Nearly a quarter of Brits don’t want to talk about debt
According to new research from Tesco Bank, debt remains a taboo topic with Brits.
A staggering 23% of people say discussing debt would make them feel shame and embarrassment and 18% say they would never confess to anyone that they were in debt.
Gail Goldie, chief banking officer at Tesco Bank said: “A lot of us will ring in the new year owing money to either friends or family, a bank or payment provider and this means it’s important to look at how that debt is managed.
“Putting realistic plans in place, seeking the support of free and expert advice, distinguishing between the different debts you have, and knowing what you have coming in and going out, will help you feel on top of your finances.
“Depending on your personal circumstances, a debt consolidation loan could be a helpful way to manage your debts, potentially helping you to reduce the size of your monthly repayments.
“Also make sure that any borrowing is working hard for you. Look at where you can build points or get rewards with providers, like money off at the tills or cashback, to make the spending go a little further.”
Some 2,000 people across the UK were surveyed for Tesco Bank in October.
