line.”

The Credit Action charity currently estimates that the average household debt in the UK stands at around £8,900, excluding mortgage arrears.

track

Tell others:

shortlink